Indosat Ooredoo Hutchison - Solid 1H24 Earnings (Inline)
IOH’s solid 1H24 net profit of Rp2.73tr (+43% yoy) was in line, driven by 2Q24 margin expansion due to revenue growth and leveragesrealization.
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Telco: Selective Competition and Limited Starlink Threat Imply a Constructive Outlook
Our survey reveals that TSEL’s launch of TSEL Lite and non-Lite packs is targeted toward select segments; hence a marginal impact on IOH/XL.
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Indosat Ooredoo Hutchison - KTAs from Meeting with CFO
IOH aims to grow inline with its spectrum holdings and sees new merger to result in more efficiencies; Starlink will complement market.
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Telco: Poised to Reap Potential Upside from AI Proliferation (OVERWEIGHT)
Semiconductors enable telcos / AI startups to position in the ML and AI market and downstream computing power to their clients.
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Growth Headwinds Priced In, but We Prefer Defensive and ‘quality’ Amid Lingering Uncertainties
We project a softer FY24 EPS growth outlook of +3% yoy (vs. +5% prev.) amid slowing growth in 2Q24, but see limited further downside risk
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