Gojek and Tokopedia officially announced a merger today, with the merged company to be called GoTo. GoTo’s reach will be massive, with over 2m drivers, more than 11m merchants and over 100m MAUs, equivalent to c.2% of Indonesia’s GDP. The companies.....

1Q21 core net profit was THB1.19bn (-34.7% qoq; - 51% yoy) due to second Covid wave. We expect a gradual recovery in mall operations from 3Q21F onwards due to Covid-19 vaccine rollout and the government’s stimulus measures. We reiterate our Add ca....

Gojek and Tokopedia have finally announced a merger. The combination of Indonesia's two biggest tech firms will create an US$18 billion food delivery, ride-hailing and e-commerce group in the ASEAN region. The new entity will be called GoTo Group. A ...

Apr NODX growth decelerated to 6.0% yoy, well below our and market estimates, driven by a sequential decline of 8.8% mom SA. Non-electronic exports grew 4.7% yoy due to pharmaceuticals contracting 40.9% yoy Despite weaker IC export growth in Apr, we....

Retail sales soar on demand recovery and solid real wage growth, though result also amplified by low base effect. Fixed capital investment growth moderates, construction and agriculture stable. Expected epidemiological stabilisation to boost performa...

Weekday curfews relaxed to between 9 p.m. and 5 a.m., weekend curfews maintained. Shopping malls, retail shops, village bazaars, hairdressers to open on weekdays. Intercity travel ban lifted, ban on sit-ins for cafes, restaurants maintained. In-perso...