[NH증권 亞 리포트]③ 인니법인, 누적 결손에 막힌 '신남방 거점'

NH Investment & Securities' Indonesia subsidiary faces profitability challenges despite 20% revenue growth in Q1, with accumulated losses of over $30 million persisting due to currency headwinds and market deterioration. Regulatory penalties suspending underwriting licenses and MSCI's market downgrade warnings add structural obstacles. This highlights the compounding risks emerging market operations face from FX volatility, geopolitical shocks, and regulatory shifts that can overshadow operational improvements.