INDOFOODS
Industry: Consumer goods
Defensiveness: Very defensive, noodles, pasta, drinks, agriculture
Accessible listing: Frankfurt
Concentration Risk: High: about 80-90% in Indonesia
Growth: Long term growth, especially now with the African Pinehill acquisition.
Link: indofood.com and https://www.indofoodcbp.com/
Quick note: There are two companies, with indofood owning 80% of cbp, which is focused on noodles and snacking only, while indofoods has also Agri, Pasta. Excellent perspectives for these companies in the long term.
ASTRA
Industry: Industrial holding (Automobile, Two wheelers, Mining Equipment, Finance, Infrastructure).
Defensiveness: Cyclical but defensive due to its market share and secular growth market
Accessible listing: Frankfurt
Concentration Risk: High: 100% Indonesia
Growth: Long term growth with equipment in Indonesia
Link: https://www.astra.co.id/
Quick note: Despite being cyclical, we can expect equipment rate in Indonesia to increase in the next decades and provide more earnings, as well as growing defensiveness of Astra with investments in Infrastructure and Tech,
DELFI
Industry: Chocolate Manufacturing
Defensiveness: Very defensive
Accessible listing: Singapore
Concentration Risk: High, most of the business is in Indonesia
Growth: Weak because it has been losing market share to western brands
Link: https://www.delfilimited.com/
Quick note: no opinion so far. Apparently they do not have the high end product and the best.