ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

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

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<a href="https://www.smartkarma.com/entities/medikaloka-hermina-tbk-pt" target="_blank" data-smartkarma-citation="entities:27000:1" rel="noopener">Medikaloka Hermina (HEAL IJ)</a> is unique in Indonesia for its focus on women and children, which makes it a resilient performer plus more than half its patients are JKN related.</li>
<li>The company booked a strong set of 1H2022 results despite coming off a high COVID base, with Inpatient and outpatient numbers already above pre-pandemic levels. </li>
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<a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International</a> now owns over 7% of the company in its first hospital investment and we could see this stake rising further. Valuations are attractive versus <a href="https://www.smartkarma.com/entities/mitra-keluarga-karyasehat-tbk" target="_blank" data-smartkarma-citation="entities:288:1" rel="noopener">Mitra Keluarga</a>.</li>
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Medikaloka Hermina (HEAL IJ) is unique in Indonesia for its focus on women and children, which makes it a resilient performer plus more than half its patients are JKN related.
The company booked a strong set of 1H2022 results despite coming off a high COVID base, with Inpatient and outpatient numbers already above pre-pandemic levels. 

Astra International now owns over 7% of the company in its first hospital investment and we could see this stake rising further. Valuations are attractive versus Mitra Keluarga.


Medikaloka Hermina (HEAL IJ) - Forging Ahead Beyond COVID

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<a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a> remains the leading diagnostics company in Indonesia and was a huge beneficiary of the pandemic and hence has seen a recent slowdown.</li>
<li>The number of tests per visit increased in 1H2022, as customers returned to more routine testing post COVID plus the company is increasingly employing a digital approach to its business.</li>
<li>Prodia is forecast to return to growth over the next two years, with  +11% EPS growth forecast for FY2023E and FY2024E, implying a forward PER of 8.6x.</li>
</ul>



Prodia (PRDA IJ) remains the leading diagnostics company in Indonesia and was a huge beneficiary of the pandemic and hence has seen a recent slowdown.
The number of tests per visit increased in 1H2022, as customers returned to more routine testing post COVID plus the company is increasingly employing a digital approach to its business.
Prodia is forecast to return to growth over the next two years, with  +11% EPS growth forecast for FY2023E and FY2024E, implying a forward PER of 8.6x.


Prodia (PRDA IJ) - Injecting Digital Health

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<a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a> released an exceptionally strong set of FY2021 results, driven partly by COVID testing but coupled by a pick-up in its core testing business and especially esoteric testing.</li>
<li>It continues to see increasing tests per visit with revenue per visit increasing at the same time. Its digital strategy is working well further driving growth through an omnichannel approach.</li>
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<a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a> continues to look dramatically undervalued versus its Indian diagnostic peers given its quality and growth prospects and remains our top Indonesian healthcare pick.</li>
</ul>



Prodia (PRDA IJ) released an exceptionally strong set of FY2021 results, driven partly by COVID testing but coupled by a pick-up in its core testing business and especially esoteric testing.
It continues to see increasing tests per visit with revenue per visit increasing at the same time. Its digital strategy is working well further driving growth through an omnichannel approach.

Prodia (PRDA IJ) continues to look dramatically undervalued versus its Indian diagnostic peers given its quality and growth prospects and remains our top Indonesian healthcare pick.


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<li>
<a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a> registered an explosive growth in 3Q2021 boosted by higher esoteric testing but also a pick up in routine testing, which should help to drive growth into 2022.</li>
<li>The company continues to expand its network and develop its omnichannel capabilities through its Prodia app, as well as introducing new diagnostic tests to its offering </li>
<li>
<a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a> remains one of our top healthcare picks in Indonesia, which also looks very undervalued versus its Indian peers, despite its high-quality operations and growth outlook.</li>
</ul>



Prodia (PRDA IJ) registered an explosive growth in 3Q2021 boosted by higher esoteric testing but also a pick up in routine testing, which should help to drive growth into 2022.
The company continues to expand its network and develop its omnichannel capabilities through its Prodia app, as well as introducing new diagnostic tests to its offering 

Prodia (PRDA IJ) remains one of our top healthcare picks in Indonesia, which also looks very undervalued versus its Indian peers, despite its high-quality operations and growth outlook.


Prodia (PRDA IJ) - Keeping Indonesia Healthy Beyond COVID

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>For our next Webinar, we have the pleasure of welcoming Insight Provider <a href="https://www.smartkarma.com/profiles/henry-soediarko" target="_blank" data-smartkarma-citation="accounts:1006" rel="noopener">Henry Soediarko</a> to explore sectors to overweight and underweight in Indonesia. The country's healthcare system has been overwhelmed due to COVID-19, raising questions about hospital operators such as <a href="https://www.smartkarma.com/entities/mitra-keluarga-karyasehat-tbk" target="_blank" data-smartkarma-citation="entities:288:1" rel="noopener">Mitra Keluarga Karyasehat Tbk (MIKA IJ)</a> and <a href="https://www.smartkarma.com/entities/siloam-international-hospital" target="_blank" data-smartkarma-citation="entities:878:1" rel="noopener">Siloam International Hospital (SILO IJ)</a>, while tighter testing and vaccination regulations could bode well for <a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a> as the only listed entity in Indonesia with expertise on testing.</p>
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<h3>The webinar will be hosted on Wednesday, 21 July 2021, 17:00 SGT/HKT.</h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=87300061562" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<p>Henry Soediarko is a Long &amp; Short Investment Ideas generator for Asian Equities with 10 years of experience in a Hedge fund focused on bottom-up ideas, searching out mispriced ideas and misunderstood investment theses. He provides on-the-ground insights in various Asian markets with a sway towards ASEAN. </p>
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For our next Webinar, we have the pleasure of welcoming Insight Provider Henry Soediarko to explore sectors to overweight and underweight in Indonesia. The country's healthcare system has been overwhelmed due to COVID-19, raising questions about hospital operators such as Mitra Keluarga Karyasehat Tbk (MIKA IJ) and Siloam International Hospital (SILO IJ), while tighter testing and vaccination regulations could bode well for Prodia (PRDA IJ) as the only listed entity in Indonesia with expertise on testing.


The webinar will be hosted on Wednesday, 21 July 2021, 17:00 SGT/HKT.





Register for the Webinar here

Henry Soediarko is a Long &amp; Short Investment Ideas generator for Asian Equities with 10 years of experience in a Hedge fund focused on bottom-up ideas, searching out mispriced ideas and misunderstood investment theses. He provides on-the-ground insights in various Asian markets with a sway towards ASEAN. 



Smartkarma Webinar | Sectors to Overweight and Underweight in Indonesia Amidst the Covid Crisis

Indonesia

PT Prodia Widyahusada Tbk is an Indonesian company that provides clinical laboratory services. It offers a range of diagnostic services including genomic, laboratory, and non-laboratory tests, as well as doctor consultations, vaccines, and home services. The company also operates personalized medicine-based wellness clinics and specialty clinics. Prodia Widyahusada was founded in 1973 and is headquartered in Jakarta Pusat, Indonesia.

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Prodia Widyahusada (PRDA IJ)

Medikaloka Hermina (HEAL IJ) - Forging Ahead Beyond COVID

Medikaloka Hermina (HEAL IJ) is unique in Indonesia for its focus on women and children, which makes it a resilient performer plus more than half...

Angus Mackintosh

Prodia (PRDA IJ) - Injecting Digital Health

Prodia looks cheap as forecast to return to growth over the next two years, with +11% EPS growth forecast for FY2023E and FY2024E, implying a...

Angus Mackintosh

Prodia (PRDA IJ) - Diagnosed for Growth

Prodia (PRDA IJ) continues to look dramatically undervalued versus its Indian diagnostic peers given its quality and growth prospects and remains...

Angus Mackintosh

Prodia (PRDA IJ) - Keeping Indonesia Healthy Beyond COVID

Prodia (PRDA IJ) remains one of our top healthcare picks in Indonesia, which looks very undervalued versus its Indian peers, despite its high...

Angus Mackintosh

Smartkarma Webinar | Sectors to Overweight and Underweight in Indonesia Amidst the Covid Crisis

Join us on 21 July, 5pm SGT, as Henry Soediarko explores what to overweight and underweight in Indonesia in the midst of the COVID crisis, looking...

Smartkarma Research

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