External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

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. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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.

Equity Bottom-Up

<ul><li>MAIN booked core net profits of IDR 83 billion in 2Q23, wiping out most of its 1Q23 losses of IDR 86 billion (2Q22: IDR 23 billion core net losses)</li><li>The 1H23 core net losses of IDR 4 billion beat our estimate and the consensus for higher losses in FY23F</li><li>We maintain our BUY call on the company with an unchanged TP of IDR550.Strong turnaround in profitability.MAIN booked operating profits of IDR 104 billion in 2Q23</li></ul><p><em>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.</em></p>

MAIN booked core net profits of IDR 83 billion in 2Q23, wiping out most of its 1Q23 losses of IDR 86 billion (2Q22: IDR 23 billion core net losses)The 1H23 core net losses of IDR 4 billion beat our estimate and the consensus for higher losses in FY23FWe maintain our BUY call on the company with an unchanged TP of IDR550.Strong turnaround in profitability.MAIN booked operating profits of IDR 104 billion in 2Q23Content 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.

Malindo Feedmill Indonesia (MAIN IJ) - Positive earnings, turnaround from losses