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

Blue Bird - Multiple Nesting Sites - On the Ground in J-Town

Indonesia Retail - The War of the Worlds (Part 2) Payment Wars - On the Ground in J -Town

The War of the Worlds (Part 3) - Going Nuclear

Blue Bird Group - Hailing at the Kerb, at the Mall and Online - 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

Thematic (Sector/Industry)

Malaysia Consumer discretionary / Thematic (Sector/Industry)

The online versus offline battle for supremacy continues apace in Indonesia and now it is the turn regulators to play their part. Firstly, an announcement from Bank Indonesia (BI) that mobile payment wallets can operate but must be licensed and even if licensed are highly restricted in terms of size. This has set the cat amongst the pigeons for a number of larger players, who do not possess a license as yet, including Tokopedia, Bukalapa, Shopee, Grab and Lazada. Even though BI looks to be tightening up on regulation in this space, it is also encouraging more cashless payment systems. Indeed the government is pushing for more non-cash payments as a way to cut off the available channels for corruption. <a href="https://www.smartkarma.com/entities/7752" target="_blank" data-smartkarma-citation="entities:7752:1">Elang Mahkota Teknologi Tbk (EMTK IJ)</a>'s JV with Ant Financial (<a href="https://www.smartkarma.com/entities/787" target="_blank" data-smartkarma-citation="entities:787:1">Alibaba Group Holding Ltd (BABA US)</a>, called Dana, is due to be launched in a week's time. It already has a license in place (in fact two through acquisitions). It will be integrated into the BBM service, which still has 63m subscribers in Indonesia. The second regulation comes from the Ministry of Transport, which has announced a new set of rules to cover both taxis (ride-hailing) and App-based transport operators. This is in the socialization stage but is due to be implemented on 1st November.<div class="content-highlight"><a href="https://www.smartkarma.com/entities/7752" target="_blank" data-smartkarma-citation="entities:7752:1">Elang Mahkota Teknologi Tbk (EMTK IJ)</a> looks to be ahead of the game with regard to e-wallets, with a license already in place for its new Dana (Purse) through its BBM service.  <a href="https://www.smartkarma.com/entities/19482" target="_blank" data-smartkarma-citation="entities:19482:1">Blue Bird Tbk Pt (BIRD IJ)</a> is well positioned to benefit from the implementation of new ride-hailing regulations, with exposure to both online and offline transport. Please see my latest insight <a href="https://www.smartkarma.com/insights/blue-bird-multiple-nesting-sites-on-the-ground-in-j-town" target="_blank" data-smartkarma-citation="insights:14161">Blue Bird - Multiple Nesting Sites</a>.</div>

The online versus offline battle for supremacy continues apace in Indonesia and now it is the turn regulators to play their part. Firstly, an announcement from Bank Indonesia (BI) that mobile payment wallets can operate but must be licensed and even if licensed are highly restricted in terms of size. This has set the cat amongst the pigeons for a number of larger players, who do not possess a license as yet, including Tokopedia, Bukalapa, Shopee, Grab and Lazada. Even though BI looks to be tightening up on regulation in this space, it is also encouraging more cashless payment systems. Indeed the government is pushing for more non-cash payments as a way to cut off the available channels for corruption. Elang Mahkota Teknologi Tbk (EMTK IJ)'s JV with Ant Financial (Alibaba Group Holding Ltd (BABA US), called Dana, is due to be launched in a week's time. It already has a license in place (in fact two through acquisitions). It will be integrated into the BBM service, which still has 63m subscribers in Indonesia. The second regulation comes from the Ministry of Transport, which has announced a new set of rules to cover both taxis (ride-hailing) and App-based transport operators. This is in the socialization stage but is due to be implemented on 1st November.Elang Mahkota Teknologi Tbk (EMTK IJ) looks to be ahead of the game with regard to e-wallets, with a license already in place for its new Dana (Purse) through its BBM service.  Blue Bird Tbk Pt (BIRD IJ) is well positioned to benefit from the implementation of new ride-hailing regulations, with exposure to both online and offline transport. Please see my latest insight Blue Bird - Multiple Nesting Sites.

宇宙戦争（パート4） - 帝国の逆襲 - Jタウン地上戦