Reasons Why JP Morgan Chose PGAS, ADRO & ADMR as Foreign Investors Remain Cautious

Bisnis.com, JAKARTA — JP Morgan has highlighted shares of PT Perusahaan Gas Negara Tbk. (PGAS), also known as PGN, PT Alamtri Resources Indonesia Tbk. (ADRO), and PT Alamtri Minerals Indonesia Tbk. (ADMR) as top picks in the Indonesian energy and utilities sector, amid foreign investors’ cautious approach towards policy risks and capital outflows from the domestic market.

In a report titled “Indonesia Energy and Utilities”, JP Morgan analysts Arnanto Januri and Benny Kurniawan stated that, in general, foreign investors remain cautious towards Indonesia. This was revealed during a meeting between JP Morgan and investors during a recent marketing trip to Singapore.