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

Link Net (LINK IJ) - Reduced Bundling but Stable ARPUs - On the Ground in J-Town

LinkNet - Substantial Improvements Ahead, Bar a Bolt Out of the Blue - On the Ground in J-Town

Link Net (LINK IJ) - First Warrior - On the Ground in J-Town

Linknet - Buyback a Catalyst but Fundamentals Stand Out

Linknet - A Captive Audience - On the Ground in J-Town

Link Net - Watching the Subscribers - On the Ground in J-Town

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

<h2>Out of the blue</h2><p>First Media (Lippo ) raised $75m after placing <a href="https://www.smartkarma.com/entities/1050" target="_blank" data-smartkarma-citation="entities:1050:1">Link Net Tbk Pt (LINK IJ)</a> stock at the bottom of a marketed range (source: Bloomberg). It sold 230m Link Net shares at IDR4,550 each (vs IDR4500-IDR5000 range) - a 15.7% discount to Friday close. This represents 7.8% of Link Net’s total shares outstanding, leaving Lippo with around a 27% stake. There is also a  90-day lock-up. Morgan Stanley was Sole Book Runner and the stock was placed with Institutional investors in Asia, Europe and…</p>

Out of the blueFirst Media (Lippo ) raised $75m after placing Link Net Tbk Pt (LINK IJ) stock at the bottom of a marketed range (source: Bloomberg). It sold 230m Link Net shares at IDR4,550 each (vs IDR4500-IDR5000 range) - a 15.7% discount to Friday close. This represents 7.8% of Link Net’s total shares outstanding, leaving Lippo with around a 27% stake. There is also a  90-day lock-up. Morgan Stanley was Sole Book Runner and the stock was placed with Institutional investors in Asia, Europe and…

Link Net - When a Seller Is Not a Seller - Company Update