BEWARE OF FRAUDULENT SCHEMES CLAIMING TO REPRESENT PT VERDHANA SEKURITAS INDONESIA

• Please be cautious of any fraudulent schemes conducted by parties claiming to represent PT Verdhana Sekuritas Indonesia. These scams often use the name, logo, and identity of PT Verdhana Sekuritas Indonesia to pose as official company representatives.
  
• Identified scam methods include investment fraud, job offers, task assignments, or other programs that appear to offer monetary rewards or commissions. Please remain vigilant against other forms of fraud as well.
  
• These scams may be carried out through various media channels, including:
  1. Fake websites;
  2. Messaging apps such as WhatsApp, Telegram, SMS, etc.;
  3. Fake emails and letters;
  4. Fraudulent phone calls. 
• PT Verdhana Sekuritas Indonesia operates solely as a Securities Broker-Dealer and Underwriter. We are not an investment manager or an institution that offers investment programs, job offers, commission-based tasks, or other financial schemes directly to the public via social media, private messages, phone calls, or unofficial individual agents. We do not appoint any individual or third party to collect funds from the public. 
• We never request the public, prospective clients, or our clients to (1) conduct cash transactions or (2) transfer funds to any personal account of individuals claiming to be employees or representatives of PT Verdhana Sekuritas Indonesia.
  
• Official information from PT Verdhana Sekuritas Indonesia is communicated only through our official channels:
  Website: www.verdhana.id and www.verdhanaresearch.com 
  Email: info@verdhana.id
  Phone: (021) 5098 5799
  Address: Deutsche Bank Building, 18th Floor, Jl. Imam Bonjol No. 80, Jakarta 10310 
• If you receive any suspicious messages, offers, or solicitations conducted by parties claiming to represent PT Verdhana Sekuritas Indonesia, please do not respond and report them immediately to us via email at info@verdhana.id.

This announcement is hereby conveyed. Thank you for your attention and for placing your trust in PT Verdhana Sekuritas Indonesia.
Sincerely,

PT Verdhana Sekuritas Indonesia

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• Bank BTPN Syariah (BTPS IJ) (Neutral) - FY24 results below expectations

  EW

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• Bank Rakyat Indonesia (BBRI IJ) (Buy) - Slow growth outlook

  EW

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• Bank Rakyat Indonesia (BBRI IJ) (Buy) - FY24 profit flat y-y, as expected

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• Bank Syariah Indonesia (BRIS IJ) (Buy) - Solid FY24 results

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  BRIS continued to deliver solid 4Q24 results with headline profit of IDR1.9tr (+11% q-q / +26% y-y),

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• XL Axiata (EXCL IJ) (Buy) - EXCL – Post FY24 results update

  EW

  XL released its FY24 results which showed punchy performance.

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• Bank Mandiri (BMRI IJ) (Buy) - Unexciting (in-line) FY24 results

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• Bank Negara Indonesia (BBNI IJ) (Buy) - FY24 earnings review, TP adjustment

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