AKRA reported stable 3Q25 results with NPAT of...

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

Major developers (Ciputra Development [CTRA IJ, Buy]...

PROPERTY Indonesia Property Gerald Hugo Felix Justin Jupriadi Tan

ASSA booked another record quarter, with 3Q25...

TRANSPORT LOGISTICS Adi Sarana Armada ASSA ASSA JK ASSA IJ Jupriadi Tan David Tjahjadi Gerald Hugo

We project BIRD’s revenue to record a CAGR of...

TRANSPORT LOGISTICS Blue Bird BIRD BIRD JK BIRD IJ Jupriadi Tan David Tjahjadi Gerald Hugo

Telkom on 21 Oct 2025 announced the signing of a conditional spin-off agreement..

TELECOMS TLKM TLKM JK TLKM IJ Erwin Wijaya

BBCA released its 9M25 results, with headline ...

BANKS Bank Central Asia BBCA BBCA JK BBCA IJ Erwin Wijaya

We upgrade our NPAT forecast by 21%/22%/13% for FY25F/26F27F on...

FOOD AND BEVERAGE Mulia Boga Raya KEJU KEJU JK KEJU IJ Sandy Ham Samuel Christian Jody Wijaya

YTD, our covered major Indonesia banks (BBCA / BMRI / BBRI / BBNI – all rated...

BANKS Indonesia Banks Erwin Wijaya

In the months since his appointment, Minister Purbaya has...

EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi Felix Justin

We are positive on the Indonesia property sector, underpinned by a...

PROPERTY Indonesia Property Gerald Hugo Felix Justin Jupriadi Tan

We upgrade our NPAT forecasts by +4.3%/4.6% for FY25F/FY26F...

GENERAL CONSUMER Cisarua Mountain Dairy CMRY CMRY JK CMRY IJ Sandy Ham Samuel Christian Jody Wijaya

Indonesia gold miners poised for rerating...

METALS AND MINING Indonesia Gold Michael Wildon Ng

We revise up our ASP forecasts for TAPG by...

AGRI-RELATED Triputra Agro Persada TAPG TAPG JK TAPG IJ Sandy Ham Samuel Christian

We continue to expect modest earnings delivery for the Indonesia...

RETAIL Indonesia Retailers Jody Wijaya Sandy Ham Samuel Christian

Our survey of 23 FMCG firms suggests that consumption in 3Q25F...

CONSUMER RELATED Indonesia Consumer Sandy Ham Samuel Christian Jody Wijaya