A dividend aristocrat refers to a company that has paid...

AUTOS AND AUTO PARTS Selamat Sempurna SMSM SMSM JK SMSM IJ

We project SIDO to record +4.3% y-y sales growth in 2H25F...

FOOD AND BEVERAGE Industri Jamu Dan Farmasi Sido Muncul SIDO SIDO JK SIDO IJ Sandy Ham Samuel Christian Jody WIjaya

Of late, major Indonesia banking stocks have been under persistent selling

BANKS Indonesia Banks Erwin Wijaya Gerald Hugo

We lower FY25-27F EPS by 1.1-4.4% to reflect the challenging...

TELECOMS Telekomunikasi Indonesia Persero TLKM TLKM JK TLKM IJ Erwin Wijaya

Following BBNI's YTD Jul-2025 results, we revise our FY25-27F...

BANKS Bank Negara Indonesia BBNI BBNI JK BBNI IJ Erwin Wijaya

We revise our FY25F-27F earnings forecasts for BMRI to reflect the...

BANKS Bank Mandiri BMRI BMRI JK BMRI IJ Erwin Wijaya

In this note, we assess the preconditions for a four-wheeler (4W) sales recovery to...

AUTOS AUTO PARTS Indonesia Auto Jupriadi Tan David Tjahjadi Gerald Hugo

BBNI has released its bank-only Jul-25 results, which came in behind our ...

BANKS Bank Negara Indonesia BBNI BBNI JK BBNI IJ Erwin Wijaya

ANTM delivered an impressive set of 2Q25 results, above our/consensus forecasts...

METALS AND MINING Aneka Tambang ANTM ANTM JK ANTM IJ Michael Wildon Ng

SRTG continues to trade at a steep discount to NAV of ~55%, near its...

CONGLOMERATES Saratoga Investama Sedaya SRTG SRTG JK SRTG IJ Jupriadi Tan David Tjahjadi Gerald Hugo

Liquidity conditions are turning more supportive. M2 growth has continued to...

BANKS Indonesia Banks Erwin Wijaya

BBRI has released its bank-only Jul-25 results, which came in...

BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya

In this note we provide a detailed breakdown of each of UNTR’s segments...

ENGINEERING AND CONSTRUCTION United Tractors UNTR UNTR JK UNTR IJ Michael Wildon Ng

BBCA released its bank-only Jul-25 results on 19 August...

BANKS Bank Central Asia BBCA BBCA JK BBCA IJ Erwin Wijaya

Erajaya (ERAA) delivered its best-ever quarterly sales and net profit in 2Q25...

RETAIL Erajaya Swasembada ERAA ERAA JK ERAA IJ Jody Wijaya Sandy Ham Samuel Christian