Aldira Sunrise 14 November 2024

• BEKS to conduct right issue
Bank Pembangunan Daerah Banten (BEKS), commonly known as Bank Banten, plans to
conduct a rights issue by issuing 5.185B Series C shares with a nominal value of IDR 50 per
share, representing approximately 9.996% of the company’s post-issue paid-up capital. The
rights issue is scheduled for Oct 24, pending approval from shareholders at the Extraordinary
General Meeting (EGM) on 17 Oct 24. The proceeds, estimated at IDR 114.102B after deducting
issuance costs, will be allocated for the acquisition of land and buildings to support business
operations, with the remainder used for business development. The Provincial Government
of Banten, holding a 66.11% stake in BEKS, intends to exercise its rights through an in-kind
contribution of assets, including several properties in Banten province. This strategic move
aims to strengthen BEKS’s capital structure and expand its operational capacity, potentially
enhancing its market position and financial performance. (Stockwatch)
• SGER bought 2 MT coal with a potential revenue of IDR 3T
Sumber Global Energy (SGER) announced it had signed a coal sale and purchase agreement
with Merge Mining Industri as the seller and SGER as the buyer. The volume of this contract
is 2M metric tons with potential revenue of IDR 3T. The coal purchased has a gross calorific
value specification of 6,300 kcal/kg with an ash content of 14% and a total sulfur content of
0.5%. It is produced from Merge Mining Industri’s mining area and is not mixed with or from
third-party production. The coal will be sent by the seller starting from Nov 24 until no later
than Oct 28. (Kontan)
• SMCB’s net profit down 23.66% yoy in 9M24
Solusi Bangun Indonesia (SMCB), a subsidiary of Semen Indonesia Group (SIG), reported a net
profit of IDR 422.53B in 9M24, marking a 23.66% decline from IDR 553.55B in the same period
the previous year. Earnings per share decreased to IDR 47 from IDR 61. Revenue slightly
decreased by 2.45% to IDR 8.74T, while the cost of goods sold increased marginally to IDR
7.03T, resulting in a 12% drop in gross profit to IDR 1.71T. Operating expenses saw reductions,
with distribution and selling expenses down to IDR 674.1B and general and administrative
expenses to IDR 259.76B. Despite these cost-saving measures, the overall decline in
profitability suggests challenges in maintaining margins amid fluctuating demand and rising
production costs. (Emiten News)
• TOTO will distribute an IDR 123.84B interim dividend
Surya Toto Indonesia (TOTO) will distribute an interim dividend of IDR 123.84B or equivalent
to IDR 12 dividend per share. The dividend distribution is based on its 9M24 results, in which
the company booked IDR 198.35B net profit. The cum dividend date is on 21 Nov 24, while the
payment date is on 12 Dec 24. (Kontan)