United Tractors (UNTR IJ) (Neutral) - Kitchen sinking with tail risk
MW NS1H26 revenue came in at IDR58tn (-15% y-y)...
ENGINEERING AND CONSTRUCTION United Tractors UNTR UNTR JK UNTR IJ Michael Wildon Ng Nizam Syafik
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Arwana Citramulia (ARNA IJ) (Buy) - Back on track
GH FJARNA posted record quarterly revenue and NPAT in 2Q26...
CONSTRUCTION MATERIALS Arwana Citramulia ARNA ARNA JK ARNA IJ Gerald hugo Felix Justin
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AKR Corporindo (AKRA IJ) (Buy) - A proven track record of shareholder value creation
JT DT GHAKR Corporindo (AKRA) has demonstrated...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
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AKR Corporindo (AKRA IJ) (Buy) - Strong business moat
We believe AKRA remains structurally well...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi
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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
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AKR Corporindo (AKRA IJ) (Buy) - Growth despite challenges
JT DT GHAKRA reported stable 3Q25 results with NPAT of...
POWER AND UTILITIES AKR Corporindo AKRA AKRA JK AKRA IJ Jupriadi Tan David Tjahjadi Gerald Hugo
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United Tractors (UNTR IJ) (Buy) - Unpacking UNTR’s assets
MWIn 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