- SMCB cement sales reached 6.3M tons in 1H24
Solusi Bangun Indonesia (SMCB) recorded a cement sales volume of 6.3M tons in 1H24. As of 1H24, SMCB has booked IDR 5.42T in revenue (-2.73% yoy) and a net profit of IDR 163.52B (-35.61% yoy). From a macro perspective, it is hoped that the potential reduction in interest rates in the 2H24 will help stimulate consumption and positively impact company performance. Currently, SMCB is completing a dock development project and production facilities in Tuban, East Java to meet the need for type V cement exports to the United States in 2025 through the Taiheiyo Cement Corporation network. (Kontan) - TPMA forms Trans Ocean Permata JV
Trans Power Marine (TPMA) formed a joint venture, Trans Ocean Permata, with Samudra Investama Maju (SIM). In detail, 51% of the company is owned by TPMA (IDR 10.2B paid-up capital) and 49% by SIM (IDR 9.8B paid-up capital). The Trans Ocean Permata JV plans to purchase 20 sets of tugboats and barges and 2 units of floating crane ships. This purchase will be realized within 2 to 3 years with a total capex of approximately USD 90M. Funding for the purchase of the ships came from 20% of the JV’s internal funds and 80% from bank or financial institution loans. (Bisnis Indonesia)