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

Best World (BEST SP): BT Article, Franchise and KOL

Best World: Buying Opportunity Due to Delayed Revenue Recognition

Best World: China, More Members, and Halal

Asia Small-Cap: Top Movers, Buybacks and Insider Dealing - Feb'18

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

Best World International / Equity Bottom-Up

<h2>1H 2018 Result Summary</h2><p>1H 2018 ended as the management informed late last year; a weak revenue contribution from China as they are transitioning from the export to a franchise model as well as the following:</p><ul>
<li>Revenue declined by 36.46% but gross margin improved by 6 bps from last year</li>
<li>Other operating income grew by 58.3 YoY, 95% on 6m basis YoY - <strong>it is what Best World charges its agents in China for market support activities, products training, and IT services as a function of the </strong>agents' sales…</li>
</ul>

1H 2018 Result Summary1H 2018 ended as the management informed late last year; a weak revenue contribution from China as they are transitioning from the export to a franchise model as well as the following:
Revenue declined by 36.46% but gross margin improved by 6 bps from last year
Other operating income grew by 58.3 YoY, 95% on 6m basis YoY - it is what Best World charges its agents in China for market support activities, products training, and IT services as a function of the agents' sales…


Best World (BEST): 1H, License to Sell in China on the 2H, and Relative Value Idea