Arwana Citramulia (ARNA IJ) (Buy) - Robust sales recovery, though margin lags
GH FJ MWIndonesia’s ceramic industry is showing...
CONSTRUCTION MATERIALS Arwana Citramulia ARNA ARNA JK ARNA IJ Gerald Hugo Felix Justin Michael Wildon
Indonesia’s ceramic industry is showing...
CONSTRUCTION MATERIALS Arwana Citramulia ARNA ARNA JK ARNA IJ Gerald Hugo Felix Justin Michael Wildon
In this note we provide a detailed breakdown of each of UNTR’s segments...
ENGINEERING AND CONSTRUCTION United Tractors UNTR UNTR JK UNTR IJ Michael Wildon Ng
UNTR booked 1Q25 earnings of IDR3.2tn...
ENGINEERING AND CONSTRUCTION UNTR UNTR JK UNTR IJ Michael Wildon Edward Prima
ARNA delivered 4Q24 revenue of IDR710bn (+1.4% q-q, +17.3% y-y), bringing FY24 revenue to IDR2.63tn (+8% y-y).
CONSTRUCTION MATERIALS ARNA ARNA JK ARNA IJ Michael Wildon Ng Edward Prima
On 6 December, we were invited to visit Arwana Citramulia’s Plant 2 in West Java to observe and learn about AR
As of Oct-24, the government introduced several regulations that will benefit the local ceramic industry,
Construction Materials ARNA ARNA JK ARNA IJ Michael Wildon Edward Prima Gerald Hugo
The ceramic industry is currently benefiting from three significant tailwinds, in our view.
Construction Materials ARNA ARNA JK ARNA IJ Michael Wildon Edward Prima Gerald Hugo
Jasa Marga (JSMR) is a state-owned enterprise (SOE) holding company involved in the toll road business
Infra Engineering Construction JSMR JK JSMR IJ Jupriadi Tan Gerald Hugo