KLBF – Remains Optimistic Despite Headwinds
KLBF 2Q20 earnings exceeded our expectations, with the modest growth in distribution and consumer health segment, but
SMGR – Must Take Advantage of Economic Recovery
SMGR performance in 1H20 resulted in bottom line increase of 26.6% YoY, although the 2Q20 sales and profit both dropped
GGRM – Bumpy Road Ahead for Tobacco Players
GGRM showed its ability to endure the tough quarter, even though the outlook is a bit more muted than last year. Our new
LSIP – Still Positive but Below Expectation
LSIP posted 1H20 net profit of IDR92 billion or jumped 778% YoY, contributing to 32% of our 2020F revised target but
BBCA – Provision as Key Performance Driver
BBCA recorded a decrease in net income to IDR12.2 trillion in 1H20 from the previous IDR12.8 trillion in 1H19. As an
TBIG – Focused on Organic Growth, 1H20 Performance Satisfactory
Along with the high contribution of tower leases from Telkomsel and Indosat of 39.8% and 21.4%, TBIG was able to record
AALI – Solid Performance but Below Expectation
AALI reported 1H20 net profit of IDR391 billion or jumped 769% YoY, contributing to 72% of our 2020F target. ASP
KINO – Slow Revenue Growth amid Weak Consumption
We already expected KINO to record weak performance in 2Q20 as the consequences of lower demand amid the pandemic. This
JSMR – Commitment to Maintain Liquidity
JSMR recorded income decline of 45.3% YoY pressured by fall in construction revenue in 1Q20 as much as 71.8% YoY.
