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

Sarimelati Kencana PT (PZZA IJ) - Emerging from the Oven

Sarimelati Kencana PT (PZZA IJ) - Serving Up the Nation

Sarimelati Kencana (PZZA IJ) - Profitable New Beginnings

Grab Holdings (GRAB US) - High-Value Products Take the Helm

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 recent call with <a href="https://www.smartkarma.com/entities/sarimelati-kencana-pt" target="_blank" data-smartkarma-citation="entities:27011:1" rel="noopener">Sarimelati Kencana (PZZA IJ)</a> revealed a positive outlook for 4Q2025, after a challenging 3Q, but the company remained profitable for the 4th quarter in a row</li>
<li>The company is adding new outlets selectively, continuing renovations and continuing to drive Ristorante outlets. It has launched a more affordable line of products at Pizza Hut Delivery (PHD) outlets.</li>
<li>PZZA looks set to continue to see a strong recovery, with boycott impact lessening, and a lower monthly sales break-even, driven by greater efficiencies, with recovery in profitability well-set.</li>
</ul>


A recent call with Sarimelati Kencana (PZZA IJ) revealed a positive outlook for 4Q2025, after a challenging 3Q, but the company remained profitable for the 4th quarter in a row
The company is adding new outlets selectively, continuing renovations and continuing to drive Ristorante outlets. It has launched a more affordable line of products at Pizza Hut Delivery (PHD) outlets.
PZZA looks set to continue to see a strong recovery, with boycott impact lessening, and a lower monthly sales break-even, driven by greater efficiencies, with recovery in profitability well-set.


사리멜라티 켄카나(PZZA IJ) - 신선한 피자