Corporate Actions

State-owned miner Aneka Tambang (ANTM), subsidiary of state-owned mining giant INALUM, targets to add production capacity by 50% at its ferronickel project, the so-called Halmahera Timur (Haltim), by end of this year. FeNi Haltim will have production capacity of 13,500 tons of nickel (TNi) per annum, lifting ANTM’s total capacity to around 43,500 tons per annum.

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Weak Start for Retailers

Retailers started 2018 with a relative weak performance. With the exception of Alfamart, whose net profit jumped by nearly 65%, other retailers posted operating and net loss in the period. Indomaret, the largest operator of convenience stores, reported net loss, while Hero Supermarket remained in red.

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Alfamart, Smaller and Smaller Profit Margins

So, Alfamart (PT Sumber Alfaria Trijaya Tbk) booked net profit of Rp300.3 billion last year, crashed by 50% from 2016. That means net profit margin for 2017 was 0.49% from total sales revenue of Rp61.46 trillion. Sales revenue grew only by 9.5% last year, while marketing and distribution costs increased by nearly 16%.

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