Indonesia Equity Strategy - How do stocks fare on potential 2026F TSR?
JT GHFollowing our previous research on TSR, in this report we analyze...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
Following our previous research on TSR, in this report we analyze...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
Interest rates have been trending lower over the past few years,
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo
We estimate AKRA’s 2025F earnings will expand structurally from...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We revise up AUTO’s earnings by 7%/10%/8% for FY25F/Fy6F27F.
AUTOS AND AUTO PARTS Astra Otoparts AUTO AUTO JK AUTO IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We increase our 2025/26F earnings estimates by...
TRANSPORT AND LOGISTICS Adi Sarana Armada ASSA ASSA JK ASSA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We review 3Q25 results across our coverage in the property, industrial estate...
PROPERTY Property And Building Materials Gerald Hugo Felix Justin
Indonesia’s ceramic industry is showing...
CONSTRUCTION MATERIALS Arwana Citramulia ARNA ARNA JK ARNA IJ Gerald Hugo Felix Justin Michael Wildon
Amid persistent weak consumption, we view...
CHEMICALS Avia Avian AVIA AVIA JK AVIA IJ Gerald Hugo Felix Justin Jupriadi Tan
AUTO delivered its strongest quarter to date, recording a record...
AUTOS AND AUTO PARTS Astra Otoparts AUTO AUTO JK AUTO IJ Jupriadi Tan David Tjahjadi Gerald Hugo
AKRA reported stable 3Q25 results with NPAT of...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
Major developers (Ciputra Development [CTRA IJ, Buy]...
PROPERTY Indonesia Property Gerald Hugo Felix Justin Jupriadi Tan
ASSA booked another record quarter, with 3Q25...
TRANSPORT LOGISTICS Adi Sarana Armada ASSA ASSA JK ASSA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We project BIRD’s revenue to record a CAGR of...
TRANSPORT LOGISTICS Blue Bird BIRD BIRD JK BIRD IJ Jupriadi Tan David Tjahjadi Gerald Hugo
In the months since his appointment, Minister Purbaya has...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi Felix Justin
We are positive on the Indonesia property sector, underpinned by a...
PROPERTY Indonesia Property Gerald Hugo Felix Justin Jupriadi Tan