Mitra Adiperkasa (MAPI IJ) - Looking Beyond the Archipelago
We reiterate our BUY call on MAPI with an unchanged TP of IDR2,300 (-0.5SD of its 4-normal years PE-target at 17.4x) as we maintain our FY23F...
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Retail: 2Q24 Preview: ACES and MIDI Shine, MAPA/MAPI May Face Challenges (OVERWEIGHT)
ACES and MIDI reported solid 2Q24 SSSG, which leads us to expect robust core profit growth of +23% and +21% yoy, respectively.
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Retail : May24 Channel Check
ACES is continuing its thematic and cashback promotions which will sustain SSSG at the mid-single digit level. Maintain Overweight
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Retail Sector: Potential Boost from Ied Festives and Promotions (OVERWEIGHT)
We noted more foot traffic to retail/shopping areas toward the end of Mar24, likely supported by the disbursement of the holiday allowance.
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Retail Sector - Vibrant Rebound at Key Shopping Centers
Our recent visit to Tanah Abang, Thamrin City and Little Bangkok revealed more vibrant shopping than in the similar period last year.
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