Indonesia Equity Strategy - 2Q25 corporate health check
JT GH DT FJWe have compiled data from 260 companies in the JCI...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi Felix Justin
We have compiled data from 260 companies in the JCI...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi Felix Justin
In this note, we assess the preconditions for a four-wheeler (4W) sales recovery to...
AUTOS AUTO PARTS Indonesia Auto Jupriadi Tan David Tjahjadi Gerald Hugo
SRTG continues to trade at a steep discount to NAV of ~55%, near its...
CONGLOMERATES Saratoga Investama Sedaya SRTG SRTG JK SRTG IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We hosted Verdhana Connect – Indonesia Macro and Banks Day on 13-14 August 2025,...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo Erwin Wijaya
In this report, we dissect Astra’s (ASII IJ, Buy) holdings (specifically the top 9 companies under it)...
AUTOS AUTO PARTS Astra International ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi Gerald Hugo
MTDL delivered another strong and consistent set of results for 1H25...
SOFTWARE AND SERVICES MTDL MTDL JK MTDL IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We estimate ASSA will book 1H25F NPAT of IDR190bn (+48% y-y)...
TRANSPORT LOGISTICS ASSA ASSA JK ASSA ID Jupriadi Tan David Tjahjadi Gerald Hugo
This report introduces Total Shareholder Return (TSR)...
EQUITY STRATEGY Indonesia Equity Strategy Jupriadi Tan Gerald Hugo David Tjahjadi Felix Justin
We expect the listed autos companies under our coverage to post...
AUTOS AND AUTO PARTS Indonesia Autos Jupriadi Tan David Tjahjadi Gerald Hugo
Saratoga Investama Sedaya (SRTG) trades at a steep 56% discount to NAV...
CONGLOMERATES SRTG SRTG JK SRTG IJ Jupriadi Tan David Tjahjadi Gerald Hugo
Our proprietary Verdhana Macro-Micro Index...
We view AUTO primarily as a trading business...
AUTOS AUTO PARTS AUTO AUTO JK AUTO IJ Jupriadi Tan David Tjahjadi Gerald Hugo
We believe that the recovery in the Indonesia equity market may still...
EQUITY STRATEGY Jupriadi Tan Gerald Hugo Felix Justin David Tjahjadi
Indonesia recorded a slight current account deficit of USD0.2bn (0.05% of GDP) in 1Q25...
Our proprietary Verdhana Macro-Micro Index indicated a notable acceleration in consumer transactions in 1Q25..