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

Dayamitra Telekomunikasi PT / Equity Bottom-Up

<ul><li>Following an update by Mitratel yesterday, we reiterate our view that MTEL is well placed to outperform its peers in 2023</li><li>Moreover, we note the strong link between monetary policies and share price performance of tower companies, with a growing view that interest rates are peaking</li><li>Mitratel has the largest tower portfolio (36,439 units or ~33% of the tower market), with a strong platform to leverage new ICT infrastructure services and diversifying to non-towers (tower revenues now stand at 92%, non-towers at 8%)</li></ul><p><em>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.</em></p>

Following an update by Mitratel yesterday, we reiterate our view that MTEL is well placed to outperform its peers in 2023Moreover, we note the strong link between monetary policies and share price performance of tower companies, with a growing view that interest rates are peakingMitratel has the largest tower portfolio (36,439 units or ~33% of the tower market), with a strong platform to leverage new ICT infrastructure services and diversifying to non-towers (tower revenues now stand at 92%, non-towers at 8%)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.

Mitratel (MTEL IJ) - Comparative Advantage for MTEL in Ex–Java

Cross Asset Strategy

<ul><li>Strategy: Macro and Flows Tracker - Currency Strength Boosts Flows</li><li>Cigarette: Waiting for change (OVERWEIGHT)</li><li>Cement sales volume March 2023: Monthly volume improved, higher market share for SMGR</li></ul><p><em>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.</em></p>

Strategy: Macro and Flows Tracker - Currency Strength Boosts FlowsCigarette: Waiting for change (OVERWEIGHT)Cement sales volume March 2023: Monthly volume improved, higher market share for SMGRContent 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.

<ul><li>Indofood CBP Sukses Makmur: Margins improvement on the cards (ICBP.IJ IDR 10,125 BUY.TP IDR 12,400)</li><li>2023 should be another good year for consumer companies including ICBP as we expect back-to-normal activities.</li><li>Indofood Sukses Makmur: A value proxy for ICBP (INDF.IJ IDR 6,275 BUY.TP IDR 7,600)</li></ul><div><div><div id="ember2434"><div><div><div><div><div><div id="ember4187"><div><div><div><div><div><div id="ember2532"><div><div><p><em>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.</em></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div>

Indofood CBP Sukses Makmur: Margins improvement on the cards (ICBP.IJ IDR 10,125 BUY.TP IDR 12,400)2023 should be another good year for consumer companies including ICBP as we expect back-to-normal activities.Indofood Sukses Makmur: A value proxy for ICBP (INDF.IJ IDR 6,275 BUY.TP IDR 7,600)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.

Indonesia

PT Dayamitra Telekomunikasi operates as an infrastructure construction company. The Company constructs telecommunications towers. Dayamitra Telekomunikasi serves customers in Indonesia.

Dayamitra Telekomunikasi PT (MTEL IJ)

Mitratel (MTEL IJ) - Comparative Advantage for MTEL in Ex–Java

Following an update by Mitratel yesterday, we reiterate our view that MTEL is well placed to outperform its peers in 2023

BRI Danareksa Research

Equity Snapshot: April 17, 2023

See important disclosure at the back of this report bridanareksa sekuritas .co.idContent is external broker report sourced from online content...

BRI Danareksa Research

Equity Snapshot: April 06, 2023

Indofood CBP Sukses Makmur: Margins improvement on the cards (ICBP.IJ IDR 10,125 BUY.TP IDR 12,400). 2023 should be another good year for consumer...

BRI Danareksa Research