Gudang Garam - A Still Challenging Outlook Limits Re-Rating Potential
GGRM’s 6-8% price adjustment YTD may support FY24F margins, but we expect volume may continue to be under pressure. We trim our FY24-25F NP by 42-47%
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LQ45 Index Rebalance Preview (July): Identifying Potential Index Changes
We have identified 5 potential changes for the LQ45 Index in July. There will also be capping flows for BBCA and BBRI. Historically, adds and...
346 Views
Nusantara Sejahtera Raya (Cinema XXI) IPO - The Negatives - Private Placement, Not a Primary Raising
Cinema XXI (CINEMA IJ) aims to raise up to US$160m in its Indonesia IPO. In this note, we talk about the not-so-positive aspects of the deal.
402 Views
The Week That Was in ASEAN@Smartkarma - Indosat's AI, MAPI's Expansion, and BliBli's Omnichannel
The past week saw insight on Indosat (ISAT IJ), Mitra Adiperkasa (MAPI IJ), Global Digital Niaga Tbk PT (BELI IJ), Singapore Post (SPOST SP), and...
255 Views
The Week That Was in ASEAN@Smartkarma - Bank Central Asia, Grab Holdings, and Thai Banks
The past week saw insights on Bank Central Asia (BBCA IJ), Grab Holdings (GRAB US), Dyna Mac (DMHL SP), Delta Electronics Thailand (DELTA TB) and...
386 Views