We estimate KLBF to record a sales CAGR of +7.5% (2018-2024F),

GENERAL CONSUMER KLBF KLBF JK KLBF IJ Sandy Ham Jody Wijaya Samuel Christian

In this Flow Radar, funds edition, we assess the cash positions and top 10 holdings of funds in January and Fe

EQUITY STRATEGY David Tjahjadi Nicholas Goei Jupriadi Tan Gerald Hugo

BBCA just released its bank-only Feb-25 results. Given that February is shorter than other months,

BANKS BBCA BBCA JK BBCA IJ Erwin Wijaya

We write this report to respond to investors’ concerns about Chinese FMCG companies competing in Indonesia.

FOOD AND BEVERAGE Sandy Ham Jody Wijaya Samuel Christian

For decades, East Asian popular culture, including K-pop, K-dramas, and anime, has thrived domestically.

GENERAL CONSUMER Jody Wijaya Sandy Ham Samuel Christian

The Indonesian government recently announced a proposal to revamp the royalty schemes for natural resources.

METALS AND MINING Michael Wildon Ng Edward Prima

4W sales rebounded in February 2025, driven by IIMS (Indonesia International Motor Show) expo;

AUTOS AND AUTO PARTS Jupriadi Tan David Tjahjadi Gerald Hug

Across major telcos, we anticipate growing efforts to foster a healthier market environment.

TELECOMS Erwin Wijaya

EXCL and FREN (FREN IJ, Not rated) had in 2024 officially announced a definitive agreement for a proposed merg

TELECOMS EXCL EXCL JK EXCL IJ Erwin Wijaya

YTD 7 Mar 2025, major Indonesia banks saw heavy selling pressure from foreign investors,

BANKS Erwin Wijaya

We expect the Indonesia banking sector to continue to experience liquidity issues in 2025F.

BANKS BDMN BDMN JK BDMN IJ Erwin Wijaya

We believe that small-to-mid-sized Indonesia banks will continue to face pressures from the major banks.

BANKS BBTN BBTN JK BBTN IJ Erwin Wijaya

We have observed strong FMCG sales value growth in rural areas,

GENERAL CONSUMER Sandy Ham Jody Wijaya Samuel Christian

The Indonesia banking sector is likely to continue to face liquidity issues in 2025F,

BANKS PNBN PNBN JK PNBN IJ Erwin Wijaya

Our analysis suggests that local investors continue to seek shelter in liquid names.

EQUITY STRATEGY David Tjahjadi Nicholas Goei Jupriadi Tan Gerald Hugo