Company Report
29 October 2026
ANTM’s 9M26 results were in line, with revenue of IDR 88.48 tn (+22.8% YoY, 74.3% of ou...
Company Report
29 October 2026
BBCA continued to deliver resilient earnings in 9M26, with profit growth gaining moment...
7 August 2020
We already expected KINO to record weak performance in 2Q20 as the consequences of lower demand amid the pandemic. This also affected export sales, which dropped significantly due to lockdown restriction in several export destination. At this stage, we still maintain a Hold recommendation.
30 July 2020
JSMR recorded income decline of 45.3% YoY pressured by fall in construction revenue in 1Q20 as much as 71.8% YoY. However, the company’s bottom line is still stable as reflected in the cost of revenue that was successfully down by 57.1% in the first quarter of 2020. Moreover, the company is currently issuing continuous bonds with a total of IDR3 trillion to strengthen liquidity amid the pandemic.
29 July 2020
In the midst of unfavourable situation, INDF recorded a low single digit growth in 1Q20. This growth was mainly supported by Consumer Branded Product (CBP) and Distribution segment. This was an opposite to Bogasari and Agribusiness segment which recorded contraction, pressured by lower commodity prices. Nevertheless, at this point, we expect better growth shall be recorded as Consumer Confidence Index (CCI) was higher and Rupiah stays stable.
29 July 2020
ANTM recorded a modest performance with a net loss of IDR282 billion due to a decrease in revenue of up to 16.7% YoY. We revised ANTM's estimated performance in 2020F assuming a gold sales volume of 19,888 kg and ferronickel sales volume of 26,588 TNi for 2020F plus gold ASP of IDR991 million/kg and ASP ferronickel of IDR165 million/TNi for 2020F. We still recommend BUY with TP of IDR850.
23 July 2020
In 1Q20, the Data, Internet, and IT Services grew 7.2% YoY. However, the company’s income and net profit dropped as the SMS, Fixed and Cellular Voice segment fell by 21.4% YoY. The 1Q20 performance still achieved our expectations with income estimation of FY20 amounting to IDR138.7 trillion (composing 24.7% of our estimation).
