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

Tongda (698): Real Monetization Potential

Tongda (698): 85% Discount to Higher Margin Business

Tongda (698 HK) - 1H25 Earnings Recovery In-Line

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>Taking into account the 66% ownership in Tongda Smart Tech, the market essentially is placing a negative value of the parent company business.</li>
<li>
<a href="https://www.smartkarma.com/entities/tongda-group-holdings-limited" target="_blank" data-smartkarma-citation="entities:18625:1" rel="noopener">Tongda Group (698 HK)</a> case is a bit similar to <a href="https://www.smartkarma.com/entities/wasion-holdings-limited" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener">Wasion (3393 HK)</a> but operationally a little diferent. </li>
<li>Despite the valuation gap, it is relatively low-probability that management will conduct a share buyback or resume dividend payments to increase shareholders' confidence. </li>
</ul>


Taking into account the 66% ownership in Tongda Smart Tech, the market essentially is placing a negative value of the parent company business.

Tongda Group (698 HK) case is a bit similar to Wasion (3393 HK) but operationally a little diferent. 
Despite the valuation gap, it is relatively low-probability that management will conduct a share buyback or resume dividend payments to increase shareholders' confidence. 


Willfar Information Technology (688100 CH)

Tongda (698): Stub, Long Dated, OTM Call Option