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 - SCBX Transformed, Ace Hardware Time, and Pertamina Geo IPO

Bank Of Ayudhya (BAY TB) - Thai Retail Wizard Moving to ASEAN

The Week That Was in ASEAN@Smartkarma - Kungri's Reincarnation, BlueBird Is Back, and Bank Rakyat.

Siam Commercial Bank (SCB TB) - Let the Games Begin

Kasikornbank PCL (KBANK TB) - Replanting the Seeds of Growth

SCB : Recovery Amidst Rising Global Risks

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/siam-commercial-bank-scb-x" target="_blank" data-smartkarma-citation="entities:214:1" rel="noopener">Siam Commercial Bank (SCB TB)</a> booked a solid set of 4Q2022 results, with the first NIM expansion in two years and record high net interest income.</li>
<li>The bank also provided details of its mothership strategy, which has now come to fruition, with the restructuring process now complete with its increasingly strong digital credentials becoming clearer.</li>
<li>
<a href="https://www.smartkarma.com/entities/siam-commercial-bank-scb-x" target="_blank" data-smartkarma-citation="entities:214:1" rel="noopener">Siam Commercial Bank</a> remains attractive on valuations and probably deserves to trade at a premium to peers given its digital credentials but more data may be required to get there.</li>
</ul>



Siam Commercial Bank (SCB TB) booked a solid set of 4Q2022 results, with the first NIM expansion in two years and record high net interest income.
The bank also provided details of its mothership strategy, which has now come to fruition, with the restructuring process now complete with its increasingly strong digital credentials becoming clearer.

Siam Commercial Bank remains attractive on valuations and probably deserves to trade at a premium to peers given its digital credentials but more data may be required to get there.


Siam Commercial Bank (SCB TB) - Traversing Generations