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>This week we look at Shopee's ongoing efforts to turn up the dial on live streaming as TikTok restructures Tokopedia and we look at the product-lead initiatives driving GoTo's growth.</li>
<li>We also comment on the latest acquisition by <a href="https://www.smartkarma.com/entities/global-digital-niaga-tbk-pt" target="_blank" data-smartkarma-citation="entities:34881:1" rel="noopener">Global Digital Niaga Tbk PT (BELI IJ)</a> in the home improvement space as it seeks to increase its omnichannel exposure.</li>
<li>CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.</li>
</ul>


This week we look at Shopee's ongoing efforts to turn up the dial on live streaming as TikTok restructures Tokopedia and we look at the product-lead initiatives driving GoTo's growth.
We also comment on the latest acquisition by Global Digital Niaga Tbk PT (BELI IJ) in the home improvement space as it seeks to increase its omnichannel exposure.
CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.


CrossASEAN Ground Zero - Shopee's Live Streaming Push, GoTo's Multi-Pronged Initiatives, and BliBli

<ul>
<li>This week we look at Grab's ESG qualities and its recent report along with Vingroup's plans to start EV ride-hailing in Indonesia on top of <a href="https://www.smartkarma.com/entities/vinfast-auto-ltd" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">Vinfast</a>'s commitment to manufacturing. </li>
<li>We also look at how the digital payments space is developing in Indonesia and Vietnam with Momo and Evermos's differentiated social commerce strategy in Indonesia helping to foster entrepreneurialism. </li>
<li>CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.</li>
</ul>


This week we look at Grab's ESG qualities and its recent report along with Vingroup's plans to start EV ride-hailing in Indonesia on top of Vinfast's commitment to manufacturing. 
We also look at how the digital payments space is developing in Indonesia and Vietnam with Momo and Evermos's differentiated social commerce strategy in Indonesia helping to foster entrepreneurialism. 
CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.


CrossASEAN Ground Zero - Grab's ESG Credentials, Vinfast in Indonesia, Digital Payments, and Evermos

<ul>
<li>The past week saw insights in <a href="https://www.smartkarma.com/entities/sumber-alfaria-trijaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:15659:1" rel="noopener">Sumber Alfaria Trijaya Tbk Pt (AMRT IJ)</a>, <a href="https://www.smartkarma.com/entities/cp-axtra-pcl" target="_blank" data-smartkarma-citation="entities:5577:1" rel="noopener">CP Axtra (CPAXT TB)</a>, and <a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Holdings (JM SP)</a>.</li>
<li>There were also macro insights on inflation in Thailand and the Philippines, a sector view on EVs in ASEAN and the 14 top picks in ASEAN from <a href="https://www.smartkarma.com/profiles/dr-andrew-stotz-cfa" target="_blank" data-smartkarma-citation="accounts:756" rel="noopener">Dr. Andrew Stotz.</a>
</li>
<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 Southeast Asia.</li>
</ul>


The past week saw insights in Sumber Alfaria Trijaya Tbk Pt (AMRT IJ), CP Axtra (CPAXT TB), and Jardine Matheson Holdings (JM SP).
There were also macro insights on inflation in Thailand and the Philippines, a sector view on EVs in ASEAN and the 14 top picks in ASEAN from Dr. Andrew Stotz.

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 Southeast Asia.


The Week That Was in ASEAN@Smartkarma - Alfamart Uncut, CP Axtra Revealed, and Jardine Matheson

<ul>
<li>This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes at <a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo.</a>
</li>
<li>We also look at Lazada's latest capital raising, aCommerce's results, and <a href="https://www.smartkarma.com/entities/propertyguru-group-limited" target="_blank" data-smartkarma-citation="entities:28149:1" rel="noopener">PropertyGuru (PGRU US)</a>, which slipped back into the red in 1Q2024. </li>
<li>CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.</li>
</ul>


This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes at GoTo.

We also look at Lazada's latest capital raising, aCommerce's results, and PropertyGuru (PGRU US), which slipped back into the red in 1Q2024. 
CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.


CrossASEAN Ground Zero - Food Panda Sale, Lazada Fundraising, ACommerce, and PropertyGuru's Loss

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab</a>'s 1Q2024 reflected strong performance from its deliveries and mobility segments despite seasonal headwinds, with growth driven by new initiatives rather than increased incentives, with affordable products leading.</li>
<li>The company has launched new products in the premium segment, with advanced bookings improving the most recent initiative, while its saver products are increasing spend, frequency, and retention. </li>
<li>Another key feature of the 1Q2024 has been the strong performance of groceries, driven by alliances with retailers, and booking higher growth than food deliveries. </li>
</ul>



Grab's 1Q2024 reflected strong performance from its deliveries and mobility segments despite seasonal headwinds, with growth driven by new initiatives rather than increased incentives, with affordable products leading.
The company has launched new products in the premium segment, with advanced bookings improving the most recent initiative, while its saver products are increasing spend, frequency, and retention. 
Another key feature of the 1Q2024 has been the strong performance of groceries, driven by alliances with retailers, and booking higher growth than food deliveries. 


Grab Holdings (GRAB US) - Leaning In with Product Initiatives

Indonesia

PT GoTo Gojek Tokopedia Tbk operates as an e-commerce platform. The Company offers mobility, food delivery, logistics, e-commerce, and financial technology solutions. GoTo Gojek Tokopedia serves customers in Indonesia.

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GoTo Gojek Tokopedia Tbk PT (GOTO IJ)

CrossASEAN Ground Zero - Shopee's Live Streaming Push, GoTo's Multi-Pronged Initiatives, and BliBli

This week we look at Shopee's ongoing efforts to turn up the dial on live streaming as TikTok restructures Tokopedia and we look at the product...

Angus Mackintosh

CrossASEAN Ground Zero - Grab's ESG Credentials, Vinfast in Indonesia, Digital Payments, and Evermos

This week we look at Grab's ESG qualities and its recent report along with Vingroup's plans to start EV ride-hailing in Indonesia on top of...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - Alfamart Uncut, CP Axtra Revealed, and Jardine Matheson

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

Angus Mackintosh

CrossASEAN Ground Zero - Food Panda Sale, Lazada Fundraising, ACommerce, and PropertyGuru's Loss

This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes...

Angus Mackintosh

Grab Holdings (GRAB US) - Leaning In with Product Initiatives

Grab's 1Q2024 reflected strong performance from both ts deliveries and mobility segments despite seasonal headwinds, with growth driven by new...

Angus Mackintosh

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