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 - Matahari Dept Store, Astra Intl's Award, and Arwana's Shine

Matahari Department Store (LPPF IJ) - Normalizing with Stylish Growth

The Week That Was in ASEAN@Smartkarma - Matahari Dept Store Has Style, Bank Mandiri, and Astra Intl.

Matahari Department Store (LPPF IJ) - All Eyes to the Podium

Matahari Department Store (LPPF IJ) - Freshening Merchandise Is Paying Dividends

Matahari Department Store (LPPF IJ) - New Boots and Pants

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

Matahari Department Store / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pt-matahari-department-store" target="_blank" data-smartkarma-citation="entities:5230:1" rel="noopener">Matahari Department Store (LPPF IJ)</a> continued to benefit from positive consumer sentiment at year-end after faltering in October, driving a solid finish to the year and decent annual growth.</li>
<li>The company has resumed its store rollout for FY2023 with 12-15 new stores planned plus a new premium format, and the company's omnichannel strategy achieving strong results.</li>
<li>
<a href="https://www.smartkarma.com/entities/pt-matahari-department-store" target="_blank" data-smartkarma-citation="entities:5230:1" rel="noopener">Matahari</a> has rebranded itself and improved its merchandise mix with a push towards millennials and more affluent consumers. Valuations are attractive, with the added support of a 10% dividend yield.</li>
</ul>



Matahari Department Store (LPPF IJ) continued to benefit from positive consumer sentiment at year-end after faltering in October, driving a solid finish to the year and decent annual growth.
The company has resumed its store rollout for FY2023 with 12-15 new stores planned plus a new premium format, and the company's omnichannel strategy achieving strong results.

Matahari has rebranded itself and improved its merchandise mix with a push towards millennials and more affluent consumers. Valuations are attractive, with the added support of a 10% dividend yield.


Matahari Department Store (LPPF IJ) - Multiple Fashionable Levers for Growth in 2023