Bank Niaga (BNGA IJ)
Not rated
Analyst: Yap Swie Cu
Solid 1Q21 result
• Resilient NII owed to lower funding cost
• Robust non-interest income further boosted earnings
• Credit cost stayed at an elevated level
• Maintains cautious outlook for 2021
• Valuation
GDP Growth
Analyst: Chandra Pasaribu
Picking up the pace
• Yet to come out of recession
• Main sectors on the right path
• Purchasing power remains weak
• Selected cyclical sectors might be interesting
Indocement (INTP IJ)
BUY / TP: IDR:14,200 (+14.5%)
Analyst: Chandra Pasaribu
Better growth traction
• Slow start from seasonality
• Mitigating cost pressure
• Feeling more upbeat
• Upgrade to BUY with unchanged TP of IDR14,200 (US$0.99).
Tata Cara Pemesanan Saham IPO PT Harapan Duta Pertiwi TBK
View moreINDUSTRY
• Honda auto sales reached 10,000 units in Apr2021
CORPORATE
• BRPT to focus on power and petrochemical project
• Mega Corpora to strenghten position in BBHI
• BRIS posts IDR742bn 1Q21 net profit
• ACES will open a new outlet in Depok
• AMRT is preparing an expansion fund of IDR3.0tn
CORPORATE
• JSMR foresees traffic volume crunch from homecoming restriction
• ITMG to set capex at USD40.5mn in FY2021
• KIJA booked 35% YoY revenue growth in 1Q21
• DNAR to launch a rights issue
• BidCo will become the controlling shareholder of LPPF
• IRRA budgeted capex IDR250-300bn
• ROTI will distribute dividend amounting IDR300bn
