External broker reports(aggregated public sources), MNC Sekuritas

MNC Sekuritas

External broker reports(aggregated public sources)

MNC Sekuritas, the first wholly-owned subsidiary established by the Group back in 1989, provides a complete range of services, from equity, fixed income, investment banking to providing research to optimize clients’ investments. Thus far, the company has more than 140 points of sales with over 100,000 clients. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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<ul><li>Balancing Structural Decline with Investment Ambitions in EnergyKey Takeaways:-  Indonesia’s oil and gas lifting target for FY25E has been revised down to 605k bpd/6,030 mmscfd due to the dominance of aging wells, high investment costs, and limited infrastructure</li><li>The government is accelerating production through 15 new projects and several long-term developments such as Masela block in FY30F and IDD project in FY27F</li><li>-  Global oil demand is expected to grow moderately due to efficiency improvements and the energy transition, especially in China</li></ul>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.

Balancing Structural Decline with Investment Ambitions in EnergyKey Takeaways:-  Indonesia’s oil and gas lifting target for FY25E has been revised down to 605k bpd/6,030 mmscfd due to the dominance of aging wells, high investment costs, and limited infrastructureThe government is accelerating production through 15 new projects and several long-term developments such as Masela block in FY30F and IDD project in FY27F-  Global oil demand is expected to grow moderately due to efficiency improvements and the energy transition, especially in ChinaContent 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.

<ul><li>Surviving Amid Geopolitical Tensions and Declining DemandKey Takeaways:-  China has made significant investments in clean energy, accounting for nearly half of global energy investments marks china as a global leader</li><li>However, its energy transitions policies have reduced global crude oil demand</li><li>Meanwhile, Indonesia is advancing its energy goals with the government approving the POD for Geng North, with targets oil production of 605,000 bpd by FY25F</li></ul>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.

Surviving Amid Geopolitical Tensions and Declining DemandKey Takeaways:-  China has made significant investments in clean energy, accounting for nearly half of global energy investments marks china as a global leaderHowever, its energy transitions policies have reduced global crude oil demandMeanwhile, Indonesia is advancing its energy goals with the government approving the POD for Geng North, with targets oil production of 605,000 bpd by FY25FContent 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.

Oil & Gas Sectoral Update December 05, 2024

<ul><li>The global crude oil prices showed a hike in Apr-2024 with average Brent spot price stood at USD89.0/BBL and WTI at USD84.4/BBL, respectively increasing from USD84.7/BBL and USD80.4/BBL.</li><li>This climb was mainly driven by the easing global oil inventories following OPEC’s decision to implement voluntary production cuts until 1H24, resulting in an average of 0.3mbpd global oil stocks reduction.</li><li>Concurrently, the heating geopolitical friction in Middle East amid Iran and Israel, also contributed to the global oil prices. </li></ul>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.

The global crude oil prices showed a hike in Apr-2024 with average Brent spot price stood at USD89.0/BBL and WTI at USD84.4/BBL, respectively increasing from USD84.7/BBL and USD80.4/BBL.This climb was mainly driven by the easing global oil inventories following OPEC’s decision to implement voluntary production cuts until 1H24, resulting in an average of 0.3mbpd global oil stocks reduction.Concurrently, the heating geopolitical friction in Middle East amid Iran and Israel, also contributed to the global oil prices. 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.

Oil and Gas: Fragile Recovery: Not Out of the Red Yet

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

BRI Danareksa Research

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.

<ul><li>Our FY23 results recap shows market EPS growth of -12% yoy, but growth would reach +4.1% if we exclude one-offs (mainly from GOTO).</li><li>We see mixed growth prospects for 1Q24 with ST headwinds in Banks and Telco, but possible outperformers in Consumers, Retail, Healthcare.</li><li>We reiterate our view on commodities as a possible ST tactical play, along with the defensive domestic names for preferred 2Q24 exposure.</li></ul>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.

Our FY23 results recap shows market EPS growth of -12% yoy, but growth would reach +4.1% if we exclude one-offs (mainly from GOTO).We see mixed growth prospects for 1Q24 with ST headwinds in Banks and Telco, but possible outperformers in Consumers, Retail, Healthcare.We reiterate our view on commodities as a possible ST tactical play, along with the defensive domestic names for preferred 2Q24 exposure.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.

Equity Strategy: Short-Term Domestic Growth Challenges in 2Q24 May Drive Further De-Risking

<ul><li>The possibility of petroleum supply disruptions and slower-than-expected replenishment of SPR inventory may act to sustain oil prices at high levels (above USD70/bbl), in our view.</li><li>Against such a backdrop, we continue to like MEDC (Buy, TP IDR1,900) as our top pick in the sector.</li><li>OPEC+ measures undermine the impact of soaring US oil production. </li></ul>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.

The possibility of petroleum supply disruptions and slower-than-expected replenishment of SPR inventory may act to sustain oil prices at high levels (above USD70/bbl), in our view.Against such a backdrop, we continue to like MEDC (Buy, TP IDR1,900) as our top pick in the sector.OPEC+ measures undermine the impact of soaring US oil production. 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.

Indonesia

AKR Corporindo is a leading provider of integrated supply chain solutions in Indonesia. The company primarily distributes and trades petroleum and basic chemicals to industrial customers, also offering logistics services like warehousing and transportation. Additionally, it manufactures sorbitol and adhesive materials, and develops integrated industrial and port estates. Headquartered in Jakarta, Indonesia, the company was established in 1977.

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AKR Corporindo (AKRA IJ)

Oil & Gas Sectoral Update July 10, 2025

The government is accelerating production through 15 new projects and several long-term developments such as Masela block in FY30F and IDD project...

MNC Sekuritas

Oil & Gas Sectoral Update December 05, 2024

China has made significant investments in clean energy, accounting for nearly half of global energy investments marks china as a global leader

MNC Sekuritas

Oil and Gas: Fragile Recovery: Not Out of the Red Yet

The global crude oil prices showed a hike in Apr-2024 with average Brent spot price stood at USD89.0/BBL and WTI at USD84.4/BBL, respectively...

MNC Sekuritas

Equity Strategy: Short-Term Domestic Growth Challenges in 2Q24 May Drive Further De-Risking

Our FY23 results recap shows market EPS growth of -12% yoy, but growth would reach +4.1% if we exclude one-offs (mainly from GOTO).

BRI Danareksa Research

Oil & Gas - Oil on Fire

The possibility of petroleum supply disruptions and slower-than-expected replenishment of SPR inventory may act to sustain oil prices at high...

BRI Danareksa Research

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