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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vinfast-auto-ltd" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">Vinfast (VFS US)</a> continues to progress in building out its EV brand, being the number one auto brand in Vietnam, and expanding into Indonesia, the Philippines, India, and the US.</li>
<li>A key trend for <a href="https://www.smartkarma.com/entities/vinfast-auto-ltd" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">Vinfast (VFS US)</a> has been the shift in sales to related GSM towards direct retail sales, which now make up around 80% of total EV sales.</li>
<li>Its strategies to showcase EVs through ride-hailing, leasing batteries, providing captive charging infrastructure, and guaranteed resale values are proving to be successful one, being rolled out across markets. </li>
</ul>



Vinfast (VFS US) continues to progress in building out its EV brand, being the number one auto brand in Vietnam, and expanding into Indonesia, the Philippines, India, and the US.
A key trend for Vinfast (VFS US) has been the shift in sales to related GSM towards direct retail sales, which now make up around 80% of total EV sales.
Its strategies to showcase EVs through ride-hailing, leasing batteries, providing captive charging infrastructure, and guaranteed resale values are proving to be successful one, being rolled out across markets. 


Vinfast (VFS US) - Direct-To-Consumer Taking Over

<ul>
<li>
<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</a> remains optimistic for the coming year, with increasing focus on converting hemat users to take up more premium products and it expands its suite of fintech offerings. </li>
<li>Focus on profitability will remain core, with an emphasis on product-led initiatives such as GoFood Plus and GoFood Express, and increasing emphasis on growing its fintech offering across products. </li>
<li>GoTo is increasingly using AI to improve both the customer experience and improve efficiencies. Advertising will increasingly become a tool to improve take rates with Tokopedia providing valuable cash flow.  </li>
</ul>



GoTo Gojek Tokopedia remains optimistic for the coming year, with increasing focus on converting hemat users to take up more premium products and it expands its suite of fintech offerings. 
Focus on profitability will remain core, with an emphasis on product-led initiatives such as GoFood Plus and GoFood Express, and increasing emphasis on growing its fintech offering across products. 
GoTo is increasingly using AI to improve both the customer experience and improve efficiencies. Advertising will increasingly become a tool to improve take rates with Tokopedia providing valuable cash flow.  


GoTo Gojek Tokopedia (GOTO IJ) - Barbell Strategies and Fintech to Dominate in 2025

External broker reports(aggregated public sources), Vietcap

Vietcap

External broker reports(aggregated public sources)

We specialize in consulting both individual and institutional clients, providing them with effective financial solutions that are tailored to their specific needs.

<ul><li>We participated in VinFast’s (Nasdaq: VFS) Q2 2024 earnings call held on September 20.</li><li>The main updates include a recap of H1 2024 results and the business outlook for H2 2024.</li><li>Management reaffirmed its 2024G delivery guidance of 80,000 EVs, citing the company’s diverse EV product portfolio, access to multiple markets, and ongoing execution plans as supporting factors.</li></ul>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.

We participated in VinFast’s (Nasdaq: VFS) Q2 2024 earnings call held on September 20.The main updates include a recap of H1 2024 results and the business outlook for H2 2024.Management reaffirmed its 2024G delivery guidance of 80,000 EVs, citing the company’s diverse EV product portfolio, access to multiple markets, and ongoing execution plans as supporting factors.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.

VinFast's (Nasdaq: VFS) - Key Takeaways from Q2 2024 Earnings Call

<ul><li>We participated in VinFast’s (Nasdaq: VFS) Q2 2024 earnings call held on September 20.</li><li>The main updates include a recap of H1 2024 results and the business outlook for H2 2024.</li><li>Management reaffirmed its 2024G delivery guidance of 80,000 EVs, citing the company’s diverse EV product portfolio, access to multiple markets, and ongoing execution plans as supporting factors. </li></ul>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.

We participated in VinFast’s (Nasdaq: VFS) Q2 2024 earnings call held on September 20.The main updates include a recap of H1 2024 results and the business outlook for H2 2024.Management reaffirmed its 2024G delivery guidance of 80,000 EVs, citing the company’s diverse EV product portfolio, access to multiple markets, and ongoing execution plans as supporting factors. 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.

VinFast Auto Ltd - Key Takeaways from Q2 2024 Earnings Call

<ul>
<li>
<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</a> together with <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group Holding</a> announced a strategic partnership that locks the latter in for the next 5-years, with GOTO committing to utilising Alibaba Cloud.</li>
<li>This move lifts a significant share price overhang and should provide GOTO with both cost benefits and AI capabilities cementing and aligning the interests of the two companies. </li>
<li>
<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> continues to move the needle on its progress towards adjusted EBITDA breakeven by 4Q2024 led by product-led initiatives. </li>
</ul>



GoTo Gojek Tokopedia together with Alibaba Group Holding announced a strategic partnership that locks the latter in for the next 5-years, with GOTO committing to utilising Alibaba Cloud.
This move lifts a significant share price overhang and should provide GOTO with both cost benefits and AI capabilities cementing and aligning the interests of the two companies. 

GoTo Gojek Tokopedia (GOTO IJ) continues to move the needle on its progress towards adjusted EBITDA breakeven by 4Q2024 led by product-led initiatives. 


GoTo Gojek Tokopedia(GOTO IJ) - Lifting Clouds

Vietnam

VinFast is a Vietnamese multinational automotive company specializing in the design and manufacture of electric vehicles (EVs), e-scooters, and e-buses. The company offers a range of electric cars and provides related battery lease and charging services. VinFast was founded in June 2017 and is headquartered in Hai Phong, Vietnam.

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VinFast (VFS US)

Vinfast (VFS US) - Direct-To-Consumer Taking Over

Vinfast's strategies to showcase EVs through ride-hailing, leasing batteries, captive charging infrastructure, and guaranteed resale values are...

Angus Mackintosh

GoTo Gojek Tokopedia (GOTO IJ) - Barbell Strategies and Fintech to Dominate in 2025

GoTo Gojek Tokopedia remains optimistic for the coming year, with an increasing focus on converting hemat users to take up more premium products...

Angus Mackintosh

VinFast's (Nasdaq: VFS) - Key Takeaways from Q2 2024 Earnings Call

We participated in VinFast’s (Nasdaq: VFS) Q2 2024 earnings call held on September 20.The main updates include a recap of H1 2024 results and the...

Vietcap

VinFast Auto Ltd - Key Takeaways from Q2 2024 Earnings Call

We participated in VinFast’s (Nasdaq: VFS) Q2 2024 earnings call held on September 20. The main updates include a recap of H1 2024 results and the...

Vietcap

GoTo Gojek Tokopedia(GOTO IJ) - Lifting Clouds

Alibaba's agreement to lock up its GOTO stake for 5 years in exchange for using Alibaba Cloud services lifts a share price overhang, aligning...

Angus Mackintosh

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