• Economy: The government will increase VAT to 12% for luxury goods only
In the latest decision, the government decided to increase the value-added tax (VAT) rate to
12% only for luxury goods and services currently consumed by the upper class. Minister of
Finance, Sri Mulyani Indrawati, explained that the 12% VAT rate increase only applies to goods
that are currently subject to the luxury goods sales tax (PPnBM) rate as stated in Minister of
Finance Regulation (PMK) Number 15 of 2023. She also emphasized that all goods and
services that have been subject to 11% VAT will not experience any change in the VAT paid.
Furthermore, goods or services that have been free from VAT will also continue in 2025,
starting from basic foodstuffs, educational services, health services, social services, and
public transportation services to simple houses. (Kontan)
• INTP acquired 50% ownership in Samudra Harmoni Prakarsa
Indocement Tunggal Prakarsa (INTP) acquired 50% of the shares in Samudra Harmoni
Prakarsa. This corporate action was carried out by INTP through its subsidiary, Bahana
Indonor (BI). The company signed the Share Sale and Purchase Deed for 56,000 Samudra
Harmoni Prakarsa shares worth IDR 47.25B, which is equivalent to 50% of the issued and
paid-up capital. The parties involved in signing the contract were Lintas Armada Indonesia
and Hendy Williams as sellers, and Bahana Indonor as the buyer. The reason for the
transaction is in the context of cooperation in the management and operation of the MV
Harmoni 1 ship to transport clinker, coal, or other cargo. (Kontan)
• MTLA outlined plans and targets in FY25
Metropolitan Land (MTLA) outlined a number of business plans and targets for 2025. Director
of Metropolitan Land, Olivia Surodjo, said that MTLA will continue to plan to add a land bank
for the long-term sustainability of Metland’s business. In 2025, MTLA will also still develop
existing projects and will open the new Metland Kertajati project. This is because several
projects such as Metland Puri and Metland Tambun have finished. Several additional
commercial projects are also being prepared, one of which is the Grand Metropolitan
extension. Even though the company has not yet revealed its marketing sales target, it has
been stated that the company will continue to focus on selling residential assets. The
contribution of sales of fixed residential assets will be around 70% of overall revenue in 2025.
The remainder will come from recurring income assets, such as hotels, malls, and others.
(Kontan)
