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

Astro Malaysia Holdings / Equity Bottom-Up

Astro's high-frequency operational data still looks very positive with a high TV viewership share (72%), 3.2 hours average time spent/day that is ahead of 2.16 hours of the FTA, increased MAU by 17% YoY, on-demand shows streamed has tripled to MYR 233 million. 
The big announcement is that Astro subscribers can soon access <a href="https://www.smartkarma.com/entities/netflix-inc" target="_blank" data-smartkarma-citation="entities:20451:1" rel="noopener">Netflix Inc (NFLX US)</a> through its Ultra and Ulti boxes which means investors should not worry that Astro subscribers will be reduced because they want to move to Netflix. Although it is more of a defensive strategy, there is a potential for a small upside as some existing Netflix subscribers in Malaysia may want to subscribe to Astro as they get bangs for their bucks. 
Post 50% share price increase, the company is still trading below its pre-COVID-19 level although the business climate has been stable and Netflix is not exactly a competitor to be feared anymore as it has become Astro's allies in Malaysia. The company also generates just shy of 20% FCF yield. There is no reason not to like <a href="https://www.smartkarma.com/entities/astro-malaysia-holdings-bhd" target="_blank" data-smartkarma-citation="entities:1143:1" rel="noopener">Astro Malaysia Holdings (ASTRO MK)</a>.

Astro's high-frequency operational data still looks very positive with a high TV viewership share (72%), 3.2 hours average time spent/day that is ahead of 2.16 hours of the FTA, increased MAU by 17% YoY, on-demand shows streamed has tripled to MYR 233 million. 
The big announcement is that Astro subscribers can soon access Netflix Inc (NFLX US) through its Ultra and Ulti boxes which means investors should not worry that Astro subscribers will be reduced because they want to move to Netflix. Although it is more of a defensive strategy, there is a potential for a small upside as some existing Netflix subscribers in Malaysia may want to subscribe to Astro as they get bangs for their bucks. 
Post 50% share price increase, the company is still trading below its pre-COVID-19 level although the business climate has been stable and Netflix is not exactly a competitor to be feared anymore as it has become Astro's allies in Malaysia. The company also generates just shy of 20% FCF yield. There is no reason not to like Astro Malaysia Holdings (ASTRO MK). 

Astro (ASTRO): Netflix Is Included Soon and High FCF Yield.

China

Jiangsu Broadcasting Cable Information Network Corporation Limited offers media services. The Company provides digital television and pay-television programs. Jiangsu Broadcasting also offers broadband network services.

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Jiangsu Broadcasting Cable-A (600959 CH)

Astro (ASTRO): Netflix Is Included Soon and High FCF Yield.

After 50% increase, Astro is still trading below its pre-COVID-19 level although the business climate has been stable and Netflix has become...

Henry Soediarko

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