Matahari Dept Store: One of the Best Buying Opportunities Ever? Yes, We Think So

Matahari Department Store: Leading Department Store Chain at a Discount Valuation

ASEAN (Indo) & China-focused. Ex-Deputy HoR UBS.

Johannes Salim, CFA

Equity Bottom-Up

Matahari Department Store / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/5230" target="_blank" data-smartkarma-citation="entities:5230:1">Pt Matahari Department Store (LPPF IJ)</a> posted disappointing 1H18 results big time.</li>
<li>The key lessons we learn from our wrong call are 1) valuation bias/over-focused 2) importance of corporate governance 3) too much emphasis on management's positive guidance 4) misinterpretation of profit cycle and 5) be humble.   </li>
<li>We remove LPPF from our Strong Buy or even a Buy list.</li>
</ul>



Pt Matahari Department Store (LPPF IJ) posted disappointing 1H18 results big time.
The key lessons we learn from our wrong call are 1) valuation bias/over-focused 2) importance of corporate governance 3) too much emphasis on management's positive guidance 4) misinterpretation of profit cycle and 5) be humble.   
We remove LPPF from our Strong Buy or even a Buy list.


Matahari Dept Store: Key Lessons from Our Wrong Call