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.

Equity Bottom-Up

NexAI Digital Infrastruktur / Equity Bottom-Up

<ul><li>NexAI Digital Infrastruktur (MGLV IJ)Emerging Data Center Player MGLV’s Nextier Datamate Center (NDC) led the pivot into AI data center, funded by a Rp2.54tr rights issue &amp; Rp4tr shareholder loan.</li><li>102MW of capacity is slated for 2Q27 in Jababeka and Batang, backed by self-built substation, with path to scale toward 900MW.</li><li>We see the 102MW base to be already priced in; further upside rests on the capacity ramp driven by Zankore's deployment. A backdoor transformation into AI data center </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.

NexAI Digital Infrastruktur (MGLV IJ)Emerging Data Center Player MGLV’s Nextier Datamate Center (NDC) led the pivot into AI data center, funded by a Rp2.54tr rights issue &amp; Rp4tr shareholder loan.102MW of capacity is slated for 2Q27 in Jababeka and Batang, backed by self-built substation, with path to scale toward 900MW.We see the 102MW base to be already priced in; further upside rests on the capacity ramp driven by Zankore's deployment. A backdoor transformation into AI data center 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.

NexAI Digital Infrastruktur (MGLV IJ) Emerging Data Center Player (NOT RATED)

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>As part of a new transparency drive - predicated on MSCI concerns - Indonesia's IDX flagged nine companies with a high shareholder concentration. All with lofty outperformances to match.</li>
<li>The list included Indo's third largest market cap company, coal producer <a href="https://www.smartkarma.com/entities/dian-swastatika-sentosa-tbk" target="_blank" data-smartkarma-citation="entities:15281:1" rel="noopener">Dian Swastatika Sentosa (DSSA IJ)</a>, with an eye-watering trailing PER of 136x. DSSA is backed by the Widjaja family.</li>
<li>
<a href="https://www.smartkarma.com/entities/pt-barito-renewables-energy-tbk" target="_blank" data-smartkarma-citation="entities:40150:1" rel="noopener">Barito Renewables Energy (BREN IJ)</a>, Indo's second-largest company, also made the cut. I've previously flagged this bubble stock in <a href="https://skr.ma/P9wjq" target="_blank" rel="noopener">StubWorld: Barito Renewables (BREN IJ) - This Too Shall Pop.</a>
</li>
</ul>


As part of a new transparency drive - predicated on MSCI concerns - Indonesia's IDX flagged nine companies with a high shareholder concentration. All with lofty outperformances to match.
The list included Indo's third largest market cap company, coal producer Dian Swastatika Sentosa (DSSA IJ), with an eye-watering trailing PER of 136x. DSSA is backed by the Widjaja family.

Barito Renewables Energy (BREN IJ), Indo's second-largest company, also made the cut. I've previously flagged this bubble stock in StubWorld: Barito Renewables (BREN IJ) - This Too Shall Pop.



IDX's Bubble Stocks: Enhanced Reporting Regs Partly Address Investability Concerns

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

Barito Renewables Energy / Index Rebalance

<ul>
<li>Minimum free float has been set at 15% with a timeline for companies to get there. A list of stocks with High Shareholding Concentration has also been released.</li>
<li>There could be 6 deletions from a global index in May with few other stocks having free float reductions. Estimated passive selling in Indonesia is US$1.3bn.</li>
<li>The changes to the free float thresholds and the improved disclosure brings Indonesia in line with other markets in Asia and should allay global index providers concerns.</li>
</ul>


Minimum free float has been set at 15% with a timeline for companies to get there. A list of stocks with High Shareholding Concentration has also been released.
There could be 6 deletions from a global index in May with few other stocks having free float reductions. Estimated passive selling in Indonesia is US$1.3bn.
The changes to the free float thresholds and the improved disclosure brings Indonesia in line with other markets in Asia and should allay global index providers concerns.


Indonesia: Updated Disclosures Could Lead to Multiple Deletions & Float Decreases in May

Indonesia

NexAI Digital Infrastruktur Tbk PT designs and manufactures home furnishing products. The Company offers lighting, wardrobes, cabinets, kitchen and sanitary appliances, and interior decor items. NexAI Digital Infrastruktur Tbk serves customers in Indonesia.

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NexAI Digital Infrastruktur (MGLV IJ)