Aldira Sunrise 11 November 2024

• Global: The Fed cuts rate to 4.50-4.75%
The US Federal Reserve lowered its benchmark interest rate by 25 bps to 4.50-4.75% at the
Nov FOMC meeting. The FED chairman, Jerome Powell, explained that the interest rate cut
was carried out taking into account employment conditions which were generally
improving, and inflation which was moving towards the US central bank’s target of 2%.
(Bisnis Indonesia)
• KMDS’s new controller holds mandatory tender of IDR 473 per Share
Dima Investindo, having acquired a 55% stake in Kurniamitra Duta Sentosa (KMDS) at IDR
420 per share from Miki Ojisan Indomitra, is initiating a mandatory tender offer for the
remaining 21.12% public shares, totaling approximately 168.92M shares, at IDR 473 per share.
The tender offer period spans from 7 Nov to 6 Dec 24. This acquisition positions Dima
Investindo as the new controlling shareholder, potentially influencing KMDS’s strategic
direction and operational focus (Emiten News)
• KRAS signed major agreement with Pertagas
Krakatau Steel (KRAS) has signed a major agreement with Pertamina Gas (Pertagas) to
supply approximately 102 kilometers of steel pipes for a strategic fuel pipeline project from
Terminal Cikampek in West Java to Terminal Plumpang in Jakarta. The pipes, produced by
Krakatau Pipe Industries, are 16 inches in diameter and meet the API 5L grade standards,
designed for high-capacity fuel transport. This pipeline will handle about 4.6 million kiloliters
per year, moving fuel from the Balongan refinery to the terminals. The project highlights
KRAS’s involvement in key infrastructure, aligning with national energy goals and
underscoring its market position in steel manufacturing. (Emiten News)
• MTEL to acquire another fiber optic assets at the end of the year
Dayamitra Telekomunikasi (MTEL) expects another inorganic fiber optic assets acquisition at
the end of this year. However, Mitratel Investment Director, Hendra Purnama, emphasized
that the acquisition will not be of fiber optic assets belonging to Indosat (ISAT) and Link Net
(LINK). According to Hendra, LINK’s fiber optic assets currently do not fit into Mitratel’s
portfolio. Meanwhile, ISAT’s fiber optic assets are currently mixed and are fiber optic
backbone, while Mitratel’s fiber optic assets are fiber to the tower (FTTT). MTEL has set an
aggressive target for expansion, with the addition of fiber optics of up to 14,000 km. In 9M24,
MTEL has added 7,193 km to its fiber optic portfolio, with the total length reaching 39,714 km
(+36.7% yoy). (Bisnis Indonesia)