Selamat Sempurna (SMSM IJ) (Buy) - Solid growth track record
JT DT GHSelamat 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
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...
We concluded AKRA’s NDR to Singapore and Kuala Lumpur...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi
Indonesia’s Agreement on Reciprocal Trade with...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
The recent MSCI-related volatility, which saw...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
We initiate coverage of MDLA with a Buy...
HEALTH CARE AND PHARMACEUTICALS Medela Potentia MDLA MDLA JK MDLA IJ Jupriadi Tan David Tjahjadi
In Indonesia, four-wheeler (4W) demand is structurally
AUTOS AND AUTO PARTS Indonesia autos Jupriadi Tan David Tjahjadi Gerald Hugo
AKRA continues to position itself as a structurally defensive...
POWER AND UTILITIES AKR Corporindo AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We view the Nutritious Meal Program as an increasingly...
EQUITY STRATEGY Indonesia equity strategy Jupriadi Tan Gerald Hugo
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
Following our previous research on TSR, in this report we analyze...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo