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

XL Axiata (EXCL IJ) - Converging on Homes and Offices

Indosat Tbk PT (ISAT IJ) - A Turnaround in the Making?

The Week That Was in ASEAN@Smartkarma - XL Coverging, Kalbe Rebalancing, and SCB Refocusing

XL Axiata (EXCL IJ) - Rising Through The Cloud

XL Axiata (EXCL IJ) - High-Speed Digital Enabler

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/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata (EXCL IJ)</a> released 3Q2021 with another quarter with QoQ growth with strong product traction and a growing subscriber base plus stable ARPU. </li>
<li>Ongoing consolidation in the Indonesian mobile space should mean more stable pricing and <a href="https://www.smartkarma.com/entities/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata (EXCL IJ)</a> has started to increase prices. </li>
<li>
<a href="https://www.smartkarma.com/entities/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata (EXCL IJ)</a> is our top pick in the Indonesian mobile sector given it is the most focused on data and offers truly converged services to customers.  </li>
</ul>



XL Axiata (EXCL IJ) released 3Q2021 with another quarter with QoQ growth with strong product traction and a growing subscriber base plus stable ARPU. 
Ongoing consolidation in the Indonesian mobile space should mean more stable pricing and XL Axiata (EXCL IJ) has started to increase prices. 

XL Axiata (EXCL IJ) is our top pick in the Indonesian mobile sector given it is the most focused on data and offers truly converged services to customers.  


XL Axiata (EXCL IJ) - Mercury Rising in Data