Category: Industries

Indofood CBP: 2018 Results & Outlook

Indofood CBP Sukses Makmur (ICBP), subsidiary of Salim Group’s Indofood Sukses Makmur (INDF), is currently among the largest companies listed on Indonesia Stock Exchange (IDX) with market value of Rp121 trillion or around US$8.6 billion. This Company, market leader for instant noodles, booked net profit of Rp4.58 trillion last year, an increase of 20.5% from 2017. 

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Further Consolidation of Cement Industry

PT Indocement Tunggal Prakarsa (INTP) Tbk, the second largest cement player, booked net profit of Rp1.15 trillion last year, dropped 38% from 2017 due to squeezed margins. The Company generated sales revenues of Rp15.2 trillion last year, an increase of 5.26% from 2017, while operating profit declined by nearly 43% to Rp1.07 trillion.

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Bright Spot of the Economy: Mineral Processing

In a relatively short period of time, Hengjaya Nickel Project, co-owned by ASX-listed Nickel Mines Ltd and Shanghai Decent (member of Tsingshan Steel Group), has started production of nickel pig iron (NPI) in the Indonesia Morowali Industrial Park (IMIP), Central Sulawesi province. Nickel Mines Ltd informed ASX this week that the second kiln has been commissioned and has produced its first NPI.

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Corporate Results

Coal miner Mitrabara Adiperdana (MBAP) booked a net profit of US$50.3 million in 2018, declined 13.8% from US$58.6 million in 2017. Sales reached US$258 million, flat growth year on year (y/y) while the cost of sales rose 9.8% to Rp157 million from earlier US$143 million. The gross profit fell 12% to US$101 million. Operating profit also declined by 14% to US$67.3 million from US$78.6 million.

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FY18 Results: Phapros & Moratelindo

Pharmaceutical firm Phapros (PEHA) booked profit attributable to owner of Rp132.3 billion in 2018, grew 5.6% from Rp125.2 billion in 2017. Net sales inched up 2% to Rp1.02 trillion, and the cost of goods sold rose 6.8% to Rp440 billion. The Company also recorded higher general and administrative expenses (Rp120 billion), and higher finance charges (Rp40 billion). It also booked other income of Rp30 billion.

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Infrastructure & New Developments

Jakartans have shown their high enthusiasm in riding the first Mass-Rapid Transit (MRT) in the country. Tickets for free ride in two weeks of trial operation starting Tuesday (Mar 12) have all been taken. Some have decided to reduce driving cars and moving to the modern mass transportation, which will have huge impact to the economy in the long-run. 

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FY18 Results: ROTI & ANJT

Bread maker Nippon Indosari Corpindo (ROTI) booked profit attributable to equity of Rp172.7 billion in 2018 (it grew 27 from Rp135.3 billion in 2017) supported by other comprehensive income (Rp9 billion against loss Rp10.9 billion in 2017).

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Salim’s Big Cut Loss in Goodman Fielder

Wilmar International Ltd announced Monday (Mar 11) that it has entered into a share purchase agreement to acquire 50% shares in FPW Singapore Holdings Pte Ltd from Oceanica Developments Ltd, an indirect subsidiary of Salim Group’s First Pacific Co Ltd for a cash consideration of US$180 million. 

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An Energized Manufacturing Industry (3)

Minister of industry Airlangga Hartarto, minister of energy & mineral resources Ignasius Jonan, and minister of state-owned enterprises Rini Soemarno attended the launching of Bukit Asam Coal-Based Special Economic Zone (BACBSEZ) in Tanjung Enim Regency, South Sumatra province Sunday (March 3rd). 

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Soft Touch Regulation?

The Ministry of Communications and Informatics (Kominfo) have been organizing a regular talk series called Forum Merdeka Barat 9 (FMB9). They invite high profile speakers to talk about a particular topic or question. On Tuesday, Feb. 26, the panelists of FMB9 tried to answer the question, “Who Are Unicorns For?” In the panel was the Minister of Kominfo Rudiantara, the Chairman of the Financial Services Authority (OJK) Wimboh Santoso, and the Chairman of the Investment Coordinating Board Thomas Trikasih Lembong (Tom).

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Expectations from Improved Connectivity

Regardless of what might come after April 17 election, the elected President should be better positioned to advance further Indonesia’s development because major infrastructures have mostly been completed. People and industrial areas in the greater Jakarta, West Java, and Banten province should be better served with the scheduled completion of Jakarta-Cikampek elevated toll road, which is key to the trans-Java toll road.

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An Energized Manufacturing Industry (2)

State-owned ammonia and fertilizer producer PT Pupuk Iskandar Muda (PIM), subsidiary of PT Pupuk Indonesia (Holding), has completed acquisition of PT Asean Aceh Fertilizer (AAF) late last year. Following completion of the acquisition, PIM plans to revise some manufacturing assets left dormant for more than one decade due to limited natural gas supply.

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