Portfolio update September 2025
A weak month for the portfolio, but with three deep dives published, plenty to think about.
Indonesia's leader auto maker at 6.1x P/E. Estimated reading time: 21 minutes
How the election of Prabowo Subianto will affect the Indonesian consumer. Estimated reading time: 15 minutes.
The return of tourists to Bali the last piece of the Multi Bintang puzzle. Estimated reading time: 17 minutes
Another country descending into authoritarianism. Estimated reading time: 8 minutes
Indonesia’s second-largest beer producer set to benefit from re-opening
Margin pressure from higher oil price, otherwise on track. Estimated reading time: 11 minutes
Indonesia’s leading sports retailer expects higher foot traffic post-COVID