PT Global Digital Trade (BliBli) Pre-IPO - The Negatives - Online, Offline or Travelling to Nowhere?
PT Global Digital Trade (BliBli) aims to raise up to US$530m in its Indonesian IPO. In this note, we talk about the not so positive aspects of the...
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PT Global Digital Trade (BliBli) Pre-IPO - The Positives - Wide Offering, Strong COVID Bounce Back
BliBli aims to raise up to US$530m in its Indonesian IPO, the company provides ecommerce and travel services in Indonesia. In this note, we talk...
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Bank Rakyat Indonesia (BBRI IJ) - Solid MSME Dominator with a Digital Edge
Bank Rakyat continues to increasingly utilise digital channels utilise digital channels to expand its network and reduce costs. Valuations remain...
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Bank Negara Indonesia (BBNI IJ) - More Than Meets the Eye
Bank Negara Indonesia (BBNI IJ) remains the laggard amongst the top four Indonesian banks but we see this as unjustified given improving returns...
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Bank Mandiri (BMRI IJ) - Livin' It Up
Bank Mandiri (BMRI IJ) has seen its ROE increase to 18% and it trades on 2.0x FY2022 PBV, which continues to look reasonable given improving returns.
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