Elevator Pitch
I maintain my Neutral rating on Indonesia-listed telecommunications services company PT Indosat Tbk (OTCPK:PTITF) [ISAT:IJ].
Indosat's 2Q 2020 results were above expectations, largely due to labor cost savings resulting from organization rightsizing plans and a sharp increase in APRU with more 4G subscribers. However, Indosat's 2H 2020 outlook is less certain, as industry competition intensifies with Indonesia's mobile market leader launching a new unlimited data plan in end-July 2020. As such, I see a Neutral rating for Indosat as fair.
This is an update of my prior article on Indosat published