Category: Market

Shares of Cinema XXI (CNMA), the largest operator in the country, ended lower by 1.8% to Rp216 on Thursday (Jul 26). That means the stock is still way below the initial public offering (IPO) price (Rp270) less than a year ago. 

PT VKTR Teknologi Mobilitas Tbk, a company controlled by Bakrie Group engaged in the electric vehicle business, reported substantially weaker performance in the first half of 2024, where both sales revenues and net profit dropped significantly.

Shares of PT HM Sampoerna Tbk (HMSP), a company controlled by Phillip Morris International, eroded 5.52% to Rp685 on Wednesday (Jul 25) as investors digested first half 2024 financial data. HM Sampoerna, once the largest company on the Indonesia Stock Exchange (IDX), has lost 87% its value since January 2018.

Shares of PT Unilever Indonesia (UNVR), the largest player in personal and home care market, slipped 0.37% to Rp2,720 yesterday (Wednesday 24), to the market capitalization of Rp103.76 trillion on weaker financial performance in the first half of 2024.

Bank Central Asia (BBCA) is the largest bank in private sector with 37 million customer accounts, most of whom are middle class people. It is also the largest company listed on the Indonesia Stock Exchange (IDX) with market capitalisation of Rp1,230 trillion or 5.1 times equity. 

Shares of Mitra Keluarga (MIKA), the largest hospital chain by market capitalisation, ended flat at Rp3,010 on Wednesday (Jul 24) despite reports about strong first half. Shares of Hermina Hospital (HEAL), in the meantime, ended slightly lower by 0.75% to Rp1,320. MIKA and HEAL are two of the priciest healthcare stocks.

Genting Plantations Bhd, one of the largest plantation companies in the region, mainly because of Indonesian operations in recent years, has entered into two conditional separate sale and purchase agreements (SPAs) for the proposed acquisition worth RM593 million for parcels of land in Indonesia.

Prabowo Subianto will only be sworn in president three months from now, but the current government have granted luxury gifts already. After appointment of commissioners in major state companies, Jokowi administration, in this case state-owned enterprises minister Erick Thohir, gave more.

Astra International (ASII), the largest automotive player for decades, used to be the largest company on the Indonesia Stock Exchange (IDX) by market capitalisation. The stock was last traded at Rp4,460 to make market capitalisation of Rp180.6 trillion, not even half of its peak in 2017.

The State Budget 2025, which accommodates some signature programs of president elect Prabowo Subianto, is drafted to maintain a prudent fiscal management by keeping budget deficit target below 3% of GDP. The debt ratio will also be maintained below 40% of GDP. While Prabowo’s economic team (led by nephew Tommy Djiwandono) dismissed plans to push to the limits set by the laws, Hashim Djojohadikusumo (who already presented himself the next ‘Luhut’) told international media outlets recently that his brother will do so.

Coordinating minister for maritime and investment affairs Luhut Binsar Pandjaitan said Indonesia has the second most expensive airfare price in the world behind Brazil. In a bid to reduce the price, a special task force will pay attention to cost per block hour (CBH) of airlines.