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

Integra Indocabinet Tbk PT (WOOD IJ) - The Stars Are Aligned for WOOD

Integra Indocabinet (WOOD IJ) - A Polished Start to the Year

Integra Indocabinet Tbk PT (WOOD IJ) - Flatpack Wonder - On the Ground in J-Town

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

Integra Indocabinet Tbk PT / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/integra-indocabinet-tbk-pt" target="_blank" data-smartkarma-citation="entities:27356:1" rel="noopener">Integra Indocabinet</a> recently reported 9M2022 results, which painted a less rosy picture than at the mid-year stage, with sales growth of +10.6% versus +46% YoY for 1H2022.</li>
<li>A key change has been the drop off in demand for components for US housing given inflationary pressure and rising rates, which led to higher inventories with distributors. </li>
<li>
<a href="https://www.smartkarma.com/entities/integra-indocabinet-tbk-pt" target="_blank" data-smartkarma-citation="entities:27356:1" rel="noopener">Integra</a> recently downgraded guidance for FY2022 to reflect the less optimistic outlook though remains upbeat on a recovery in 2023, as inventories clear and it goes direct to retailers.</li>
</ul>



Integra Indocabinet recently reported 9M2022 results, which painted a less rosy picture than at the mid-year stage, with sales growth of +10.6% versus +46% YoY for 1H2022.
A key change has been the drop off in demand for components for US housing given inflationary pressure and rising rates, which led to higher inventories with distributors. 

Integra recently downgraded guidance for FY2022 to reflect the less optimistic outlook though remains upbeat on a recovery in 2023, as inventories clear and it goes direct to retailers.


Integra Indocabinet (WOOD IJ) - Short-Term Log Jam but Long-Term Promise