PRESS RELEASE

Nicholas Levenstein & Co. Unveils Hidden Opportunities in Indonesia's Equity Market

Bali, Indonesia – March 18, 2025 – Nicholas Levenstein & Co. has released a comprehensive analysis highlighting undervalued "Ugly Duckling" stocks within Indonesia's equity market. Despite Indonesia's modest market capitalization of $0.76 trillion in 2024, the firm identifies significant investment opportunities that rival those in more developed markets. Download the 2023 report on https://levenstein.net/nldr-2023-indonesia-report.

Valuation Metrics Reveal Growth Potential

The firm's analysis indicates that the KOMPAS100 Index, representing Indonesia's most liquid stocks, has an average Price-to-Earnings (P/E) ratio of 16.714 and a Price-to-Book (P/B) ratio of 1.936. These figures are notably lower than the S&P 500's P/E ratio of 23.671 and P/B ratio of 4.336, suggesting potential for substantial growth in the Indonesian market.

Identified Undervalued Stocks

Nicholas Levenstein & Co. has spotlighted several undervalued stocks with robust fundamentals, including:

• Star Pacific (LPLI): Engaged in property and media investments.

• Paninvest (PNIN): Specializing in insurance and financial services.

• Agung Podomoro Land (APLN): Focused on real estate development.

• Media Nusantara Citra (MNCN): Operating in media and broadcasting.

• Alam Sutra Realty (ASRI): Involved in real estate development.

The analysis suggests that if these companies were listed in the U.S., their valuations could be significantly higher, underscoring the untapped potential within Indonesia's equity market.

Understanding the "Indonesia Tariff"

The firm addresses the valuation gap, referred to as the "Indonesia Tariff," attributing it to macroeconomic risks, investor perceptions, and operational inefficiencies. By tackling these challenges, Indonesian companies can unlock value and attract increased investment.

Upcoming Conference: Unlocking Indonesia's Potential

To further explore these opportunities, Nicholas Levenstein & Co. will host the 2025 Indonesian Equity Conference on May 12-13 at the Grand Hyatt in Nusa Dua, Bali. The event will feature discussions with business leaders, investors, and financial advisors, aiming to delve deeper into Indonesia's undervalued equities.

Conclusion: Capturing Indonesia's Growth Potential

Nicholas Levenstein & Co. emphasizes that Indonesia's market holds significant investment opportunities. By understanding the "Indonesia Tariff" and identifying undervalued stocks, investors can potentially achieve substantial returns as these "Ugly Ducklings" evolve into market leaders.

For more information on the conference and to access the full report, please visit https://levenstein.net/nldrpe.

About Nicholas Levenstein & Company

Nicholas Levenstein & Company is a leading financial services firm specializing in investment strategies and market analysis. With a commitment to identifying value and fostering investment opportunities, the firm provides high-quality research for sophisticated investors.

Learn More & Get Involved:

🌐 Read the 2023 Report: https://levenstein.net/nldr-2023-indonesia-report

📅 Conference Presentation Registration: https://levenstein.net/nldrpe

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