ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

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

Cross Asset Strategy

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/singapore-telecommunications" target="_blank" data-smartkarma-citation="entities:20:1" rel="noopener">Singtel (ST SP)</a> and Optus, <a href="https://www.smartkarma.com/entities/jollibee-foods-corp" target="_blank" data-smartkarma-citation="entities:987:1" rel="noopener">Jollibee Foods (JFC PM)</a>, <a href="https://www.smartkarma.com/entities/mk-restaurants-group-pcl" target="_blank" data-smartkarma-citation="entities:17689:1" rel="noopener">MK Restaurants Group (M TB)</a> and <a href="https://www.smartkarma.com/entities/agung-podomoro-land-tbk-pt" target="_blank" data-smartkarma-citation="entities:16010:1" rel="noopener">Agung Podomoro Land (APLN IJ)</a>.</li>
<li>There was also a thematic insight looking at the rise of BNPL, a sector piece on APAC Luxury, and 14 stocks to own in Thailand from <a href="https://www.smartkarma.com/profiles/dr-andrew-stotz-cfa" target="_blank" data-smartkarma-citation="accounts:756" rel="noopener">Dr Andrew Stotz, CFA</a>.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on Singtel (ST SP) and Optus, Jollibee Foods (JFC PM), MK Restaurants Group (M TB) and Agung Podomoro Land (APLN IJ).
There was also a thematic insight looking at the rise of BNPL, a sector piece on APAC Luxury, and 14 stocks to own in Thailand from Dr Andrew Stotz, CFA.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - SingTel & Optus, Jollibee Foods, and 14 Thai Stocks

External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Thematic (Sector/Industry)

<ul><li>Majority of property developers’ marketing sales showed stable growth of 0-2% yoy in 4Q23, with CTRA showing the strongest at 45% yoy.</li><li>We expect a brighter sales outlook for FY24 (at +8-12% yoy), supported by a continuation in VAT and LTV stimulus.</li><li>We currently have an OW rating on the sector; possible downside risks might come from postponement of commercial property purchases.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Majority of property developers’ marketing sales showed stable growth of 0-2% yoy in 4Q23, with CTRA showing the strongest at 45% yoy.We expect a brighter sales outlook for FY24 (at +8-12% yoy), supported by a continuation in VAT and LTV stimulus.We currently have an OW rating on the sector; possible downside risks might come from postponement of commercial property purchases.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Property: Stable 4Q23 Marketing Sales Growth (OVERWEIGHT)

<ul>
<li>The Past Week saw insights on <a href="https://www.smartkarma.com/entities/lendlease-global-commercial-reit" target="_blank" data-smartkarma-citation="entities:28292:1" rel="noopener">Lendlease Global Commercial REIT</a>, <a href="https://www.smartkarma.com/entities/berli-jucker-public-co-ltd" target="_blank" data-smartkarma-citation="entities:3685:1" rel="noopener">Berli Jucker (BJC TB)</a>, <a href="https://www.smartkarma.com/entities/aem-holdings-ltd" target="_blank" data-smartkarma-citation="entities:11019:1" rel="noopener">AEM (AEM SP)</a>, <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>, and the upcoming <a href="https://www.smartkarma.com/entities/citicore-renewable-energy" target="_blank" data-smartkarma-citation="entities:40676:1" rel="noopener">Citicore Renewable Energy</a> IPO.</li>
<li>There was also macro insight on the new joint Singapore &amp; Malaysia Special Economic Zone in Johor and an insight on the STTF rebalancing in Singapore. </li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The Past Week saw insights on Lendlease Global Commercial REIT, Berli Jucker (BJC TB), AEM (AEM SP), Airports of Thailand (AOT TB), and the upcoming Citicore Renewable Energy IPO.
There was also macro insight on the new joint Singapore &amp; Malaysia Special Economic Zone in Johor and an insight on the STTF rebalancing in Singapore. 
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - LREIT's Focussed, Berli Jucker, and AEM's Inventory Loss

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo</a> post its pivotal results, <a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International (ASII IJ)</a>, <a href="https://www.smartkarma.com/entities/bukalapak-com-pt-tbk" target="_blank" data-smartkarma-citation="entities:33575:1" rel="noopener">Bukalapak (BUKA IJ)</a>, <a href="https://www.smartkarma.com/entities/mayora-indah-pt" target="_blank" data-smartkarma-citation="entities:15131:1" rel="noopener">Mayora Indah (MYOR IJ)</a>, <a href="https://www.smartkarma.com/entities/dbs-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22:1" rel="noopener">DBS (DBS SP)</a> and <a href="https://www.smartkarma.com/entities/indika-energy-tbk-pt" target="_blank" data-smartkarma-citation="entities:1776:1" rel="noopener">Indika Energy (INDY IJ)</a>.</li>
<li>The was also a macro insight on Singapore, a sector insight on Indonesian Banks, and credit insights on <a href="https://www.smartkarma.com/entities/lippo-karawaci-tbk-pt" target="_blank" data-smartkarma-citation="entities:3121:1" rel="noopener">Lippo Karawaci (LPKR IJ)</a> and <a href="https://www.smartkarma.com/entities/pertamina-geothermal-energy-pt" target="_blank" data-smartkarma-citation="entities:36725:1" rel="noopener">Pertamina Geothermal Energy PT (PGEO IJ)</a>.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on GoTo post its pivotal results, Astra International (ASII IJ), Bukalapak (BUKA IJ), Mayora Indah (MYOR IJ), DBS (DBS SP) and Indika Energy (INDY IJ).
The was also a macro insight on Singapore, a sector insight on Indonesian Banks, and credit insights on Lippo Karawaci (LPKR IJ) and Pertamina Geothermal Energy PT (PGEO IJ).
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - GoTo's Pivot, Astra's Sustainability Push, and Mayora Indah

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo Gojek Tokopedia (GOTO IJ)</a>, <a href="https://www.smartkarma.com/entities/ramayana-lestari-sentosa-tbk-pt" target="_blank" data-smartkarma-citation="entities:12266:1" rel="noopener">Ramayana Lestari Sentosa (RALS IJ)</a>, <a href="https://www.smartkarma.com/entities/pakuwon-jati-tbk-pt" target="_blank" data-smartkarma-citation="entities:8550:1" rel="noopener">Pakuwon Jati (PWON IJ)</a>, <a href="https://www.smartkarma.com/entities/charoen-pokphand-foods-public-company-limited" target="_blank" data-smartkarma-citation="entities:16131:1" rel="noopener">CP FOODS (CPF TB)</a>, and Thai Credit Bank IPO. </li>
<li>The was also a strategy piece on Indonesia as the pre-election jostling heats up and a macro insight on Thailand after the new PM's maiden policy speech, which was underwhelming.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on GoTo Gojek Tokopedia (GOTO IJ), Ramayana Lestari Sentosa (RALS IJ), Pakuwon Jati (PWON IJ), CP FOODS (CPF TB), and Thai Credit Bank IPO. 
The was also a strategy piece on Indonesia as the pre-election jostling heats up and a macro insight on Thailand after the new PM's maiden policy speech, which was underwhelming.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - GoTo Initiatives, Ramayana Lestari, and Indonesia Strategy.

Indonesia

Ciputra Development is one of Indonesia's leading and most diversified property companies. It specializes in developing and managing residential, commercial, and mixed-use properties, including houses, apartments, offices, shopping centers, hotels, hospitals, and golf courses. The company was founded in 1981 and is headquartered in Jakarta, Indonesia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ciputra Development (CTRA IJ)

The Week That Was in ASEAN@Smartkarma - SingTel & Optus, Jollibee Foods, and 14 Thai Stocks

The past week saw insights on Singtel (ST SP) and Optus, Jollibee Foods (JFC PM), MK Restaurants Group (M TB) and Agung Podomoro Land (APLN IJ).

Angus Mackintosh

Property: Stable 4Q23 Marketing Sales Growth (OVERWEIGHT)

Majority of property developers’ marketing sales showed stable growth of 0-2% yoy in 4Q23, with CTRA showing the strongest at 45% yoy.

BRI Danareksa Research

The Week That Was in ASEAN@Smartkarma - LREIT's Focussed, Berli Jucker, and AEM's Inventory Loss

The Past Week saw insights on Lendlease Global Commercial REIT, Berli Jucker (BJC TB), AEM (AEM SP), Airports of Thailand (AOT TB), and the...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - GoTo's Pivot, Astra's Sustainability Push, and Mayora Indah

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - GoTo Initiatives, Ramayana Lestari, and Indonesia Strategy.

The past week saw insights on GoTo Gojek Tokopedia (GOTO IJ), Ramayana Lestari Sentosa (RALS IJ), Pakuwon Jati (PWON IJ), CP FOODS (CPF TB), and...

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)