Salim Cement: Rocking the Boat

Semen Baturaja (SMBR), whose sales revenue in the first half of 2017 was only Rp627 billion, currently has market capitalization of Rp31.3 trillion. Holcim Indonesia (SMCB), which posted sales revenue of Rp4.3 trillion, seven times of Semen Baturaja, meanwhile, has market value of Rp6.05 trillion only. Something wrong there?

ICT Retail: Telkomsel Revives The Troubled Trikomsel

Before its downfall due to financial issues, ICT retailer Trikomsel generated sales revenues of Rp10.8 trillion in 2014 and Rp10.4 trillion in 2013. Back then, Telkomsel was among its major client for sales of reload vouchers. In 2014, Trikomsel purchased Rp2.34 trillion worth of products from Telkomsel, the bigges supplier.

Bright Spot of The Economy: Tourism Industry

Central Bureau of Statistics (BPS) recorded 1.13 million visits by foreign tourists in June 2017, jumped 31.61% year-on-year. Accordingly, number of visits grew 22.42% year-on-year to 6.48 million in the first half of 2017. It is already above the 10% growth target for the year. But, needs extra efforts to achieve a more ambitious target of 15 million visits this year.

Hary Tanoe’s MNCN and MSKY: Further Pressures

Media Nusantara Citra (MNCN) remains the largest TV media company in terms of sales revenues. In the first half of 2017, MNCN booked sales revenue of Rp3.63 trillion, inched up from Rp3.57 trillion in the corresponding period last year. Competitor Surya Citra Media (SCMA), however, booked significantly higher net profit in the period, thanks to stronger growth in the second quarter.

PE Firms’ Bet on Integrated Poultry Players

Shares of integrated poultry players listed on Indonesia Stock Exchange (IDX) lost ground this morning to respond upsetting second quarter revenues and bottom lines. Even market leader Charoen Pokphand (CPIN), the least affected, declined by 3.3% as its net profit fell 12% to Rp1.52 trillion in the first half.

Sinarmas Group & Creditors Dig Pocket Deeper for SmartFren

PT SmartFren Telecom Tbk, considered fifth largest telco player, booked net loss of Rp1.17 trillion in the first half of 2017, expanded from Rp667 billion in the corresponding period of 2016. The Company, controlled by Sinarmas Group, improved in the second quarter with net loss of Rp412 billion only, while sales revenues jumped 35% year-on-year to Rp1.12 trillion.

New Players Continue to Pressure Established Cement Producers

Semen Indonesia (SMGR), Indocement Tunggal Prakarsa (INTP), and Holcim Indonesia (SMCB) used to control Indonesian cement market. For decades, they enjoyed substantially high profit margins. In the past few years, however, new players took away more market share from them. In the first half 2017, Holcim even posted net loss of Rp435.9 billion, balooned from Rp51.4 billion in the corresponding period last year.

Blue Bird Flats in Q2, Margins Fall Further

Blue Bird (BIRD), market leader for conventional taxi service, recorded sales revenues of Rp2.08 trillion in the first half of 2017, down 15% from the corresponding period of 2016. Compared to the first quarter of 2017, Blue Bird was flat. Unfortunately that its operating profit margin dropped further.

PLN Financials & Electricity Reform (2)

State-owned electricity provider PT Perusahaan Listrik Negara (PLN) booked net profit of Rp2.25 trillion in the first half of 2017, crashed 71.8% from the corresponding period last year, despite substantial improvement in the second quarter. PLN, a company with total assets of nearly US$100 billion, reported sales revenue of Rp122.5 trillion in the first half, an increase of 12.7% from the same period last year.

First Half Results: Indofood CBP vs Mayora

Shares of Indofood CBP Sukses Makmur (ICBP), the consumer branded products subsidiary of Indofood, opened slightly lower to Rp8575 this morning, while competitor Mayora Indah (MYOR) fell sharply by 5%. In contrast to ICBP, which posted 5.7% growth in net profit to Rp2.09 trillion in the first half, Mayora suffered 7.3% decline to Rp548 billion.

error: Content is protected !!