Asia / Indonesia

Indonesia

Group Research / February 01, 2020

Photo Credit - AFP

Indonesia
 20192020f2021f2022f
GDP growth, % YoY5.0-2.14.04.5
CPI inflation, % YoY2.82.02.22.8
 2Q213Q214Q211Q222Q22
Exchange rates, end of period14,60014500144001435014300
Policy interest rates, end of period3.503.503.503.503.50

Indonesia Industry Insights

Indonesia / Materials
Nickel: Brighter demand outlook

Nickel: Brighter demand outlook

April 12, 2021

We have revised up our nickel demand/supply forecasts on higher electric vehicle growth and ample projects in Indonesia. As such, we believe it is ti...

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Indonesia / Financials
Indonesia Banks: On the mend

Indonesia Banks: On the mend

April 01, 2021

We believe Indonesian banks are on the road to recovery after latest data showed loan growth improvement on a m-o-m basis.

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Indonesia / Real Estate
Indonesia Property: More support from the government

Indonesia Property: More support from the government

March 02, 2021

The Indonesian government’s latest move to reduce value-added tax for selected property transactions bodes well for the real estate sector.

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Indonesia Economics Insights

Indonesia / Fiscal,Monetary,GDP
Stacking up Indonesia’s policy stance against other EMs

Stacking up Indonesia’s policy stance against other EMs

February 09, 2021

The events of 2020 put significant strain on Indonesia’s fiscal and monetary policies.

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Indonesia / Economics & Strategy
Indonesia Outlook 2021: Beyond the pandemic

Indonesia Outlook 2021: Beyond the pandemic

November 30, 2020

Into 2021, the authorities will continue to balance the health crisis vs recovery needs until mass vaccination isachieved.\n.

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Indonesia / Fiscal, GDP
Indonesia: Fiscal and growth dynamics

Indonesia: Fiscal and growth dynamics

July 15, 2020

Indonesia’s fiscal dynamics look manageable at this juncture, but pandemic impact on growth.

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Indonesia Economics Daily

Indonesia / GDP
Indonesia: The economy bottoms

Indonesia: The economy bottoms

May 06, 2021

Indonesia’s GDP contracted by -0.7%yoy, in line with our forecast, vs -2.2% in 4Q20. But beyond the quirk of arithmetic base effect, the contra...

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Indonesia / Economics & Strategy
Turning cautious on Indonesian rates

Turning cautious on Indonesian rates

April 20, 2021

We are taking advantage of the recent pullback in Indonesia local currency government bond (IndoGB) yields to take off our bullish stance, and shift ...

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Indonesia / Interest Rate
IndoGB: Underappreciated

IndoGB: Underappreciated

March 10, 2021

Within the EM universe, we think IndoGB looks compelling especially with 10Y yields hovering close to 7%.

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Indonesia Equities

Indonesia / Equities
Indonesia Market: In need of catalysts

Indonesia Market: In need of catalysts

May 04, 2021

While the Indonesian market’s valuation is attractive, there are not many significant catalysts to support it in the near term. As such, we are...

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Indonesia / Equities
Indonesia Strategy: Take advantage of recent pullback

Indonesia Strategy: Take advantage of recent pullback

April 09, 2021

We believe there are selective buying opportunities in Indonesia, especially in the big cap or blue-chip space, after the Jakarta Composite Index&rsq...

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Indonesia / Equities
Indonesia Market: Improving but not out of the woods yet

Indonesia Market: Improving but not out of the woods yet

March 12, 2021

We are maintaining our 2021 base case Jakarta Composite Index target of 6,500 despite its recent rebound. Find out needs to change before we turn mor...

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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.

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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