The plan to revise the minimum wage formula (news) presents an opportunity to enhance purchasing power, which

Equity Strategy Jupriadi Tan Gerald Hugo

We hosted several property companies for discussions around recent results and the outlook for property compan

Property Gerald Hugo Felix Justin Jupriadi Tan

As of Oct-24, the government introduced several regulations that will benefit the local ceramic industry,

Construction Materials ARNA ARNA JK ARNA IJ Michael Wildon Edward Prima Gerald Hugo

We compile Indonesia equities’ 9M24 results and provide a bottom-up assessment of which ones were above/in-lin

Equity Strategy Gerald Hugo Jupriadi Tan

Indonesia market view: While the current knee-jerk weakness has been expected, we recommend investors to not j

Equity Strategy Gerald Hugo Jupriadi Tan

One of the key projects from Indonesia’s new government is the Nutritious Meal Program (NMP)

Equity Strategy Gerald Hugo Jupriadi Tan

Indonesia’s automotive and transport sector has reported relatively strong results for 9M24 despite weak 4W s

Autos Auto Parts Jupriadi Tan Gerald Hugo

ASII reported 3Q24 results, with revenue at IDR86tn (+10% y-y) and NPAT of IDR10tn (+21% y-y),

Autos Auto Parts ASII ASII JK ASII IJ Jupriadi Tan Gerald Hugo

The ceramic industry is currently benefiting from three significant tailwinds, in our view.

Construction Materials ARNA ARNA JK ARNA IJ Michael Wildon Edward Prima Gerald Hugo

AKRA delivered weak 9M24 result as expected, due to the weak trading business as

Power Utilities Jupriadi Tan Gerald Hugo

We introduce the Nusantara Series, an in-depth market research that leverages our surveys and channel checks a

Autos Auto Parts Jupriadi Tan Gerald Hugo

Indonesia's 9M24 4W sales reached IDR232tn (-12% y-y), with 633k units sold (-16% y-y) at an ASP of IDR368mn (

Autos Auto Parts Jupriadi Tan Gerald Hugo

We recently visited WINS' newly acquired Platform Supply Vessel (PSV), the WM Mentawai, in Batam, Indonesia.

Transportation and Logistic WINS JK WINS IJ Jupriadi Tan Gerald Hugo

We trim our 2024F/2025F earnings estimates for AKRA by 7.2%/3.4% due to unfavorable general market conditions

Power and Utilities AKRA JK AKRA IJ Jupriadi Tan Gerald Hugo

Car sales in Indonesia have been sluggish — the latest sales (6MMA) at 70k vs pre-COVID normalized period of 8

Autos Auto Parts Jupriadi Tan Gerald Hugo