Day: August 26, 2022

Property developer Alam Sutera Realty (ASRI) booked profit attributable to owners of Rp218.5 billion in the first half (H1) of 2022, against loss of Rp248.1 billion in the corresponding period of 2021, as sales and revenues jumped 72.7% year on year (y/y) to 1.95 trillion. ASRI’s gross profit doubled to Rp1.09 trillion, while operating expenses fell 13.4% y/y to Rp889.9 billion.

The recent decision from Bank Indonesia to raise benchmark rates might slow down lending in the last quarter of the years, especially if the government will also raise fuel price. Banking lending or credit grew 10.5% year on year (y/y) in July 2022, after 10.4% growth in previous month, led by credit for working capital and consumption.

State coal miner Bukit Asam (PTBA) booked profit attributable to owners of Rp6.16 trillion in the first half (H1) of 2022, surged 246.14% year on year (y/y), as revenues jumped 79% y/y to Rp18.42 trillion. This should be a momentum to speed up its development projects, including supporting parent company MIND ID’s multi billion dollar projects.