Automotive: Astra ASII Car Sales Down 13% in 1H25
PT Astra International Tbk (ASII) experienced a 13% year-on-year decline in car sales in 1H25 to
201,633 units from 231,734 units in the same period the previous year, in line with the weakening national automotive market, which also fell 8.6% to 374,741 units. The sharpest decline occurred in June 2025, when Astra’s sales plunged 33% to 29,365 units from 43,900 units the previous year. Despite this, Astra managed to maintain a 54% market share. The largest sales contributions came from Toyota and Lexus (124,843 units), followed by Daihatsu (64,405), Isuzu (11,275), and UD Trucks (1,110). Management highlighted challenges from consumer purchasing power and economic conditions, but remained optimistic about a recovery in the second half with the support of a national distribution network and
after-sales service. (IDX Channel)
AMMN Invests IDR 45.6B in Exploration Activities in Sumbawa
PT Amman Mineral Internasional Tbk (AMMN), through its subsidiary, PT Amman Mineral Nusa
Tenggara, is investing USD 2.85B (IDR 45.6B) in exploration funds during the second quarter of
2025 for exploration activities in the Elang II, Rinti III, and Lampui IV Block IUPK areas in Sumbawa,
West Nusa Tenggara. The primary focus is on the Elang copper-gold project, with seven drilling
holes (3,500.7 m) and four infill holes (2,162 m), accompanied by geophysical and geological
surveys. Supporting activities in Rinti and Lampui include IP survey line preparation, drilling, and
data acquisition to support further exploration in prospective zones. (IDX Channel)
BULL Decided not to Distribute Cash Dividends for the 2024 Fiscal Year
PT Buana Lintas Lautan Tbk (BULL) has decided not to distribute cash dividends for the 2024 fiscal
year due to the company still recording a negative retained earnings balance. Although it managed
to post a net profit of IDR 223.5 billion throughout 2024, this figure recorded a 48% decrease from
the previous year which reached IDR 431 billion.The company also continues to
accumulate a deficit of USD 261.53 million. In addition to discussing the distribution of
dividends, the Annual General Meeting of Shareholders (RUPST) also approved the
company’s plan to retract shares from the buyback.
MCOL Reports USD 277,600 Q2 2025 Exploration Spend, Targets 42 Drill Points in Q3
PT Prima Andalan Mandiri Tbk. (MCOL) recorded USD 277,600 in exploration spending during Q2
2025 through its subsidiary PT Mandiri Intiperkasa (MIP), focusing on mapping mining areas for the
next five years and improving coal resource and reserve quality. Drilling activities covered 70 open
hole points with a total depth of 10,748.10 meters, conducted by PT Global Mining Services using
Jacro 250, 350, and 450 rigs. All points underwent geophysical logging and coal quality testing by
Sucofindo, supervised by MIP’s in-house geologists. For Q3 2025, MIP targets 42 new drill
points with a total depth of 8,469 meters. (Emiten)
PPRE Secures IDR 144B Civil Works Contract in Merauke, Strengthens H1 2025 Total Orders to IDR 3T
PT PP Presisi Tbk. (PPRE), a leading construction provider and strategic partner for national
infrastructure acceleration, particularly in Eastern Indonesia, has secured a new IDR 144B civil works
project in Merauke, Papua. The 14-month project includes stripping, temporary road construction,
and initial drainage systems, aimed at supporting national plantation sector development. CEO
Rizki Dianugrah emphasized the contract win reflects PPRE’s sustained growth strategy,
focusing on efficiency, quality, and optimal use of heavy equipment. As of H1 2025, PPRE’s
consolidated contract value has reached IDR 3T, highlighting strong expansion momentum and
operational competitiveness. (Emiten)
RAFI Faces PKPU Lawsuit Over Fintech Loan Default
The franchise network operator for Baba Rafi kebabs, PT Sari Kreasi Boga Tbk or SKB Food
(RAFI), has failed to settle an online loan amounting to IDR 2 billion that is due in March 2025. The short-term loan, with a two-month tenor and an interest rate of 4%, comes from PT Creative Mobile Adventure, a fintech company based on information technology (P2P lending) that operates under the trademark Boost. The funds were used by the company as working capital. However, RAFI’s unstable financial condition has led the company to postpone its payment obligations, which eventually resulted in
a lawsuit for Debt Payment Obligation Suspension (PKPU) from the creditors. Management emphasizes that the company has been striving for a peaceful resolution through a series of discussions to prevent the legal process from escalating to the next stage.
WIFI Recorded a Net Profit of IDR 228B in 1H25 (+166% YoY)
PT Solusi Sinergi Digital Tbk or Surge (WIFI) became the first issuer on the Indonesia Stock
Exchange (BEI) to release financial performance for 2Q25. In the interim financial report published
on Friday (July 11, 2025), WIFI’s revenue throughout 1H25 reached IDR 513 billion (+66% as
compared to 1H24). The advertising segment, which has been the main source of WIFI’s
revenue, increased by 26% to IDR 233 billion. In addition, the company also gained a new source
of revenue from the bandwidth segment reaching IDR 241 billion. Amid the revenue surge,
the cost of goods sold actually decreased, reflecting that WIFI;s business is becoming more
efficient. The cost of sales fell 6.2% to Rp121 billion, primarily due to a decline in advertising expenses.
