Based on our conversation with industry players and data from Indonesia Association of Medical Devices Manufac
Health care Pharmaceuticals Sandy Ham Jody Wijaya Samuel Christian
Overall listed FMCG firms’ sales growth hovered at 10.9% y-y in 3Q24 (vs 3.9% in 3Q23),
Our survey on wholesalers and distributors of 15 large FMCG firms suggests that 3Q24F sales performance remain
We believe Mayora’s 3Q24F GPM will likely be lower than market expectation due to the full impact of higher co
Consumer Related MYOR JK MYOR IJ Sandy Ham Jody Wijaya Samuel Christian
Indonesia is a young nation (110mn population are below 40yrs, based on BPS) as well as social media-savvy (th
We continue to like the six FMCG stocks (out of 12 under our coverage) in the order of
ICBP’s share price has performed well in the past three months (3M: +23% vs JCI 12.5%),
Our analysis of FMCG and retail sales data of companies we track across Indonesia suggests that Sulawesi,
Indonesia listed FMCG firms have performed quite well relative to other ASEAN peers in terms of sales and earn
As mentioned in our previous reports, Indonesia local FMCG companies have
Consumer UNVR JK UNVR IJ Sandy Ham Jody Wijaya Samuel Christian
Based on our survey of distributors and wholesalers, MYOR's domestic sales may have grown
Consumer MYOR JK MYOR IJ Sandy Ham Jody Wijaya Samuel Christian
Our survey with distributors and wholesalers indicated that CLEO’s sales growth
The Minister of Health (MoH) plans to implement the Nutri-Grade labelling system for beverages
Consumer health is a very crucial division for KLBF, as it possesses the highest margin,
General Consumer Kalbe KLBF JK KLBF IJ Sandy Ham Jody Wijaya Samuel Christian
In this note, we reiterate our Buy call on the stock following the recent announcement that XL has entered
