AKR Corporindo - Recalibrating Our Numbers Post 3Q24 Earnings Miss
We reiterate our BUY rating with a 6% lower TP of Rp1,600. We expect recovery from 4Q24F onwards from JIIPE and petroleum/chemical vol.
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AKR Corporindo - 1H24 Earnings Miss, 2H24 Shall Improve but Is Priced In
AKRA’s 1H24 net profit only reached 35%/33% of our/cons FY24F est., a miss vs. historical seasonality due to weak distribution margins.
211 Views
Redox IPO Lock-Up Expiry - Limited Liquidity Might Provide a Good Excuse to Sell
Redox (RDX AU), a chemical and ingredients distributor, raised US$270m in its IPO in Jun 2023. Some of its founding family shareholders will be...
420 Views
AKR Corporindo - Expect a Better 2H24 Land Sales
We expect JIIPE to remain a key earnings driver in FY24/ FY25, with 100 ha/90 ha of land sales for JIIPE in FY24F/FY25F (+10%/-10% yoy).
322 Views
The Week That Was in ASEAN@Smartkarma - Prodia Ready, AEM, and Vinfast
The past week saw insights on Prodia (PRDA IJ) after a management call and AEM (AEM SP) post-management changes, with some economic commentary on...
270 Views