Menu
Strength
The shift in consumer behavior from being incentive-oriented to function-inclined (shown by historical trends) will help improve tech players’ profitability, bringing take rate to 3.08% in 2025 (+17.5 bps YoY) and retain contribution margins
Weakness
Earnings may remain in the red for the next two years, as weaker purchasing power is expected to hinder tech players from significantly cutting customer incentives and S&M expenses
Opportunity
Future expansion efforts and lower ‘cash burn’ rate should improve profitability; potential lower interest rates ahead may improve sentiment on the sector and help support share price performances
Threat
Lower customer incentives and S&M costs to dampen GTV and TPV growth, which could be exacerbated by weak purchasing power amid strong USD; eFisheries debacle could worsen sentiment on the sector resulting in continued market underperformance
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.
