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.

Thematic (Sector/Industry)

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<strong>Ecosystem growth as the catalyst for Indonesian EV.</strong> EV sales in China have led the EV market growth. BYD and Tesla drive the EV ecosystem setting up facilities and gigafactories in key foreign markets.</li>
<li>
<strong>The latest EV trends.</strong> In the meantime, OEMs are hedging their bets with Toyota’s continued focus on hydrogen fueled vehicles.</li>
<li>
<strong>We prefer MDKA and INCO</strong>. We remain bullish on the metals sector, particularly minerals that are required in the green transition such as nickel.</li>
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Ecosystem growth as the catalyst for Indonesian EV. EV sales in China have led the EV market growth. BYD and Tesla drive the EV ecosystem setting up facilities and gigafactories in key foreign markets.

The latest EV trends. In the meantime, OEMs are hedging their bets with Toyota’s continued focus on hydrogen fueled vehicles.

We prefer MDKA and INCO. We remain bullish on the metals sector, particularly minerals that are required in the green transition such as nickel.


















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.


















APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Merdeka Battery Materials / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/merdeka-battery-materials" target="_blank" data-smartkarma-citation="entities:36864:1" rel="noopener">Merdeka Battery Materials (2012725D IJ)</a> is looking to raise around US$580m in its Indonesian IPO.</li>
<li>It has the largest resource globally in terms of contained nickel at the Konawe Nickel Mine (the SCM Mine), according to Wood Mackenzie. </li>
<li>MBM aims to become a vertically integrated battery materials player. Through a series of acquisitions, it owns one of the world’s largest nickel mines. </li>
</ul>



Merdeka Battery Materials (2012725D IJ) is looking to raise around US$580m in its Indonesian IPO.
It has the largest resource globally in terms of contained nickel at the Konawe Nickel Mine (the SCM Mine), according to Wood Mackenzie. 
MBM aims to become a vertically integrated battery materials player. Through a series of acquisitions, it owns one of the world’s largest nickel mines. 


Merdeka Battery Materials IPO - Commercializing One of the World’s Largest Nickel Mines

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There are 3 changes for the IDX30 Index, 6 changes for the LQ45 Index, and 7 changes for the IDX80 Index at the rebalance to be implemented on 31 January.</li>
<li>Largest passive inflows are expected to be on <a href="https://www.smartkarma.com/entities/sumber-alfaria-trijaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:15659:1" rel="noopener">Sumber Alfaria Trijaya Tbk Pt (AMRT IJ)</a> and <a href="https://www.smartkarma.com/entities/surya-esa-perkasa-tbk-pt" target="_blank" data-smartkarma-citation="entities:14326:1" rel="noopener">Surya Esa Perkasa (ESSA IJ)</a>. </li>
<li>With only 4 days to implementation, there will be relatively big moves on stocks that have large flow/impact from passive fund trading.</li>
</ul>


There are 3 changes for the IDX30 Index, 6 changes for the LQ45 Index, and 7 changes for the IDX80 Index at the rebalance to be implemented on 31 January.
Largest passive inflows are expected to be on Sumber Alfaria Trijaya Tbk Pt (AMRT IJ) and Surya Esa Perkasa (ESSA IJ). 
With only 4 days to implementation, there will be relatively big moves on stocks that have large flow/impact from passive fund trading.


IDX30/​​LQ45/IDX80 Index Rebalance: 4 Days to Implementation

Bumi Resources Minerals Tbk / Event-Driven

<ul>
<li>The review period for the LQ45 Index ended on 30 December. The changes should be announced in the last week of January, becoming effective after the close on 31 January.</li>
<li>Potential adds are <a href="https://www.smartkarma.com/entities/bumi-resources-minerals-tbk" target="_blank" data-smartkarma-citation="entities:9136:1" rel="noopener">Bumi Resources Minerals Tbk (BRMS IJ)</a>, <a href="https://www.smartkarma.com/entities/surya-esa-perkasa-tbk-pt" target="_blank" data-smartkarma-citation="entities:14326:1" rel="noopener">Surya Esa Perkasa (ESSA IJ)</a>,<a href="https://www.smartkarma.com/entities/saratoga-investama-sedaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:13714:1" rel="noopener"> Saratoga Investama Sedaya (SRTG IJ)</a>, <a href="https://www.smartkarma.com/entities/adaro-minerals" target="_blank" data-smartkarma-citation="entities:35927:1" rel="noopener">Adaro Minerals (ADMR IJ)</a> and <a href="https://www.smartkarma.com/entities/pt-dayamitra-telekomunikasi" target="_blank" data-smartkarma-citation="entities:34741:1" rel="noopener">Mitratel (MTEL IJ)</a>. </li>
<li>Potential deletions are <a href="https://www.smartkarma.com/entities/wijaya-karya-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:1877:1" rel="noopener">PT Wijaya Karya (Persero) Tbk (WIKA IJ)</a>, <a href="https://www.smartkarma.com/entities/erajaya-swasembada-tbk-pt" target="_blank" data-smartkarma-citation="entities:18869:1" rel="noopener">Erajaya Swasembada (ERAA IJ)</a>, <a href="https://www.smartkarma.com/entities/media-nusantara-citra-tbk-pt" target="_blank" data-smartkarma-citation="entities:6881:1" rel="noopener">Media Nusantara Citra (MNCN IJ)</a>, <a href="https://www.smartkarma.com/entities/chandra-asri-petrochemical" target="_blank" data-smartkarma-citation="entities:2556:1" rel="noopener">Chandra Asri Petrochemical (TPIA IJ)</a> and <a href="https://www.smartkarma.com/entities/hm-sampoerna-tbk-pt" target="_blank" data-smartkarma-citation="entities:617:1" rel="noopener">HM Sampoerna (HMSP IJ)</a>. </li>
</ul>


The review period for the LQ45 Index ended on 30 December. The changes should be announced in the last week of January, becoming effective after the close on 31 January.
Potential adds are Bumi Resources Minerals Tbk (BRMS IJ), Surya Esa Perkasa (ESSA IJ), Saratoga Investama Sedaya (SRTG IJ), Adaro Minerals (ADMR IJ) and Mitratel (MTEL IJ). 
Potential deletions are PT Wijaya Karya (Persero) Tbk (WIKA IJ), Erajaya Swasembada (ERAA IJ), Media Nusantara Citra (MNCN IJ), Chandra Asri Petrochemical (TPIA IJ) and HM Sampoerna (HMSP IJ). 


LQ45 Index Rebalance Preview (Jan): Few Weeks to Implementation

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia. </li>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/adaro-energy-tbk-pt" target="_blank" data-smartkarma-citation="entities:6061:1" rel="noopener">Adaro Energy</a>, <a href="https://www.smartkarma.com/entities/indocement-tunggal-prakarsa" target="_blank" data-smartkarma-citation="entities:4040:1" rel="noopener">Indocement</a>, <a href="https://www.smartkarma.com/entities/saratoga-investama-sedaya-tbk-pt" target="_blank" data-smartkarma-citation="entities:13714:1" rel="noopener">Saratoga Investama</a>, <a href="https://www.smartkarma.com/entities/berli-jucker-public-co-ltd" target="_blank" data-smartkarma-citation="entities:3685:1" rel="noopener">Berli Jucker</a>, <a href="https://www.smartkarma.com/entities/bumrungrad-hospital-pub-co" target="_blank" data-smartkarma-citation="entities:883:1" rel="noopener">Bumrungrad Hospital</a>, <a href="https://www.smartkarma.com/entities/synnex-thailand-pcl" target="_blank" data-smartkarma-citation="entities:8077:1" rel="noopener">Synnex Thailand</a>, <a href="https://www.smartkarma.com/entities/singapore-telecommunications" target="_blank" data-smartkarma-citation="entities:20:1" rel="noopener">Singtel</a>, and <a href="https://www.smartkarma.com/entities/chip-eng-seng-corp-ltd" target="_blank" data-smartkarma-citation="entities:6441:1" rel="noopener">Chip Eng Seng Corp (CHIP SP)</a>.  </li>
<li>We also had stocks to own in ASEAN from <a href="https://www.smartkarma.com/profiles/dr-andrew-stotz-cfa" target="_blank" data-smartkarma-citation="accounts:756" rel="noopener">Dr Andrew Stotz</a>, and sector views on Banks, IT, property, and hotels in Thailand from <a href="https://www.smartkarma.com/companies/pi-securities-pcl-thailand" target="_blank" data-smartkarma-citation="companies:965" rel="noopener">Pi Securities</a>.</li>
</ul>


The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia. 
The past week saw insights on Adaro Energy, Indocement, Saratoga Investama, Berli Jucker, Bumrungrad Hospital, Synnex Thailand, Singtel, and Chip Eng Seng Corp (CHIP SP).  
We also had stocks to own in ASEAN from Dr Andrew Stotz, and sector views on Banks, IT, property, and hotels in Thailand from Pi Securities.


The Week That Was in ASEAN@Smartkarma - Adaro Beyond Coal, Indocement, and SingTel Back in Favour?

Indonesia

Aneka Tambang Persero Tbk PT is a diversified mining and metals company. The Company produces ferronickel, nickel ore, gold, silver, bauxite and coal. Aneka Tambang is currently building a chemical grade alumina smelter and is looking to build  a smelter grade alumina smelter as well as a nickel pig iron smelter.

PT Vale Indonesia Tbk produces nickel in matte, an intermediate product, from lateritic ores at its integrated mining and processing facilities near Soroako, Sulawesi

Bumi Resources Minerals Tbk PT is an exploration and exploitation mining company.

PT Cita Mineral Investindo Tbk is a mineral exploration company. The Company mines for and produces bauxite.

PT Archi Indonesia Tbk operates as a mining company. The Company explores and develops silver and gold projects. Archi Indonesia serves customers worldwide.

PT Timah (Persero) Tbk operates tin mines on Indonesian islands such as Bangka and Karimun, and coastal areas of Sumatra. The Company, through its subsidiaries, also provides consultancy, shipping dockyard and workshop, transportation, exploration, and research and development services.

PT J Resources Asia Pasifik Tbk explores for and produces gold.  The Company operates in the Australasian region.

PT Krakatau Steel Persero Tbk is the iron and steel producer in Indonesia. The Company is a  state-owned enterprise and located in Cilegon, Indonesia. Krakatau Steel consists of production plants that produce hot rolled coils, plates and sheets.

PT Steel Pipe Industry Of Indonesia Tbk manufactures steel pipes. The Company produces ERW pipes, spiral welded pipes, stainless steel welded pipes, electric poles, lighting poles, scaffolding and other related products.

Steel Pipe Industry of Indonesia (ISSP IJ)

PT Darma Henwa Tbk is a coal mining company. The Company also provides machinery leasing and energy consultancy services.

Angang Steel Company Limited produces steel products which include cold rolled sheets, steel rail, pipe billets, wire rods, thick plates, and other steel products.

IGO Limited operates as an exploration company. The Company explores and mines copper, ore, nickel, gold, and other mineral resources. IGO serves customers worldwide.

Alumina Limited is an Australian resource company that produces alumina.  The Company owns about 40% of Alcoa World Alumina and Chemicals through a joint venture with Alcoa.

Hyundai Steel Company is an electric furnace steel maker.  The Company manufactures concrete reinforcing bars, H beams, stainless steel sheets, cast steel, and other steel products.  Hyundai Steel sells its products to the domestic and overseas markets.

Shanxi Taigang Stainless Steel Co., Ltd. manufactures and markets stainless steel ingots and billets.  The Company also processes and produces other steel products including hot rolled steel plates and tandem steel plates.

National Aluminium Co. Ltd. is an integrated aluminum manufacturer. The Company mines for bauxite, refines bauxite into aluminum and manufactures and sells aluminum and aluminum products. National Aluminium Company's products include bauxite, aluminum hydrate, calcined aluminum, aluminum ingots and aluminum wire rods, as well as electricity which is generated for captive consumption.

Yunnan Chihong Zinc & Germanium Co., Ltd. mines and produces a variety of non-ferrous metals including zinc, lead, and germanium. The Company also produces silver and sulfuric acid.

Yunnan Chihong Zinc&Germanium Co, Ltd. (600497 CH)

China Minmetals Rare Earth Co Ltd engages in south ionic rare earth separation and processing. The Company mainly focuses on the production and distribution of rare earth oxide, rare earth metal, and highly processed products of rare earth, as well as the research and consult service of rare earth techniques.

Yunnan Tin Co., Ltd. produces and markets tin, tin alloy products, and tin chemicals.  The Company sells its tin products under the YT trade mark.

Nanjing Iron & Steel Co., Ltd. produces a variety of iron and steel products. The Company's products include steel plates, steel belts, structure steel, concrete iron, steel billets, cast iron, and related by-products.

PT Merdeka Copper Gold Tbk is a mineral and mining company.  The Company mines for gold and copper.

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Merdeka Copper Gold Tbk PT (MDKA IJ)

Thematic: Electric Vehicles

Ecosystem growth as the catalyst for Indonesian EV. EV sales in China have led the EV market growth. BYD and Tesla drive the EV ecosystem.

BRI Danareksa Research

Merdeka Battery Materials IPO - Commercializing One of the World’s Largest Nickel Mines

Merdeka Battery Materials (2012725D IJ) is looking to raise around US$580m in its Indonesian IPO. MBM aims to become a vertically integrated...

Ethan Aw

IDX30/LQ45/IDX80 Index Rebalance: 4 Days to Implementation

There are 3, 6 and 7 changes for the IDX30, LQ45 and IDX80 indices. There are only 4 days to implementation and multiple days ADV to trade on a lot...

Brian Freitas

LQ45 Index Rebalance Preview (Jan): Few Weeks to Implementation

We filter stocks that have a possibility of becoming adds/deletes for the LQ45 Index in Jan. The impact on the deletes will be higher, plus there...

Brian Freitas

The Week That Was in ASEAN@Smartkarma - Adaro Beyond Coal, Indocement, and SingTel Back in Favour?

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic: Electric Vehicles

Ecosystem growth as the catalyst for Indonesian EV. EV sales in China have led the EV market growth. BYD and Tesla drive the EV ecosystem.

BRI Danareksa Research

Merdeka Battery Materials IPO - Commercializing One of the World’s Largest Nickel Mines

Merdeka Battery Materials (2012725D IJ) is looking to raise around US$580m in its Indonesian IPO. MBM aims to become a vertically integrated...

Ethan Aw

IDX30/​​LQ45/IDX80 Index Rebalance: 4 Days to Implementation

There are 3, 6 and 7 changes for the IDX30, LQ45 and IDX80 indices. There are only 4 days to implementation and multiple days ADV to trade on a lot...

Brian Freitas

LQ45 Index Rebalance Preview (Jan): Few Weeks to Implementation

We filter stocks that have a possibility of becoming adds/deletes for the LQ45 Index in Jan. The impact on the deletes will be higher, plus there...

Brian Freitas

The Week That Was in ASEAN@Smartkarma - Adaro Beyond Coal, Indocement, and SingTel Back in Favour?

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

IDX30/LQ45/IDX80 Index Rebalance: 4 Days to Implementation