In today’s briefing:
- IDX30/LQ45/IDX80 Index Rebalance: Few Changes
- Aspirasi Hidup Indonesia (ACES IJ) – Growing AZKO Stores and Private Label
IDX30/LQ45/IDX80 Index Rebalance: Few Changes
- There is 1 constituent change for the IDX30 Index and 2 changes for the IDX80 Index to be implemented at the close on 30 April.
- The largest passive flows are expected in Bank Rakyat Indonesia, Bank Jago Tbk PT, Bank Mandiri Persero, Bank Tabungan Negara Persero, Adaro Energy and Bukalapak.com PT Tbk.
- There are only 4 days to implementation, so there could be relatively big moves on the changes to the IDX30 Index.
Aspirasi Hidup Indonesia (ACES IJ) – Growing AZKO Stores and Private Label
- Aspirasi Hidup Indonesia (ACES IJ) released a solid set of FY2024 results, with SSSG and headline coming in ahead of expectations, with the company expanding its stores by 20 outlets.
- The key concern from the results was the slower guidance for SSSG and sales for 2025, despite a more aggressive store rollout this year, especially outside Java.
- Aspirasi Hidup Indonesia continues to push the AZKO brand with higher promotional spend, offset by the lack of royalties to ACES US. Guidance looks conservative and valuations look attractive historically.
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