We initiate coverage of Metrodata Electronics (MTDL) and Mastersystem Infotama (MSTI) with Buy ratings,

TECHNOLOGY Jupriadi Tan David Tjahjadi Gerald Hugo

AKRA’s share price has declined by -19% over the past three months,

POWER AND UTILITIES AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo

Indonesia Flow Radar is a report series in which we track stock ownership

Equity Strategy Nicholas Goei David Tjahjadi Jupriadi Tan Gerald Hugo

Our proprietary Verdhana Macro-Micro Index (VMMI, see previous reports here and here)

Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi

We maintain a neutral outlook for the auto sector. FY24 sales reached the lowest level since 2011

Autos Auto Parts Jupriadi Tan David Tjahjadi Gerald Hugo

In this Nusantara (previous one on e-bike here), we provide our findings from our on-the-ground survey

Equity Strategy Jupriadi Tan Gerald Hugo

Conglomerates play a crucial role in nation-building. In this report, we analyze the businesses, profitability

Conglomerates Jupriadi Tan David Tjahjadi Gerald Hugo

We reduce FY24F/25F/26F earnings estimates by 20%/12%/5.1% as JIIPE (Java Integrated Industrial and Port Estat

POWER UTILITIES AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo

We cut our FY24F/25F/26F earnings estimates for DRMA by 6.5%/9.0%/9.3% on likely subdued 4W wholesales in 2024

AUTOS AUTO PARTS DRMA DRMA JK DRMA IJ Jupriadi Tan David Tjahjadi Gerald Hugo

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

Transport Logistics FMCG Jupriadi Tan David Tjahjadi Gerald Hugo

GJAW 2024, as the third automotive expo this year, underscored the changing dynamics of Indonesia’s automotive

Autos Auto Parts Jupriadi Tan Gerald Hugo

In line with insights from our Anchor Report on purchasing power,

Equity Strategy Jupriadi Tan Gerald Hugo

The wholesales of 4W market in 10M24 remained weak, with sales volume down 15% yoy to 710k units.

Autos Autos Parts Jupriadi Tan Gerald Hugo

We hosted Verdhana Indonesia Conference 2024 – Passing the Baton on 4-8 November 2024.

Equity Strategy Jupriadi Tan Gerald Hugo Nicholas Santoso Erwin Wijaya Sandy Ham Jody Wijaya Samuel Christian Michael Wildon Edward Prima Felix Justin

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

Equity Strategy Jupriadi Tan Gerald Hugo