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

Founded in 1999 as a high-tech spin-off from the Nanyang Technological University Singapore (ranked #13th in QS Global World University Rankings 2021 – 6th year in a row) by Dr. Shi Xu, NanoFilm Technologies International Pte Ltd (NTI) offers coating solutions that provide functional and/or aesthetic improvements to its customers’ end-products.Its share price has a nice rally post IPO and left investors to wonder whether there will be anything left. There are many reasons why investors should be excited about <a href="https://www.smartkarma.com/entities/nanofilm-technologies-international" target="_blank" data-smartkarma-citation="entities:29700:1" rel="noopener">Nanofilm (NANO SP)</a> namely 1) blue-chip customers' stickiness in the tech sector including Microsoft as well as 2) the expanding Total Addressable Market for its coating business that will include EV sectors and 3) this could be an ESG stock from Environmental angle due to its exposure in EV that will mean less CO2 emission. I am still bullish on this.

Founded in 1999 as a high-tech spin-off from the Nanyang Technological University Singapore (ranked #13th in QS Global World University Rankings 2021 – 6th year in a row) by Dr. Shi Xu, NanoFilm Technologies International Pte Ltd (NTI) offers coating solutions that provide functional and/or aesthetic improvements to its customers’ end-products.Its share price has a nice rally post IPO and left investors to wonder whether there will be anything left. There are many reasons why investors should be excited about Nanofilm (NANO SP) namely 1) blue-chip customers' stickiness in the tech sector including Microsoft as well as 2) the expanding Total Addressable Market for its coating business that will include EV sectors and 3) this could be an ESG stock from Environmental angle due to its exposure in EV that will mean less CO2 emission. I am still bullish on this. 

Nanofilm (NANO): Don't Sell Yet, More to Come

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here? AMZN, FB, GOOGL, NFLX, MSFT/ADBE/NOW,  AAPL<div class="content-highlight">Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  </div>

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here? AMZN, FB, GOOGL, NFLX, MSFT/ADBE/NOW,  AAPLObex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>After having a go at SAP during the last earnings release in March, Oracle is due to announce its quarterly results this week.</li>
<li>The company continues to strengthen its dominant position in the Enterprise Resource Planning space and is seeing stronger momentum.</li>
<li>The supply-constrained Oracle Cloud Infrastructure offers a key competitive advantage for Oracle's ERP and database services.</li>
</ul>


After having a go at SAP during the last earnings release in March, Oracle is due to announce its quarterly results this week.
The company continues to strengthen its dominant position in the Enterprise Resource Planning space and is seeing stronger momentum.
The supply-constrained Oracle Cloud Infrastructure offers a key competitive advantage for Oracle's ERP and database services.


Oracle: The Turning Point Of The Business

Another incredibly impressive quarterly performance for Crowdstrike. It crushed consensus and raised guidance by well more than the beat. The recent Gartner Magic Quadrant on endpoint protection shows Crowdstrike head and shoulders above the legacy competition. The high profile cyber attack backdrop doesn't hurt either. The only issue is...the market has caught up to Crowdstrike, and its a bit of a consensus long now. We stay long but recognize further gains are harder because of this dynamic. <div class="content-highlight">Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  </div>

Another incredibly impressive quarterly performance for Crowdstrike. It crushed consensus and raised guidance by well more than the beat. The recent Gartner Magic Quadrant on endpoint protection shows Crowdstrike head and shoulders above the legacy competition. The high profile cyber attack backdrop doesn't hurt either. The only issue is...the market has caught up to Crowdstrike, and its a bit of a consensus long now. We stay long but recognize further gains are harder because of this dynamic. Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.  

Alpha-Centric ESG Research

Kyle Rudden

More and more, companies are using cryptocurrency (especially Bitcoin) as part of their corporate treasury management strategies, discussed in <a href="https://www.smartkarma.com/insights/bitcoin-on-balance-sheets-indirect-crypto-exposure-considerations-for-crypto-leery-esg-investors" target="_blank" data-smartkarma-citation="insights:52207" rel="noopener">Bitcoin on Balance Sheets: Indirect Crypto Exposure Considerations for Crypto-Leery ESG Investors</a>. That trend is behind the topic of this report.Greater mainstream corporate and institutional use of Bitcoin is driving the growth in demand for cryptocurrency custody services, and banks around the world are rushing to fill that demand. It is a logical and relatively safe foray into the cryptocurrency space, albeit not without some risk.For ESG investors wishing to avoid direct or indirect cryptocurrency exposure, perhaps due to their views on crypto's wretched Environmental footprint, the banks herein will have significant indirect crypto exposure. However, I personally find it hard to be categorically bearish on this theme.Whilst the theme in the first Insight (holding Bitcoin on balance sheets) represents real risk, this is different. It could be argued that crypto custody perpetuates <a href="https://www.smartkarma.com/entities/bitcoin-usd" target="_blank" data-smartkarma-citation="entities:25895:1" rel="noopener">Bitcoin (XBT)</a>'s climate impacts, thus is a bad thing. Perhaps, from a purely idealistic ESG viewpoint, that is partially true.However, the connection from custody service to carbon emissions is so far removed, and the risks associated with entering the crypto custody space are so comparatively minimal, that the opinion on this theme should be "neutral" at worst, and definitely not across-the-board "negative."But really, that is for each investor to decide, because the crypto/ESG issue is highly subjective.

More and more, companies are using cryptocurrency (especially Bitcoin) as part of their corporate treasury management strategies, discussed in Bitcoin on Balance Sheets: Indirect Crypto Exposure Considerations for Crypto-Leery ESG Investors. That trend is behind the topic of this report.Greater mainstream corporate and institutional use of Bitcoin is driving the growth in demand for cryptocurrency custody services, and banks around the world are rushing to fill that demand. It is a logical and relatively safe foray into the cryptocurrency space, albeit not without some risk.For ESG investors wishing to avoid direct or indirect cryptocurrency exposure, perhaps due to their views on crypto's wretched Environmental footprint, the banks herein will have significant indirect crypto exposure. However, I personally find it hard to be categorically bearish on this theme.Whilst the theme in the first Insight (holding Bitcoin on balance sheets) represents real risk, this is different. It could be argued that crypto custody perpetuates Bitcoin (XBT)'s climate impacts, thus is a bad thing. Perhaps, from a purely idealistic ESG viewpoint, that is partially true.However, the connection from custody service to carbon emissions is so far removed, and the risks associated with entering the crypto custody space are so comparatively minimal, that the opinion on this theme should be "neutral" at worst, and definitely not across-the-board "negative."But really, that is for each investor to decide, because the crypto/ESG issue is highly subjective.

Banks on the Bitcoin Bandwagon: Cashing in Through Crypto Custody Services

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

Nanofilm (NANO): Don't Sell Yet, More to Come

Many reasons investors should be excited about Nanofilm: customers' stickiness in the tech sector as well as expanding Total Addressable Market for...

Henry Soediarko

TMT Weekly: FAANG Rankings from Here

Much like in March, when we advocated for buying large cap tech, we are once again calling to buy large cap tech. Order of preference from here?...

Aaron Gabin

Oracle: The Turning Point Of The Business

After having a go at SAP during the last earnings release in March, Oracle is due to announce its quarterly results this week. The company...

Vladimir Dimitrov, CFA

Crowdstrike 1Q2022: The Best in the Biz

Incredibly strong quarter for Crowdstrike. The business is humming, clearly separating itself from its legacy peers. High profile ransomware...

Aaron Gabin

Banks on the Bitcoin Bandwagon: Cashing in Through Crypto Custody Services

Bitcoin holdings by issuers and investors is driving crypto custody demand. Big banks are stepping. A big opportunity, but some ESG investors might...

Kyle Rudden

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