Moody's Ratings (Moody's) has today affirmed Perusahaan Gas Negara Tbk (P.T.)'s (PGN) Baa2 issuer rating and baa2 baseline credit assessment (BCA). At the same time, the outlook on the rating was revised to negative from stable. The rating action follows the affirmation of the Government of Indone...
Strategy | Potential LNG Infrastructure Investment Boom Indonesia is structurally shifting from pipeline gas to LNG due to declining legacy gas fields in Java and Sumatra and limited pipeline infrastructure. This shift is reinforced by power-sector decarbonisation and PLN’s capacity expansion, driving multi-year LNG demand and infrastructure investment. LNG-related stocks have rallied about 113% over the past three months. GTS Internasional (GTSI, Not Rated) remains the only pure-play LNG logist...
Economics | The 2025 Budget Realisation: A Deficit Beyond Targets, Stability Amid Spending The 2025 deficit widened to 2.92% of GDP, driven by a tax shortfall, though strong non-tax revenue provided an offset. Spending underperformed overall but showed a clear priority for social and capital projects. Markets remained stable due to the central bank’s intervention. For 2026, while the government targets a 2.7% of GDP deficit, we forecast a more realistic 2.8-3.0% gap. Financing will remain substa...
Indonesia’s 10-year government bond yield has fallen to 6.3% and could ease further to 6.1% by end-25, narrowing the yield gap with equities. Around 19 JCI stocks offer dividend yields above bond yields, led by SOE banks (>8%) and selected consumers and commodities (filtered by decent liquidity). However, we think HMSP and UNVR are dividend traps, while cyclical resource dividend yields carry risks and rewards that highly depend on the commodity price cycle. Top dividend picks: BBNI and AKRA.
Oil prices have increased 14% over the past two weeks to US$71.30/barrel currently with a rising number of market participants and increasing oil long positions. However, UOB GEMR maintains a cautious stance and refrains from making any knee-jerk adjustments to its Brent oil forecast, with prices projected to remain at US$65/barrel in 3Q25 and US$60/barrel in 4Q25. That said, we highlight several stocks that could benefit if the rise in oil prices is sustained.
PGAS targets a 2025 gas trading volume of 873-917 BBTUD (+2-8% yoy), driven by rising demand from key industrial zones, while declining supply from the Corridor Block increases reliance on domestically sourced regasified LNG. The company expects its blended distribution margin to stabilise at US$1.6-1.8/MMBTU. PGAS trades at a 25.6% discount to domestic peers and offers a dividend yield of 10.7% for 2025, based on consensus estimates.
Moody's Ratings (Moody's) has affirmed Perusahaan Gas Negara (P.T.)'s (PGN) Baa2 issuer rating and upgraded its Baseline Credit Assessment (BCA) to baa2 from baa3, and maintained the stable outlook. RATINGS RATIONALE "The upgrade of PGN's BCA reflects our expectations that its financial metrics ...
Seven Directors at Perusahaan Gas Negara Tbk PT bought/maiden bought 2,519,200 shares at 1,575.000IDR. The significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's dire...
Moody's Investors Service has affirmed Perusahaan Gas Negara (P.T.)'s (PGN) Baa2 issuer rating and Baa2 senior unsecured rating. The outlook remains stable. "The affirmation reflects PGN's solid financial metrics and robust liquidity, underpinned by its dominant market position in the country's ...
The independent financial analyst theScreener just lowered the general evaluation of PERUSAHAAN GAS NEGARA (ID), active in the Gas Distribution industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date December 21, 2021, the closing price was IDR 1,410....
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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