Mayora Indah (MYOR IJ) (Buy) - FMCG innovation champion
SH SC JWMYOR has consistently innovated to expand its market share domestically and abroad...
CONSUMER RELATED Mayora Indah MYOR MYOR JK MYOR IJ Sandy Ham Samuel Christian Jody Wijaya
MYOR has consistently innovated to expand its market share domestically and abroad...
CONSUMER RELATED Mayora Indah MYOR MYOR JK MYOR IJ Sandy Ham Samuel Christian Jody Wijaya
We have been observing that middle-income-class consumers largely continue...
Based on our market survey of FMCG producers, we believe that...
CONSUMER RELATED Indonesia FMCG Sandy Ham Samuel Christian Jody Wijaya
We estimate that the FMCG firms under our...
Overall, FMCG firms’ 4Q24 earnings were mostly in line with market expectations.
We write this report to respond to investors’ concerns about Chinese FMCG companies competing in Indonesia.
We have observed strong FMCG sales value growth in rural areas,
We believe the middle-income class continues to prefer value-for-money FMCG products,
We believe competitive pricing and strong branding remain the best catalysts to succeed in the Indonesia FMCG
We believe Indonesia’s logistics market is a potentially lucrative segment that is still underpenetrated.
Transport Logistics FMCG Jupriadi Tan David Tjahjadi Gerald Hugo
Overall listed FMCG firms’ sales growth hovered at 10.9% y-y in 3Q24 (vs 3.9% in 3Q23),
Despite the anticipated rate cut cycle, we believe Indonesia banks have limited room to lower their cost of fu
Our survey on wholesalers and distributors of 15 large FMCG firms suggests that 3Q24F sales performance remain
We continue to like the six FMCG stocks (out of 12 under our coverage) in the order of
AMRT has consistently outperformed its FMCG peers in terms of sales growth over the past decade
Consumer AMRT JK AMRT IJ Jody Wijaya Sandy Ham Samuel Christian