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

Telkom Indonesia (TLKM.IJ) Taking a Conservative Approach on Asset Accounting

Telkom Indonesia (TLKM.IJ) - Fiber Assets Spin-Off Paves the Way for Value Unlocking

Telkom Indonesia Persero - Market price reflects fair value (TLKM IJ, CP IDR3,600, D/G HOLD, TP IDR3,900, Telcos)

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>Possible MSCI downgrade lowered <a href="https://www.smartkarma.com/entities/pt-telkom-indonesia-persero-tbk" target="_blank" data-smartkarma-citation="entities:1051:1" rel="noopener">Telkom Indonesia (TLKM IJ)</a> share price by 12%, better than <a href="https://www.smartkarma.com/entities/jakarta-stock-exchange-composite-index" target="_blank" data-smartkarma-citation="entities:22914:1" rel="noopener">Jakarta Stock Exchange Composite Index (JCI INDEX)</a> by 6% but underperforming <a href="https://www.smartkarma.com/entities/bank-mandiri-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:441:1" rel="noopener">Bank Mandiri Persero (BMRI IJ)</a>.</li>
<li>It is scaling up the data center business and potentially sells up to 20% that will provide valuation uplift from 5x EV/EBITDA to 15x EV/EBITDA. </li>
<li>Use of proceeds are either for buybacks and/or paying special dividend that will boost its share price higher. </li>
</ul>


Possible MSCI downgrade lowered Telkom Indonesia (TLKM IJ) share price by 12%, better than Jakarta Stock Exchange Composite Index (JCI INDEX) by 6% but underperforming Bank Mandiri Persero (BMRI IJ).
It is scaling up the data center business and potentially sells up to 20% that will provide valuation uplift from 5x EV/EBITDA to 15x EV/EBITDA. 
Use of proceeds are either for buybacks and/or paying special dividend that will boost its share price higher. 


Telkom Indonesia

Telkom (TLKM): Unlocking Value