UOBKH: Indonesia Daily: Monday, April 16, 2018 (Update: BBRI)

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KEY HIGHLIGHTS

Update

Bank Rakyat Indonesia (BBRI IJ/HOLD/Rp3,550/Target: Rp3,500)

More reasonable valuation; upgrade to HOLD.

At A Glance

Corporate

Adhi Karya: To collaborate on toll-road projects worth Rp4.7t.

Astra Otoparts: Sets capex Rp800b in 2018.

Indika Energy: Requesting 7 years of tax holiday.

Economics

Credit Rating: Moody’s upgrades Indonesia’s ratings to Baa2.

Regards,
Indonesia Research
UOB Kay Hian Sekuritas | UOB Plaza, Thamrin Nine 36th Floor | Jl. MH Thamrin Kav 8 – 10 | Jakarta 10230
Tel: (6221) 2993 3888 | Fax: (6221) 2300326
Email: researchindonesia


id180416.pdf