Aldira Sunrise 14 Agustus 2024

CPO: exports slump as demand in importing countries declines
The Indonesian Palm Oil Entrepreneurs Association (GAPKI) reported that the export performance of crude palm oil (CPO) and its derivatives experienced a decline on May 24 by 9.73% mom to 1,966 thousand tons. In detail, the biggest decline in exports occurred in CPO, namely 58.04% mom to 73 thousand tons in May. A decline also occurred in exports of processed CPO from 1,504 thousand tons in Apr down to 1,365 thousand tons in May. Meanwhile, oleochemical exports by 20.50% mom to 429 thousand tons in May. On a YTD basis, exports were down 8.87% yoy. This decline in exports was caused by a decrease in demand, especially from the largest CPO-importing countries such as China, India, The EU, and Pakistan. (Kontan)
ANTM will commission alumina smelter in 2H24
Aneka Tambang (ANTM) plans to commission the Smelter Grade Alumina Refinery (SGAR) phase I in Mempawah, West Kalimantan, on Sep 24. Meanwhile, the commercial operation date (COD) schedule is set for Feb 25. In this project, ANTM holds 40% ownership, and the remainder is held by Indonesia Asahan Aluminum (Inalum). SGAR Mempawah phase I with an investment value of USD 831.5M is planned to increase the production capacity of smelter grade alumina (SGA) to 1M tonnes, with a bauxite absorption capacity from upstream of 3M tonnes. Furthermore, ANTM together with Inalum plans to continue work on the Mempawah SGAR for phase II with the potential for additional alumina production capacity reaching 1M tons to 2M tons. (Bisnis Indonesia)
PANI plans to conduct IDR 4.09T private placement
Pantai Indah Kapuk Dua (PANI) will conduct private placement to raise IDR 4.09T fund on 19 Aug 24. In this corporate action, PANI will issue 787,433,700 new shares with a nominal value of IDR 100 per share. This amount is lower than the initial plan of 1.56B shares. PANI’s private placement will be carried out for IDR 5,200 per share. As a result, the transaction value reached IDR 4.09T. After the private placement, the amount of issued and fully paid share capital in PANI will increase to IDR 1.64T. In this private placement, all new PANI shares will be taken up by Multi Artha Pratama, the controlling shareholder of PANI.with 89.2% ownership as of 31 Jul 24. (Bisnis Indonesia)