Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> remains the de-facto SaaS play in the Chinese domestic airlines' industry that is proven by the higher ROE and lower debt level compared to the airlines in general. Volumes have recovered post the worse COVID-19 period thanks to the decisive government policy and as of October 2020, the YoY variance has narrowed to -1.3% compared to -46.7% in May 2020, further reinforcing the investment thesis that domestic travel that makes up to 85% of the group's business is recovering on the right direction. </p>
<div class="content-highlight">
<p><strong>Investors should treat <a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> as an ETF to get exposure to the air travel recovery in China without the hassle of picking which airlines to buy.</strong></p>
</div>

Travelsky Technology Ltd H (696 HK) remains the de-facto SaaS play in the Chinese domestic airlines' industry that is proven by the higher ROE and lower debt level compared to the airlines in general. Volumes have recovered post the worse COVID-19 period thanks to the decisive government policy and as of October 2020, the YoY variance has narrowed to -1.3% compared to -46.7% in May 2020, further reinforcing the investment thesis that domestic travel that makes up to 85% of the group's business is recovering on the right direction. 

Investors should treat Travelsky Technology Ltd H (696 HK) as an ETF to get exposure to the air travel recovery in China without the hassle of picking which airlines to buy.


Travelsky (696): Muted Impact from New Virus

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Bangkok Dusit Medical Services / Equity Bottom-Up

<ul><li>Concern over the COVID-19 outbreak causes us to revise down the profit forecasts.</li><li>We expect revenue growth to be slower in the next 3-4 months, reducing BDMS's revenue in 2020E by 2-3% from the previous forecast.</li><li>We revise down the revenue forecasts by 3% in 2020-2021E to reflect the impact from COVID-19.</li></ul>

Concern over the COVID-19 outbreak causes us to revise down the profit forecasts.We expect revenue growth to be slower in the next 3-4 months, reducing BDMS's revenue in 2020E by 2-3% from the previous forecast.We revise down the revenue forecasts by 3% in 2020-2021E to reflect the impact from COVID-19.

COVID-19 Outbreak to Affect 1H20E Earnings

United States

Black Knight, Inc. operates as a holding company. The Company, through its subsidiaries, provides integrated technology, work flow automation, data, and analytic solutions to the mortgage and real estate industries. Black Knight serves clients in the United States and India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Black Knight (BKI US)

Travelsky (696): Muted Impact from New Virus

Travelsky Technology Ltd H (696 HK) is comparable to an ETF for investors who want to get exposure to the air travel recovery in China without...

Henry Soediarko

COVID-19 Outbreak to Affect 1H20E Earnings

Concern over the COVID-19 outbreak causes us to revise down the profit forecasts. We expect revenue growth to be slower in the next 3-4 months,...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)