TLKM – Strengthening Data Center Business
TLKM posted -0.7% YoY top-line decline in 1Q21, as revenues from non data segment softened. However, revenue from
INDF – Strong Performance from All Segments
INDF closed 1Q21 with an exciting performance, supported by all business segments and margin expansion. Going forward,
CTRA – VAT Subsidy Boosts Marketing Sales
CTRA successfully booked stellar performance in 1Q21. Amid the pandemic, revenue and profit grew significantly by 22.6%
ICBP – Still Attractive Despite Higher Financing Costs
Despite higher interest expenses assumption, we expect ICBP to deliver strong earnings CAGR of 15.9% over FY19-22E with
TOWR – Opportunity for More Aggressive Expansion
In 1Q21, TOWR recorded revenue growth (+7.5% YoY) and net profit (52.1% YoY) on the back of tower rental income from
PWON – Recovery Hampered by Emergency PPKM
PWON’s revenue in 1Q21 fell 32.4% YoY. Meanwhile, net profit jumped 254.5% YoY due to lower foreign exchange loss.
ERAA – Maintaining Growth Momentum
ERAA closed 1Q21 with an exceptional performance, maintaining the company’s momentum from last year. The double-digit
ISAT – Efficiency Measures and Tower Sales Boost Performance
Realisation of ISAT’s efficiency increase can be seen at the beginning of Q1-2021. Lower employee expenses, followed by
SIDO – Growth Remains Intact
Going into 2021, we still prefer SIDO simply because it has a better margin among its peers, a healthy balance sheet,
