• Economy: Dec inflation was recorded at 0.44%
The Central Statistics Agency (BPS) noted that inflation in December 2024 was 0.44% mom,
higher than the previous month’s inflation which was recorded at 0.3% mom and compared
to Dec 23 which was recorded at 0.41% mom. Based on expenditure groups, Dec inflation was
driven by the food, beverage, and tobacco groups with inflation of 1.33% and a contribution
of 0.38% to general inflation. Based on the components, the Dec inflation rate was mainly
driven by the volatile component with inflation of 2.04% and a share of 0.33%. The dominant
commodities that drive inflation in this component are pure chicken eggs, red chilies,
cayenne peppers, shallots, and garlic. Meanwhile, the core component recorded inflation of
0.17% with a contribution of 0.11%, mainly driven by cooking oil, gold jewelry, and coffee.
Meanwhile, the price component regulated by the government recorded inflation of 0.03%,
with an insignificant contribution. With these developments, 2024 inflation was recorded at
1.57% yoy, the lowest in history. This figure is also at the lower limit of the FY24 inflation target
of 1.5 – 3.5%. (Kontan)
• ERAL will enter into the electric car business
Sinar Eka Selaras (ERAL) said that its subsidiary, Era Innovation Otomotif (EIO), had obtained
a distribution contract with an electric car manufacturer from China, Shenzhen Xiaopeng
Motors Supply Chain Management and Guangzhou’s Xiaopeng Motors Trading. In this
agreement, XPENG is committed to collaborating with EIO as an official partner to build a
wide distribution network for electric vehicle products for XPENG in Indonesia. The electric
vehicle market in Indonesia itself has developed rapidly, driven by the government’s target
of reaching 2M electric cars and 31,000 charging stations (SPKLU) by 2030. The government
also provides incentives through tax reductions for purchasing electric cars and encouraging
local assembly processes. XPENG’s entry into Indonesia is in line with this momentum. (Bisnis
Indonesia)
• RAJA will raise IDR 405.9B from its divestment in RATU
Rukun Raharja (RAJA) will get IDR 405.9B from the divestment of 352.95M shares of Raharja
Energi Cepu (RATU) at the price level of IDR 1,150 per share. The divestment was carried out
through RATU’s IPO scheme which will take place from 2-6 Jan 25. The company’s target is
to be listed in the IDX on 8 Jan 25. RATU offers 543.01M shares in the IPO, including 190.05M
new shares and 352.95M shares sold by RAJA. RATU’s total IPO shares are equivalent to 20%
of the issued and fully paid-up capital in the company after the IPO. With an IPO price of IDR
1,150 per share, the total value of this IPO is IDR 624.46B. After divestment and IPO, RAJA’s
portion of share ownership in RATU will decrease from the previous 99.99% to 79.99%. Apart
from RAJA, RATU shares will also be owned by Rukun Prima Sarana amounting to 0.004%,
and the public 20%. RAJA President Director, Djauhar Maulidi, said that the funds obtained
from the IPO and the remaining capital expenditure would be used to support the
implementation of ongoing strategic projects including the completion of the Tanjung Batu-
Samarinda fuel pipeline construction project and the construction of gas compressor
facilities in South Sulawesi. Apart from that, RAJA also allocated funds to accelerate the
feasibility study for developing an LNG Terminal in Banten Province and an LNG Plant in
North Kalimantan & West Papua. The results of this feasibility study will be the basis for
decision-making to start construction on these projects in 2025 to 2026. (Kontan)
