Consumer: Festive events in 1H24 and higher social aid to cushion soft recovery in FY24 (OVERWEIGHT)
We expect more provision for social aid and the festive events in 1H24 to cushion soft purchasing power recovery amid modest wage hikes.
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Kalbe Farma (KLBF IJ) - Persisting Headwind in FY24 from Shifting Industry Trend
Against this headwind, we project a lower FY24F earnings growth of 2.9% yoy (21-27% cut in FY23-25F est.) and cut our rating to HOLD with a lower...
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Kalbe Farma (KLBF IJ) - Better Outlook Amid Potential 4Q23 Improved Margin
KLBF foresees better margins in 4Q23 and 2024, supported by the nutritional division (4Q23) and a favorable product mix (2024).
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The Week That Was in ASEAN@Smartkarma - Sea Ltd & TikTok, Prodia, and Matahari Department Store
The past week saw insights on Sea Ltd, Prodia, Kalbe Farma, Matahari Department Store, Mitra Keluarga, Delta Electronics Thailand and Pakuwon Jati,...
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Kalbe Farma (KLBF IJ) - Back to The Future
Kalbe Farma (KLBF IJ) is one of the key proxies for increasing healthcare penetration and health consciousness in Indonesia through prescription...
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