Chandra Asri Pacific (TPIA IJ) (Non-rated) - Strategic turnaround: Aster payoff well on elevated refining margin
MW NSCOMMODITY Chandra Asri Pacific TPIA TPIA JK TPIA IJ Michael Wildon Nizam Syafik
AMMN operates one of the world's most strategic...
METALS AND MINING Amman Mineral Internasional AMMN AMMN JK AMMN IJ Michael Wildon Nizam Syafik
Indonesia is revising PP 19/2025 to increase mining...
METALS AND MINING Indonesia Commodity Michael Wildon Ng Nizam Syafik
1Q26 revenue of USD95mn (+1% q-q, +37% y-y) came in...
OIL AND GAS CHEMICALS ASIA Surya Esa Perkasa ESSA ESSA JK ESSA IJ Michael Wildon Ng Nizam Syafik
1Q26 revenue of USD1,044mn (-20% q-q, -10% y-y) accounted for...
COAL Adaro Andalan Indonesia AADI AADI JK AADI IJ Michael Wildon Ng Nizam Syafik
ANTM announced its 1Q26 results that were well above...
METALS AND MINING Aneka Tambang ANTM ANTM JK ANTM IJ Michael Wildon Ng Nizam Syafik
Overall results were in line with consensus and ahead of...
Commodity Energy Mega Persada ENRG ENRG JK ENRG IJ Michael Wildon NG Nizam Syafik
FY25 revenue was flat y-y at 101%/104% of our...
OIL GAS CHEMICALS ASIA Medco Energi Internasional MEDC MEDC JK MEDC IJ Michael WIldon Ng Nizam Syafik
ENRG delivered solid exploration and production results...
COMMODITY Energi Mega Persada ENRG ENRG JK ENRG IJ Michael Wildon Nizam Syafik
The construction of EMAS’ heap-leach operation...
METALS AND MINING Merdeka Gold Resources EMAS EMAS JK EMAS IJ Michael Wildon Ng Nizam M Syafik
As of late January 2026, Newcastle coal price...
The MSCI Indonesia Index has declined by 20% since September 2024...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo Sandy Ham Jody Wijaya Michael Wildon Erwin Wijaya Samuel Christian David Tjahjadi Felix Justin Nayla Yasmin
Despite the decline in gold and nickel ore volumes, ANTM’s overall...
METALS AND MINING Aneka Tambang ANTM JK ANTM IJ Michael Wildon
NCKL’s 3Q25 revenue and earnings came in...
METALS AND MINING Trimegah Bangun Persada NCKL NCKL JK NCKL IJ Michael Wildon
Indonesia’s ceramic industry is showing...
CONSTRUCTION MATERIALS Arwana Citramulia ARNA ARNA JK ARNA IJ Gerald Hugo Felix Justin Michael Wildon