We have observed strong FMCG sales value growth in rural areas,

GENERAL CONSUMER Sandy Ham Jody Wijaya Samuel Christian

We believe the middle-income class continues to prefer value-for-money FMCG products,

CONSUMER RELATED Sandy Ham Jody Wijaya Samuel Christian

We believe competitive pricing and strong branding remain the best catalysts to succeed in the Indonesia FMCG

FOOD And BEVERAGE Sandy Ham Jody Wijaya Samuel Christian

We believe Indonesia’s logistics market is a potentially lucrative segment that is still underpenetrated.

Transport Logistics FMCG Jupriadi Tan David Tjahjadi Gerald Hugo

Overall listed FMCG firms’ sales growth hovered at 10.9% y-y in 3Q24 (vs 3.9% in 3Q23),

Food Beverage FMCG Sandy Ham Jody Wijaya Samuel Christian

Despite the anticipated rate cut cycle, we believe Indonesia banks have limited room to lower their cost of fu

Equity Strategy Jupriadi Tan Erwin Wijaya

Our survey on wholesalers and distributors of 15 large FMCG firms suggests that 3Q24F sales performance remain

Food and Beverage Sandy Ham Jody Wijaya Samuel Christian

We continue to like the six FMCG stocks (out of 12 under our coverage) in the order of

Food Beverage Sandy Ham Jody Wijaya Samuel Christian

AMRT has consistently outperformed its FMCG peers in terms of sales growth over the past decade

Consumer AMRT JK AMRT IJ Jody Wijaya Sandy Ham Samuel Christian

Our analysis of FMCG and retail sales data of companies we track across Indonesia suggests that Sulawesi,

General Consumer Sandy Ham Jody Wijaya Samuel Christian

Indonesia listed FMCG firms have performed quite well relative to other ASEAN peers in terms of sales and earn

Food and Beverage Sandy Ham Jody Wijaya Samuel Christian

As mentioned in our previous reports, Indonesia local FMCG companies have

Consumer UNVR JK UNVR IJ Sandy Ham Jody Wijaya Samuel Christian

The Minister of Health (MoH) plans to implement the Nutri-Grade labelling system for beverages

Food and Beverage Sandy Ham Jody Wijaya Samuel Christian

Based on our survey of FMCG wholesalers and distributors, we reckon that ULTJ booked very strong sales growth

Food Beverage ULTJ Sandy Ham Jody Wijaya Samuel Christian

MYOR is one of the biggest and fastest-growing FMCG exporters among listed firms in Indonesia

Consumer Sandy Ham Jody Wijaya Samuel Christian