Our proprietary Verdhana Macro-Micro Index indicated a notable acceleration in consumer transactions in 1Q25..

EQUITY STRATEGY Jupriadi Tan Gerald Hugo

ARTO released its 1Q25 results, which were pretty solid, in our opinion...

BANKS ARTO ARTO JK ARTO IJ Erwin Wijaya

Bank Indonesia (BI) has cut its benchmark rate by 25bp to 5.50%,...

BANKS Erwin Wijaya

ERAA’s performance has been underwhelming over the past three years...

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

BBCA just released its bank-only Apr-25 results. Overall, we think...

BANKS BBCA BBCA JK BBCA IJ Erwin Wijaya

Over the past year, major Indonesia banking stocks have been...

BANKS Erwin Wijaya

We believe reducing the income gap between rich and poor is the ultimate goal...

CONSUMER RELATED Sandy Ham Jody Wijaya Samuel Christian

We cut Astra’s earnings for 2025F/2026F by 7%/5% and introduce 2027F earnings...

AUTOS AND AUTO PARTS ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi Gerald Hugo

Indonesia’s major telco companies...

TELECOMS Erwin Wijaya

MTEL has released its 1Q25 results, which were in line with our projections...

TELECOMS MTEL MTEL JK MTEL IJ Erwin Wijaya

Indonesia banks have published their bank-only YTD Mar-25 results...

BANKS Erwin Wijaya

we examine the 1Q25 results and do a deep dive into the automotive...

AUTOS AND AUTO PARTS Jupriadi Tan David Tjahjadi Gerald Hugo

ANTM booked strong 1Q25 earnings of IDR2.1tn...

METALS AND MINING ANTM ANTM JK ANTM IJ Michael Wildon Edward Prima

INDY booked 1Q25 earnings of USD3mn (-85% y-y)...

COAL INDY INDY JK INDY IJ Michael Wildon Ng Edward Prima

Overall 1Q25 results were soft and behind our expectations...

COAL ADMR ADMR JK ADMR IJ Michael Wildon Ng Edward Prima