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

Equity Bottom-Up

Wintermar Offshore Marine / Equity Bottom-Up

<p>We hosted a Webinar with <a href="https://www.smartkarma.com/entities/wintermar-offshore-marine" target="_blank" data-smartkarma-citation="entities:4064:1" rel="noopener">Wintermar Offshore Marine (WINS IJ)</a> last week on Smartkarma, which revealed a potentially more promising outlook for the offshore Oil &amp; Gas servicing industry, partly due to the recovering oil price but also due to the magnitude of scrapping that has taken place over the last few years for Offshore Service Vessels (OSVs). Scrapping slowed in 3Q2020 potentially signaling that the market is now reaching and equilibrium. </p>
<p><a href="https://www.smartkarma.com/entities/wintermar-offshore-marine" target="_blank" data-smartkarma-citation="entities:4064:1" rel="noopener">Wintermar Offshore Marine (WINS IJ)</a> is well-positioned to benefit from an upturn in the industry has reduced its total fleet but mainly through the reduction of the remaining lower-tier vessels in its fleet. It only has two remaining lower-tier vessels versus a total fleet of 47 vessels. The company has also reduced daily costs by around -20% over the last two years. It has also reduced gearing significantly and extended the tenure on its debt, making it potentially well-positioned to take advantage of the consolidation in the Industry. </p>
<p><a href="https://www.smartkarma.com/entities/wintermar-offshore-marine" target="_blank" data-smartkarma-citation="entities:4064:1" rel="noopener">Wintermar Offshore Marine (WINS IJ)</a> currently trades on 0.23x FY21E PBV and an FY21E EV/EBITDA of 8.4x, making it look attractive in the face of an impending recovery in the offshore oil services industry. Indonesia is especially promising given the government has announced its intention through SKK Migas (Indonesia's Oil &amp; Gas Regulator) to step up oil production from offshore oil &amp; gas assets.</p>
<p><br><br></p>

We hosted a Webinar with Wintermar Offshore Marine (WINS IJ) last week on Smartkarma, which revealed a potentially more promising outlook for the offshore Oil &amp; Gas servicing industry, partly due to the recovering oil price but also due to the magnitude of scrapping that has taken place over the last few years for Offshore Service Vessels (OSVs). Scrapping slowed in 3Q2020 potentially signaling that the market is now reaching and equilibrium. 
Wintermar Offshore Marine (WINS IJ) is well-positioned to benefit from an upturn in the industry has reduced its total fleet but mainly through the reduction of the remaining lower-tier vessels in its fleet. It only has two remaining lower-tier vessels versus a total fleet of 47 vessels. The company has also reduced daily costs by around -20% over the last two years. It has also reduced gearing significantly and extended the tenure on its debt, making it potentially well-positioned to take advantage of the consolidation in the Industry. 
Wintermar Offshore Marine (WINS IJ) currently trades on 0.23x FY21E PBV and an FY21E EV/EBITDA of 8.4x, making it look attractive in the face of an impending recovery in the offshore oil services industry. Indonesia is especially promising given the government has announced its intention through SKK Migas (Indonesia's Oil &amp; Gas Regulator) to step up oil production from offshore oil &amp; gas assets.
  

Wintermar Offshore Marine (WINS IJ) - Indonesia's Oil Recovery Play

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>In this Smartkarma Corporate Webinar, we welcome <a href="https://www.smartkarma.com/entities/wintermar-offshore-marine" target="_blank" data-smartkarma-citation="entities:4064:1" rel="noopener">Wintermar Offshore Marine (WINS IJ)</a>'s Head of Corporate Planning and Investor Relations, Pek Swan Layanto. Pek Swan will share a company presentation along with some key aspects about the company, and have a fireside chat with Smartkarma Insight Provider, <a href="https://www.smartkarma.com/profiles/angus-mackintosh" target="_blank" data-smartkarma-citation="accounts:937" rel="noopener">Angus Mackintosh</a>, followed by a live Q&amp;A session.</p>
<h3>The Corporate Webinar will be hosted on Tuesday, 9 February 2021, 17:00 SGT /16:00 JKT.</h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=81235445347" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<p>Corporate Webinars by <a href="https://www.smartkarma.com/home/corporate-solutions/" target="_blank" rel="noopener">Smartkarma Corporate Solutions</a> feature discussions with Corporate IROs and Executives, discussing their companies, the challenges they face, and the opportunities in their sectors and markets.</p>

In this Smartkarma Corporate Webinar, we welcome Wintermar Offshore Marine (WINS IJ)'s Head of Corporate Planning and Investor Relations, Pek Swan Layanto. Pek Swan will share a company presentation along with some key aspects about the company, and have a fireside chat with Smartkarma Insight Provider, Angus Mackintosh, followed by a live Q&amp;A session.
The Corporate Webinar will be hosted on Tuesday, 9 February 2021, 17:00 SGT /16:00 JKT.

Register for the Webinar here

Corporate Webinars by Smartkarma Corporate Solutions feature discussions with Corporate IROs and Executives, discussing their companies, the challenges they face, and the opportunities in their sectors and markets.

Smartkarma Corporate Webinar | Wintermar Offshore Marine: Sailing into Recovery?

Ex - Analyst at PE and Indonesia Brokerage Firm

Surabhi Chopra

<p><strong><a href="https://www.smartkarma.com/entities/4064" target="_blank" data-smartkarma-citation="entities:4064:1">Wintermar Offshore Marine (WINS IJ)</a> is an offshore marine services company in Indonesia since 1970. </strong>The company have professional and experienced management team. WIN is a national company working to international standards. It has various certification and is also the first Indonesia shipping company to obtain certification for integrated management system from Lloyds Register Quality Assurance. It has international client base in Asia and Middle east, which include high quality clients –…</p>

Wintermar Offshore Marine (WINS IJ) is an offshore marine services company in Indonesia since 1970. The company have professional and experienced management team. WIN is a national company working to international standards. It has various certification and is also the first Indonesia shipping company to obtain certification for integrated management system from Lloyds Register Quality Assurance. It has international client base in Asia and Middle east, which include high quality clients –…

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

<p>The recent rate cut by Bank Indonesia at its policy meeting on 16<sup>th</sup> June is expected to provide some support to domestic demand in the months ahead. The benchmark rate now stands at 6.50%. With inflation expected to stay within Bank Indonesia’s target range of 3% to 5% in the near term, having edged lower to 3.3% y-o-y in May, growth concerns were clearly the dominant driver for the recent move.</p><p>Credit growth in Indonesia has continued to slow, with lending by commercial banks having risen 8.0%…</p>

The recent rate cut by Bank Indonesia at its policy meeting on 16th June is expected to provide some support to domestic demand in the months ahead. The benchmark rate now stands at 6.50%. With inflation expected to stay within Bank Indonesia’s target range of 3% to 5% in the near term, having edged lower to 3.3% y-o-y in May, growth concerns were clearly the dominant driver for the recent move.Credit growth in Indonesia has continued to slow, with lending by commercial banks having risen 8.0%…

Indonesia: Bank Indonesia May Have Room to Cut Rates Further

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

Thematic (Sector/Industry)

<p>Foreign direct investment into Indonesia continues to arrive, but there are issues in relation to radical Islam, labor constraints and corruption. If the new government of President Widodo can resolve some of these, even larger capital inflows can be expected.</p>

Foreign direct investment into Indonesia continues to arrive, but there are issues in relation to radical Islam, labor constraints and corruption. If the new government of President Widodo can resolve some of these, even larger capital inflows can be expected.

FDI into Indonesia on a Roll, but Reforms Needed

Indonesia

PT Wintermar Offshore Marine Tbk offers offshore support services, primarily for the oil and gas industry.  The Company owns and operates a fleet of vessels including AHTS and PSVs equipped with Dynamic Positioning System, and also manages and charters third party vessels. Over the past years, Wintermar has expanded out of Indonesia and now operates in 12 countries, supported by a strong and professional team and high quality vessels.

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Wintermar Offshore Marine (WINS IJ)