In today’s briefing:
- Primer: Surya Pertiwi (SPTO IJ) – Nov 2025

Primer: Surya Pertiwi (SPTO IJ) – Nov 2025
- Dominant Market Leader with Strong Brand Equity: As the sole agent and exclusive distributor of TOTO products in Indonesia since 1978, Surya Pertiwi commands a leading position in the nation’s sanitary ware market, underpinned by the premium TOTO brand, which is synonymous with quality and reliability.
- Favorable Long-Term Industry Tailwinds: The company is well-positioned to capitalize on Indonesia’s positive demographic trends, including a growing middle class, rapid urbanization, and government-led infrastructure and housing initiatives, which are expected to drive sustained demand for sanitary and bathroom products.
- Attractive Shareholder Returns and Solid Financials: SPTO has a track record of consistent profitability and revenue growth, complemented by a generous dividend policy, offering investors a compelling combination of growth and income. The company’s high dividend yield is a key feature of its investment profile.
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