External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Cross Asset Strategy

<ul>
<li>Aneka Tambang: Strong start to the year (ANTM.IJ IDR 2,110 BUY.TP IDR 3,500)</li>
<li>ANTM has announced solid operational performance in January 2023.</li>
<li>Nickel ore sales volume jumped 80% yoy in January to 1 mn tons. </li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Aneka Tambang: Strong start to the year (ANTM.IJ IDR 2,110 BUY.TP IDR 3,500)
ANTM has announced solid operational performance in January 2023.
Nickel ore sales volume jumped 80% yoy in January to 1 mn tons. 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul>
<li>Condo and HDB rents gained momentum in 2021, but supply will rise in 2022 and 2023</li>
<li>Singapore’s flexible office space ranks 3rd most expensive globally</li>
<li>
<a href="https://www.smartkarma.com/entities/astra-international-tbk-pt" target="_blank" data-smartkarma-citation="entities:46" rel="noopener">Astra International (ASII IJ)</a> and <a href="https://www.smartkarma.com/entities/hongkong-land-holdings-ltd" target="_blank" data-smartkarma-citation="entities:15465" rel="noopener">Hongkong Land (HKL SP)</a> to form warehousing JV with LOGOS SE Asia</li>
</ul>


Condo and HDB rents gained momentum in 2021, but supply will rise in 2022 and 2023
Singapore’s flexible office space ranks 3rd most expensive globally

Astra International (ASII IJ) and Hongkong Land (HKL SP) to form warehousing JV with LOGOS SE Asia


ASEAN Builder's Scoop (29Mar22) - SG Flexible Office Ranks 3rd Most Pricey

<ul><li><a href="https://www.smartkarma.com/entities/manulife-us-reit" target="_blank" data-smartkarma-citation="entities:567" rel="noopener">Manulife US REIT (MUST) (MUST SP)</a> 2H21 DPU +1.5% YoY; 4Q21 -7.1% reversions a concern, further M&amp;As may hinge on fundraising efforts</li><li><a href="https://www.smartkarma.com/entities/ascendas-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:39" rel="noopener">Ascendas Real Estate Investment Trust (AREIT SP)</a> 2H21 DPU +2.4% YoY; Improved occupancy while reversions remain relatively robust</li><li><a href="https://www.smartkarma.com/entities/yanlord-land-group-ltd" target="_blank" data-smartkarma-citation="entities:14152" rel="noopener">Yanlord Land (YLLG SP)</a> Jan22 contracted pre-sales rose 87.7% YoY</li></ul>

Manulife US REIT (MUST) (MUST SP) 2H21 DPU +1.5% YoY; 4Q21 -7.1% reversions a concern, further M&amp;As may hinge on fundraising effortsAscendas Real Estate Investment Trust (AREIT SP) 2H21 DPU +2.4% YoY; Improved occupancy while reversions remain relatively robustYanlord Land (YLLG SP) Jan22 contracted pre-sales rose 87.7% YoY

ASEAN Builder's Scoop (9Feb22) - MUST Weak 4Q21 Reversions a Concern

Indonesia

PT Astra International Tbk assembles and distributes automobiles, motorcycles, and their related spare parts.  Through its subsidiaries, the Company also operates in the mining, development of plantations, financial and information technology.

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Astra International (ASII IJ)

Equity Snapshot: April 12, 2023

Aneka Tambang: Strong start to the year (ANTM.IJ IDR 2,110 BUY.TP IDR 3,500). ANTM has announced solid operational performance in January 2023.

BRI Danareksa Research

ASEAN Builder's Scoop (29Mar22) - SG Flexible Office Ranks 3rd Most Pricey

Astra Land Indo/LOGOS forms Indo warehousing JV; Thai resi oversupply risk with record launches; Phils office demand to grow

SCCM Asia Research

ASEAN Builder's Scoop (9Feb22) - MUST Weak 4Q21 Reversions a Concern

MUST weak 4Q21 reversions a concern; AREIT improved occupancy and steady reversions; SG may levy prop-related wealth tax; ASII/HKL/Logos Indo...

SCCM Asia Research

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