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

<ul>
<li>The heavy flood in Bangkok creates a one-off demand surge in home appliance - <a href="https://www.smartkarma.com/entities/home-product-center-public-co-ltd" target="_blank" data-smartkarma-citation="entities:9906:1" rel="noopener">Home Product Center (HMPRO TB)</a> is set to benefit from this. </li>
<li>Currently trades at around 13x PER, lower than the historical 20x while generating a 20% ROE. </li>
<li>It is also a better-run company to the peers, such as <a href="https://www.smartkarma.com/entities/dohome-public-company-limited" target="_blank" data-smartkarma-citation="entities:27331:1" rel="noopener">Dohome (DOHOME TB)</a> .</li>
</ul>


The heavy flood in Bangkok creates a one-off demand surge in home appliance - Home Product Center (HMPRO TB) is set to benefit from this. 
Currently trades at around 13x PER, lower than the historical 20x while generating a 20% ROE. 
It is also a better-run company to the peers, such as Dohome (DOHOME TB) .


CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into the portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 223% versus MSCI ASEAN’s 30%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, 10 stocks added into the portfolio
Since its inception, the portfolio has generated a before-fee total return of 223% versus MSCI ASEAN’s 30%


<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Three stocks remain, and 11 stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 259% versus MSCI ASEAN’s 44%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Three stocks remain, and 11 stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 259% versus MSCI ASEAN’s 44%


Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Macroeconomics

<ul>
<li>Thai equities lack growth and innovation. Big corporations continue to have unfair advantages in terms of access to bank financing and business opportunities.</li>
<li>Thailand is an aging society with rising income disparity and a stalling education system. Hence, we have questioned how Thailand will escape the middle income trap in the near term.</li>
<li>We expect more disruptions and policy blunders which could impair Thai stock performance. We do not believe Thailand can correct its cause in the near term.</li>
</ul>


Thai equities lack growth and innovation. Big corporations continue to have unfair advantages in terms of access to bank financing and business opportunities.
Thailand is an aging society with rising income disparity and a stalling education system. Hence, we have questioned how Thailand will escape the middle income trap in the near term.
We expect more disruptions and policy blunders which could impair Thai stock performance. We do not believe Thailand can correct its cause in the near term.


<ul>
<li>Thailand has finally had Mr. Sretha Thavisin as the 30th Prime Minister (PM) of Thailand on 22-August.</li>
<li>The PTP decided to betray its voters to cross  the aisle to join the conservative side.</li>
<li>We believe the potential surge in the Thai stock performance should be the time to de-risk.</li>
</ul>


Thailand has finally had Mr. Sretha Thavisin as the 30th Prime Minister (PM) of Thailand on 22-August.
The PTP decided to betray its voters to cross  the aisle to join the conservative side.
We believe the potential surge in the Thai stock performance should be the time to de-risk.


Thailand

Central Retail Corporation Public Company Limited is a multi-format retailing business operating across Thailand, Italy, and Vietnam, and is a flagship company of Central Group. It offers a diverse portfolio across food, fashion, hardline, and property segments, encompassing department stores, supermarkets, hypermarkets, specialty stores, and omnichannel services. The company was founded in 1947 and is headquartered in Bangkok, Thailand.

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Central Retail Corporation (CRC TB)

Homepro (HMPRO): Flood Beneficiary

Post the heavy flood in Thailand, the Thai will need to refurbish their homes - enter Homepro. Paying 6% dividend with 23% ROE and trading at 14x...

Henry Soediarko

The Stocks to Own in ASEAN – Vol. 50

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Since its inception, the portfolio has generated a...

A. Stotz Investment Research

The Stocks to Own in ASEAN – Vol. 49

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Three stocks remain, 11 stocks added.

A. Stotz Investment Research

Thailand: Aging Poor

The political uncertainty in the past 2 decades has not subsided, in our judgment. We then expect more unpredictable disruptions and policy...

Bondcritic

Thailand : The Empire Strikes Back

Thai politics entered an uncharted territory where many voters view the current coalition as a betrayal of their trust and we believe the surge in...

Bondcritic

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