Indonesia’s major state-owned-enterprise (SOE) banks will...

BANKS Indonesia Banks Erwin Wijaya

We reiterate our Buy recommendation on...

TELECOMS Telekomunikasi Indonesia Persero TLKM TLKM JK TLKM IJ Erwin Wijaya

We believe consumer sector is the least regulated...

CONSUMER RELATED Indonesia Consumer Sandy Ham Jody Wijaya Samuel Christian Nayla Yasmin

The recent MSCI-related volatility, which saw...

EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo

The recent MSCI announcement triggered broad-based selling...

BANKS Bank Central Asia BBCA BBCA JK BBCA IJ Erwin Wijaya

We initiate coverage of MDLA with a Buy...

HEALTH CARE AND PHARMACEUTICALS Medela Potentia MDLA MDLA JK MDLA IJ Jupriadi Tan David Tjahjadi

We reiterate our constructive view on Indonesia’s...

BANKS Indonesia banks Erwin Wijaya

A key success factor for market repair is...

TELECOMS Indonesia Telecoms Erwin Wijaya

In Indonesia, four-wheeler (4W) demand is structurally

AUTOS AND AUTO PARTS Indonesia autos Jupriadi Tan David Tjahjadi Gerald Hugo

AKRA continues to position itself as a structurally defensive...

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

While the government’s proposed increase in day-old-chick (DOC)...

CONSUMER RELATED Indonesia Poultry Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian

Our constructive view on Indonesia’s banking sector...

BANKS Indonesia Banks Erwin Wijaya

2025 remained a challenging year for Indonesia’s...

TELECOMS Indonesia Telecom and Tower Erwin Wijaya

We view the Nutritious Meal Program as an increasingly...

EQUITY STRATEGY Indonesia equity strategy Jupriadi Tan Gerald Hugo

Following BBRI's soft YTD Oct-2025 results, we revise...

BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya