Shares of Sumber Alfaria Trijaya (AMRT), operator of convenience stores Alfamart, ended flat at Rp2,900 on Monday (Mar 25) to make a market capitalisation of Rp120.4 trillion, 7.7x equity, which is one of the most expensive stocks in the market.
Read MorePresident-elect Prabowo Subianto attended the Ramadan gathering of his national campaign team (TKN) held at the Ritz Carlton Hotel on Monday (Mar. 25), in which he delivered an interesting speech. Prabowo’s speech in the event is worth highlighting because it might help us understand more about his relationship dynamics with the outgoing President Joko “Jokowi” Widodo.
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State telco firm Telekomunikasi Indonesia (TLMK), or Telkom, booked profit attributable to owners of Rp24.56 trillion in 2023, grew 18.3% year on year (y/y), as revenue rose 13% y/y to Rp149.2 trillion and operating profit rose 12% y/y to Rp44.4 trillion.
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Shares of Indofood Sukses Makmur (INDF), the largest food company in Indonesia owned by Salim Group, ended slightly higher by 0.39% to Ro6,450 on Monday (Mar 25) as investors digested financial results of the company. The last quoted price means INDF was traded with PE multiple 7 only, way below market average.
Read MoreIndofood CBP Sukses Makmur (ICBP), subsidiary of INDF, booked profit attributable to owners of Rp6.9 trillion in 2023, grew 50% y/y, jumped 112%, due to improved margins and falling finance costs (from Rp6.18 trillion to Rp2.02 trillion).
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