SMGR – Increasing Margin, Profit Higher Than Expected
SMGR booked an income of IDR9.59 trillion (-18.5% YoY, +28.9% QoQ). GPM, OPM, and NPM reached record numbers in 3Q20, as
BBNI – Credit Growth with Declining Cost of Fund
BBNI’s net interest income (NII) was stagnant at IDR 26.6 trillion in 3Q20, compared to 3Q19. This resulted in net
TLKM – Solid Surge in Indihome Contribution
TLKM booked 1.3% QoQ increase in quarterly income. The income growth cannot be separated from the solid Indihome
KLBF – Prepping Up for Softer Growth
KLBF reported top line below our expectation, mainly due to a relatively slower pace growth in some segments. With the
INCO – Nickel Price Boosts Performance
Amid the global pandemic, INCO managed to record a net profit of USD24 million in 3Q20, -2.7% QoQ or -10.7% YoY. This
UNVR – Margin Improvement Amid Lower Topline
Despite booking soft revenue numbers, UNVR succeeded to record margin improvement in 3Q20. When looking into 3Q20
PTPP – Relying on Divestment Realization
PTPP’s performance in 3Q20 was under below expectations. PTPP recorded an income of IDR3.27 trillion (-38.7% YoY, -2%
TOWR – Promising Long Term Contracts
TOWR booked continuous positive performance in Q3/2020. The company’s income came from an increase in tower tenancy
BMRI – High Liquidity for Lower Cost of Funds
BMRI booked a net income of IDR14 trillion in 9M20 or 82% of our FY20E estimate. High liquidity with 84.4% LDR, but with
