Category: Business

Shares of consumer goods giant Unilever Indonesia (UNVR) opened higher by 3% to Rp2,720 this morning even when the company reported flat growth in the first quarter of 2024. With market capitalisation of Rp103.4 trillion, Unilever is still among the most ‘valuable’ company on the Indonesia Stock Exchange (IDX).

Shares of PT Bank Rakyat Indonesia (BRI) Tbk (BBRI) opened substantially lower by 2.9% to Rp5,000 this morning as some investors responded negatively the company’s lacklustre performance in the first quarter.

Shares of data center service provider DCI Indonesia (DCII) gained 0.71% Rp35,500 per share on Tuesday (April 23), to make market capitalization of Rp84.62 trilion, while its peer, Mora Telematika Indonesia (MORA), declined 0.4% to Rp456, to make market capitalization of Rp10.78 trillion. 

ESSA Industries Indonesia (ESSA), formerly named Surya Esa Perkasa, a company co-owned by TP Rachmat (Triputra Group), Laroya Family, and Garibaldi ‘Boy’ Thohir, booked profit attributable to owners of US$10.2 million in the first quarter (Q1) of 2024, surged 233% year on year (y/y), helped by a 33.3% correction in cost of revenue (to US$46.7 million). 

Economic slowdown and falling purchasing power apply only for middle-to-income group. Major banks in the country continue to reap profits. PT Bank Central Asia (BCA) Tbk (BBCA), owned by Hartono Family, booked net profit of Rp12.9 trillion in the first quarter (Q1) of 2024, grew 11.7% year on year (y/y), as net interest income rose 7.1% y/y to Rp19.8 trillion and non interest income increased 6.8% y/y to Rp6.4 trillion. 

Indonesia booked trade surplus of US$4,47 billion in March 2024, a US$0.83 billion higher compared to previous month. In the first three months of 2024, however, trade surplus crashed by 40% to US$7.3 billion as export fell 7.25%, while import down only by 0.1%.

Shares of state telco firm Telkom Indonesia (TLKM) ended higher by 1.56% to Rp3,250 on Thursday (Apr 18) even when the company reported 5.8% decline in net profit due to squeezed operating margins. 

Elang Mahkota Teknologi (EMTK), or the Emtek Group, through its subsidiary PT Roket Cipta Sentosa (RCS) is carrying out the negotiation process for the takeover of Cardig Aero Services (CASS) for Rp872.76 billion value.