11 May 2021
BSDE booked 1Q21 marketing sales of IDR2.5 trillion, or achieving 35% of the 2021 target. With this outstanding achievement, we see that it will be easier for BSDE to achieve the year’s marketing sales target. In addition, supported by the “Wish for Home” program, lower interest rate, and various government incentives in the property sector, we believe that BSDE will be able to improve its performance this year.
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10 May 2021
KLBF reported 1Q21 results in line with market expectation. Meanwhile, we view KLBF is still attractive for a long-term investment due to its solid financial position and solid business plans.
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7 May 2021
MIKA continued its V-shaped recovery with a 1Q21 Revenue of IDR 1,204 Bn (up 37.6% yoy) and Net Income of IDR 374 Bn (up 69.6% yoy). Increased capacity and patient volume for Covid-19 cases have steadily support MIKA’s performance since bottoming out in 2Q20. With the pandemic expected to be more controllable, new hospital openings both through self-developed constructions and acquisitions, are expected to sustain healthy performance growth.
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6 May 2021
TLKM booked a positive performance in 2020, where net profit grew by double digits at 11.5%. It was supported by revenue that grew 0.7% yoy and lower cost margin at 68.1%. Meanwhile, corporate action done by a subsidiary will continue the positive trend for TLKM. We are optimistic that both top and bottom line will be more solid in 2021.
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5 May 2021
The company faced a multitude of challenges in 2020 from Indonesia’s large-scale social restriction and curfew. However, MAPI showed strong quarterly improvement mainly driven by the recovery in SSSG and domestic sales. In our view, MAPI is still in the midst of recovery, but successfully recording net profit in 4Q20, after booking two consecutive quarterly net losses.
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