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

Sheng Siong Group - Quality remains but upside narrows; D/G to HOLD

Sheng Siong (SSG SP): Record Q1FY26 Revenues Driven By Store Expansions

Sheng Siong Group Ltd (SSG SP) Q2FY26: Steady Low Double-Digit Growth

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/sheng-siong-group-ltd" target="_blank" data-smartkarma-citation="entities:6824:1" rel="noopener">Sheng Siong (SSG SP)</a> benefited from the SG60 cash handouts and expanded CDC (spending voucher) disbursement. </li>
<li>As growth plateaus and there are better stocks out there to offer yield and return, investors are likely to rotate out; hence, the 28x PER will normalize to 18-20x. </li>
<li>Investors could either do a short Sheng Shiong or sell their existing holdings to book profit. Another way is to pair this with <a href="https://www.smartkarma.com/entities/kimly-ltd" target="_blank" data-smartkarma-citation="entities:28157:1" rel="noopener">Kimly (KMLY SP)</a>with 2% positive yield. </li>
</ul>



Sheng Siong (SSG SP) benefited from the SG60 cash handouts and expanded CDC (spending voucher) disbursement. 
As growth plateaus and there are better stocks out there to offer yield and return, investors are likely to rotate out; hence, the 28x PER will normalize to 18-20x. 
Investors could either do a short Sheng Shiong or sell their existing holdings to book profit. Another way is to pair this with Kimly (KMLY SP)with 2% positive yield. 


Sheng Shiong (SSG) Vs. Kimly: Convergence