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Strength
Potential increases in ARPU on the back of softened competition stemming from industry consolidation may benefit the sector, making it healthier and shifting the focus to competing on network and service quality; FMC strategy may boost telecom companies’ revenues
Weakness
Due to the presence of various players, intense competition in fixed broadband (FBB) may slow revenue growth caused by potential price wars; slow growth from saturated number of mobile subscribers of 188mn (97% penetration rate) and SIM cards of 352mn
Opportunity
Potential incentive spectrum auctions present opportunities to cut cost, enhance network quality and increase number of subscribers; advanced technologies like Internet of Things (IoT) may drive demand for 5G and fiber-optics; switching to worse-performing counters may provide buying opportunities for investors
Threat
Lower-than-expected ARPU (current: IDR 41,000) due to potential downtrading; strong dollar spells bad news for industry’s capex; high regulatory charges (spectrum annual fee, USO); potential less interest rate cuts in 2025 by The Fed and BI may keep interest expenses high for leveraged counters like ISAT and EXCL
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
