Indonesia Banking Industry
Analyst: Yap Swie Cu
Intact Aug results in top banks
• Resilient Aug NII
• Total loans grew faster than the industry
• BBCA and BMRI maintained a strong retail funding franchise
• BBRI strengthened its loan loss buffer
• Expecting in-line 3Q23 results. Top picks: BBCA, BMRI, and BBRI
Inflation
Analyst: Chandra Pasaribu
Absence of high-base effect
• Inflation of food and fuel
• Pressure from rice and oil prices
• Manufacturing remains sound while tourism continues to recover
• Domestic activities remained solid
Dharma Satya Nusantara (DSNG IJ)
Not rated
Analyst: Alditya Galih Ramadhan
Casting a glance at its operations
• Retain superior productivity
• Expecting potential upswing
• Green practices in operation
• Valuation
INDUSTRY
• Ministry of Finance to reduce cost on frequency fee
CORPORATE
• UNTR to distribute interim dividend
• LINK to develop a new data center
• KAEF reports respiratory medicine sales grew 20% MoM
• AALI to distribute dividend interim FY23
• IMAS to complete the deal with Mercedes-Benz
• MAYA to raise IDR2.7tn from rights isssue
INDUSTRY
• Upper-tier savings decelerates
CORPORATE
• MDKA invested USD261.5mn
• SKLT plans for a stock split ratio of 1:10
• INDY to establish new subsidiaries
• AMMN’s bottom line eroded by 78% YoY in 1H23
• CAMP remains optimistic for 2H23
INDUSTRY
• Government to offer alternative selection method for spectrum
• Banks strengthen capital structure
• The e-commerce market place is facing dilemma
CORPORATE
• MTEL to acquire 105 towers from three companies
• GIAA merger with Pelita Air to be completed in FY23
• PRDA to focus on digital business
• TINS aims top-line at IDR12tn in FY23
• SGER’s subsidiary to list in IDX, aiming to fetch IDR200mn
• TPMA to navigate high demand via fleet expansion
• TAYS partner with MIXIO Holdings Incorporated to expand into Japanese market
