specialist investment partner


Trimegah Research Division is committed to delivering accurate and timely analysis of the equity & debt markets as well as economics, in order to fulfill the investment needs of our Retail and Institutional clients. Our primary aim is to provide a unique perspective on the developments of the capital markets, by marrying both the fundamental aspects of assets and its sentiment driven relations with its market prices. Penned in our periodicals and thematic reports, this unique perspective will be an important component in Trimegah’s value proposition to our stakeholders.



This report has been prepared by PT Trimegah Sekuritas Indonesia Tbk on behalf of itself and its affiliated companies and is provided for information purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of any offer to buy. This report has been produced independently and the forecasts, opinions and expectations contained herein are entirely those of Trimegah Sekuritas Indonesia Tbk.

While all reasonable care has been taken to ensure that information contained herein is not untrue or misleading at the time of publication, Trimegah Sekuritas Indonesia Tbk makes no representation as to its accuracy or completeness and it should not be relied upon as such. This report is provided solely for the information of clients of Trimegah Sekuritas Indonesia Tbk who are expected to make their own investment decisions without reliance on this report. Neither Trimegah Sekuritas Indonesia Tbk nor any officer or employee of Trimegah Sekuritas Indonesia Tbk accept any liability whatsoever for any direct or consequential loss arising from any use of this report or its contents. Trimegah Sekuritas Indonesia Tbk and/or persons connected with it may have acted upon or used the information herein contained, or the research or analysis on which it is based, before publication. Trimegah Sekuritas Indonesia Tbk may in future participate in an offering of the company’s equity securities.