Category: Market
Reality Check on Barito Renewables
Shares of Barito Renewables (BREN), controlled by tycoon Prajogo Pangestu, opened lower by 1% to Rp5,100 this morning as investors digesting bottomline performance of the company last year. Minutes into trading, however, the stock regained grounds 2% to make a market capitalisation of Rp705.7 trillion, third largest on IDX behind BCA and BRI.
Read MoreHuge Loss of Saratoga
Investment firm Saratoga Investama Sedaya (SRTG), co-owned by Sandiaga Salahuddin Uno (minister of tourism and politician from Islamic party PPP) and Edwin Soeryadjaya, suffered loss of Rp10.1 trillion in 2023, against profit of Rp4.6 trillion in 2022, as it recorded Rp13.8 trillion loss on investment in shares and other securities.Â
Read MoreFY23 Results: Farida Bau’s Entities
Telco infrastructure firms PT Mora Telematika Indonesia, or Moratelindo (MORA) and PT Bali Towerindo Sentra (BALI), two of companies listed on IDX that owned by underreported business person Farida Bau, reported a flat profit and lower profit last year.
Read MoreBracing for further slowdown in export
Indonesia booked trade surplus of US$867 million last month, a free fall from US$5.4 billion in February 2023 as export declined 9.45%, while import surged by 15.8%. The import side might be one-off due to substantial increase in import of cereals (rice) by 54% in the month, but there were alarming signs in the export side.
Read MoreSqueezed margins at BSD City
Shares of BSD City (BSDE), one of the largest property developers in Indonesia controlled by Sinarmas Group (Widjaja Family), ended slightly lower by 0.5% to Rp1,015 on Thursday (Mar 14) as some investors responded negatively the company’s financial performance last year.
Read MoreM&A Update
Multifinance firm Adira Dinamika Multi Finance (ADMF) or Adira Finance, a subsidiary of Bank Danamon (BDMN) announced that it had purchased 10% of the shares in Mandala Multifinance (MFIN) or Mandala Finance for Rp873.7 billion value.
Read MoreBakrie’s operations improved, but…
Bakrie & Brothers (BNBR) booked profit attributable to owners of Rp264.46 billion in 2023, declined 10.9% year on year (y/y) due to a drop in gain on divestment of shares and investments. In general, operations of the company improved with revenue growth of 3.87% y/y to Rp3.75 trillion, while operating profit also grew 50% y/y to Rp348.3 billion in 2023.Â
Read MoreCorporations to Watch: Vale & Harita Nickel
Shares of nickel producer Vale Indonesia (INCO) gained significantly by 7.8% to Rp4,300 on Wednesday (Mar 13) just when the company announced a plan to issue 603.44 million new shares as part of the mandatory divestment of 14% Vale shares to MIND ID.Â
Read MoreMixed results from DOID and PGAS
Mining contractor Delta Dunia Makmur (DOID) booked net profit of US$36 million in 2023, grew 28.6% year on year (y/y), as revenue rose 20% y/y to US$1.83 billion. The Company however reported higher cost of revenue and higher operating expenses and finance cost, limiting the growth in the bottom line.
Read MoreRevisiting Cinema XXI
Shares of Nusantara Sejahtera Raya (CNMA), the largest cinema network operator in Indonesia with its popular Cinema XXI brand, fell 3.25% to Rp238 on Friday last week (March 8), even though the Company reported a 47% rise year on year (y/y) in profit, also a 19% rise in revenue for 2023. At the last quoted price, CNMA was valued at Rp19.83 trillion, reflecting PE multiple 39.93.
Read MoreA weaker 2023 from Triputra Agro
Like peers, plantation firm Triputra Agro Persada (TAPG), controlled by the family of tycoon TP Rachmat (shareholder of Adaro Energy/ADRO), booked profit attributable to owners of Rp1.61 trillion in 2023, fell 46% year on year (y/y) as operating profit dropped 54.8% y/y to Rp1.37 trillion.Â
Read MoreWeaker FY/23 Results of Semen Indonesia
Shares of state cement maker Semen Indonesia (SMGR) ended lower 0.42% to Rp5,900 as investors responded negatively the company’s performance in 2023. At the latest quoted price, SMGR was valued at Rp39.9 trillion, way below equity (Rp47.8 trillion as of December 30, 2023) and traded with PE multiple 15.82.Â
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