yudi
Administrator
Joined 1 year ago
Active
-
Indonesia Banks - Strengthening tailwinds
EWLiquidity conditions are turning more supportive. M2 growth has continued to...
-
Bank Rakyat Indonesia (BBRI IJ) (Buy) - YTD Jul-25 profit -9% y-y
EWBBRI has released its bank-only Jul-25 results, which came in...
BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya
-
United Tractors (UNTR IJ) (Buy) - Unpacking UNTR’s assets
MWIn 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
-
Bank Central Asia (BBCA IJ) (Buy) - Resilient YTD Jul-25 results
EWBBCA released its bank-only Jul-25 results on 19 August...
-
Erajaya Swasembada (ERAA IJ) (Buy) - Eyeing the next catalyst
JW SH SCErajaya (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
-
Indonesia Banks - Flat interest rate subsidies
EWThe government’s draft 2026 budget sets interest rate subsidies for program loans...
-
Indonesia Telecoms - Towards better sustainability
EWIn Feb-25, we wrote about what it would take to improve sustainability in the cellular space...
-
Indonesia Consumer - Acceleration of government’s free nutritious meal program
SH SC JWWe expect a jump in terms of the number of kitchens (SPPG) opening in Aug-25...
CONSUMER RELATED Indonesia Consumer Sandy Ham Samuel Christian Jody Wijaya
-
Indonesia Equity Strategy - Verdhana Connect – Indonesia Macro and Banks Day
JT GH EWWe hosted Verdhana Connect – Indonesia Macro and Banks Day on 13-14 August 2025,...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo Erwin Wijaya
-
Indonesia Banks - Potentially lower yield for government bonds
EWWe look at recent trends in Bank Indonesia Rupiah Securities’ (SRBI) declining yields...
-
Astra International (ASII IJ) (Buy) - Unpacking Astra’s assets
JT DT GHIn this report, we dissect Astra’s (ASII IJ, Buy) holdings (specifically the top 9 companies under it)...
AUTOS AUTO PARTS Astra International ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi Gerald Hugo
-
Map Aktif Adiperkasa (MAPA IJ) (Buy) - Overseas drives margin afloat
JW SH SCMAPA recorded its slowest 1H y-y sales growth on record, with 1H25...
RETAIL Map Aktif Adiperkasa MAPA MAPA JK MAPA IJ Jody Wijaya Sandy Ham Samuel Christian
-
Medco Energi Internasional (MEDC IJ) (Buy) - Accretive 24% Corridor acquisition
MWMEDC posted 2Q25 revenue of USD554mn (-1% q-q, -5% y-y), with...
OIL AND GAS CHEMICALS ASIA Medco Energi Internasional MEDC MEDC JK MEDC IJ Michael Wildon Ng
-
Midi Utama Indonesia (MIDI IJ) (Buy) - Turning the page from Lawson
JW SH SCFollowing the Lawson (unlisted) divestment in mid-May 2025, MIDI no longer...
RETAIL Midi Utama Indonesia MIDI MIDI JK MIDI IJ Jody Wijaya Sandy Ham Samuel Christian
-
Sumber Alfaria Trijaya (AMRT IJ) (Buy) - Quietly outperforming
JW SH SCAlfamart's SSSG in 2Q25 declined by 3% y-y, marking the first negative quarterly...
CONSUMER RELATED Sumber Alfaria Trijaya AMRT AMRT JK AMRT IJ Jody Wijaya Sandy Ham Samuel Christian