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 - Indofood's On Track, ROTI's Rising, and BliBli's Omnichannel

The Week That Was in ASEAN@Smartkarma - GoTo & TikTok, BliBli's Omnichannel, and Malaysian Banks

CrossASEAN Ground Zero - Shopee's Live Streaming Push, GoTo's Multi-Pronged Initiatives, and BliBli

Global Digital Niaga (BELI IJ) - BliBli Ploughing a More Profitable Furrow

BliBli (BELI IJ) - A Very Different Animal

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

Global Digital Niaga Tbk PT / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/global-digital-niaga-tbk-pt" target="_blank" data-smartkarma-citation="entities:34881:1" rel="noopener">Global Digital Niaga (BELI IJ)</a> 3Q2023 represented the progress along the road to profitability with some intentional slowdown in growth as the shape of the 1P business changed composition.</li>
<li>The platform's 3P business booked vibrant growth driven by ongoing recovery from its OTA business under tiket.com, with the company's omnichannel business continuing to grow its physical presence. </li>
<li>
<a href="https://www.smartkarma.com/entities/global-digital-niaga-tbk-pt" target="_blank" data-smartkarma-citation="entities:34881:1" rel="noopener">Global Digital Niaga Tbk PT (BELI IJ)</a> remains a differentiated player in the e-commerce space boosted by tiket.com and its offline presence brought together through its blibli tiket rewards scheme. </li>
</ul>



Global Digital Niaga (BELI IJ) 3Q2023 represented the progress along the road to profitability with some intentional slowdown in growth as the shape of the 1P business changed composition.
The platform's 3P business booked vibrant growth driven by ongoing recovery from its OTA business under tiket.com, with the company's omnichannel business continuing to grow its physical presence. 

Global Digital Niaga Tbk PT (BELI IJ) remains a differentiated player in the e-commerce space boosted by tiket.com and its offline presence brought together through its blibli tiket rewards scheme. 


Global Digital Niaga (BELI IJ) - Truly Omnichannel