Q1 Results: Retailers
PT Sumber Alfaria Trijaya Tbk (AMRT), operator of Alfamart convenience stores, booked net profit of Rp73 billion in the first quarter, an increase of 10.1% from the corresponding period of 2016. Unlike Hero Supermarket (HERO), which reported 7.7% decline in sales revenues, Alfamart enjoyed 12.2% growth to Rp13.76 trillion in the quarter.
Q1 Results: Media Companies
Media giants MNC Group and Emtek Group reported mixed results in the first quarter of 2017. Media Nusantara Citra (MNCN) posted 12.5% fall in net profit, while Surya Citra Media (SCMA) suffered from 16.6% fall in net profit. Elang Mahkota (EMTK), parent company of SCMA, reported strong sales revenue growth of 22%, while MNCN’s sister MNC Sky Vision suffered from 18.8% fall in sales revenues.
Closing the Gap: Gudang Garam vs HM Sampoerna
HM Sampoerna (HMSP), controlled by Phillip Morris International, is still the largest company listed on Indonesia Stock Exchange (IDX) with market capitalization of Rp444 trillion. HMSP is also leader in the cigarette market, while second largest Gudang Garam (GGRM) has market cap of Rp128 trillion only.
A More Aggressive Jasa Marga
Shares of state-owned toll road developer and operator PT Jasa Marga Tbk (JSMR) gained 3.6% Thursday (Apr 27) as investors responded positively the Company’s performance in the first quarter, when its net profit jumped 34% to Rp547 billion, while sales revenues soared by 72.2% to almost Rp5 trillion.
Those Continue to Expand Here
President Joko ‘Jokowi’ Widodo has inaugurated new car manufacturing facility of PT Mitsubishi Motors Krama Yudha Indonesia (MMKI) at GIIC Industrial Estate, Bekasi, West Java yesterday. Built with 60 billion yen of capital, the new plant has a production capacity of 160,000 units per annum.
Anies-Sandi & Their Heavy Luggage (3): Alcohol Game
Anies Baswedan and Sandiaga Uno, winner of Jakarta election, plan to start their term in October 2017 with divestment of the city administration’s shares in beer producer PT Delta Djakarta Tbk (DLTA). This clearly an opportunity to those have long targeted ownership in Delta Djakarta, a very profitable company with net profit of Rp254 billion last year, jumped by 33.2% from 2015.
Trans-Java & Trans-Sumatra Toll Roads So Far (2)
Not all smooth, of course. Toll road projects in big cities like Jakarta and Bandung continued to confront the classic land acquisition issues. Commercial operation of Bekasi-Cawang-Kampung Melayu (21 KM) toll road in the greater Jakarta area, for example, is behind initial schedule set by President Jokowi (March 2017). The first section (8KM), however, should be ready for commercial operation in the coming weeks after 22 years of delay.
Trans-Java & Trans-Sumatra Toll Roads So Far
Losing key ally in Jakarta triggered some to speculate about Jokowi’s chance in 2019 election. But, even if he won’t be reelected, the President will be remembered for his aggressive push in the development of toll roads in Java, Sumatra, Kalimantan, and Sulawesi. Legacy is not about how long someone in strategic position, but something handed down from one generation to the next.
Strong Q1 for Astra
Astra International (ASII) reported a strong first quarter 2017. Its net profit jumped 63.5% to Rp5.09 trillion as sales revenues increased by 16.5% from the corresponding period last year. With the exception of IT and infrastructure & logistics, other business segments reported strong growth in the period.
Infrastructure Journal No. 15/2017
After more than four decades of delay, physical construction of Umbulan water pipeline in East Java has finally been started last week. Construction is scheduled for completion in two years time with total investment of Rp2.3 trillion. In the meantime, the government has geared up development of Section W2 (6KM) connecting the newly inaugurated Tanjung Priok Port access toll road and the inner city toll road.