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/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea Ltd (SE US)</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/cisarua-mountain-dairy-pt-tbk" target="_blank" data-smartkarma-citation="entities:34999:1" rel="noopener">Cisarua Mountain Dairy (CMRY IJ)</a>, <a href="https://www.smartkarma.com/entities/ammb-holdings-bhd" target="_blank" data-smartkarma-citation="entities:137:1" rel="noopener">AMMB Holdings (AMM MK)</a>, and <a href="https://www.smartkarma.com/entities/sheng-siong-group-ltd" target="_blank" data-smartkarma-citation="entities:6824:1" rel="noopener">Sheng Siong (SSG SP)</a>.</li>
<li>There were also macro insights on Malaysia, Thailand, and the Philippines, a sector insight on Malaysian Banks, and a credit insight on <a href="https://www.smartkarma.com/entities/delta-dunia-makmur-tbk-pt" target="_blank" data-smartkarma-citation="entities:9334:1" rel="noopener">Delta Dunia Makmur (DOID 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 Sea Ltd (SE US), Grab Holdings (GRAB US), Cisarua Mountain Dairy (CMRY IJ), AMMB Holdings (AMM MK), and Sheng Siong (SSG SP).
There were also macro insights on Malaysia, Thailand, and the Philippines, a sector insight on Malaysian Banks, and a credit insight on Delta Dunia Makmur (DOID 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 - Sea Ltd's Scale, Cimory's Dairy Recovery, and AMMB Placement

<ul>
<li>The past week saw insights on Indonesia's election, <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/bangkok-dusit-medical-services-pcl" target="_blank" data-smartkarma-citation="entities:875:1" rel="noopener">Bangkok Dusit Medical Services (BDMS TB)</a>, <a href="https://www.smartkarma.com/entities/delta-electronics-thailand-pcl-98806732-8ac4-42b2-a565-ba32673d1e5a" target="_blank" data-smartkarma-citation="entities:20912:1" rel="noopener">Delta Electronics Thailand</a>, <a href="https://www.smartkarma.com/entities/singapore-airlines-ltd" target="_blank" data-smartkarma-citation="entities:74:1" rel="noopener">Singapore Airlines (SIA SP)</a>, and <a href="https://www.smartkarma.com/entities/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea Ltd (SE US)</a>.</li>
<li>There were also insights on Indonesia and Singapore, a sector view on the EV ecosystem in Southeast Asia, a sector view on Indonesian banks, and ASEAN's EV Ecosystem.</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 Indonesia's election, Grab Holdings (GRAB US), Bangkok Dusit Medical Services (BDMS TB), Delta Electronics Thailand, Singapore Airlines (SIA SP), and Sea Ltd (SE US).
There were also insights on Indonesia and Singapore, a sector view on the EV ecosystem in Southeast Asia, a sector view on Indonesian banks, and ASEAN's EV Ecosystem.
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 - Bangkok Dusit, Grab Results, and Indonesia's Election

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>Gaming sector: NPPA deleted the page of &lt;Online Games Governing Measure (Opinion Seeking Draft)&gt;(/)</li>
<li>JD/BABA/PDD: JD to be exclusive platform for CCTV 2024 Spring Festival Gala (+/-/-)</li>
<li>PDD/BABA/AMZN : Temu to launch semi-managed model in March (+/-/-)</li>
</ul>


Gaming sector: NPPA deleted the page of &lt;Online Games Governing Measure (Opinion Seeking Draft)&gt;(/)
JD/BABA/PDD: JD to be exclusive platform for CCTV 2024 Spring Festival Gala (+/-/-)
PDD/BABA/AMZN : Temu to launch semi-managed model in March (+/-/-)


[Blue Lotus Daily - TMT Update]:Gaming Sector/JD/BABA/PDD/BABA/AMZN

<ul>
<li>TCOM/1024 HK/3690 HK/780 HK: Ctrip cooperate with Kuaishou to promote traveling products(+/+/-/-)</li>
<li>PDD/ZTO/1519 HK: PDD partners with ZTO and J&amp;T for upcoming “Open during Spring Festival” event (+/+/+)</li>
<li>PDD/ SHEIN/ AMZN/ SE/ CPNG/ MELI: Temu planning to add 3P model (+/-)</li>
</ul>


TCOM/1024 HK/3690 HK/780 HK: Ctrip cooperate with Kuaishou to promote traveling products(+/+/-/-)
PDD/ZTO/1519 HK: PDD partners with ZTO and J&amp;T for upcoming “Open during Spring Festival” event (+/+/+)
PDD/ SHEIN/ AMZN/ SE/ CPNG/ MELI: Temu planning to add 3P model (+/-)


[Blue Lotus Daily - TMT Update]:TCOM/1024 HK/3690 HK/780 HK/PDD/ZTO/1519 HK/SHEIN/AMZN/SE/CPNG/MELI

<ul>
<li>CrossASEAN Ground Zero is a new thematic weekly product that focuses on key Southeast Asian digital themes and technology trends with a core focus on Indonesia.</li>
<li>This week we look at the prospects and dynamics for e-commerce in Indonesia after a down-year by value in 2023, with a heating of the competitive landscape a likely feature.</li>
<li>We also look at the IPO market for 2024, after 2023 saw several delayed listings, some of which may return to market but likely in 2H due to impending elections. </li>
</ul>


CrossASEAN Ground Zero is a new thematic weekly product that focuses on key Southeast Asian digital themes and technology trends with a core focus on Indonesia.
This week we look at the prospects and dynamics for e-commerce in Indonesia after a down-year by value in 2023, with a heating of the competitive landscape a likely feature.
We also look at the IPO market for 2024, after 2023 saw several delayed listings, some of which may return to market but likely in 2H due to impending elections. 


CrossASEAN Ground Zero - E-Commerce Down and What of the 2024 IPO Market?

Singapore

Sea Limited is a Singapore-based global technology company founded in 2009. It operates three core businesses: digital entertainment through Garena, e-commerce via Shopee, and digital financial services under Monee. The company is headquartered in Singapore.

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Sea Ltd (SE US)

The Week That Was in ASEAN@Smartkarma - Sea Ltd's Scale, Cimory's Dairy Recovery, and AMMB Placement

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 - Bangkok Dusit, Grab Results, and Indonesia's Election

The past week saw insights on Indonesia's election, Grab Holdings (GRAB US), Bangkok Dusit Medical Services (BDMS TB), Delta Electronics Thailand,...

Angus Mackintosh

[Blue Lotus Daily - TMT Update]:Gaming Sector/JD/BABA/PDD/BABA/AMZN

NPPA deletes online gaming measure page; JD becomes exclusive platform for CCTV Gala; Temu to launch semi-managed model in March.

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:TCOM/1024 HK/3690 HK/780 HK/PDD/ZTO/1519 HK/SHEIN/AMZN/SE/CPNG/MELI

Ctrip teams up with Kuaishou to boost travel offerings; PDD collaborates with ZTO and J&T for Spring Festival event; and Temu considers adding 3P...

Blue Lotus Research Institute

CrossASEAN Ground Zero - E-Commerce Down and What of the 2024 IPO Market?

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

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Week That Was in ASEAN@Smartkarma - Sea Ltd's Scale, Cimory's Dairy Recovery, and AMMB Placement

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 - Bangkok Dusit, Grab Results, and Indonesia's Election

The past week saw insights on Indonesia's election, Grab Holdings (GRAB US), Bangkok Dusit Medical Services (BDMS TB), Delta Electronics Thailand,...

Angus Mackintosh

[Blue Lotus Daily - TMT Update]:Gaming Sector/JD/BABA/PDD/BABA/AMZN

​NPPA deletes online gaming measure page; JD becomes exclusive platform for CCTV Gala; Temu to launch semi-managed model in March.

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:TCOM/1024 HK/3690 HK/780 HK/PDD/ZTO/1519 HK/SHEIN/AMZN/SE/CPNG/MELI

​Ctrip teams up with Kuaishou to boost travel offerings; PDD collaborates with ZTO and J&T for Spring Festival event; and Temu considers adding 3P...

Blue Lotus Research Institute

CrossASEAN Ground Zero - E-Commerce Down and What of the 2024 IPO Market?

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

Angus Mackintosh

NPPA deletes online gaming measure page; JD becomes exclusive platform for CCTV Gala; Temu to launch semi-managed model in March.

Ctrip teams up with Kuaishou to boost travel offerings; PDD collaborates with ZTO and J&T for Spring Festival event; and Temu considers adding 3P...