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 - Grab Chat, Telkom Oversold, and SET50 Rebalance.

Telekomunikasi Indonesia (TLKM IJ) - Transforming with a Digital Core

Telkom Indonesia (TLKM IJ) - Ring My Digital Bell

Telekomunikasi Indonesia (TLKM IJ) - Dancing with the Digital Economy

Telkom Indonesia (TLKM IJ) - Digital Evidence

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

Telekomunikasi Indonesia / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/telekomunikasi-indonesia" target="_blank" data-smartkarma-citation="entities:1051:1" rel="noopener">Telekomunikasi Indonesia (TLKM IJ)</a> produced what looked like a decent set of 9M2022 numbers as it seeks out its future digital reincarnation. </li>
<li>Data continues to dominate revenues, making up 81% of Telkomsel revenue, with Indihome becoming increasingly important at nearly 20% of total revenue, with data centres set to become increasingly important.</li>
<li>The recent sell-off looks more to do with year-end liquidity flows than fundamentals with valuations looking increasingly attractive. </li>
</ul>



Telekomunikasi Indonesia (TLKM IJ) produced what looked like a decent set of 9M2022 numbers as it seeks out its future digital reincarnation. 
Data continues to dominate revenues, making up 81% of Telkomsel revenue, with Indihome becoming increasingly important at nearly 20% of total revenue, with data centres set to become increasingly important.
The recent sell-off looks more to do with year-end liquidity flows than fundamentals with valuations looking increasingly attractive. 


Telekomunikasi Indonesia (TLKM IJ) - Increasingly Digital