ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

In Equity Sales and Research for more than 25 years covering Asian markets. Possesses in-depth knowledge of a wide range of companies, economies, and markets in Asia. Over his career, he has specialised in HK/China and ASEAN markets at various different Investment Banks, most recently heading equities in Indonesia for Bank of America Merrill Lynch in Jakarta for more than three years. Whilst in Jakarta, he produced a well-read daily and weekly product on the Indonesian market, which included company visits, as well as political, economic and sector commentary. A former racing skier, who enjoys ultra-marathons and surfing in his spare time.

ASEAN Insight Provider

Indonesia Property - Stay Out of the Office and Head to the Mall - On the Ground in J-Town

Smartkarma

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

Research Reinvented

Thematic (Sector/Industry)

On a recent visit to Jakarta, I was kindly invited to the Jones Lang Lasalle Real Estate Conference. One of the most interesting presentations was on Hotels &amp; Hospitality in ASEAN, presented by Frank Sorgiovani of JLL.The tourism market in ASEAN is in a pretty healthy state, driven to a large extent by the droves of outbound tourists flying out of China on an annual basis but the Indians and Russians are also spilling into the region. Thailand has probably been the main disappointment in terms of growth, as Chinese tourists have slowed somewhat. Vietnam is seeing the greatest influx of visitors so far this year, potentially providing another string to its bow. Bali also continues to thrive, with Chinese Tourists now the largest nationality visiting the Island, overtaking Australia convincingly. The Russians are fewer in number but are big spenders, especially at the higher end of the market. In Thailand, fellow insight provider <a href="https://www.smartkarma.com/profiles/766" target="_blank" data-smartkarma-citation="accounts:766">Athaporn Arayasantiparb, CFA</a> likes <a href="https://www.smartkarma.com/entities/11290" target="_blank" data-smartkarma-citation="entities:11290:1">Erawan Group (ERW TB)</a> and <a href="https://www.smartkarma.com/entities/2154" target="_blank" data-smartkarma-citation="entities:2154:1">Minor International Pcl (MINT TB)</a> but does not fancy middle market player <a href="https://www.smartkarma.com/entities/18213" target="_blank" data-smartkarma-citation="entities:18213:1">Central Plaza Hotel Pcl (CENTEL TB)</a>. Thailand saw a big pullback in Chinese Tourists in 1Q17. Another way to play the regional tourism theme is through airports such as <a href="https://www.smartkarma.com/entities/239" target="_blank" data-smartkarma-citation="entities:239:1">Airports Of Thailand Pcl (AOT TB)</a> and <a href="https://www.smartkarma.com/entities/117" target="_blank" data-smartkarma-citation="entities:117:1">Malaysia Airports Hldgs Bhd (MAHB MK)</a> both of which are favoured by <a href="https://www.smartkarma.com/profiles/756" target="_blank" data-smartkarma-citation="accounts:756">Dr Andrew Stotz, CFA</a>. <a href="https://www.smartkarma.com/entities/1484" target="_blank" data-smartkarma-citation="entities:1484:1">Mnc Land Tbk Pt (KPIG IJ)</a> is an interesting way to play the Indonesian tourism theme, as it owns the Westin in Bali and as well as a large chunk of land in South Lombok, earmarked for development by the government. <a href="https://www.smartkarma.com/profiles/605" target="_blank" data-smartkarma-citation="accounts:605">Daniel Hellberg</a> looks at recent trends in Chinese tourism in <a href="https://www.smartkarma.com/insights/dramatic-changes-in-chinese-travel-tourism-flows-ytd-2017-what-are-the-causes-implications" target="_blank" data-smartkarma-citation="insights:10767">Dramatic Changes in Chinese Travel &amp; Tourism Flows YTD 2017; What Are the Causes, Implications?</a> and more recently in <a href="https://www.smartkarma.com/insights/chinese-tourist-flows-within-asia-region-continue-to-show-dramatic-shift-vs-2016-trends" target="_blank" data-smartkarma-citation="insights:11827">Chinese Tourist Flows Within Asia Region Continue to Show Dramatic Shift Vs. 2016 Trends</a>.

On a recent visit to Jakarta, I was kindly invited to the Jones Lang Lasalle Real Estate Conference. One of the most interesting presentations was on Hotels &amp; Hospitality in ASEAN, presented by Frank Sorgiovani of JLL.The tourism market in ASEAN is in a pretty healthy state, driven to a large extent by the droves of outbound tourists flying out of China on an annual basis but the Indians and Russians are also spilling into the region. Thailand has probably been the main disappointment in terms of growth, as Chinese tourists have slowed somewhat. Vietnam is seeing the greatest influx of visitors so far this year, potentially providing another string to its bow. Bali also continues to thrive, with Chinese Tourists now the largest nationality visiting the Island, overtaking Australia convincingly. The Russians are fewer in number but are big spenders, especially at the higher end of the market. In Thailand, fellow insight provider Athaporn Arayasantiparb, CFA likes Erawan Group (ERW TB) and Minor International Pcl (MINT TB) but does not fancy middle market player Central Plaza Hotel Pcl (CENTEL TB). Thailand saw a big pullback in Chinese Tourists in 1Q17. Another way to play the regional tourism theme is through airports such as Airports Of Thailand Pcl (AOT TB) and Malaysia Airports Hldgs Bhd (MAHB MK) both of which are favoured by Dr Andrew Stotz, CFA. Mnc Land Tbk Pt (KPIG IJ) is an interesting way to play the Indonesian tourism theme, as it owns the Westin in Bali and as well as a large chunk of land in South Lombok, earmarked for development by the government. Daniel Hellberg looks at recent trends in Chinese tourism in Dramatic Changes in Chinese Travel &amp; Tourism Flows YTD 2017; What Are the Causes, Implications? and more recently in Chinese Tourist Flows Within Asia Region Continue to Show Dramatic Shift Vs. 2016 Trends.

ASEAN Hotels & Hospitality - The Russians Are Coming - On the Ground in J -Town