• ADHI allocates IDR 1.6T capex FY25
Adhi Karya (ADHI) has budgeted a capital expenditure of IDR 1.6T in 2025, which will be used
for capital participation and the purchase of Fixed Assets. In 2025, ADHI also has 105 ongoing
projects. Of the total projects being worked on, the majority are engineering & construction
projects, which is 91%, then followed by property & hospitality projects of 4%, manufacturing
of 4%, and investment & concession of 1%. In 2024, ADHI posted a net profit of IDR 252.49B
(+17.98% yoy) despite revenue dropping 33.48% yoy to IDR 13.35T. Business revenue (non-joint
operation/NJO) decreased, due to the shift in contract acquisition from NJO to joint operation
(JO). Thus, even though business revenue decreased, the contribution from joint venture
profit was able to support the company’s bottom line performance. In detail, the engineering
and construction segment contributed IDR 10.97T followed by manufacturing at IDR 1.53T,
property and service at IDR 488.80B, and investment and concession at IDR 364.55B.
(Kontan)
• DATA expands to Bandung and Cirebon
Remala Abadi (DATA) recorded a 20.24% yoy increase in revenue to IDR 348B. In line, profit
soared 282% yoy to IDR 99.4B. This performance is inseparable from the company’s efforts to
increase efficiency in every business line. One of them is optimizing spending for sales and
marketing purposes. In addition, infrastructure costs can be reduced so that the company
can focus more on increasing the number of homes connected and implementing a more
efficient and effective network strategy. In an effort to boost revenue growth, this year
Remala will aggressively roll out networks in various cities such as Cirebon and Bandung. If
there are no obstacles, in 2025 Remala will provide a fiber to the home (FTTH) network in
Cirebon of around 200,000 homepasses. While in the city of Bandung, it will roll out no less
than 300,000 homepasses. (Kontan)
• JRPT’s net profit grew 12.60% yoy in 2024
Jaya Real Property (JRPT) recorded a net profit growth of 12.60% to IDR 1.13T in 2024. This was
in line with revenue, which grew to IDR 2.94T (+17.75% yoy). The Company’s revenue
contribution is supported by the sale of land lots and building units which contributed IDR
2.07T. Then the rental segment contributed IDR 361.22B and environmental management
contributed IDR 198.98B. The company’s cost of revenue and direct costs were at IDR 1.31T
(+25.96% yoy). Gross profit was recorded at IDR 1.63T, up 11.64%. (Kontan)
