Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

Sumber Alfaria Trijaya Tbk Pt / Event-Driven

<ul>
<li>At the January review, there are 2 changes to the IDX30 Index, 5 changes to the LQ45 Index, and 9 changes to the IDX30 Index.</li>
<li>Largest buying impact will be on <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</a>, <a href="https://www.smartkarma.com/entities/elang-mahkota-teknologi-tbk" target="_blank" data-smartkarma-citation="entities:7752:1" rel="noopener">Emtek (EMTK IJ)</a>, <a href="https://www.smartkarma.com/entities/waskita-karya-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:15739:1" rel="noopener">Waskita Karya (Persero) (WSKT IJ)</a>, <a href="https://www.smartkarma.com/entities/bfi-finance-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:8447:1" rel="noopener">BFI Finance Indonesia (BFIN 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>. </li>
<li>Largest selling impact will be on <a href="https://www.smartkarma.com/entities/ace-hardware-indonesia" target="_blank" data-smartkarma-citation="entities:12808:1" rel="noopener">Ace Hardware Indonesia (ACES IJ)</a>, <a href="https://www.smartkarma.com/entities/jasa-marga-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:12747:1" rel="noopener">Jasa Marga (JSMR IJ)</a>, <a href="https://www.smartkarma.com/entities/pakuwon-jati-tbk-pt" target="_blank" data-smartkarma-citation="entities:8550:1" rel="noopener">Pakuwon Jati (PWON IJ)</a> , <a href="https://www.smartkarma.com/entities/bumi-serpong-damai-pt" target="_blank" data-smartkarma-citation="entities:15498:1" rel="noopener">Bumi Serpong Damai (BSDE IJ)</a> and <a href="https://www.smartkarma.com/entities/hm-sampoerna-tbk-pt" target="_blank" data-smartkarma-citation="entities:617:1" rel="noopener">HM Sampoerna (HMSP IJ)</a>.</li>
</ul>


At the January review, there are 2 changes to the IDX30 Index, 5 changes to the LQ45 Index, and 9 changes to the IDX30 Index.
Largest buying impact will be on Sumber Alfaria Trijaya Tbk Pt, Emtek (EMTK IJ), Waskita Karya (Persero) (WSKT IJ), BFI Finance Indonesia (BFIN IJ) and XL Axiata (EXCL IJ). 
Largest selling impact will be on Ace Hardware Indonesia (ACES IJ), Jasa Marga (JSMR IJ), Pakuwon Jati (PWON IJ) , Bumi Serpong Damai (BSDE IJ) and HM Sampoerna (HMSP IJ).


IDX30/LQ45 Index Rebalance: BIG Impact Changes in Limited Time

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 has seen Insights on <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/sumber-alfaria-trijaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:15659:1" rel="noopener">Sumber Alfaria Trijaya (AMRT IJ)</a>, <a href="https://www.smartkarma.com/entities/semen-indonesia-persero-tbk" target="_blank" data-smartkarma-citation="entities:11161:1" rel="noopener">Semen Indonesia (Gresik) (SMGR IJ)</a>, and the <a href="https://www.smartkarma.com/entities/mapletree-commercial-trust" target="_blank" data-smartkarma-citation="entities:106:1" rel="noopener">Mapletree Commercial Trust (MCT SP)</a> deal.</li>
<li>We also explored online groceries in South-East Asia as we see increasing interest in the space plus <a href="https://www.smartkarma.com/profiles/nicolas-van-broekhoven-24a66c2d-bca4-4f5b-adda-c4e2bcc509f4" target="_blank" data-smartkarma-citation="accounts:1208" rel="noopener">Nicolas Van Broekhoven</a> also lays out his top picks for 2022 performance.</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 has seen Insights on Grab (GRAB US), Sumber Alfaria Trijaya (AMRT IJ), Semen Indonesia (Gresik) (SMGR IJ), and the Mapletree Commercial Trust (MCT SP) deal.
We also explored online groceries in South-East Asia as we see increasing interest in the space plus Nicolas Van Broekhoven also lays out his top picks for 2022 performance.


The Week That Was in ASEAN@Smartkarma - Grab Expands, Alfamart, and Mapletree Mega-Merger

Thematic (Sector/Industry)

<ul>
<li>Online groceries are all the rage in South East Asia as consumers change their consumption habits but are still at an early stage with many years of growth ahead</li>
<li>A number of benchmark deals in the region with major e-commerce players such as <a href="https://www.smartkarma.com/entities/lazada-group" target="_blank" data-smartkarma-citation="entities:26148:1" rel="noopener">Lazada Group (LAZADA SP)</a>, <a href="https://www.smartkarma.com/entities/gojek" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">Gojek</a>, and <a href="https://www.smartkarma.com/entities/grab-holdings-inc" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab (GRAB US)</a> underline the potential upside in the space</li>
<li>Listings of online grocery players may come in the near future but <a href="https://www.smartkarma.com/entities/pt-matahari-putra-prima" target="_blank" data-smartkarma-citation="entities:18045:1" rel="noopener">Pt Matahari Putra Prima (MPPA IJ)</a> and <a href="https://www.smartkarma.com/entities/supra-boga-lestari-tbk-pt" target="_blank" data-smartkarma-citation="entities:16780:1" rel="noopener">Supra Boga Lestari (RANC IJ)</a> are already involved through recent deals.</li>
</ul>


Online groceries are all the rage in South East Asia as consumers change their consumption habits but are still at an early stage with many years of growth ahead
A number of benchmark deals in the region with major e-commerce players such as Lazada Group (LAZADA SP), Gojek, and Grab (GRAB US) underline the potential upside in the space
Listings of online grocery players may come in the near future but Pt Matahari Putra Prima (MPPA IJ) and Supra Boga Lestari (RANC IJ) are already involved through recent deals.


CrossASEAN Digital - Online Groceries Are All the Rage

Equity Bottom-Up

Sumber Alfaria Trijaya Tbk Pt / Equity Bottom-Up

<ul>
<li>
<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> remains a leading player in Indonesian retail through its minimarkets with plans to accelerate store opening in 2022</li>
<li>The company reported strong 9M2021 results and we expect a strong seasonal finish to the year as mobility restrictions have relaxed in 4Q2021 further boosting demand</li>
<li>Sumber Alfaria Trijaya Tbk Pt (AMRT IJ) trades on 24.9x FY22ER PER and 21.7x FY2023E PER versus its 5-year average of 36.7x, making it look attractive from a historical perspective.</li>
</ul>



Sumber Alfaria Trijaya Tbk Pt (AMRT IJ) remains a leading player in Indonesian retail through its minimarkets with plans to accelerate store opening in 2022
The company reported strong 9M2021 results and we expect a strong seasonal finish to the year as mobility restrictions have relaxed in 4Q2021 further boosting demand
Sumber Alfaria Trijaya Tbk Pt (AMRT IJ) trades on 24.9x FY22ER PER and 21.7x FY2023E PER versus its 5-year average of 36.7x, making it look attractive from a historical perspective.


Sumber Alfaria Trijaya (AMRT IJ) - Back to Expansion Mode

<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/united-tractors-tbk-pt" target="_blank" data-smartkarma-citation="entities:698:1" rel="noopener">United Tractors (UNTR IJ)</a>, what is next after <a href="https://www.smartkarma.com/entities/grab-holdings-inc" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab (GRAB US)</a>'s listing, and the founder-led offer for <a href="https://www.smartkarma.com/entities/roxy-pacific-holdings-ltd" target="_blank" data-smartkarma-citation="entities:1096:1" rel="noopener">Roxy Pacific Holdings (ROXY SP)</a>. </li>
<li>We also look at the upcoming IPO of GoTo, <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>'s recent car sales rebound, and <a href="https://www.smartkarma.com/entities/bukalapak" target="_blank" data-smartkarma-citation="entities:33575:1" rel="noopener">Bukalapak (BUKA IJ)</a>'s recent acquisition in digital finance plus much more.</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 United Tractors (UNTR IJ), what is next after Grab (GRAB US)'s listing, and the founder-led offer for Roxy Pacific Holdings (ROXY SP). 
We also look at the upcoming IPO of GoTo, Astra International (ASII IJ)'s recent car sales rebound, and Bukalapak (BUKA IJ)'s recent acquisition in digital finance plus much more.


The Week That Was in ASEAN@Smartkarma - United Tractors, Grab's Listing, and GoTo IPO

Indonesia

PT Midi Utama Indonesia Tbk operates a chain of retail stores.  The Company operates convenience stores in Indonesia.

PT Tigaraksa Satria Tbk is divided into three groups, mainly distribution, own products, and investment. The Company distributes food and beverages, household products, and books and publications. In the own products group, Tigaraksa manufactures garments, air freshener, and milk powder.

PT Hero Supermarket Tbk operates supermarkets, hypermarkets, and specialty retailing stores which consists of convenience stores, mini markets, and pharmacies.

PT Supra Boga Lestari Tbk owns and operates markets that provide fresh product, meat fish and delicatessen food and an array of imported groceries selection. The Company is based in Indonesia.

PT Matahari Putra Prima Tbk operates retail stores. The Company focuses on merchandising operations which includes general merchandise and food discount stores, including hypermarkets.  Matahari Putra Prima offers its services throughout Indonesia.

PT Unilever Indonesia Tbk manufactures soaps, detergents, margarine, oil and dairy based foods, tea based beverages, ice cream, and cosmetics.

PT Hanjaya Mandala Sampoerna Tbk manufactures hand rolled and machine-rolled clove-blended cigarettes. The Company distributes its products in the domestic and international market. Through its subsidiaries, the Company also develops properties.

PT Charoen Pokphand Indonesia Tbk manufactures and distributes animal feeds, woven plastic bags, and poultry equipment as well as processes chicken.  Through its subsidiaries, the Company also operates poultry farms and distributes its products.

PT Indofood CBP Sukses Makmur Tbk provides a wide range of food products. The Company is a total food solutions company with operations in all stages of food manufacturing from the production of raw materials and their processing through to consumer products on the retailer's shelf.

PT Indofood Sukses Makmur Tbk and its subsidiaries manufacture instant noodles, wheat flour, baby food, food seasonings, coffee, cooking oil, and snacks.

Alibaba Health Information Technology Limited is an integrated healthcare information and content service provider. The Company uses product identification, authentication, and tracking system data for its healthcare information.

LAWSON, INC. operates a chain of convenience stores in Japan. The Company sells a variety of products including fast food, beverages, snacks, magazines, newspapers, and sundry goods.

Walgreens Boots Alliance, Inc., operates retail drugstores that offer a wide variety of prescription and non-prescription drugs as well as general goods. Walgreens' also offers health services, including primary and acute care, wellness, pharmacy and disease management services and health and fitness.

KOBE BUSSAN CO., LTD. is a supermarket franchise store operator which mainly deals in foods stuffs.  The Company also has direct-run stores.

CP Axtra Public Company Limited operates a retail discount store chain. The Company sells food and consumer products to its registered customers including wholesalers, retailers, small businesses, caterers, and private individuals who hold its member cards. CP Axtra serves customers in Thailand.

Sprouts Farmers Market, Inc. operates a chain of retail grocery stores. The Company offers meats, cheese, dairy products, bakery, beer and wine, bulk foods, vitamins, and supplements. Sprouts Farmers Market serves customers throughout the United States.

President Chain Store Corp. operates seven-eleven convenience stores throughout Taiwan.  These chain stores also provide bill-payment service, ATM service, and photo development service.  The Company's other business areas include retail, logistics, and retail information system.

Colruyt SA retails goods and offers computer and printing services.  The Company retails food and non-food items through Colruyt supermarkets, and Coccinelle, UGA, and Codi Cash supermarkets and cash and carry stores.  It retails toys, baby products, and school supplies through Dreamland stores. Colruyt markets computers and offers programming services.

J Sainsbury plc retails food.  The Company operates Sainsbury supermarkets in the United Kingdom, convenience stores, an Internet-based home delivery service, and Sainsbury Bank.  The Bank offers saving accounts, credit cards, mortgages, insurance products, and consumer loans.

Axfood AB is a food retailer and wholesaler.  The Company owns and operates supermarkets, food discount stores, distribution centers, and warehouses. Axfood owns Hemkop, Willys, Willys Hemma, and Dagab, and supports the Spar, Tempo, and Vivo stores, which are privately owned and operated through franchise agreements, in Sweden.

PT Sumber Alfaria Trijaya Tbk operates a chain of retail supermarkets.

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Sumber Alfaria Trijaya Tbk Pt (AMRT IJ)

IDX30/LQ45 Index Rebalance: BIG Impact Changes in Limited Time

There are 2 changes to the IDX30, 5 to the LQ45, and 9 to the IDX80. There are a few large impact/flow names on the IDX30/LQ45 indices. The adds...

Brian Freitas

The Week That Was in ASEAN@Smartkarma - Grab Expands, Alfamart, and Mapletree Mega-Merger

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 Digital - Online Groceries Are All the Rage

Online groceries are all the rage in South East Asia as consumers change their consumption habits but are still at an early stage with many years...

Angus Mackintosh

Sumber Alfaria Trijaya (AMRT IJ) - Back to Expansion Mode

Sumber Alfaria Trijaya Tbk Pt (AMRT IJ) remains a leading player in Indonesian retail through its minimarkets with plans to accelerate store...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - United Tractors, Grab's Listing, and GoTo IPO

The week that was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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