Bank Rakyat Indonesia (BBRI IJ) (Buy) - Earnings accretive from PNM spin-off
EWThe Indonesian government, through the Ministry of Finance (MoF), has planned to...
BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya
The Indonesian government, through the Ministry of Finance (MoF), has planned to...
BANKS Bank Rakyat Indonesia BBRI BBRI JK BBRI IJ Erwin Wijaya
TBIG delivered a steady FY25 with revenue of...
TELECOMS Tower Bersama Infrastructure TBIG TBIG JK TBIG IJ Erwin Wijaya
We maintain AVIA as our preferred name in the...
CHEMICALS Avia Avian AVIA AVIA JK AVIA IJ Gerald Hugo Felix Justin Jupriadi Tan
Retailers delivered mediocre same-store sales growth (SSSG) in 4Q25...
RETAIL Indonesia Retailers Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian
MAPA delivered very strong earnings growth in 4Q25...
RETAIL Map Aktif Adiperkasa MAPA MAPA JK MAPA IJ Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian
MAPI delivered strong 4Q25 earnings growth...
RETAIL Mitra Adiperkasa MAPI MAPI JK MAPI IJ Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian
ERAA delivered strong earnings growth in 4Q25...
RETAIL Erajaya Swasembada ERAA ERAA JK ERAA IJ Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian
Blue Bird posted FY25 revenue of IDR5,705bn (+13% y-y)...
TRANSPORT OR LOGISTICS Blue Bird BIRD BIRD JK BIRD IJ Jupriadi Tan David Tjahjadi Gerald Hugo
TOWR posted FY25 revenues of IDR13.3tn (+4.6% y-y; 103% of our forecast)...
TELECOMS Sarana Menara Nusantara TOWR TOWR JK TOWR IJ Erwin Wijaya
Selamat Sempurna (SMSM) posted FY25 revenue of IDR5,339bn (+3.4% y-y)...
AUTOS AND AUTO PARTS Selamat Sempurna SMSM SMSM JK SMSM IJ Jupriadi Tan David Tjahjadi Gerald Hugo
Indonesia’s major banks — BBCA IJ, BRIS IJ, BMRI IJ, BBNI IJ and BBRI IJ...
AMRT delivered strong earnings growth in 4Q25...
CONSUMER RELATED Sumber Alfaria Trijaya AMRT AMRT JK AMRT IJ Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian
The Indonesia IT services sector continued to...
TECHNOLOGY Indonesia IT Services Jupriadi Tan David Tjahjadi
We frame this report as a tactical...
EQUITY STRATEGY Jupriadi Tan Gerald Hugo David Tjahjadi Felix Justin
MIDI delivered strong earnings growth in 4Q25...
RETAIL Midi Utama Indonesia MIDI MIDI JK MIDI IJ Jody Wijaya Sandy Ham Nayla Yasmin Samuel Christian