Pertamina Hulu Energi Early Look - The Positives - High Domestic Market Share
Pertamina Hulu Energi (PHE) is looking to raise around US$1bn in its upcoming Indonesia IPO. In this note, we talk about the positive aspects of...
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Bank Mandiri (BMRI IJ): CASA Games Going Strong
We maintain our BUY call on BMRI with an unchanged GGM-derived TP of IDR6,000 (implying 2.3x 2023F PBV) post the decent 1Q23 results.
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The Week That Was in ASEAN@Smartkarma - Matahari Dept Store Has Style, Bank Mandiri, and Astra Intl.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...
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Bank Mandiri (BMRI IJ) – Growth Potential Backed by a Sound Balance Sheet at Attractive Valuations
Mandiri remains our top pick in Indonesian banks, also screening well with EM peers; it trades on low prospective PE multiples, has high growth...
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Bank Mandiri (BMRI IJ) - Riding a Digital Wave
Bank Mandiri (BMRI IJ) released a well-balanced set of results with some pressure on NIMs more than offset by higher loan yields, lower credit...
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