In today’s briefing:
- Astra International (ASII IJ) – Crossing EV Boundaries
- Asia HY Monthly – August 2023 – Lucror Analytics
Astra International (ASII IJ) – Crossing EV Boundaries
- Astra International (ASII IJ) looks set to have another year of positive growth driven by strong performance from its Auto and 2W businesses and steady performance from United Tractors.
- The company’s move into the EV space has begun with 16 models hybrid or BEV models already launched, with 4W hybrid outperforming ICE given narrowing price differentials.
- Astra International (ASII IJ) continues to invest in core growth areas of the Indonesian economy, with a strong sustainability bent. Valuations are attractive versus history on 8.3x FY2024E PER.
Asia HY Monthly – August 2023 – Lucror Analytics
The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks. The Asia Monthly is intended to broaden investors’ understanding of the Asian USD high-yield market.
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