Daily Brief Macro: The Week the Was in ASEAN@Smartkarma - Mitra Adiperkasa and more

In today’s briefing:

The Week the Was in ASEAN@Smartkarma – Mitra Adiperkasa, Bukalapak, and Singapore Airlines
AFC Iraq Fund March 2023 Update: “The Budget, and the Stock Market’s Next Move”
Scary: Oil market business conditions are worsening fast – due to policy mistakes

The Week the Was in ASEAN@Smartkarma – Mitra Adiperkasa, Bukalapak, and Singapore Airlines

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 a flurry of insights on Siloam International Hospitals, Prodia, AKR Corporindo, Telekomunikasi Indonesia, Mitra Adiperkasa, Bukalapak, and Cisarua Mountain Dairy.
There was also a macro insight into Thai Politics, and insights on Delta Electronics Thai, Singapore Airlines, Sembcorp Marine, Golden Energy & Resources, Areit (AyalaLand REIT), plus Indonesian Banks.

The AFC Iraq Fund was up an estimated 4.1% in March, outperforming its benchmark, the Rabee Securities RSISX USD Index, which was up 2.3% for the month.
For the year, the AFC Iraq Fund is up an estimated 27.7%, outperforming the index’s increase of 21.5%.
The market’s and the fund’s solid performance, on the back of last month’s super performance, enhanced by a revalued currency, underscores the underlying strength of the market’s recovery that is in the process of looking through and discounting the currency’s volatility as discussed here recently.

Oil businesses fear lower prices and a shortage of workers The quarterly Dallas FED Energy survey showed some pretty interesting results.
First of all, business activity tanked and the uncertainty level of businesses rose.
The survey also highlighted which price small and large drilling companies need in order to produce oil without a loss.

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