ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

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

Cross Asset Strategy

<ul>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.</li>
<li>The past week saw insights in <a href="https://www.smartkarma.com/entities/grab-holdings-inc" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab (GRAB US)</a>, <a href="https://www.smartkarma.com/entities/kino-indonesia" target="_blank" data-smartkarma-citation="entities:1083:1" rel="noopener">Kino Indonesia (KINO IJ)</a>, and <a href="https://www.smartkarma.com/entities/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata (EXCL IJ)</a>, as well as deal-related commentary on <a href="https://www.smartkarma.com/entities/thai-beverage-pcl" target="_blank" data-smartkarma-citation="entities:3656:1" rel="noopener">Thai Beverage</a> and <a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">True Corp</a>.</li>
<li>There were also some Index inclusion insights for Indonesia and the Philippines, as well as insights on <a href="https://www.smartkarma.com/entities/comfortdelgro-corp-ltd" target="_blank" data-smartkarma-citation="entities:497:1" rel="noopener">Comfortdelgro Corp (CD SP)</a> and <a href="https://www.smartkarma.com/entities/my-eg-services-bhd" target="_blank" data-smartkarma-citation="entities:19765:1" rel="noopener">My E.G. Services (MYEG MK)</a> in Malaysia.</li>
</ul>


The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.
The past week saw insights in Grab (GRAB US), Kino Indonesia (KINO IJ), and XL Axiata (EXCL IJ), as well as deal-related commentary on Thai Beverage and True Corp.
There were also some Index inclusion insights for Indonesia and the Philippines, as well as insights on Comfortdelgro Corp (CD SP) and My E.G. Services (MYEG MK) in Malaysia.


The Week That Was in ASEAN@Smartkarma - Grab's Maps, Kino's Beverages & Beauty, and ThaiBev's BeerCo

<ul>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.</li>
<li>The Past week saw insights on <a href="https://www.smartkarma.com/entities/bank-negara-indonesia-persero" target="_blank" data-smartkarma-citation="entities:8285:1" rel="noopener">Bank Negara Indonesia (BBNI IJ)</a>, <a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International (ASII IJ)</a>, <a href="https://www.smartkarma.com/entities/bukalapak" target="_blank" data-smartkarma-citation="entities:33575:1" rel="noopener">Bukalapak (BUKA IJ)</a>, <a href="https://www.smartkarma.com/entities/akr-corporindo-tbk-pt" target="_blank" data-smartkarma-citation="entities:13338:1" rel="noopener">AKR Corporindo (AKRA IJ)</a>, and <a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042:1" rel="noopener">Arwana Citramulia (ARNA IJ)</a> </li>
<li>We also saw a an insight on <a href="https://www.smartkarma.com/entities/blue-bird-tbk-pt" target="_blank" data-smartkarma-citation="entities:19482:1" rel="noopener">Blue Bird (BIRD IJ)</a> together with significant commentary on the ongoing Keppel Group restructuring plus an ESG angle on Carsome that may IPO.</li>
</ul>


The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.
The Past week saw insights on Bank Negara Indonesia (BBNI IJ), Astra International (ASII IJ), Bukalapak (BUKA IJ), AKR Corporindo (AKRA IJ), and Arwana Citramulia (ARNA IJ) 
We also saw a an insight on Blue Bird (BIRD IJ) together with significant commentary on the ongoing Keppel Group restructuring plus an ESG angle on Carsome that may IPO.


The Week That Was in ASEAN@Smartkarma - Astra International, Bluebird Taxi, and Keppel Restructuring

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042:1" rel="noopener">Arwana Citramulia (ARNA IJ)</a> released a strong set of 1Q2022 surpassing expectations and paving the way for strong growth in 2022 driven by an improving product mix.</li>
<li>ASPs for <a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042:1" rel="noopener">Arwana</a> are increasing through changing product mix, which is improving margins but not suppressing demand with a move to higher-end Digi Uno and ARNA products. </li>
<li>A webinar with management confirmed the positive outlook for 2022, with an estimate of +30% bottom-line growth forecast from increased volumes, greater efficiencies, and higher ASPs through improved product mix.</li>
</ul>



Arwana Citramulia (ARNA IJ) released a strong set of 1Q2022 surpassing expectations and paving the way for strong growth in 2022 driven by an improving product mix.
ASPs for Arwana are increasing through changing product mix, which is improving margins but not suppressing demand with a move to higher-end Digi Uno and ARNA products. 
A webinar with management confirmed the positive outlook for 2022, with an estimate of +30% bottom-line growth forecast from increased volumes, greater efficiencies, and higher ASPs through improved product mix.


Arwana Citramulia (ARNA IJ) A Finely Glazed Future

<ul>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.</li>
<li>The past week saw insights on Singapore's economic outlook, <a href="https://www.smartkarma.com/entities/bank-central-asia-tbk-pt" target="_blank" data-smartkarma-citation="entities:440:1" rel="noopener">Bank Central Asia (BBCA IJ)</a>, <a href="https://www.smartkarma.com/entities/adi-sarana-armada-tbk-pt" target="_blank" data-smartkarma-citation="entities:16947:1" rel="noopener">Adi Sarana Armada (ASSA IJ)</a>, <a href="https://www.smartkarma.com/entities/gojek-goto" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo (GOTO IJ)</a>, and <a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a>.</li>
<li>
<a href="https://www.smartkarma.com/profiles/daniel-tabbush" target="_blank" data-smartkarma-citation="accounts:12" rel="noopener">Daniel Tabbush</a> also took a look and Philippine Banks highlighting <a href="https://www.smartkarma.com/entities/china-banking-corporation" target="_blank" data-smartkarma-citation="entities:22788:1" rel="noopener">China Banking (CHIB PM)</a> as his top pick. We also comment on <a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International (ASII IJ)</a> and <a href="https://www.smartkarma.com/entities/telekomunikasi-indonesia" target="_blank" data-smartkarma-citation="entities:1051:1" rel="noopener">Telekom (TLKM IJ)</a>. </li>
</ul>


The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.
The past week saw insights on Singapore's economic outlook, Bank Central Asia (BBCA IJ), Adi Sarana Armada (ASSA IJ), GoTo (GOTO IJ), and SCG Packaging (SCGP TB).

Daniel Tabbush also took a look and Philippine Banks highlighting China Banking (CHIB PM) as his top pick. We also comment on Astra International (ASII IJ) and Telekom (TLKM IJ). 


The Week That Was in ASEAN@Smartkarma - BCA's Transactional, ASSA & Anteraja, and Philippine Banks

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>For our next Corporate Webinar we are glad to welcome <a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042" rel="noopener">Arwana Citramulia (ARNA IJ)</a> CFO &amp; Corporate Secretary, Rudy Sujanto.</p><p>In the upcoming webinar, Rudy will share a short company presentation, after which he will engage in a fireside chat with Smartkarma Analyst, <a href="https://www.smartkarma.com/profiles/angus-mackintosh" target="_blank" data-smartkarma-citation="accounts:937" rel="noopener">Angus Mackintosh</a>. A live Q&amp;A session will follow.</p><h3>The Corporate Webinar will be hosted on Tuesday, 26 April 2022, 17:00 SGT.</h3><div><div class="content-highlight"><h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=86214580068" target="_blank" rel="noopener">Register for the Webinar here</a></h2></div><p><a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042" rel="noopener">Arwana Citramulia (ARNA IJ)</a> is a public company engaged in the ceramic and porcelain industry. The Company began commercial operations on 23 June 1995, with the commencement of production at Plant I in Pasar Kemis, Tangerang, Banten. Plant I’s then-production capacity was 2.88 million square meters per year. By the end of 2021, the Company’s installed capacity has grown significantly to 64.37 million square meters per year through the establishment of four other factories, as well as by adding new production lines and upgrading machinery. The Company’s five factories were established in five different locations based on strategic foresight and also in order to empower the economy of the local communities. Plant I and Plant II are each located in Tangerang and Serang, Banten, respectively. Plant III and Plant V are each located in Gresik and Mojokerto, East Java, respectively, while Plant IV is located in Ogan Ilir, South Sumatra.</p><p>Corporate Webinars by <a href="https://www.smartkarma.com/home/corporate-solutions/" target="_blank" rel="noopener">Smartkarma Corporate Solutions</a> feature discussions with IROs and Executives, discussing their companies, the challenges they face, and the opportunities in their sectors and markets. </p></div>

For our next Corporate Webinar we are glad to welcome Arwana Citramulia (ARNA IJ) CFO &amp; Corporate Secretary, Rudy Sujanto.In the upcoming webinar, Rudy will share a short company presentation, after which he will engage in a fireside chat with Smartkarma Analyst, Angus Mackintosh. A live Q&amp;A session will follow.The Corporate Webinar will be hosted on Tuesday, 26 April 2022, 17:00 SGT.Register for the Webinar hereArwana Citramulia (ARNA IJ) is a public company engaged in the ceramic and porcelain industry. The Company began commercial operations on 23 June 1995, with the commencement of production at Plant I in Pasar Kemis, Tangerang, Banten. Plant I’s then-production capacity was 2.88 million square meters per year. By the end of 2021, the Company’s installed capacity has grown significantly to 64.37 million square meters per year through the establishment of four other factories, as well as by adding new production lines and upgrading machinery. The Company’s five factories were established in five different locations based on strategic foresight and also in order to empower the economy of the local communities. Plant I and Plant II are each located in Tangerang and Serang, Banten, respectively. Plant III and Plant V are each located in Gresik and Mojokerto, East Java, respectively, while Plant IV is located in Ogan Ilir, South Sumatra.Corporate Webinars by Smartkarma Corporate Solutions feature discussions with IROs and Executives, discussing their companies, the challenges they face, and the opportunities in their sectors and markets. 

Smartkarma Corporate Webinar | Arwana Citramulia: Tiling Indonesia

Indonesia

PT Arwana Citramulia Tbk manufactures ceramic construction material for flooring. Through its subsidiary, the Company also distributes its products. The Company's factory is located in Tangerang, Banten.

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Arwana Citramulia (ARNA IJ)

The Week That Was in ASEAN@Smartkarma - Grab's Maps, Kino's Beverages & Beauty, and ThaiBev's BeerCo

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - Astra International, Bluebird Taxi, and Keppel Restructuring

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh