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)

<ul><li>Glimpse of RecoveryThere were some encouraging signs of brisker economic activity in May, with higher loans growth of 9.4% (vs April 8.1%) and M2 Money Supply growth of 6.6% (vs April 5.5%)</li><li>A lower fiscal surplus in May also indicated higher government spending activity</li><li>We anticipate improvements in the banking sector's intermediary function, supported by ample liquidity and favourable rates</li></ul>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.

Glimpse of RecoveryThere were some encouraging signs of brisker economic activity in May, with higher loans growth of 9.4% (vs April 8.1%) and M2 Money Supply growth of 6.6% (vs April 5.5%)A lower fiscal surplus in May also indicated higher government spending activityWe anticipate improvements in the banking sector's intermediary function, supported by ample liquidity and favourable ratesContent 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.

Macro and Flows Tracker - Glimpse of Recovery

Cross Asset Strategy

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<li>Following the release of the FY22 results, we revise our earnings estimates for SOE contractors under our coverage</li>
<li>State Budget Recorded Surplus of IDR 128.5 tn as of March 2023</li>
<li>BSDE (1Q23 Marketing Sales) – Resilient sales from residential and commercial</li>
</ul>
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.


Following the release of the FY22 results, we revise our earnings estimates for SOE contractors under our coverage
State Budget Recorded Surplus of IDR 128.5 tn as of March 2023
BSDE (1Q23 Marketing Sales) – Resilient sales from residential and commercial

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.

<ul><li>Strategy: Macro and Flows Tracker - Currency Strength Boosts Flows</li><li>Cigarette: Waiting for change (OVERWEIGHT)</li><li>Cement sales volume March 2023: Monthly volume improved, higher market share for SMGR</li></ul>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.

Strategy: Macro and Flows Tracker - Currency Strength Boosts FlowsCigarette: Waiting for change (OVERWEIGHT)Cement sales volume March 2023: Monthly volume improved, higher market share for SMGRContent 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.

Indonesia

PT Semen Indonesia (Persero) Tbk manufactures cement including portland cement, oil well cement, and mixed cement. Through its subsidiaries, the Company also develops and operates an industrial estate, mines limestone and clay, and packages and distributes cement.

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Semen Indonesia (Gresik) (SMGR IJ)

Macro and Flows Tracker - Glimpse of Recovery

We anticipate improvements in the banking sector's intermediary function, supported by ample liquidity and favourable rates

BRI Danareksa Research

Equity Snapshot: April 18, 2023

Following the release of the FY22 results, we revise our earnings estimates for SOE contractors under our coverage. State Budget Recorded Surplus...

BRI Danareksa Research

Equity Snapshot: April 17, 2023

See important disclosure at the back of this report bridanareksa sekuritas .co.idContent is external broker report sourced from online content...

BRI Danareksa Research

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