ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

In Equity Sales and Research for more than 25 years covering Asian markets. Possesses in-depth knowledge of a wide range of companies, economies, and markets in Asia. Over his career, he has specialised in HK/China and ASEAN markets at various different Investment Banks, most recently heading equities in Indonesia for Bank of America Merrill Lynch in Jakarta for more than three years. Whilst in Jakarta, he produced a well-read daily and weekly product on the Indonesian market, which included company visits, as well as political, economic and sector commentary. A former racing skier, who enjoys ultra-marathons and surfing in his spare time.

ASEAN Insight Provider

Erajaya Swasembada (ERAA IJ) - Affordability Rocks

Erajaya Swasembada (ERAA IJ) - Set up for a Stronger 2025

Mitra Adiperkasa (MAPI IJ) - Strong Finisher

Mr DIY Indonesia IPO - Prefer Aspirasi Hidup Indonesia (ACES IJ)

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/erajaya-swasembada-tbk-pt" target="_blank" data-smartkarma-citation="entities:18869:1" rel="noopener">Erajaya (ERAA IJ)</a> is Indonesia’s largest handset and tablet retailer and distributor through its own Erafone shops and mono-brand outlets, with iBox being the largest Apple reseller in Indonesia.</li>
<li>The handset business has seen a surge in SSSG in October and November due to iPhone 17 sales, which will continue to drive sales in December. </li>
<li>Erajaya has also seen a strong performance from its IoT, active, and F&amp;B verticals, with Chagee its latest launch. Erajaya is increasingly being viewed as a retail proxy in Indonesia.</li>
</ul>



Erajaya (ERAA IJ) is Indonesia’s largest handset and tablet retailer and distributor through its own Erafone shops and mono-brand outlets, with iBox being the largest Apple reseller in Indonesia.
The handset business has seen a surge in SSSG in October and November due to iPhone 17 sales, which will continue to drive sales in December. 
Erajaya has also seen a strong performance from its IoT, active, and F&amp;B verticals, with Chagee its latest launch. Erajaya is increasingly being viewed as a retail proxy in Indonesia.


Erajaya Swasembada

Erajaya (ERAA IJ) - A Rising Retail Star