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BEWARE OF FRAUDULENT SCHEMES CLAIMING TO REPRESENT PT VERDHANA SEKURITAS INDONESIA

  • Please be cautious of any fraudulent schemes conducted by parties claiming to represent PT Verdhana Sekuritas Indonesia. These scams often use the name, logo, and identity of PT Verdhana Sekuritas Indonesia to pose as official company representatives.
  • Identified scam methods include investment fraud, job offers, task assignments, or other programs that appear to offer monetary rewards or commissions. Please remain vigilant against other forms of fraud as well.
  • These scams may be carried out through various media channels, including:
    1. Fake websites;
    2. Messaging apps such as WhatsApp, Telegram, SMS, etc.;
    3. Fake emails and letters;
    4. Fraudulent phone calls. 
  • PT Verdhana Sekuritas Indonesia operates solely as a Securities Broker-Dealer and Underwriter. We are not an investment manager or an institution that offers investment programs, job offers, commission-based tasks, or other financial schemes directly to the public via social media, private messages, phone calls, or unofficial individual agents. We do not appoint any individual or third party to collect funds from the public. 
  • We never request the public, prospective clients, or our clients to (1) conduct cash transactions or (2) transfer funds to any personal account of individuals claiming to be employees or representatives of PT Verdhana Sekuritas Indonesia.
  • Official information from PT Verdhana Sekuritas Indonesia is communicated only through our official channels:
    Website: www.verdhana.id and www.verdhanaresearch.com 
    Email: info@verdhana.id
    Phone: (021) 5098 5799
    Address: Deutsche Bank Building, 18th Floor, Jl. Imam Bonjol No. 80, Jakarta 10310 
  • If you receive any suspicious messages, offers, or solicitations conducted by parties claiming to represent PT Verdhana Sekuritas Indonesia, please do not respond and report them immediately to us via email at info@verdhana.id.
    This announcement is hereby conveyed. Thank you for your attention and for placing your trust in PT Verdhana Sekuritas Indonesia.
    Sincerely,

    PT Verdhana Sekuritas Indonesia

Home   /   Latest Research
  • Indonesia FMCG - 4Q24 results review and 2M25 run rate estimate

    SH JW SC

    Overall, FMCG firms’ 4Q24 earnings were mostly in line with market expectations.

    GENERAL CONSUMER Sandy Ham Jody Wijaya Samuel Christian

    4 months ago
  • Indofood CBP Sukses Makmur (ICBP IJ) (Buy) - Resilient performance

    SH JW SC

    The company recorded +4% y-y Indonesia sales growth in 4Q24,

    FOOD AND BEVERAGE ICBP ICBPJK ICBP IJ Sandy Ham Jody Wijaya Samuel Christian

    5 months ago
  • Sariguna Primatirta (CLEO IJ) (Buy) - Excellent performance continues

    SH JW SC

    CLEO booked strong 4Q24 sales growth of 23% y-y,

    FOOD AND BEVERAGE CLEO CLEO JK CLEO IJ Sandy Ham Jody Wijaya Samuel Christian

    5 months ago
  • Midi Utama Indonesia (MIDI IJ) (Buy) - Recovery in motion

    JW SH SC

    MIDI’s top line expanded by 15% y-y, driven by strong performance ex-Java (+23% y-y).

    RETAIL MIDI MIDI JK MIDI IJ Jody Wijaya Sandy Ham Samuel Christian

    5 months ago
  • Sumber Alfaria Trijaya (AMRT IJ) (Buy) - Resetting expectations

    JW SH SC

    AMRT’s sales growth in 2024 remained solid at +10% y-y,

    CONSUMER RELATED AMRT AMRT JK AMRT IJ Jody Wijaya Sandy Ham Samuel Christian

    5 months ago
  • Kalbe Farma (KLBF IJ) (Buy) - Repositioning, revamping, and reallocating

    SH JW SC

    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

    5 months ago
  • Indonesia FMCG - Five weaknesses of Chinese FMCG companies in Indonesia

    SH JW SC

    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

    5 months ago
  • Indonesia Retailers - Cultural exports as a form of influence

    JW SH SC

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

    GENERAL CONSUMER Jody Wijaya Sandy Ham Samuel Christian

    5 months ago
  • Indonesia Consumer - Indonesia grocery's growth engine

    SH JW SC

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

    GENERAL CONSUMER Sandy Ham Jody Wijaya Samuel Christian

    5 months ago
  • Ultrajaya Milk Industry & Trading (ULTJ IJ) (Buy) - ULTJ defends its market leadership in UHT milk

    SH JW SC

    ULTJ recorded high A&P-to-sales ratios of 9.2%/15.9%

    FOOD AND BEVERAGE ULTJ ULTJ JK ULTJ IJ Sandy Ham Jody Wijaya Samuel Christian

    5 months ago
  • Indonesia Retail - Mini-market retailers’ SSSG remains strong

    JW SH SC

    Based on our conversations with investors, many are concerned about the overall Indonesia consumer demand outl

    RETAIL Jody Wijaya Sandy Ham Samuel Christian

    5 months ago
  • Cisarua Mountain Dairy (CMRY IJ) (Buy) - A standout in consistency and growth

    SH JW SC

    CMRY booked a +25% NPAT CAGR over the 2021-2024 period,

    GENERAL CONSUMER Sandy Ham Jody Wijaya Samuel Christian

    5 months ago
  • Mayora Indah (MYOR IJ) (Buy) - All-time high sales + market share

    SH JW SC

    We believe the middle-income class continues to prefer value-for-money FMCG products,

    CONSUMER RELATED Sandy Ham Jody Wijaya Samuel Christian

    5 months ago
  • Indofood CBP Sukses Makmur (ICBP IJ) (Buy) - Consistent double-digit core profit growth

    SH JW SC

    We believe the government’s commitment to alleviate

    FOOD AND BEVERAGE ICBP ICBP JK ICBP IJ Sandy Ham Jody Wijaya Samuel Christian

    6 months ago
  • Mulia Boga Raya (KEJU IJ) (Neutral) - Significant earnings estimate hike

    SH JW SC

    We raise our FY24F and FY25F earnings by 22% and 15%, respectively,

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

    6 months ago

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