BMRI has released its FY24 results with headline consolidated profit at IDR55.8tn (+1.3% y-y).

Banks BMRI BMRI JK BMRI IJ Erwin Wijaya

We estimate KLBF booked 7-8% y-y sales growth in 4Q24F, driven by its pharma and consumer health divisions.

General Consumer KLBF KLBF JK KLBF IJ Sandy Ham Jody Wijaya Samuel Christian

Post FY24 results, we revise FY25F-26F earnings estimates. We also add a new forecast year FY27F.

Banks BBNI BBNI JK BBNI IJ Erwin Wijaya

Based on the latest SRBI issuances (dated 31 Jan 2025), we see some improvements in liquidity

Banks Erwin Wijaya

We have updated our earnings projections for BBCA for FY25-26F

Banks BBCA BBCA JK BBCA IJ Erwin Wijaya

Our proprietary Verdhana Macro-Micro Index (VMMI, see previous reports here and here)

Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi

BBCA released its FY24 results with headline profit at IDR54.8tn (+13% y-y),

Banks BBCA BBCA JK BBCA IJ Erwin Wijaya

BBNI released its FY24 results with a net profit of IDR21.5tn (+3% y-y),

Banks BBNI BBNI JK BBNI IJ Erwin Wijaya

In our opinion, the last three SRBI (Sekuritas Rupiah Bank Indonesia) issuances this year,

Banks Erwin Wijaya

We maintain a neutral outlook for the auto sector. FY24 sales reached the lowest level since 2011

Autos Auto Parts Jupriadi Tan David Tjahjadi Gerald Hugo

Bank Indonesia has made a surprise 25bp benchmark rate cut to 5.75%.

Banks Erwin Wijaya

Overall, the bank sees improvements in its micro segment,

Banks BBRI BBRI JK BBRI IJ Erwin Wijaya

In this Nusantara (previous one on e-bike here), we provide our findings from our on-the-ground survey

Equity Strategy Jupriadi Tan Gerald Hugo

According to BBRI, the government has finalized the KUR (People’s Business Credit) disbursement target of IDR3

Banks BBRI BBRI JK BBRI IJ Nicholas Santoso Erwin Wijaya

Conglomerates play a crucial role in nation-building. In this report, we analyze the businesses, profitability

Conglomerates Jupriadi Tan David Tjahjadi Gerald Hugo