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 - BNI More Digital, Erajaya on Fire, and Siam Commercial Bank

Erajaya Swasembada (ERAA IJ) - Smartphones and Retail in One

Erajaya Swasembada (ERAA IJ) - In Ramping Up Mode

Erajaya (ERAA): In-Store Experience to Your Home

Erajaya Swasembada (ERAA IJ) - The Empire Strikes Back

Erajaya (ERAA): Beneficiary of WhatsApp and Google Update

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

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<p>A conversation with Indonesia's No.1 retailer and distributor of mobile phones, revealed the company has employed a similar strategy during the most recent round of Emergency PPKM measures in Indonesia as during the PSBB mobility measures last year. This time around the company and the customers are better prepared to deal with the measures. <a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" data-smartkarma-citation="entities:18869:1" rel="noopener">Erajaya Swasembada (ERAA IJ)</a> has continued to pursue its mobile selling, online promotions, and sales through third-party marketplaces.</p>
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<p>Despite malls being shut staff have still been able to operate from the company's stores providing mobile phone service and set-up services for consumers in the home.</p>
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<p>The company continues to see the  average price for its products continue to rise due to customers seeking to upgrade their handsets plus opting for larger screens given work and school from home</p>
<p>In a new retail venture, <a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" rel="noopener"><span data-preserver-spaces="true">Erajaya Swasembada (ERAA IJ)</span></a><span data-preserver-spaces="true"> is now working together with JD Sports Fashion Plc to expand its business into the fashion retail segment. </span></p>
<p><a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" rel="noopener">Erajaya Swasembada (ERAA IJ)</a> is also expanding to take up a niche in the beauty sector by establishing a flagship outlet, The Face Shop Indonesia.</p>
<p><a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" data-smartkarma-citation="entities:18869:1" rel="noopener">Erajaya Swasembada (ERAA IJ)</a> remains a key enabler for the growth in the Indonesian digital economy, as the largest mobile phone retailer, selling most major brands including the more affordable Chinese brands, which are appealing to the mass-market consumer.</p>
<p>The company trades on very reasonable valuations with a stable growth outlook, with a likely pick up in growth in the next few months and into next year as PPKM restrictions are relaxed and malls are reopened.</p>


A conversation with Indonesia's No.1 retailer and distributor of mobile phones, revealed the company has employed a similar strategy during the most recent round of Emergency PPKM measures in Indonesia as during the PSBB mobility measures last year. This time around the company and the customers are better prepared to deal with the measures. Erajaya Swasembada (ERAA IJ) has continued to pursue its mobile selling, online promotions, and sales through third-party marketplaces.

Despite malls being shut staff have still been able to operate from the company's stores providing mobile phone service and set-up services for consumers in the home.



The company continues to see the  average price for its products continue to rise due to customers seeking to upgrade their handsets plus opting for larger screens given work and school from home
In a new retail venture, Erajaya Swasembada (ERAA IJ) is now working together with JD Sports Fashion Plc to expand its business into the fashion retail segment. 
Erajaya Swasembada (ERAA IJ) is also expanding to take up a niche in the beauty sector by establishing a flagship outlet, The Face Shop Indonesia.
Erajaya Swasembada (ERAA IJ) remains a key enabler for the growth in the Indonesian digital economy, as the largest mobile phone retailer, selling most major brands including the more affordable Chinese brands, which are appealing to the mass-market consumer.
The company trades on very reasonable valuations with a stable growth outlook, with a likely pick up in growth in the next few months and into next year as PPKM restrictions are relaxed and malls are reopened.

Erajaya Swasembada (ERAA IJ) - Better Reception Ahead