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 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

Consumer Related 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

ICBP’s share price has performed well in the past three months (3M: +23% vs JCI 12.5%),

Food and Beverage ICBP JK ICBP IJ Sandy Ham Jody Wijaya

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

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

Food and Beverage 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

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

Telco EXCL 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