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

Airport of Thailand (AOT): 3rd Wave Is a Charm

The Week That Was in ASEAN@Smartkarma - Grab's SPAC Plans, Indonesia Hospitals, and ThaiBev

Airport of Thailand (AOT): Phuket Sandbox

Airport of Thailand (AoT): Travel Bubble, MoF, and Certify Hub

Airport of Thailand (AOT): Soon or Later?

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

<p>Contrary to last year when foreign tourists entering Thailand must be quarantined for at least 14 days, the quarantine requirements will be waived for vaccinated foreign visitors arriving on the resort island of Phuket from July 1, the first destination to reopen since the Covid-19 pandemic. </p><p>The plan to re-open Phuket for tourism was supported by local business operators that joined forces and offered to be the reopening model for major tourist provinces. Flights to the province and hotels to attract quality tourists will be made available.</p><div class="content-highlight"><p><strong>The stock is currently trading at the premium to its 5-year average in the three valuation metrics especially in the PER and EV/EBITDA where earnings and cash flow (EBITDA) were particularly low in 2020 due to the poor tourists' arrival in Thailand. However, the current PBR premium to the 5-year average is not that much, suggesting that the <a href="https://www.smartkarma.com/entities/airports-of-thailand-pcl" target="_blank" data-smartkarma-citation="entities:239:1" rel="noopener">Airports of Thailand (AOT TB)</a> is not exactly overvalued compared to its 5-year average.   </strong></p></div>

Contrary to last year when foreign tourists entering Thailand must be quarantined for at least 14 days, the quarantine requirements will be waived for vaccinated foreign visitors arriving on the resort island of Phuket from July 1, the first destination to reopen since the Covid-19 pandemic. The plan to re-open Phuket for tourism was supported by local business operators that joined forces and offered to be the reopening model for major tourist provinces. Flights to the province and hotels to attract quality tourists will be made available.The stock is currently trading at the premium to its 5-year average in the three valuation metrics especially in the PER and EV/EBITDA where earnings and cash flow (EBITDA) were particularly low in 2020 due to the poor tourists' arrival in Thailand. However, the current PBR premium to the 5-year average is not that much, suggesting that the Airports of Thailand (AOT TB) is not exactly overvalued compared to its 5-year average.   

Airport of Thailand (AOT): Tourists, Come Back.