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

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/lippo-karawaci-tbk-pt" target="_blank" data-smartkarma-citation="entities:3121:1" rel="noopener">Lippo Karawaci's</a> results made for interesting reading with underlying profitability improving in its real estate and lifestyle segments as it reduced its Siloam stake and reduced its debt.</li>
<li>Real estate marketing sales in 1H2024 made up 58% of FY2024 guidance, with affordable landed housing driving growth across multiple projects targeting first-time buyers utilising readily available mortgages.</li>
<li>LPKR further reduced its holding in <a href="https://www.smartkarma.com/entities/siloam-international-hospitals" target="_blank" data-smartkarma-citation="entities:878:1" rel="noopener">Siloam International Hospitals</a> in September through the tender offer and will further reduce its debt with proceeds. LPKR is back on the investor radar.</li>
</ul>



Lippo Karawaci's results made for interesting reading with underlying profitability improving in its real estate and lifestyle segments as it reduced its Siloam stake and reduced its debt.
Real estate marketing sales in 1H2024 made up 58% of FY2024 guidance, with affordable landed housing driving growth across multiple projects targeting first-time buyers utilising readily available mortgages.
LPKR further reduced its holding in Siloam International Hospitals in September through the tender offer and will further reduce its debt with proceeds. LPKR is back on the investor radar.


Lippo Karawaci (LPKR IJ) - Building Solid Foundations