AMRT has consistently outperformed its FMCG peers in terms of sales growth over the past decade

Consumer AMRT JK AMRT IJ Jody Wijaya Sandy Ham Samuel Christian

BRIS has released its YTD Aug-24 results, which came in largely inline with our projections.

Banks BRIS JK BRIS IJ Nicholas Santoso Erwin Wijaya

BBNI has released its bank-only YTD Aug-24 results, which suggest limited operating improvements for the bank.

Banks BBNI JK BBNI IJ Nicholas Santoso Erwin Wijaya

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

On a YTD basis, BBRI’s share price has underperformed its peers (BMRI / BBCA / BBNI / BRIS – all Buys)

Banks BBRI JK BBRI IJ Nicholas Santoso Erwin Wijaya

BBCA has released its bank-only Aug-24 results. Monthly earnings of IDR4.6tn (-6% m-m / +22% y-y)

Banks BBCA JK BBCA IJ Nicholas Santoso Erwin Wijaya

BBRI has released its bank-only Aug-24 results which suggests potential for the bank

Banks BBRI JK BBRI IJ Nicholas Santoso Erwin Wijaya

Following on our recent note on the banking sector (Indonesia Banks) in

Banks Nicholas Santoso Erwin 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

BBNI’s YTD Jul-24 results suggest minor operating improvement for the bank.

Banks BBNI JK BBNI IJ Nicholas Santoso Erwin Wijaya

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

BRIS’s share price has had a good run (YTD +78%), and post-merger, it has reached an all-time high of IDR3,10

Banks BRIS JK BRIS IJ Nicholas Santoso Erwin Wijaya

We expect easing liquidity for the Indonesian banking sector in 4Q24,

Banks Nicholas Santoso Erwin Wijaya

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