“BRIS: Profit Growth Moderates, But Supported by Robust Gold Business”
BRIS's net profit grew 9% YoY to IDR 5.57 trillion in 9M25, reaching 70% of our FY25F target (Annualized). This growth was supported by a 14% YoY growth in margin...
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“MIDI: Strong Performance Driven by Operational Efficiency”
MIDI booked revenue growth of 4% YoY to IDR14.69 trillion in 9M25. This growth was driven by increased sales in almost all business segments, except for the food segment, which...
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“BTPS: As expected, Asset Quality Improved in 9M25”
BTPS's net profit grew 27% YoY to IDR 968 billion in 9M25. This growth was in line with improvements in BTPS's asset quality, resulting in a 43% YoY decrease in...
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“PWON: Recurring Income Strengthens Profit Amid Residential Slowdown”
PWON's net profit grew 3.8% YoY to IDR 1.7 trillion in 9M25. This achievement was primarily driven by recurring income, which increased 7.7% YoY to IDR 3.8 trillion in 9M25...
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“TAPG: Short-Term Production Pressure, Fundamentals Intact”
TAPG posted a slightly softer performance in 3Q25 due to normalization in the CPO segment, which still contributes >80% of revenue. Although CPO ASP rose to IDR14,218/kg (+2.3% QoQ; +10.1%...
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“STAA: Solid Performance in 9M25, But Fully Valued”
STAA continued to deliver solid performance in 3Q25, supported by higher ASP across all segments and stronger contribution from its downstream operations. Revenue reached IDR2.97 trillion (+54.5% QoQ; +72.3% YoY),...
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“KLBF: Performance Aligned with Estimates, Maintain Buy Rating for KLBF”
KLBF booked revenue growth of 7.2% YoY to IDR25.98 trillion in 9M25. This growth was driven by increased sales in almost all of KLBF's business segments, except for the nutrition...
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“BBNI: Loan Growth Accelerates despite Margin Pressure”
BBNI's interest income grew 4.8% YoY (3.9% QoQ) to IDR 51.17 trillion in 9M25. The increase in interest expense, which was higher than interest income, put pressure on BBNI's interest...
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“BBCA: Maintains Profitability Amid Rising Provision Expenses”
BBCA's net profit grew 5.7% YoY to IDR 43.4 trillion in 9M25. This growth was in line with the increase in net interest income to IDR 63.9 trillion (+5.2% YoY)...
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