Palm oil stocks, anyone?
Like coal, investors avoided holding shares in palm oil companies in the past few years, probably due to global concern on sustainable practices. As a result, shares of plantation companies listed on the Indonesia Stock Exchange (IDX) have been traded way below their intrinsic values.
Digital Banks: No exponential growth yet
Shares of Bank Jago (ARTO), member of GOTO, ended substantially higher by 5.8% to Rp2,570 last Friday (Jul 26) as investors responded seemingly strong performance in the first half. Net profit expanded by 23.4%, but actually not enough to justify the current valuation.
Amman Mineral in H1: Improved, but still overpriced
Shares of Amman Mineral International (AMMN) ended slightly higher by 1.08% to Rp11,650 last Friday (Jul 26) as some investors responded positively the company’s strong performance in the first half of 2024, where its net profit surged by 300% to US$475.3 million.
Waskita still in red
State-owned EPC firm Waskita Karya (WSKT), which has been tasked to develop some toll roads and implicated in series of corruption cases, reported net loss of Rp2.16 trillion in the first half of 2024 despite improvements in gross profit margins.
Revisiting Cinema XXI
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.
Bakrie’s VKTR: Weaker Performance, Overpriced
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.
Consumers in first half: Cigarette
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.
Consumers in the first half: Unilever
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.
Banks’ Hefty Profit & The Squeezed Middle Class
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.
Healthy first half for hospitals
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.