Indonesia equity strategy - Corporate health check: Slowest growth of wallet size in a decade
JT GH FJWe have compiled the 1Q26 results across 250...
EQUITY STRATEGY Indonesia equity strategy Jupriadi Tan Gerald Hugo Felix Justin
We have compiled the 1Q26 results across 250...
EQUITY STRATEGY Indonesia equity strategy Jupriadi Tan Gerald Hugo Felix Justin
As discussed in our previous analysis on TSR, we think that Astra
AUTOS AND AUTO PARTS Astra International ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi
Year-to-date April institutional equity flows confirm...
EQUITY STRATEGY Indonesia Flow Radar Jupriadi Tan Gerald Hugo
ASSA booked 1Q26 revenue of IDR1.5tn (+11% y-y, -2.3% q-q)..
TRANSPORT OR LOGISTICS Adi Sarana Armada ASSA ASSA JK ASSA IJ Jupriadi Tan David Tjahjadi
DRMA posted 1Q26 revenue of IDR 1,547bn (+5.9% y-y, flat q-q)...
AUTOS AND AUTO PARTS Dharma Polimetal DRMA DRMA JK DRMA IJ Jupriadi Tan David Tjahjadi
Our stress test assumes that the government can hold the line...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
The parliament's proposal to curb the ~IDR361trn annual tax refund pool...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
We maintain AVIA as our preferred name in the...
CHEMICALS Avia Avian AVIA AVIA JK AVIA IJ Gerald Hugo Felix Justin Jupriadi Tan
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
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
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
February 2026 4W data confirmed a firm industry recovery...
AUTOS AND AUTO PARTS Indonesia Autos Jupriadi Tan David Tjahjadi
We believe AKRA remains structurally well...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi
Geopolitical tensions are escalating, and energy markets are...