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 - MAPI's Remoulding, Sido Muncul, and Bukalapak's Renaissance

Mitra Adiperkasa (MAPI IJ) - Reasons to Be Cheerful

Mitra Adiperkasa (MAPI IJ) - Universally Retail

Mitra Adiperkasa (MAPI IJ) - Caught in a Squall but Blue Skies Ahead

Mitra Adiperkasa (MAPI IJ) - One Step Beyond

Mitra Adiperkasa (MAPI IJ) - Unified Retailing Proves Its Worth

Smartkarma Corporate Webinar | MAPI: Transforming Retail in Indonesia

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's</a> results this week confirm a strong recovery is in place, with improving margins and growth across all verticals and a return to profitability for FY2021. </li>
<li>Growth was evident in both online and offline channels as the company's unified retail strategy continues to yield strong results plus inventory levels improved dramatically QoQ in 4Q2021.</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 (MAPI IJ)</a> remains a key proxy for the retail recovery in Indonesia and has remoulded itself to changing consumer behaviour. Valuations remain attractive versus historical levels. </li>
</ul>



Mitra Adiperkasa's results this week confirm a strong recovery is in place, with improving margins and growth across all verticals and a return to profitability for FY2021. 
Growth was evident in both online and offline channels as the company's unified retail strategy continues to yield strong results plus inventory levels improved dramatically QoQ in 4Q2021.

Mitra Adiperkasa (MAPI IJ) remains a key proxy for the retail recovery in Indonesia and has remoulded itself to changing consumer behaviour. Valuations remain attractive versus historical levels. 


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