*CREDIT SUISSE : INDONESIA MARKET STRATEGY*
*New report: Indonesia Election 2019 (17 April) – Summary Info Pack: What you need to know*
• On 17 April, Wednesday, Indonesians will be voting for Indonesia’s 2019-24 leadership. We provide within this note, the timeline which we believe is of importance.
• We further highlight to watch for the House of Representative (DPR) election conclusion as a substantial change in party seats may happen, given changes in seats allocation methodology and a higher minimum threshold.
• Timeline 17 April – when can we know the results? (1) voting starts at 7.00 AM Jakarta Time (GMT + 7) and will end at 13.00 PM; (2) Votes' Quick Count will be done by 33 institutions and will start at 15.00 PM; (3) By 16.00-18.00 PM, it is likely that Quick Count will reveal if there is a clear presidential winner (assuming a wide enough margin between the candidates).
• We are reiterating our 13% market earnings growth and index multiple target of 6,900 based on target forward P/E of 15.1x (par with average). *CS Indo top picks: HMSP/UNTR/ASII/BMRI/TLKM/ ACES/EXCL/BTPS.*
*(15/04/2019)*
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