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 the Was in ASEAN@Smartkarma - Mitra Adiperkasa, Bukalapak, and Singapore Airlines

Mitra Adiperkasa (MAPI IJ) - Vibrant Start to Very Different Year

The Week That Was in ASEAN@Smartkarma - Prodia Diagnosed, Bukalapak, and MAPI's Omnichannel

Mitra Adiperkasa (MAPI IJ) - Universally Retail

Mitra Adiperkasa (MAPI IJ) - Reasons to Be Cheerful

Mitra Adiperkasa (MAPI IJ) - Remoulded and Ready for Recovery

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/mitra-adiperkasa-tbk-pt" target="_blank" data-smartkarma-citation="entities:18684:1" rel="noopener">Mitra Adiperkasa</a> continus to execute on its unified retail model that utilises multiple channels to serve customers but offline activity has picked up most, driving a very strong 4Q2022. </li>
<li>The company continues to see improving margins across the board as sales growth has picked up across all segments. Online sales also remained relevant at 9% of sales in 2022.</li>
<li>
<a href="https://www.smartkarma.com/entities/mitra-adiperkasa-tbk-pt" target="_blank" data-smartkarma-citation="entities:18684:1" rel="noopener">Mitra Adiperkasa</a> continues to recover, utilising its MAPCLUB members to drive sales through more effective targeted promotions and efficiencies. Valuations are attractive versus historical levels.</li>
</ul>



Mitra Adiperkasa continus to execute on its unified retail model that utilises multiple channels to serve customers but offline activity has picked up most, driving a very strong 4Q2022. 
The company continues to see improving margins across the board as sales growth has picked up across all segments. Online sales also remained relevant at 9% of sales in 2022.

Mitra Adiperkasa continues to recover, utilising its MAPCLUB members to drive sales through more effective targeted promotions and efficiencies. Valuations are attractive versus historical levels.


Mitra Adiperkasa (MAPI IJ) - Multi-Channel in Motion