Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

A Long & Short Investment Ideas generator for Asian Equities with 10 years experience in a Hedge fund focused on bottom-up ideas, searching out mispriced ideas and misunderstood investment thesis. Provides on-the-ground insights in various Asian markets with a sway towards ASEAN. Experienced and survived the Asian Financial Crisis in a family business, as well as the Global Financial Crisis in financial markets where lessons learned. It's all about understanding business drivers and navigating business cycles, which has high applicability in generating investment ideas. 

Investment horizon: Mid to Long term

Asian Insight Provider - Actionable ideas

Jollibee (JFC PM): Synthetic Expert Call Transcript (05 Sep 2026)

On Jollibee (JFC PM) In-Specie-Ing Its International Ops

Jollibee Foods - Costs hurt 1Q26 earnings (JFC PM, CP PHP133, BUY, TP PHP260, Consumer Staples)

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>
<a href="https://www.smartkarma.com/entities/jollibee-foods-corp" target="_blank" data-smartkarma-citation="entities:987:1" rel="noopener">Jollibee (JFC PM)</a> will list its international business unit in <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing-ltd-units-thailand-depositery-receipts-repr-0-01-sh" target="_blank" data-smartkarma-citation="entities:52437:1" rel="noopener">Hong Kong Exchanges and Clearing (HKEX23 TB)</a> . </li>
<li>The Philippines business can <strong>re-rate</strong> as the company masks and subsidizes the lower-margin, capital-intensive expansion phase of foreign acquisitions.</li>
<li>An independent HKEX listing gives autonomy to directly fund future overseas M&amp;A, capital expenditure, and store rollouts without diluting the parent company or taking on Philippine-issued debt. </li>
</ul>



Jollibee (JFC PM) will list its international business unit in Hong Kong Exchanges and Clearing (HKEX23 TB) . 
The Philippines business can re-rate as the company masks and subsidizes the lower-margin, capital-intensive expansion phase of foreign acquisitions.
An independent HKEX listing gives autonomy to directly fund future overseas M&amp;A, capital expenditure, and store rollouts without diluting the parent company or taking on Philippine-issued debt. 


Hong Kong Exchanges and Clearing (HKEX23 TB)

Jollibee

Jollibee: Spin off to HK to Re-Rate