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

Perusahaan Gas Negara Perser / Equity Bottom-Up

<ul><li>We believe PGAS shall maintain its gas distribution spread in the short-term, given ESDM and SKK MIGAS affirmation of no gas price increases for non-HGBT customers.</li><li>We also foresee no impairment on SAKA assets in FY23 and no additional major impairment on Gunvor contracts in 2H23. Maintain Buy rating with TP of IDR1,800/sh.</li><li>Expect gas distribution spread to be maintained; supply gap in FY23-FY24F remains a risk. </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.

We believe PGAS shall maintain its gas distribution spread in the short-term, given ESDM and SKK MIGAS affirmation of no gas price increases for non-HGBT customers.We also foresee no impairment on SAKA assets in FY23 and no additional major impairment on Gunvor contracts in 2H23. Maintain Buy rating with TP of IDR1,800/sh.Expect gas distribution spread to be maintained; supply gap in FY23-FY24F remains a risk. 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.

Perusahaan Gas Negara (PGAS IJ) - Attractively Valued Amid Subsiding Overhangs

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/lippo-malls-indonesia-retail-trust' target='_blank' rel='noopener'>Lippo Malls Indonesia Retail Trust</a></li><li><a href='/entities/vedanta-resources-ltd' target='_blank' rel='noopener'>Vedanta Resources</a></li><li><a href='/entities/renew-energy-global-plc' target='_blank' rel='noopener'>ReNew Energy Global </a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/geely-automobile-holdings-ltd' target='_blank' rel='noopener'>Geely Auto</a></li></ol>and more...

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In our inaugural Asian Monthly for 2024, we discuss the regional credit outlook for the year, with a focus on China, India, Indonesia as well as our favoured bonds. We also provide a review of 2023, including new Asian USD corporate bond issuances and defaults last year.

  In our inaugural Asian Monthly for 2024, we discuss the regional credit outlook for the year, with a focus on China, India, Indonesia as well as our favoured bonds. We also provide a review of 2023, including new Asian USD corporate bond issuances and defaults last year. 

Asia Monthly - 2024 Asia Credit Outlook And 2023 In Review - Lucror Analytics

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Indonesia

PT Perusahaan Gas Negara Persero Tbk operates in the distribution and transmission of natural gas to industrial, commercial and household users.

Perusahaan Gas Negara Perser (PGAS IJ)

Perusahaan Gas Negara (PGAS IJ) - Attractively Valued Amid Subsiding Overhangs

We believe PGAS shall maintain its gas distribution spread in the short-term, given ESDM and SKK MIGAS affirmation of no gas price increases for...

BRI Danareksa Research

Weekly Wrap - 19 Jan 2024

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Lucror Analytics

Weekly Wrap - 12 Jan 2024

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Asia Monthly - 2024 Asia Credit Outlook And 2023 In Review - Lucror Analytics

In our inaugural Asian Monthly for 2024, we discuss the regional credit outlook for the year, with a focus on China, India, Indonesia as well as...

Lucror Analytics

Weekly Wrap - 05 Jan 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics