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

The Week That Was in ASEAN@Smartkarma - Indonesian Media, Thai Beer, and Banks

PT Surya Citra Media Tbk (SCMA IJ) - From Analog to Digital

PT Surya Citra Media Tbk (SCMA IJ) - Looking Forward to a Digital Fuelled Future

PT Surya Citra Media Tbk (SCMA IJ) - Tencent Buying IFlix a Sign?

PT Surya Citra Media Tbk (SCMA IJ) - Let the Games Begin

Emtek (EMTK IJ) - Arise a New Champion of Indonesia Tech?

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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

PT Surya Citra Media Tbk / Equity Bottom-Up

A call for an update with <a href="https://www.smartkarma.com/entities/surya-citra-media-pt-tbk" target="_blank" data-smartkarma-citation="entities:14739:1" rel="noopener">PT Surya Citra Media Tbk (SCMA IJ)</a> revealed a positive outlook for 2021, with a keen focus on regaining some audience share from <a href="https://www.smartkarma.com/entities/media-nusantara-citra-tbk-pt" target="_blank" data-smartkarma-citation="entities:6881:1" rel="noopener">Media Nusantara Citra (MNCN IJ)</a>.
<a href="https://www.smartkarma.com/entities/media-nusantara-citra-tbk-pt" target="_blank" data-smartkarma-citation="entities:6881:1" rel="noopener">Media Nusantara Citra (MNCN IJ)</a> has had massive success with its drama series Iketan Cinta and talent shows such as Indonesian Idol, sometimes controlling over 50% audience share.
<a href="https://www.smartkarma.com/entities/surya-citra-media-pt-tbk" target="_blank" data-smartkarma-citation="entities:14739:1" rel="noopener">PT Surya Citra Media Tbk (SCMA IJ</a> launched two new drama shows in January, which have helped to push up SCTV's ratings points into the mid-teens in Janaury.
Demand for TV advertising remains impacted by COVID-19 with e-commerce, consumer health, and obviously FMCG driving demand in an overall soft environment. 
One positive take on <a href="https://www.smartkarma.com/entities/media-nusantara-citra-tbk-pt" target="_blank" data-smartkarma-citation="entities:6881:1" rel="noopener">Media Nusantara Citra (MNCN IJ)</a> very strong audience share is that pricing remains firm. Given its strong position, it is unlikely to be cutting prices. 
Vidio.com continues to see strong performance, with MAUs between 50m-60m and paying subscribers of 970,000. There is strong potential to convert MAUs to paying subs.

A call for an update with PT Surya Citra Media Tbk (SCMA IJ) revealed a positive outlook for 2021, with a keen focus on regaining some audience share from Media Nusantara Citra (MNCN IJ).
Media Nusantara Citra (MNCN IJ) has had massive success with its drama series Iketan Cinta and talent shows such as Indonesian Idol, sometimes controlling over 50% audience share.
PT Surya Citra Media Tbk (SCMA IJ launched two new drama shows in January, which have helped to push up SCTV's ratings points into the mid-teens in Janaury.
Demand for TV advertising remains impacted by COVID-19 with e-commerce, consumer health, and obviously FMCG driving demand in an overall soft environment. 
One positive take on Media Nusantara Citra (MNCN IJ) very strong audience share is that pricing remains firm. Given its strong position, it is unlikely to be cutting prices. 
Vidio.com continues to see strong performance, with MAUs between 50m-60m and paying subscribers of 970,000. There is strong potential to convert MAUs to paying subs.

PT Surya Citra Media Tbk (SCMA IJ) - Playing Catch Up WIth a Digital Twist