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

Grab: Strong Momentum + Management Is Buying

Grab Holdings (GRAB US) - Facing Off the Competition

Grab Holdings (GRAB US) - High-Value Products Take the Helm

Grab Holdings (GRAB US) - Harvesting Product-Led Initiatives

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>Despite headwinds from geopolitical events, surging fuel prices and regulatory headwinds in Indonesia, Grab released yet another knockout set of results, after which the company increased FY2026 guidance.</li>
<li>Grab balanced affordable product growth to expand its ecosystem, with high-value products, combining to improve both volumes and profitability, with Grab Unlimited and Grab Mart continuing to grow in importance.</li>
<li>Grab’s financial services booked the strongest segmental growth and is forecast to break even in 2H2026. Grab remains a core consumer proxy for ASEAN, booking increasingly profitable and sustainable growth.</li>
</ul>


Despite headwinds from geopolitical events, surging fuel prices and regulatory headwinds in Indonesia, Grab released yet another knockout set of results, after which the company increased FY2026 guidance.
Grab balanced affordable product growth to expand its ecosystem, with high-value products, combining to improve both volumes and profitability, with Grab Unlimited and Grab Mart continuing to grow in importance.
Grab’s financial services booked the strongest segmental growth and is forecast to break even in 2H2026. Grab remains a core consumer proxy for ASEAN, booking increasingly profitable and sustainable growth.


Grab

Grab Holdings (GRAB IJ) - Record Breaker