Healthcare: 3Q25 Preview: Hospitals Soft Vs. Consensus, Pharma Stable
Hospitals: 3Q25 patient vol. improved yoy from a low 3Q24 base; 9M25 in line with our (77%) but may miss cons (68%), HEAL & SILO drags.
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Equity Strategy: Oct25 Picks: Sticking with Banks, Commodities, Telco
We maintain our positive stance on Banks as we expect better liquidity condition to be reflected in Sep25 CoF, combined with attractive yield.
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Healthcare: 2Q25 Preview: Defensive Profile Intact Despite Growth Normalization
We also expect Pharma’s 1H25 earnings to be in-line with 54% run-rate, with KLBF’s intact cost-efficiency, potential quarterly rebound in SIDO.
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Consumer Sector Waiting for a Clearer Sign: Between Caution and Catalyst
This continued downtrend suggests that households remain wary of economic uncertainties, particularly with muted wage growth and rising cost of...
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The Week That Was in ASEAN@Smartkarma - CPALL, Arwana Citramulia, and Sido Muncul
The past week saw insights on CP ALL PCL (CPALL TB), Arwana Citramulia (ARNA IJ), Sido Muncul (SIDO IJ), and AvePoint (AVPT US)
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