The Beneficiary vs. Direct Participant Business Model

$OBAT $CASS

This concept is at the core of a smart investment strategy, often referred to as "betting on the ecosystem" or "investing in infrastructure."

Beneficiary Business Model

A company that provides essential goods or services to an industry but does not bear the direct risk of a single product's or brand's success. Its key characteristics are stable revenue, more predictable profit margins, and diversified business risk. The business model is often volume- or service-based, such as a raw material producer, infrastructure provider, or contract manufacturer.

Direct Participant Business Model

A company that directly participates in market competition, bearing the risks of marketing, sales, and brand rivalry. Its key characteristics are highly volatile revenue, which depends on the success of a flagship brand and aggressive marketing strategies. They have a greater potential for profit but also a higher risk of loss.
Examples include a pharmaceutical company with a single flagship brand or an airline competing intensely on ticket prices.

Understanding this concept changes how we view risk. Investing in CASS and OBAT is not just betting on a single company, but rather betting on the growth of the entire aviation, health products, beauty, and herbal ecosystems in Indonesia.
As an investor, you are placing your capital in a company that is protected from the risks of inter-brand competition and benefits from broad growth trends across various market segments. It also possesses solid fundamentals and exceptional profitability ratios.

$ASII