The threat of Covid-19 has forced people to do their shopping online rather than in shopping centres. We believe that this is a huge opportunity for MAPI to increase online sales. Moreover, we view that MAPI’s management has a clear strategy to minimize the impact of Covid-19 to its performance. Coupled this with Jakarta government decision to reopen shopping malls on June 15th, it can boost the retail sector. NHKSI recommends MAPI as a stock pick this week with an end of year TP of IDR 820/share based on a 11.1 trailing P/E Band.

Weekly’s Top Stock Pick : MAPI
Support : 675
Resistance : 845

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