In today’s briefing:
- PT Metrodata Electronics (MTDL IJ) – Cybersecurity and AI to Be Future Drivers
- AKR Corporindo (AKRA IJ) – A New Chapter Begins
- Bank Central Asia (BBCA IJ) – Thriving Through Transactions
- Lucror Analytics – Morning Views Asia
PT Metrodata Electronics (MTDL IJ) – Cybersecurity and AI to Be Future Drivers
- PT Metrodata Electronics finished FY2024 on a high note, booking a record net profit, driven by growth in its ICT distribution business and increased profitability in Solutions & Consulting.
- The distribution segment was driven by rapid growth from telco products, especially the Infinix brand, as well as networking and storage hardware for the corporate segment.
- Solutions&Consulting saw strong performance from financial services, and with 52% of revenues coming from recurrent income from areas like cloud services and software. AI and Cybersecurity are becoming key drivers.
AKR Corporindo (AKRA IJ) – A New Chapter Begins
- AKR Corporindo (AKRA IJ) released a solid set of results driven by its trading & distribution segment, retail gas stations, and very strong utilities earnings from its JIIPE industrial estate.
- The company booked a record gross profit despite a lack of land sales in 1Q2025, but it remains positive on the outlook with 20 hectares to be booked in 2Q2025.
- AKRA is also upbeat on prospects for trading & distribution and utility earnings this year as anchor tenants ramp up production at JIIPE. Valuations remain compelling.
Bank Central Asia (BBCA IJ) – Thriving Through Transactions
- Bank Central Asia booked a strong set of numbers in 1Q2025, driven by strong loan growth and healthy growth in CASA and despite an increase in provisions.
- The bank booked loan growth across its key segments, with corporate, SME, and consumer lending driving growth, with its transactional banking continuing to grow as it expands its customer base.
- Bank Central Asia‘s digital offerings continue to be a core driver for both business and consumer banking, as well as for onboarding new customers. Valuations are attractive versus history.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Medco Energi, Greenko Energy, Vedanta Resources, Reliance Industries
- Last Friday, US Treasuries tightened by 5-8 bps across the curve. US equities continued to recover, albeit at a slow pace, with the S&P 500 up by 0.7% and Nasdaq rising 1.3%.
- The US economy is projected to register a weak 0.4% annualised growth rate in Q1/25, according to the US government’s initial estimate, with a large trade deficit and consumer fatigue contributing to the slowdown, even before the tariff-related upheaval.
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