Aldira Sunrise 13 November 2024

• Automotive: National car wholesale sales reach 77,191 units in Oct 24
Based on data from Gaikindo, wholesale sales of cars grew 6.2% to 77,191 units on Oct 24
compared to 72,666 units on Sep 24, the highest monthly wholesale car sales figure
throughout 2024. Gaikindo also noted that retail sales rose 1.5% mom to 73,443 units on Oct
24, from the previous 72,337 units. However, national car wholesale sales in 10M24 still
declined 15% yoy to 710,406 units compared to 836,128 units in 10M23. National car retail sales
also decreased 11.5% yoy from 825,692 units in 10M23 to 730,637 units in 10M24. (Kontan)
• AADI is conducting book-building phase
Adaro Andalan Indonesia (AADI) has initiated its initial public offering (IPO) process,
conducting a book-building phase from 12 – 18 Nov 24. The company plans to offer up to
778,689,200 shares at a price range of IDR 4,590 to IDR 5,900 per share, aiming to raise
approximately IDR 4.59T. Trimegah Sekuritas is serving as the underwriter for this offering.
AADI, established in 2004, operates as a holding company with subsidiaries in thermal coal
mining, logistics, land asset management, water management, and other sectors, including
investments, power generation, mining consultancy, and IT development. The company’s
operations span across various regions in Indonesia, including Jakarta, Kalimantan, Sumatra,
and Java. Previously a subsidiary of Adaro Energy Indonesia (ADRO), AADI’s IPO includes a
secondary offering by ADRO, which plans to divest up to 7,008,202,240 shares through a
shareholder public offering (PUPS). This strategic move is part of ADRO’s broader plan to
distribute an additional final cash dividend of up to USD 2.629B, subject to approval in an
extraordinary general meeting scheduled for 18 Nov. (Emiten News)
• BBCA to distribute IDR 50 interim dividend per share
Bank Central Asia (BBCA) will distribute an interim dividend of IDR 50 per share or the
equivalent of IDR 6.1T based on its 9M24 net profit of IDR 41.07T. The distribution is 17.85% yoy
higher compared to the distribution in 2023 at IDR 42.50 per share or the equivalent of IDR
5.23T. Cum dividend date is on 20 Nov 24, while distribution will be on 11 Dec 24.
(Bisnis Indonesia)
• TOBA allocates IDR 425B to buyback shares
TBS Energi Utama (TOBA) has allocated IDR 425B for a share buyback program, aiming to
enhance shareholder value and align with the company’s performance growth. The buyback
is scheduled to take place over a 12-month period, commencing on 12 Nov 24, and concluding
on 11 Nov 25. This strategic move reflects TOBA’s confidence in its financial health and future
prospects, potentially leading to an increase in earnings per share and providing a positive
signal to the market. (Bisnis indonesia)
• PTPP secured IDr 24.4T new contracts in 10M24
As of Oct 24, PT PP (PTPP) has secured new contracts totaling IDR 24.4T, achieving 76.31% of
its annual target. The contract composition is as follows: government-funded projects
account for 41.24%, state-owned enterprises (BUMN) contribute 30.76%, and private sector
projects make up 28%. Sector-wise, the distribution includes roads and bridges (34.87%),
buildings (30.09%), mining (18.36%), industry (10.28%), ports (4.52%), airports (1.06%), and other
sectors such as dams, oil and gas, irrigation, and power plants (0.83%). Notable projects
acquired in October include the Jogja–Bawen Toll Road Section II (IDR 1.53T), Petrokimia
Gresik Jetty (IDR 761.5B), and a four-tower vertical housing project in the new capital city (IKN) valued at IDR 325.08B. These developments indicate PTPP’s robust project acquisition
capabilities and diversified portfolio, which are crucial for sustaining revenue growth and
enhancing shareholder value. (Kontan)