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

BRI Danareksa Research

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.

Thematic (Sector/Industry)

<ul><li>Retailers have offered healthy promotions Ytd, while we observed some FMCG price increases ahead of the Eid Festive season.</li><li>Amid reports of soft sales and demand in Feb Ytd, we believe the affordable FMCG segment should remain lucrative.</li><li>We maintain OW ratings in the Consumer and Retail sectors. We prefer MAPI and KLBF as our top picks, as both offer attractive valuations.</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>

Retailers have offered healthy promotions Ytd, while we observed some FMCG price increases ahead of the Eid Festive season.Amid reports of soft sales and demand in Feb Ytd, we believe the affordable FMCG segment should remain lucrative.We maintain OW ratings in the Consumer and Retail sectors. We prefer MAPI and KLBF as our top picks, as both offer attractive valuations.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.

Retailers Boost Promotions as FMCG Prices Rise Ahead of Eid Festive (OVERWEIGHT)

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042:1" rel="noopener">Arwana Citramulia (ARNA IJ)</a>, <a href="https://www.smartkarma.com/entities/bfi-finance-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:8447:1" rel="noopener">BFI Finance Indonesia (BFIN IJ)</a>, <a href="https://www.smartkarma.com/entities/raffles-medical-group-ltd" target="_blank" data-smartkarma-citation="entities:879:1" rel="noopener">Raffles Medical Group (RFMD SP)</a> and <a href="https://www.smartkarma.com/entities/yangzijiang-shipbuilding-holdings-limited" target="_blank" data-smartkarma-citation="entities:660:1" rel="noopener">Yangzijiang Shipbuilding (YZJSGD SP)</a>.</li>
<li>
<a href="https://www.smartkarma.com/profiles/brian-freitas" target="_blank" data-smartkarma-citation="accounts:4091" rel="noopener">Brian Freitas</a> published on <a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab Holdings</a> and <a href="https://www.smartkarma.com/entities/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea Ltd (SE US)</a> and increasing foreign holdings, whilst <a href="https://www.smartkarma.com/profiles/daniel-tabbush" target="_blank" data-smartkarma-citation="accounts:12" rel="noopener">Daniel Tabbush</a> revisits Singapore Banks, with a further insight on the tech sector in Singapore.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom, from across Southeast Asia.</li>
</ul>


The past week saw insights on Arwana Citramulia (ARNA IJ), BFI Finance Indonesia (BFIN IJ), Raffles Medical Group (RFMD SP) and Yangzijiang Shipbuilding (YZJSGD SP).

Brian Freitas published on Grab Holdings and Sea Ltd (SE US) and increasing foreign holdings, whilst Daniel Tabbush revisits Singapore Banks, with a further insight on the tech sector in Singapore.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - Arwana, BFI Finance Indonesia, and Singapore Banks

<ul>
<li>Prabowo's first 100 days in office have seen a mixed picture in terms of policy, with efforts to boost consumption and growth, whilst at the same time bolstering government revenues.</li>
<li>The recent rate cut was unexpected but represented BI's intention to drive growth rather than a flawed fixation on protecting the IDR, which given low inflation looks pragmatic. </li>
<li>Recent market weakness represents an opportunity to accumulate high-quality banks and consumer companies, which have seen a recent sell-down, with the IDR weakness likely to be temporary. </li>
</ul>


Prabowo's first 100 days in office have seen a mixed picture in terms of policy, with efforts to boost consumption and growth, whilst at the same time bolstering government revenues.
The recent rate cut was unexpected but represented BI's intention to drive growth rather than a flawed fixation on protecting the IDR, which given low inflation looks pragmatic. 
Recent market weakness represents an opportunity to accumulate high-quality banks and consumer companies, which have seen a recent sell-down, with the IDR weakness likely to be temporary. 


CrossASEAN Indonesia Strategy - Refining the Balance

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Japfa Comfeed Indonesia / Index Rebalance

<ul>
<li>There are 2 constituent changes for the IDX30 Index, and 3 changes each for the LQ45 Index and IDX80 Index to be implemented at the close on 31 January.</li>
<li>The largest passive flows are expected in <a href="https://www.smartkarma.com/entities/bank-central-asia-tbk-pt" target="_blank" data-smartkarma-citation="entities:440:1" rel="noopener">Bank Central Asia</a>, <a href="https://www.smartkarma.com/entities/indosat-tbk-pt" target="_blank" data-smartkarma-citation="entities:5737:1" rel="noopener">Indosat</a>, <a href="https://www.smartkarma.com/entities/japfa-comfeed-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:8258:1" rel="noopener">Japfa Comfeed Indonesia</a>, <a href="https://www.smartkarma.com/entities/indocement-tunggal-prakarsa" target="_blank" data-smartkarma-citation="entities:4040:1" rel="noopener">Indocement Tunggal Prakarsa</a>, <a href="https://www.smartkarma.com/entities/dayamitra-telekomunikasi-pt" target="_blank" data-smartkarma-citation="entities:34741:1" rel="noopener">Dayamitra Telekomunikasi</a>, <a href="https://www.smartkarma.com/entities/map-aktif-adiperkasa-pt" target="_blank" data-smartkarma-citation="entities:27291:1" rel="noopener">MAP Aktif Adiperkasa</a>, <a href="https://www.smartkarma.com/entities/bank-mandiri-persero-tbk-pt" target="_blank" data-smartkarma-citation="entities:441:1" rel="noopener">Bank Mandiri Persero</a>, <a href="https://www.smartkarma.com/entities/ciputra-development-tbk-pt" target="_blank" data-smartkarma-citation="entities:5513:1" rel="noopener">Ciputra Development</a> and <a href="https://www.smartkarma.com/entities/xl-axiata-tbk-pt" target="_blank" data-smartkarma-citation="entities:15028:1" rel="noopener">XL Axiata</a>.</li>
<li>With only 4 days to implementation, there could be relatively big moves on stocks that have large flow/impact from passive fund trading.</li>
</ul>


There are 2 constituent changes for the IDX30 Index, and 3 changes each for the LQ45 Index and IDX80 Index to be implemented at the close on 31 January.
The largest passive flows are expected in Bank Central Asia, Indosat, Japfa Comfeed Indonesia, Indocement Tunggal Prakarsa, Dayamitra Telekomunikasi, MAP Aktif Adiperkasa, Bank Mandiri Persero, Ciputra Development and XL Axiata.
With only 4 days to implementation, there could be relatively big moves on stocks that have large flow/impact from passive fund trading.


IDX30/​​LQ45/IDX80 Index Rebalance: Big Impact in Some Stocks with 4 Days to Implementation

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/aspirasi-hidup-indonesia-tbk" target="_blank" data-smartkarma-citation="entities:12808:1" rel="noopener">Aspirasi Hidup Indonesia (ACES IJ)</a>, <a href="https://www.smartkarma.com/entities/vinfast-auto-ltd" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">Vinfast (VFS US)</a>, <a href="https://www.smartkarma.com/entities/suntec-reit" target="_blank" data-smartkarma-citation="entities:151:1" rel="noopener">Suntec REIT (SUN SP)</a>, <a href="https://www.smartkarma.com/entities/ginebra-san-miguel-inc" target="_blank" data-smartkarma-citation="entities:23029:1" rel="noopener">Ginebra San Miguel (GSMI PM)</a>, and <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a>.</li>
<li>There was also a macro insight on Malaysia and a year-ahead outlook for Southeast Asia Tech</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated substantive, and actionable insights, macro and equity bottom, from across Southeast Asia.</li>
</ul>


The past week saw insights on Aspirasi Hidup Indonesia (ACES IJ), Vinfast (VFS US), Suntec REIT (SUN SP), Ginebra San Miguel (GSMI PM), and The Keepers Holdings (KEEPR PM).
There was also a macro insight on Malaysia and a year-ahead outlook for Southeast Asia Tech
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated substantive, and actionable insights, macro and equity bottom, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - ACE to AZKO, Vinfast Going Direct, and The Keepers

Indonesia

PT Aspirasi Hidup Indonesia Tbk retails tools, home improvement products, lawn and garden supplies, plumbing, furniture, sporting goods, and pet supplies.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Aspirasi Hidup Indonesia (ACES IJ)

Retailers Boost Promotions as FMCG Prices Rise Ahead of Eid Festive (OVERWEIGHT)

Retailers have offered healthy promotions Ytd, while we observed some FMCG price increases ahead of the Eid Festive season.

BRI Danareksa Research

The Week That Was in ASEAN@Smartkarma - Arwana, BFI Finance Indonesia, and Singapore Banks

The past week saw insights on Arwana Citramulia (ARNA IJ), BFI Finance Indonesia (BFIN IJ), Raffles Medical Group (RFMD SP) and Yangzijiang...

Angus Mackintosh

CrossASEAN Indonesia Strategy - Refining the Balance

Prabowo's first 100 days in office have seen a mixed picture in terms of policy, with efforts to boost consumption and growth, whilst at the same...

Angus Mackintosh

IDX30/LQ45/IDX80 Index Rebalance: Big Impact in Some Stocks with 4 Days to Implementation

There are 2 constituent changes for the IDX30, and 3 each for LQ45 and IDX80 indices to be implemented at the close 31 Jan. There are stocks with...

Brian Freitas

The Week That Was in ASEAN@Smartkarma - ACE to AZKO, Vinfast Going Direct, and The Keepers

The past week saw insights on Aspirasi Hidup Indonesia (ACES IJ), Vinfast (VFS US), Suntec REIT (SUN SP), Ginebra San Miguel (GSMI PM), and The...

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Retailers Boost Promotions as FMCG Prices Rise Ahead of Eid Festive (OVERWEIGHT)

Retailers have offered healthy promotions Ytd, while we observed some FMCG price increases ahead of the Eid Festive season.

BRI Danareksa Research

The Week That Was in ASEAN@Smartkarma - Arwana, BFI Finance Indonesia, and Singapore Banks

The past week saw insights on Arwana Citramulia (ARNA IJ), BFI Finance Indonesia (BFIN IJ), Raffles Medical Group (RFMD SP) and Yangzijiang...

Angus Mackintosh

CrossASEAN Indonesia Strategy - Refining the Balance

Prabowo's first 100 days in office have seen a mixed picture in terms of policy, with efforts to boost consumption and growth, whilst at the same...

Angus Mackintosh

IDX30/​​LQ45/IDX80 Index Rebalance: Big Impact in Some Stocks with 4 Days to Implementation

There are 2 constituent changes for the IDX30, and 3 each for LQ45 and IDX80 indices to be implemented at the close 31 Jan. There are stocks with...

Brian Freitas

The Week That Was in ASEAN@Smartkarma - ACE to AZKO, Vinfast Going Direct, and The Keepers

The past week saw insights on Aspirasi Hidup Indonesia (ACES IJ), Vinfast (VFS US), Suntec REIT (SUN SP), Ginebra San Miguel (GSMI PM), and The...

Angus Mackintosh

IDX30/LQ45/IDX80 Index Rebalance: Big Impact in Some Stocks with 4 Days to Implementation