Retail: 2Q24 Preview: ACES and MIDI Shine, MAPA/MAPI May Face Challenges (OVERWEIGHT)
ACES and MIDI reported solid 2Q24 SSSG, which leads us to expect robust core profit growth of +23% and +21% yoy, respectively.
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The Week That Was in ASEAN@Smartkarma - Grab's Lead, Bank Rakyat Indonesia, and CLEO's Pure Water
The past week saw insights on Grab Holdings (GRAB US), Bank Rakyat Indonesia (BBRI IJ), Sariguna Primatirta (CLEO IJ), PT Metrodata Electronics...
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Erajaya Swasembada (ERAA IJ) - Less New Stores with Higher Volumes
Erajaya will slow its store buildout this year as it focuses on productivity ny it is still expected to add 200 new stores in Indonesia. Valuation...
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Retail : May24 Channel Check
ACES is continuing its thematic and cashback promotions which will sustain SSSG at the mid-single digit level. Maintain Overweight
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Retail Sector: Potential Boost from Ied Festives and Promotions (OVERWEIGHT)
We noted more foot traffic to retail/shopping areas toward the end of Mar24, likely supported by the disbursement of the holiday allowance.
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