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.

Thematic (Sector/Industry)

<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.

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>Market: JCI rallied +2.5% w-w, in-line with majority of the EMs and the weaker DXY amid benign developments from the global trade tariffs.</li><li>Foreign investors remained net sellers, although outflows moderated to US$71mn, bringing YTD outflow to US$718mn.</li><li>Barring any surprises on the trade tariff front, we see that risk sentiment may remain supportive for flows into EM in the week ahead.</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.

Market: JCI rallied +2.5% w-w, in-line with majority of the EMs and the weaker DXY amid benign developments from the global trade tariffs.Foreign investors remained net sellers, although outflows moderated to US$71mn, bringing YTD outflow to US$718mn.Barring any surprises on the trade tariff front, we see that risk sentiment may remain supportive for flows into EM in the week ahead.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.

BRIDS Market Pulse: Chart of the week – NPI price

Macroeconomics

<ul><li>A combination of slight foreign funds outflow and local funds selling has driven a JCI correction of -0.8% wow.</li><li>Foreign funds flow returned to negative, albeit relatively lighter (at -US$169mn) compared to prior weeks.</li><li>The outflow was still dominated by the large-cap banks with coal stock AADI also among the top-5 stocks sold by foreign investors.</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.

A combination of slight foreign funds outflow and local funds selling has driven a JCI correction of -0.8% wow.Foreign funds flow returned to negative, albeit relatively lighter (at -US$169mn) compared to prior weeks.The outflow was still dominated by the large-cap banks with coal stock AADI also among the top-5 stocks sold by foreign investors.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.

BRIDS Market Pulse: Chart of the Week – China Coal Inventory at Port

<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

Equity Bottom-Up

Perusahaan Gas Negara Perser / Equity Bottom-Up

<ul><li>In 2Q24, PGAS booked a revenue of USD889.66 mn (-6.29% QoQ/+4.72% YoY) or accumulatively reached USD1.84 bn (+3.12% YoY) in 1H24.</li><li>This performance was relatively in line with our/consensus estimates with run rates of 49.15%/50.28%, respectively.</li><li>The QoQ softening was in line with the slowdowns of gas distribution volume to 841 BBTud (-1.98% QoQ/-9.76% YoY), flat QoQ/YoY gas transmission volume to 1,417 MMScfd, and lifting volume to 1.80 MMBOE (-14.29% QoQ/-10.00% YoY). </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.

In 2Q24, PGAS booked a revenue of USD889.66 mn (-6.29% QoQ/+4.72% YoY) or accumulatively reached USD1.84 bn (+3.12% YoY) in 1H24.This performance was relatively in line with our/consensus estimates with run rates of 49.15%/50.28%, respectively.The QoQ softening was in line with the slowdowns of gas distribution volume to 841 BBTud (-1.98% QoQ/-9.76% YoY), flat QoQ/YoY gas transmission volume to 1,417 MMScfd, and lifting volume to 1.80 MMBOE (-14.29% QoQ/-10.00% YoY). 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.

PGAS IJ - Solid Financial Performance Continues, While Gas Supply Remains The Crux

Indonesia

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

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Perusahaan Gas Negara Perser (PGAS 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

BRIDS Market Pulse: Chart of the week – NPI price

Market: JCI rallied +2.5% w-w, in-line with majority of the EMs and the weaker DXY amid benign developments from the global trade tariffs.

BRI Danareksa Research

BRIDS Market Pulse: Chart of the Week – China Coal Inventory at Port

The outflow was still dominated by the large-cap banks with coal stock AADI also among the top-5 stocks sold by foreign investors.

BRI Danareksa Research

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

PGAS IJ - Solid Financial Performance Continues, While Gas Supply Remains The Crux

In 2Q24, PGAS booked a revenue of USD889.66 mn (-6.29% QoQ/+4.72% YoY) or accumulatively reached USD1.84 bn (+3.12% YoY) in 1H24.

MNC Sekuritas

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