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

The Week That Was in ASEAN@Smartkarma - Bukalapak's Bank, Thailand Debt Restructurer, and Sea Ltd

Bukalapak (BUKA IJ) - Storefronts, Specialty, and Financing

The Week That Was in ASEAN@Smartkarma - Bukalapak's Storefront, Grab's MSCI Boost, and Unilever Indo

Bukalapak (BUKA IJ) - Empowering Mitra and Creating Shopfronts

Bukalapak (BUKA IJ) - Hitting Mitras with More Product

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bukalapak" target="_blank" data-smartkarma-citation="entities:33575:1" rel="noopener">Bukalapak (BUKA IJ)</a> has announced that it will participate in the upcoming rights issue of new digital bank <a href="https://www.smartkarma.com/entities/allo-bank-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:33551:1" rel="noopener">Allo Bank</a>, its first direct investment in a financial services company.</li>
<li>This move will help to enhance the company's financial services offering to its 10.4m plus Mitras and sellers in the platform helping to increase stickiness and improve take-rates.</li>
<li>We expect positive momentum going forward as some of its new focus areas pick up the pace and valuations look attractive from an EV/gross sales perspective given its growth prospects. </li>
</ul>



Bukalapak (BUKA IJ) has announced that it will participate in the upcoming rights issue of new digital bank Allo Bank, its first direct investment in a financial services company.
This move will help to enhance the company's financial services offering to its 10.4m plus Mitras and sellers in the platform helping to increase stickiness and improve take-rates.
We expect positive momentum going forward as some of its new focus areas pick up the pace and valuations look attractive from an EV/gross sales perspective given its growth prospects. 


Bukalapak (BUKA IJ) - Enhancing Financial Offerings

Bukalapak.com PT Tbk

Bukalapak (BUKA IJ) - Enhancing Financial Offerings