AALI – Higher ASP Boosts Performance
AALI’s top line grew by 7.8% during pandemic and reached over IDR18.8 trillion, resulting in bottom line of IDR833
ITMG – Modest Performance in 2021
ITMG’s top line fell by 30.9% throughout 2020, resulting in bottom line of USD39 million, or declining significantly by
BBCA – Solid Performance Throughout Pandemic Year
BBCA still managed to book a solid performance amid the pandemic, marked by an increase in PPOP by 11.2% YoY. Net income
EXCL – Expect Solid Performance in 2021
EXCL’s revenue grew 3.5% throughout 2020. However, the jump in depreciation and financial expenses resulted in EXCL’s
SIDO – Satisfactory 4Q20 Result
SIDO is our top pick in the healthcare sector given its resilience performance amid the unfavorable economic condition,
UNVR – Limited Room to Grow
Our rating is on the back of an expected pressure on F&R and HPC segment to do quick turnaround amid uncertain
BBNI – Amid Low Credit Growth and Cost of Funds
BBNI's profit fell by -78.7% to IDR 3.28 trillion in 2020. Loan Loss Provisions rose sharply to IDR 22.59 Trillion (vs
PGAS – Top & Bottom Line Recovers in 3Q20
Performance recovery in 3Q20 allowed revenue to grow 14.5% QoQ to USD61.9 million. Gas distribution led the increase
INDF – Solid Growth Outlook
INDF experienced relatively modest performance of sales and net foreign exchange loss during the quarter. Nonetheless,
