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

Media Nusantara Citra (MNCN IJ) - A Multi-Media Message

Media Nusantara Citra (MNCN IJ) - Moving to Virtual Reality

Media Nusantara Citra (MNCN IJ) - Rich in Fresh Content for a Homebound Audience

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

<a href="https://www.smartkarma.com/entities/mnc-vision-networks-tbk-pt" target="_blank" data-smartkarma-citation="entities:28658:1" rel="noopener">MNC Vision Networks (IPTV IJ)</a>'s subsidiary, PT Asia Vision Network (AVN), just announced that it will merge with Malacca Straits Acquisition Company Limited (NASDAQ: MLAC), a NASDAQ listed SPAC. This would be the first Indonesian company to undertake a SPAC listing in the U.S.
With the merger, the company's valuation is estimated to reach USD573m, with the transaction expected to be completed by the end of 2Q2021 or early  3Q2021. The transaction is also expected to bring around USD135m in fresh funds to the company, assuming there's no adjustment to the purchase price. 
PT Asia Vision Network (AVN) is Indonesia’s fastest-growing Over-The-Top (OTT) media business and is the holding company of Vision+, the 3rd largest broadband, and IPTV operator in Indonesia.
<a href="https://www.smartkarma.com/entities/malacca-straits-acquisition-company-limited" target="_blank" data-smartkarma-citation="entities:32226:1" rel="noopener">Malacca Straits Acquisition Company (MLAC US)</a> is a publicly-traded special-purpose acquisition company, owned by Kenneth Ng, who has a fund management background. 
President Director of <a href="https://www.smartkarma.com/entities/global-mediacom-tbk-pt" target="_blank" data-smartkarma-citation="entities:14005:1" rel="noopener">Global Mediacom (BMTR IJ)</a>, Hary Tanoesoedibjo, the major shareholder of <a href="https://www.smartkarma.com/entities/mnc-vision-networks-tbk-pt" target="_blank" data-smartkarma-citation="entities:28658:1" rel="noopener">MNC Vision Networks (IPTV IJ)</a> stated that the merger would not only help increase the company's cash flow but also strengthen the company's position as one of the leaders in the Indonesian OTT market. 
A successful SPAC listing for Asia Vision Networks (AVN) has the potential to crystalize some of the hidden value from its underlying businesses through a NASDAQ listing and hence provide a reference valuation for <a href="https://www.smartkarma.com/entities/mnc-vision-networks-tbk-pt" target="_blank" data-smartkarma-citation="entities:28658:1" rel="noopener">MNC Vision Networks (IPTV IJ),</a> as it remains the major shareholder even after the proposed SPAC listing is complete.
The belief is that AVN's growth potential will be more appreciated by US investors, especially since that market has a more developed IPTV and broadband ecosystem. Penetration rates for both Pay-TV and high-speed broadband are still very low in Indonesia relative to other ASEAN countries, underpinning future growth prospects.

MNC Vision Networks (IPTV IJ)'s subsidiary, PT Asia Vision Network (AVN), just announced that it will merge with Malacca Straits Acquisition Company Limited (NASDAQ: MLAC), a NASDAQ listed SPAC. This would be the first Indonesian company to undertake a SPAC listing in the U.S.
With the merger, the company's valuation is estimated to reach USD573m, with the transaction expected to be completed by the end of 2Q2021 or early  3Q2021. The transaction is also expected to bring around USD135m in fresh funds to the company, assuming there's no adjustment to the purchase price. 
PT Asia Vision Network (AVN) is Indonesia’s fastest-growing Over-The-Top (OTT) media business and is the holding company of Vision+, the 3rd largest broadband, and IPTV operator in Indonesia.
Malacca Straits Acquisition Company (MLAC US) is a publicly-traded special-purpose acquisition company, owned by Kenneth Ng, who has a fund management background. 
President Director of Global Mediacom (BMTR IJ), Hary Tanoesoedibjo, the major shareholder of MNC Vision Networks (IPTV IJ) stated that the merger would not only help increase the company's cash flow but also strengthen the company's position as one of the leaders in the Indonesian OTT market. 
A successful SPAC listing for Asia Vision Networks (AVN) has the potential to crystalize some of the hidden value from its underlying businesses through a NASDAQ listing and hence provide a reference valuation for MNC Vision Networks (IPTV IJ), as it remains the major shareholder even after the proposed SPAC listing is complete.
The belief is that AVN's growth potential will be more appreciated by US investors, especially since that market has a more developed IPTV and broadband ecosystem. Penetration rates for both Pay-TV and high-speed broadband are still very low in Indonesia relative to other ASEAN countries, underpinning future growth prospects. 

Malacca Straits Acquisition Company (MLAC US)

MNC Vision Networks (IPTV IJ) - SPAC Listing to Realize Value