Indonesia
Delfi (DELFI SP) — 2025 update
Indonesia's largest chocolate producer, trading at sub-10x P/E if and when cocoa prices ever fall
Astra International (ASII IJ) － 2024 update
Indonesia's leader auto maker at 6.1x P/E. Estimated reading time: 21 minutes
Indonesia after Jokowi
How the election of Prabowo Subianto will affect the Indonesian consumer. Estimated reading time: 15 minutes.
Multi Bintang update (MLBI IJ)
The return of tourists to Bali the last piece of the Multi Bintang puzzle. Estimated reading time: 17 minutes
Indonesia's new criminal code threatens liberty
Another country descending into authoritarianism. Estimated reading time: 8 minutes
Deep-dive 2022-23: Delta Djakarta
Indonesia’s second-largest beer producer set to benefit from re-opening
Uni-Charm Indonesia mid-2022 update
Margin pressure from higher oil price, otherwise on track. Estimated reading time: 11 minutes
MAP Aktif Adiperkasa (MAPA IJ)
Indonesia’s leading sports retailer expects higher foot traffic post-COVID
Multi Bintang (MLBI IJ)
Multi Bintang (MLBI IJ) is Indonesia’s leading beer producer. The company started in 1929 as “Nederlandsch-Indische Bierbrouwerijen” back when Indonesia was a Dutch colony. Today, Multi Bintang has a market share of almost 60%. Its flagship beer “Bintang Bir” is by far the most popular brand in the sector.
Ultrajaya Milk (ULTJ IJ)
Ultrajaya Milk (ULTJ IJ) is the leading dairy company in Indonesia. Its most popular product “Ultra Milk” has a market share of roughly 40% and dominates the mass market. The company focuses on “UHT milk”. Such milk has been treated with ultra-high temperatures and stored in aseptic packaging, giving it