This week's ASEAN offering across Smartkarma, put together in Jakarta, is another eclectic mix of bottom up differentiated bottom up ideas and insightful macro commentary. I include the key points from a company visit to Tower Bersama Infrastructure (TBIG IJ) below, which is likely to blow out the lights on its FY17 tower tenancy guidance. Scroll down for more detail.

In BVSC Vietnam Research Updates, one of our more recent insight providers BAOVIET Securities, provides us with updates on Loc Troi Group (LTG), which began trading on the UPCoM (unlisted public companies market) this week.  

In Astra International - Slowing Traffic, Jakarta Veteran Angus Mackintosh writes on the company post a meeting with the CFO in Jakarta.

In Beverage in Indonesia: Quench Your Thirst!, Henry Soediarko explores the drinks market in Indonesia and looks at beer players, Multi Bintang Indonesia Pt (MLBI IJ) and Delta Djakarta Tbk Pt (DLTA IJ). He also looks at a company that produces a UHT (Ultra-High-Temperature) packaged milk and fruit drink, Ultrajaya Milk Ind & Trading (ULTJ IJ). 

In her insight, IOI Corporation Berhad: Why Sell This Investment Grade (?) Issuer’s Stock?, Nandini Vijayaraghavan, CFA looks at this palm oil player and finds it surprising that there are so many positive views out there on the company.

In SPSB: Set to Acquire Largest Land Bank in Malaysia, Dr. Andrew Stotz, CFA works his magic on SP Setia Bhd (SPSB MK) and finds this property developer, which post a deal with  I&P Group, which brings its total land bank to more than 10,000 acres, is now the largest developer in Malaysia. 

In Singapore: External Solidity, Domestic Stresses. Jason Tan looks the strong area, such as manufacturing production as well the potential stress points for the Singapore economy, which are manifesting themselves through a softer labor market and a deterioration of debt payments by SOEs.

In The Yingluck Political Overhang, our Thai Guru Athaporn Arayasantiparb, CFA looks at the issue of Yingluck Shinawatra, Thailand’s former Prime Minister, who he thinks is unlikely to run for re-election but her elder sister Monthatip Kovitcharoenkul might.

In TLKM: Telecom Sales Ringing up at Home and Beyond, Dr. Andrew Stotz, CFA examines Telekomunikasi Indonesia (TLKM IJ) and assets that TLKM’s revenue should continue to be driven by growing data usage.

In Singapore Residential and Hospitality: Shorter Lease Tenures, but Not Short Enough, PropertyGuru notes that in several cities, including Singapore, home sharing platforms like Airbnb and HomeAway have faced an uphill battle with regulators, stepping on the toes of hotel operators who are seeing tourist dollars flow to individual homeowners. In this edition of the Guru View, they examine short term holiday rentals and the continued reason for its persistence despite the heavy penalties against it.

In Philippines: More Theatrics than Policy Details in State of the Nation Address, Manu Bhaskaran Comments on  President Rodrigo Duterte update to Congress on his policies for the coming year in his annual State of the Nation Address on 24 Jul 17th. 

In her insight, Dairy Farm International: Who Moved My Cheese?,  Viki W.K. Li suggests that the company has enjoyed being an oligopoly in Hong Kong and Singapore’s supermarket/hypermarket and personal health/beauty product industries for years. 

In Business DNA: Your Word Is Your Bond, Dr. Andrew Stotz, CFA welcomes us to Business DNA, a chance to dig into the essential makeup of business leaders and their organizations.  His guest today is Yeap Swee Chuan, who is Chairman and CEO of AAPICO Hitech. 

In two insights, Matahari Department Store: Leading Department Store Chain at a Discount Valuation and Matahari Department Store: Management’s Key Updates Plus Our Two Cents, Johannes Salim, CFA assesses the outlook for the company post its 1H17 numbers and some downbeat guidance for 2H17. 

In Indonesia: Can the Rupiah’s Stability Last?, Manu Bhaskaran suggests that years of ultra-loose monetary policy in advanced economies have led investors to seek out the Indonesian capital market for higher yields. 

In Unilever Indonesia - Nimble as Ever over Tough Terrain, former Jakartan Angus Mackintosh comments on this Indonesian consumer blue chip and remains confident in its ability to weather the difficult and ever-changing whims of the consumer. 

In Indonesia: Dispute Resolution Taking Shape, Manu Bhaskaran comments on the strikes at crucial Grasberg copper mine, which are persisting with about 5,000 Freeport-McMoRan employees will extend their strike for another month to press the company to resolve workers’ concerns. 

in Mandarin Oriental - Making Room, Viki W.K. Li notes that Mandarin Oriental Intl Ltd (MAND SP) is up 39% since June 5^th after announcing it is reviewing the long-term strategic options for the Excelsior Hotel. he asks whether this is all priced in and suggests that there is potentially significantly more upside to US$3.58 per share. 

In IPO Radar: Thonburi, Scruffy Hospital from the West Side Yo!, our Thai Guru Athaporn Arayasantiparb, CFA look at a small hospital player, Thonburi (THG), which could be listed some time this year. 

In GENS SP (Genting Singapore) - Bullish to 1.5, Federico D'Inca assesses the technicals behind this gaming stock and sees further upside from here.

In PT Chandra Asri Placement: Deserves Premium for Strong Fundamentals and Leadership, our own Ke Yan, CFA, FRM looks at leading Indonesia petrochemical player Chandra Asri Petrochemical (TPIA IJ, which is raising USD380m through a rights issue.

 In Singapore’s Logistics Infrastructure Isn’t Quite Ready For Amazon Yet - But That Will Change Quickly, Daniel Hellberg notes that given its high GDP level, well-developed retail markets, and ubiquitous connectivity, Singapore has disappointingly low levels of retail e-commerce relative to peers. But the heralded arrival of Amazon.com Inc (AMZN US) in Singapore late last month, promises to catalyze a sharp increase in online retail activity over the next few years. 

In Reigning in Provision Costs, Despite Higher Bad Loans: DBS, banking specialist Daniel Tabbush highlights that DBS Group Holdings Ltd (DBS SP) ’s bad loans were up 37% in the past year, while its provision expenses were down 17% over the same period.  Daniel suggests that while DBS may have reported a net profit as per what most were expecting, it is very much due to contracting provision expenses, and not fully supported by the same profile in credit quality.

in CapitaLand Posts In-Line 2Q Result; Long-Term Thesis Intact, Morningstar look at  Capitaland Ltd (CAPL SP), which posted a good second-quarter result. 

In Sector Capsule: Cigarettes in Malaysia, Yu Mitsuhashi examines the dynamics of the Malaysian cigarette market, which saw cigarette value and volume sales of cigarettes declined by 15% and 12%, respectively in 2016. 

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