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

Puregold Price Club - Slow and steady (PGOLD PM, CP PHP30.35, BUY, TP PHP49.00, Consumer Discretionary)

Puregold Price Club - Strong SSSG momentum

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/puregold-price-club-inc" target="_blank" data-smartkarma-citation="entities:13890:1" rel="noopener">Puregold Price Club (PGOLD PM)</a> is now the largest groceries company by market share in the Philippines, recently overtaking SM Retail, through its Puregold and S&amp;R Warehouse stores. </li>
<li>The company's S&amp;R Warehouse is a members-only big box retailer aiming at more affluent consumers, whilst Puregold stores cater for both Sari Sari (mom&amp;pop) and less affluent consumers. </li>
<li>
<a href="https://www.smartkarma.com/entities/puregold-price-club-inc" target="_blank" data-smartkarma-citation="entities:13890:1" rel="noopener">Puregold Price Club</a> booked a solid start to the year, despite seasonal disruptions, with management remaining confident about the outlook for FY2025. Valuations are attractive. </li>
</ul>



Puregold Price Club (PGOLD PM) is now the largest groceries company by market share in the Philippines, recently overtaking SM Retail, through its Puregold and S&amp;R Warehouse stores. 
The company's S&amp;R Warehouse is a members-only big box retailer aiming at more affluent consumers, whilst Puregold stores cater for both Sari Sari (mom&amp;pop) and less affluent consumers. 

Puregold Price Club booked a solid start to the year, despite seasonal disruptions, with management remaining confident about the outlook for FY2025. Valuations are attractive. 


Puregold Price Club (PGOLD PM) - Members Bring Benefits