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

PT Nippon Indosari Corpindo (ROTI IJ) - Oven Ready Despite the Wheat Price

PT Nippon Indosari Corpindo (ROTI IJ) - Adding Chocolate Spread and UHT Milk to the Mix

The Week That Was in ASEAN@Smartkarma - Adaro's Sustainability, ROTI's Diversification, and BUKA.

Nippon Indosari Corpindo (ROTI IJ) - The Breadmaker Cometh

PT Nippon Indosari Corpindo (ROTI IJ) - Oven Ready

PT Nippon Indosari Corpindo (ROTI IJ) - ROTI's Exit from Philippines a Positive

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

PT Nippon Indosari Corpindo Tbk. (ROTI) / Equity Bottom-Up

PT Nippon Indosari Corpindo Tbk. (ROTI) (ROTI IJ)

<ul>
<li>Indonesia's leading mass-market bread producer <a href="https://www.smartkarma.com/entities/nippon-indosari-corpindo-tbk-pt" target="_blank" data-smartkarma-citation="entities:1181:1" rel="noopener">PT Nippon Indosari Corpindo (ROTI IJ)</a> booked a strong set of FY2021, with general trade driving growth, and greater efficiencies enhancing margins and FY2021 growth.</li>
<li>The company continues to improve its product mix and distribution to cater for more home consumption and also continues to push out into East and West Indonesia geographically.</li>
<li>Higher wheat prices are a risk but the company has bought forward and will increase prices if needs to be offset higher cost. Valuations are attractive versus history. </li>
</ul>


Indonesia's leading mass-market bread producer PT Nippon Indosari Corpindo (ROTI IJ) booked a strong set of FY2021, with general trade driving growth, and greater efficiencies enhancing margins and FY2021 growth.
The company continues to improve its product mix and distribution to cater for more home consumption and also continues to push out into East and West Indonesia geographically.
Higher wheat prices are a risk but the company has bought forward and will increase prices if needs to be offset higher cost. Valuations are attractive versus history. 


PT Nippon Indosari Corpindo (ROTI) - Bringing the Bread Home