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

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042:1" rel="noopener">Arwana Citramulia (ARNA IJ)</a> booked yet another positive set of earnings in 3Q2022 driven by increased efficiency and cost reduction leading to 32% YoY growth in profits above consensus.</li>
<li>There are a number of potential positives in 4Q related to new capacity coming on stream which should help to boost sales of the company's higher end products.</li>
<li>Consensus has caught up with the company's projects profit growth forecast of +30% for FY2022 but this may prove conservative, with valuations looking attractive on a 9x forward PER multiple.</li>
</ul>



Arwana Citramulia (ARNA IJ) booked yet another positive set of earnings in 3Q2022 driven by increased efficiency and cost reduction leading to 32% YoY growth in profits above consensus.
There are a number of potential positives in 4Q related to new capacity coming on stream which should help to boost sales of the company's higher end products.
Consensus has caught up with the company's projects profit growth forecast of +30% for FY2022 but this may prove conservative, with valuations looking attractive on a 9x forward PER multiple.


Arwana Citramulia (ARNA IJ) - Grand Master of Tiles

Indonesia

PT Arwana Citramulia Tbk manufactures and distributes ceramic and porcelain tiles in Indonesia and internationally. The company offers a diverse product portfolio under brands such as Arna, Arwana Ceramics, and UNO. It was founded in 1993 and is headquartered in Jakarta, Indonesia.

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Arwana Citramulia (ARNA IJ) - Grand Master of Tiles

Consensus for ARNA has caught up with its projected profit growth forecast of +30% for FY2022 but this may prove conservative, with valuations...

Angus Mackintosh