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.

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.

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. 

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. 

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.

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. 

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. 

Shares of telco tower operator Dayamitra Telekomunikasi (MTEL), or Mitratel, owned by Telkom Group, gained 0.79% to Rp635 on Thursday (March 7), to make market capitalization of Rp53.06 trillion, but still way below target price set by some brokerage firms.

Shares of dairy producer Cisarua Mountain Dairy (CMRY), or Cimory, gained 4.51% to Rp4,400 on Thursday (March 7) to make a market capitalization of Rp34.91 trillion, seven times of equity as at December 31, 2023, one of the most ‘valuable’ companies listed on Indonesia Stock Exchange (IDX).