Aldira Sunrise 18 September 2024

Economy: Trade balance surplus reaches USD 2.90B on Aug 24
The trade balance surplus reached US$ 2.90B on Aug 24, compared to USD 2.40B on Jul 24. It was supported by a surplus in non-oil and gas commodities, namely USD 4.34B, with the main contributor being mineral fuel (HS27), vegetable fats and oils (HS 15), as well as iron and steel (HS 72). Meanwhile, the oil and gas trade balance recorded a deficit of USD 1.44B, with the commodities contributing to the oil and gas trade balance deficit being oil and crude oil. Indonesia’s export value in August 2024 was recorded at USD 23.56B (+5.97% mom) while import value was at USD 20.67B (-4.93% mom). (Kontan)
GOTO establishes strategic partnership with Alibaba
Goto Gojek Tokopedia (GOTO) has entered into a strategic partnership with Alibaba. Through this collaboration, GOTO will utilize Alibaba Cloud technology for the next five years. Later, Alibaba Cloud will provide various cloud-related services, including cloud computing, cloud-based databases, networking, data security, and analytics to the GoTo Group. The GoTo cloud service will begin migrating to the Alibaba Cloud system on Oct 24. This partnership confirms Alibaba’s commitment as a long-term investor in GoTo by maintaining its share ownership. As of 31 Aug 24, Alibaba Group holds around 88.53B series A GoTo shares. (Kontan)
RAAM records net loss of IDR 98.37B in 1H24
Tripar Multivision Plus (RAAM) posted a net loss of IDR 98.37B in line with the decline in sales to IDR 121.66B in 1H24 (-21.45% yoy). The highest revenue contributor was films, which generated IDR 63.93B (+55.78% yoy, followed by ticket revenue of IDR 27.52B, digital revenue of IDR 18.37B, food and beverages of IDR 7.41B, and soap operas of IDR 4.41B (-92.58% yoy). (Bisnis Indonesia)