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Strength
Nov-24 SSSG of 6.0% (Oct-24: 4.8%), with positive MoM performances across all regions, on the back of solid demand for home appliances, electrical goods, etc in the lead up to year-end festivities
Weakness
Ex-Java regions reported 11M24 SSSG of 11.3% (11M23: 12.7%); we believe the slowdown, attributed to high-base effect from pent-up demand in FY23, may lead to relatively moderate Dec-24F SSSG readings
Opportunity
We expect ex-Java markets to maintain their upbeat momentum, driven by holiday season; potential improvement in purchasing power among mid-to-high income segments should support sales going forward, allowing for further reversal from recent underperformance
Threat
Potential decline in commodity prices may adversely impact farmers’ incomes, posing risks to ACES’ ex-Java stores; import tax on Chinese products and potentially weaker 4Q results and beyond due to softer purchasing power caused by slower economic growth
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.
