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>CrossASEAN Ground Zero is a new thematic weekly product that will focus on key Southeast Asian digital themes and technology trends with a core focus on Indonesia. </li>
<li>This week is focused on GoTo's sustainability credentials and the recent scientific validation of its emission targets. </li>
<li>2024 will also see a ramp-up of Indonesia's 2W EV charging infrastructure to power growth in numbers. We also look at key themes in 2024 for the digital economy.</li>
</ul>


CrossASEAN Ground Zero is a new thematic weekly product that will focus on key Southeast Asian digital themes and technology trends with a core focus on Indonesia. 
This week is focused on GoTo's sustainability credentials and the recent scientific validation of its emission targets. 
2024 will also see a ramp-up of Indonesia's 2W EV charging infrastructure to power growth in numbers. We also look at key themes in 2024 for the digital economy.


CrossASEAN Ground Zero - GoTo's Sustainability Verified, 2W EVs, and the Stormy Year Ahead

<ul>
<li>The Past week saw insights of <a href="https://www.smartkarma.com/entities/prodia-widyahusada" target="_blank" data-smartkarma-citation="entities:23663:1" rel="noopener">Prodia (PRDA IJ)</a>, <a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab Holdings (GRAB US)</a>, <a href="https://www.smartkarma.com/entities/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata (EXCL IJ)</a>, <a href="https://www.smartkarma.com/entities/kalbe-farma-tbk-pt" target="_blank" data-smartkarma-citation="entities:6303:1" rel="noopener">Kalbe Farma (KLBF IJ)</a>, <a href="https://www.smartkarma.com/entities/bank-mandiri-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:441:1" rel="noopener">Bank Mandiri (BMRI IJ)</a>, and <a href="https://www.smartkarma.com/entities/pyridam-farma-tbk-pt" target="_blank" data-smartkarma-citation="entities:12900:1" rel="noopener">Pyridam Farma (PYFA IJ)</a>.</li>
<li>The was also an insight on <a href="https://www.smartkarma.com/entities/thonburi-healthcare-group-pcl" target="_blank" data-smartkarma-citation="entities:24386:1" rel="noopener">Thonburi Healthcare Group (THG TB)</a> and a sector piece looking at the beleaguered Vietnamese Real Estate sector. </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 of Prodia (PRDA IJ), Grab Holdings (GRAB US), XL Axiata (EXCL IJ), Kalbe Farma (KLBF IJ), Bank Mandiri (BMRI IJ), and Pyridam Farma (PYFA IJ).
The was also an insight on Thonburi Healthcare Group (THG TB) and a sector piece looking at the beleaguered Vietnamese Real Estate sector. 
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 - Prodia's Recovery, Grab in 2024, and Kalbe Farma Primed

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/ace-hardware-indonesia" target="_blank" data-smartkarma-citation="entities:12808:1" rel="noopener">Ace Hardware Indonesia (ACES IJ)</a>, <a href="https://www.smartkarma.com/entities/akr-corporindo-tbk-pt" target="_blank" data-smartkarma-citation="entities:13338:1" rel="noopener">AKR Corporindo (AKRA IJ)</a>, <a href="https://www.smartkarma.com/entities/oue-commercial-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:912:1" rel="noopener">OUE Commercial REIT (OUECT SP)</a>, <a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo (GOTO IJ)</a>, and <a href="https://www.smartkarma.com/entities/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea (SE US)</a>.</li>
<li>There was also a macro insight looking at Myanmar, an insight looking at Vietnam's most recent index rebalance, and a credit insight on <a href="https://www.smartkarma.com/entities/lippo-malls-indonesia-retail-trust" target="_blank" data-smartkarma-citation="entities:10946:1" rel="noopener">Lippo Malls Indonesia Retail Trust (LMRT SP).</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 Ace Hardware Indonesia (ACES IJ), AKR Corporindo (AKRA IJ), OUE Commercial REIT (OUECT SP), GoTo (GOTO IJ), and Sea (SE US).
There was also a macro insight looking at Myanmar, an insight looking at Vietnam's most recent index rebalance, and a credit insight on Lippo Malls Indonesia Retail Trust (LMRT SP). 
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 - Ace Hardware Shines, AKRA's Positive, and GoTo's TikTok Move

<ul>
<li>Indonesia's election race is about to begin with the Presidential candidates announcing running mates on 26th October and with campaigns that could boost consumer demand. </li>
<li>The Indonesian economy should see GDP growth above 5% in 2023 and 2024, with inflation already under control at 2.28% in September. FDI remains positive although may slow before elections. </li>
<li>We explore the prospects for different sectors with a positive view on banks, retail, consumer staples, property, and <a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International</a> as a market proxy, with some opportunities in tech.</li>
</ul>


Indonesia's election race is about to begin with the Presidential candidates announcing running mates on 26th October and with campaigns that could boost consumer demand. 
The Indonesian economy should see GDP growth above 5% in 2023 and 2024, with inflation already under control at 2.28% in September. FDI remains positive although may slow before elections. 
We explore the prospects for different sectors with a positive view on banks, retail, consumer staples, property, and Astra International as a market proxy, with some opportunities in tech.


Indonesian Strategy - Election Race Hots Up Amidst Profits Recovery

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>In our prior EM Strategy (August 7, 2023) we discussed how MSCI EM (EEM-US) was near major 1+ year resistance at $42.</li>
<li>After being unable to break out, EEM-US consolidation has continued, and is again approaching major 10.5-month support at $37-$37.50, which has been our important line-in-the-sand throughout 2023.</li>
<li>As long as EEM-US is above $37, we are buyers on this pullback.</li>
</ul>


In our prior EM Strategy (August 7, 2023) we discussed how MSCI EM (EEM-US) was near major 1+ year resistance at $42.
After being unable to break out, EEM-US consolidation has continued, and is again approaching major 10.5-month support at $37-$37.50, which has been our important line-in-the-sand throughout 2023.
As long as EEM-US is above $37, we are buyers on this pullback.


MSCI EM Index Approaching 10.5-Month Support; Remain Overweight India; Many EM Buys

Indonesia

Bank Negara Indonesia (BNI) is an Indonesian state-owned bank providing a comprehensive range of commercial and consumer banking products and services. These include savings, loans, credit cards, wealth management, trade finance, and digital banking solutions. Established on July 5, 1946, it is headquartered in Jakarta, Indonesia.

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Bank Negara Indonesia (BBNI IJ)

CrossASEAN Ground Zero - GoTo's Sustainability Verified, 2W EVs, and the Stormy Year Ahead

CrossASEAN Ground Zero is a new thematic weekly product that will focus on key Southeast Asian digital themes and technology trends with a core...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - Prodia's Recovery, Grab in 2024, and Kalbe Farma Primed

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 - Ace Hardware Shines, AKRA's Positive, and GoTo's TikTok Move

The past week saw insights on Ace Hardware Indonesia (ACES IJ), AKR Corporindo (AKRA IJ), OUE Commercial REIT (OUECT SP), GoTo (GOTO IJ), and Sea...

Angus Mackintosh

Indonesian Strategy - Election Race Hots Up Amidst Profits Recovery

We explore the prospects across different sectors in Indonesia with a positive view on banks, retail, consumer staples, property, and Astra...

Angus Mackintosh

MSCI EM Index Approaching 10.5-Month Support; Remain Overweight India; Many EM Buys

$EEM is again approaching major 10.5-month support at $37-$37.50, which has been our important line-in-the-sand throughout 2023. As long as $EEM is...

Vermilion Research

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