Beware Impairments in EM and Asia
The failure to use or the aggressive implementation of asset write downs in emerging markets and Asia will have far reaching implications for...
492 Views
IDX30/LQ45/IDX80 Index Rebalance: Plenty of Change with 4 Days to Trade
There are 2 constituent changes for the IDX30 Index, 5 for the LQ45 Index, and 7 for the IDX80 Index to be implemented at the close on 31 October....
857 Views
Jasa Marga (JSMR.IJ) - Attractive Valuation, But Further Re-Rating Hinges on Capex Execution.
Post-COVID earnings swings and low FCF-to-EBITDA conversion have led to valuation de-rating despite JSMR’s dominant market share.
468 Views
LQ45 Index Rebalance Preview (Apr 2025): Identifying Potential Index Changes
We have identified potential changes for the LQ45 Index in April. The potential adds have traded in line with the deletes. Historically, adds and...
888 Views
Jasa Marga (JSMR.IJ) Normalization of Revenue Growth...
We expect toll road revenue to grow by 9%/10% in FY25F/FY26F, driven by traffic growth of 1.6%/2.3% yoy, and fewer special tariff adjustments.
338 Views