Country / Indonesia

Indonesia

Group Research / April 01, 2019

Photo Credit - AFP

Indonesia
 201620172018e2019f2020f
GDP growth, % YoY5.05.15.25.25.1
CPI inflation, % YoY3.53.83.23.23.4
 2Q193Q194Q191Q202Q20
Exchange rates, end of period14,12614,50014,40014,30014,200
Policy interest rates, end of period6.005.755.755.755.50
/aics/search.page[Akamai-Origin-Hop] = [2] [Accept] = [text/html,application/xhtml+xml,application/xml;q=0.9,*/*;q=0.8] [User-Agent] = [CCBot/2.0 (https://commoncrawl.org/faq/)] [Connection] = [close] [X-Forwarded-Host] = [www.dbs.com] [Host] = [runtime-prod-01-pwebdsgsmc.sgp.dbs.com:8343] [Accept-Encoding] = [gzip] [True-Client-IP] = [3.226.251.205] [Akamai-Origin-Request] = [1] [Via] = [1.1 v1-akamaitech.net(ghost) (AkamaiGHost), 1.1 akamai.net(ghost) (AkamaiGHost)] [X-Akamai-CONFIG-LOG-DETAIL] = [true] [Cache-Control] = [max-age=21600] [X-Forwarded-For] = [3.226.251.205, 184.25.96.220, 10.89.109.73] [Accept-Language] = [en-US,en;q=0.5] [X-Forwarded-Server] = [dbsweb-p00-grp.corp.dbs.com] templatedata/article/region/data/en/AIO/012016/19012016_indonesia.xml.xmlaics/regionIndonesiaIndonesia Industry InsightsInsightsIndustryView AllRead Morenotaligned47Normalisation of revenue growth for Indonesian poultry firms as chances of price hikes in FY19F remain remote.IndonesiaConsumer/iwov-resources/aics/images/AICS/AIO/en/072019/190723_insights_thumb_indonesia_poultry.jpg/aics/templatedata/article/generic/data/en/GR/072019/190723_insights_indonesia_poultry.xmlIndonesia Poultry: Potential overhang arising from WTO import rulingJuly 23, 2019Banks with higher proportion of time deposits and higher portion of fixed rate loans should benefit from Bank Indonesia rate cut. Our top picks are BBRI and BMRI.IndonesiaFinancials/iwov-resources/aics/images/AICS/AIO/en/072019/190719_insights_thumb_indonesian_banking.jpg/aics/templatedata/article/generic/data/en/GR/072019/190719_insights_indonesian_banking.xmlIndonesia Banking Sector: Tailwinds from rate cutJuly 19, 2019Indonesian government’s proactive stance in managing supply through its recent culling programme should reduce fluctuations and stabilise broiler prices.IndonesiaConsumer/iwov-resources/aics/images/AICS/AIO/en/072019/190715_insights_thumb_indonesian_poultry.jpg/aics/templatedata/article/generic/data/en/GR/072019/190715_insights_indonesian_poultry.xmlIndonesia Poultry: The dust has yet to settleJuly 15, 2019Indonesia Economics InsightsInsightsEconomicsView AllRead Morenotaligned19Indonesia recorded a stable growth of 5% in 2Q19, contrary to the downward growth trend elsewhere. Fiscal lever could sustain growth momentum at its potential at 5.0%.IndonesiaGrowth, Rates/iwov-resources/aics/images/AICS/AIO/en/082019/190816_insights_thumb_Indonesia_Surfacing_economic_weakness.jpg/aics/templatedata/article/generic/data/en/GR/082019/190816_insights_Indonesia_Surfacing_economic_weakness.xmlIndonesia: Surfacing economic weaknessAugust 16, 2019March trade balance recorded a surplus, marking two consecutive months of surplus.IndonesiaGDP/iwov-resources/aics/images/AICS/AIO/en/042019/190418_insights_thumb_pressure_eases_on_indonesias_trade_balance.jpg/aics/templatedata/article/generic/data/en/GR/042019/190418_insights_pressure_eases_on_Indonesias_trade_balance.xmlPressure eases on Indonesia’s trade balanceApril 18, 2019The Indonesian second presidential debate on energy, food, and infrastructure was held on 17 Feb 2019.IndonesiaGDP/iwov-resources/aics/images/AICS/AIO/en/022019/190220_insights_image_Indonesia_election_watch_food_energy_and_infrastrcture.jpg/aics/templatedata/article/generic/data/en/GR/022019/190220_insights_indonesia_election_watch_food_energy_and_infrastructure.xmlIndonesia election watch: energy, food, and infrastructureFebruary 20, 2019Indonesia Economics DailyEconomicsView AllRead Morenotaligned22Conditions are aligned for Bank Indonesia to embark on an easing cycle, with a cut likely to come as soon as Thursday. We think that BI could cut by 25bps in 2019 and 50bps in 2020.IndonesiaRates/iwov-resources/aics/images/AICS/AIO/en/072019/190717_insights_thumb_Indonesia_rate_cuts_in_the_horizon.jpg/aics/templatedata/article/generic/data/en/GR/072019/190717_insights_Indonesia_rate_cuts_in_the_horizon.xmlIndonesia : Rate cuts in the horizonJuly 17, 2019For second half of the year, household demand and government spending are likely to remain supportive, with a tighter policy regime to be a dampener at the margin.IndonesiaGDP/iwov-resources/aics/images/AICS/AIO/en/082018/180807_economics_thumb_indonesia_chart_book_consumption_trumps_weak_trade.jpg/aics/templatedata/article/generic/data/en/GR/082018/180807_economics_indonesia_chart_book_consumption_trumps_weak_trade.xmlIndonesia chart book – Consumption trumps weak tradeAugust 07, 2018Indonesia’s real GDP growth came in at 5.2% in 4Q17, just a tick above our expectation. Investment growth came in at a robust 7.3%, a positive sign for the outlook. We maintain our forecast at 5.3% and 5.4% for 2018 and 2019, respectively.IndonesiaGDP/iwov-resources/aics/images/AICS/AIO/en/022018/180205_economics_thumb_an_investment_led_gdp_growth.jpg/aics/templatedata/article/generic/data/en/GR/022018/180205_economics_an_investment_led_gdp_growth.xmlAn investment-led GDP growthFebruary 05, 2018Indonesia EquitiesInsightsEquitiesView AllRead Morenotaligned8The Indonesia equity market faced some headwinds in early August on back of the return of volatility.IndonesiaEquities/iwov-resources/aics/images/MODEL-PORT/201803/20180315_ZJ12N_240.jpg/aics/templatedata/article/generic/data/en/GR/000000/000000_insights_indonesia_model_portfolio.xmlIndonesia Equity PicksAugust 09, 2019S&P upgrade of Indonesia’s sovereign credit a potential upturn for foreign investments flows, although other external pressures still weigh heavy in the near term.IndonesiaEquities/iwov-resources/aics/images/AICS/AIO/en/062019/190613_strategy_thumb_indonesia_monthly.jpg/aics/templatedata/article/generic/data/en/GR/062019/190613_strategy_indonesia_monthly.xmlIndonesia Monthly Strategy: Pedalling against the tideJune 13, 2019Jokowi expected to emerge victorious based on preliminary quick vote counts, and is set to serve as Indonesia’s President for a second term.IndonesiaEquities/iwov-resources/aics/images/AICS/AIO/en/042019/190418_insights_thumb_strategy_indonesia.jpg/aics/templatedata/article/generic/data/en/GR/042019/190418_insights_strategy_indonesia.xmlMarket Strategy: Re-rating on Jokowi’s winApril 18, 2019Indonesia MarketsMarketsView AllRead Morenotaligned0

Disclaimers and Important Notices

The information herein is published by DBS Bank Ltd and PT Bank DBS Indonesia (collectively, the “DBS Group”). It is based on information obtained from sources believed to be reliable, but the Group does not make any representation or warranty, express or implied, as to its accuracy, completeness, timeliness or correctness for any particular purpose. Opinions expressed are subject to change without notice. Any recommendation contained herein does not have regard to the specific investment objectives, financial situation & the particular needs of any specific addressee. The information herein is published for the information of addressees only & is not to be taken in substitution for the exercise of judgement by addressees, who should obtain separate legal or financial advice. The Group, or any of its related companies or any individuals connected with the group accepts no liability for any direct, special, indirect, consequential, incidental damages or any other loss or damages of any kind arising from any use of the information herein (including any error, omission or misstatement herein, negligent or otherwise) or further communication thereof, even if the Group or any other person has been advised of the possibility thereof. The information herein is not to be construed as an offer or a solicitation of an offer to buy or sell any securities, futures, options or other financial instruments or to provide any investment advice or services. The Group & its associates, their directors, officers and/or employees may have positions or other interests in, & may effect transactions in securities mentioned herein & may also perform or seek to perform broking, investment banking & other banking or finan­cial services for these companies. The information herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Sources for all charts & tables are CEIC & Bloomberg unless otherwise specified.

DBS Bank Ltd., 12 Marina Blvd, Marina Bay Financial Center Tower 3, Singapore 018982. Tel: 65-6878-8888. Company Registration No. 196800306E.

PT Bank DBS Indonesia, DBS Bank Tower, 33rd floor, Ciputra World 1, Jalan Prof. Dr. Satrio Kav 3-5, Jakarta, 12940, Indonesia. Tel: 62-21-2988-4000. Company Registration No. 09.03.1.64.96422.