Elevator Pitch

I retain my Neutral rating on Thailand-listed hospitality & leisure company Minor International Public Company Limited (OTCPK:MNILY) (OTC:MNILF) (OTCPK:MINOF) [MINT:TB].

This is an update of my prior article on Minor International published on June 15, 2020. Minor International’s share price has declined by -15% from Bt22.80 as of June 12, 2020, to Bt19.30 as of October 2, 2020, since my last update. Minor International trades at 9.5 times historical FY 2019 P/E and 24.7 times consensus forward FY 2022 P/E.

The situation for Minor International remains challenging. Minor International’s 2Q 2020 net loss was no surprise, considering the temporary closure of most of its hotels and food outlets, and the effects of negative operating leverage. A tightening of lock-down and social distancing measures in the markets where it operates in, and a new unexpected round of fund raising remain key downside risks for Minor International. On the flip

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Whether it’s a multi-billion dollar deal or a pair of siblings haggling over what to watch, any wise negotiator has to know what they can do if they are presented with a less-than-desired deal.

And in any significant discussion, a wise negotiator will have already analyzed a multitude of options for both their sides before they ever sit down and talk.

Part of that analysis is to map out the best alternative to a negotiated agreement (BATNA) for both sides. A negotiating team needs to know what its alternatives are if it decides to walk away from the negotiation. Ideally, it needs to know its adversary’s alternatives as well.

Over the past year of Major League Baseball’s negotiations with Minor League Baseball over the future of the minor leagues, MLB’s BATNA has been clear. With no deal, MLB could walk away from its current relationship with MiLB and set up

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Yankees owner Hal Steinbrenner and the entire organization was called out Thursday by two of its Black minor leaguers.

First baseman Chris Gittens and outfielder Caanan Smith want the Yankees to do more to support the Black community, which has been outraged again since last Sunday when Wisconsin man Jacob Blake was shot seven times by a police officer while resisting arrest.

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“Really need my team to make a statement,” tweeted Gittens, a first baseman who hit 23 homers playing for Double-A Trenton in 2019. “You have guys in your organization that needs to see that you are with us and not about the money!!! Don’t stay silent!!!!! #BLM

Smith, who was a fourth-round draft pick in 2017, later followed suit by tweeting, “Yankees be with us.”

Yankees 2018 first round

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