Economy: BI Projects Decline in Retail Sales and Price Inflation for Jun and
Sep 25
Bank Indonesia (BI) forecasts a decline in retail sales performance in June and September 2025,
as reflected in the decrease of the Retail Sales Expectation Index (IEP) to 125.5 and 137.1,
respectively, down from 147.3 and 162.8 in the previous periods. The decline is attributed to
school exam season in June and normalized public activity without collective leave or major
events in September. Additionally, BI projects a moderation in price inflation, with the General
Price Expectation Index (IEH) falling to 146.4 in June and 153.1 in September, driven by adequate
supply of goods and stable demand, particularly in September. (Kontan)
BNGA’s Stock Jumps 5.26% After Announcing Jumbo Dividend
PT Bank CIMB Niaga Tbk (BNGA) shares surged 5.26% to IDR 1,800 after announcing a jumbo
dividend of IDR 3.9T, equivalent to IDR 155.37 per share, representing an 8.63% dividend yield
and a 60% payout of its 2024 net profit of IDR 6.5T. Notably, the dividend payout is 26.9% higher
than the previous year’s IDR 3.08T. This news comes after the stock had declined for two
consecutive days prior, on May 8-9, 2025. (IDX channel)
EDGE Invests IDR497.04B in Fiber Optic Expansion
Indointernet (EDGE), also known as Indonet, is investing USD 30M (approximately IDR 497.04B)
since 2024 to expand its fiber optic network, with a 2025 target of building an additional 30 to
40 km of fiber lines. Currently, Indonet operates around 700 km of fiber optic infrastructure,
primarily across the Greater Jakarta (Jabodetabek) area. Senior VP of Sales & Marketing Yudie
Haryanto emphasized the strategic importance of fiber optics in completing Indonet’s digital
ecosystem, which includes its cloud and data center services. Presently, 80% of its fiber services
cater to B2B clients, with the remaining 20% serving B2C customers—a segment the company
sees as having growth potential. The ongoing developments also include underground fiber
pathways to data centers, improving physical security and network resilience, along with the
adoption of advanced, high-capacity network hardware. In its next phase, Indonet aims to
expand its core network to more strategic locations, promoting inclusive and equitable digital
growth (Bisnis Indonesia)
HEAL Expands with New Facilities in Bali, Salatiga, and Malang
Medikaloka Hermina (HEAL) continues its hospital network expansion with plans to open a new
facility in Badung, Bali, by November 2025, allocating nearly IDR 200B in capital expenditure for
the project. According to Yulisar Khiat, Deputy Director of Finance and Strategic Development,
the Bali hospital has already begun construction. This initiative is part of HEAL’s broader 2025
strategy to address rising healthcare demand outside Java. Additionally, Hermina plans to open
another hospital in Salatiga by December and has initiated groundbreaking for a new hospital
in Malang, expected to be completed by the end of next year. In 2024, Hermina had already
expanded by adding hospitals in Madiun, Pasuruan, IKN, and PIK II, bringing its total network to
52 hospitals with total assets reaching IDR 10.58T, marking a 20.23% yoy increase. (Kontan)
INTP Expands Market Share in Q1 2025
PT Indocement Tunggal Prakarsa Tbk (INTP) expanded its market share to 30.1% in Q1 2025—up
from 29.5% last year—even as Indonesia’s domestic cement market declined by 7.8% YoY. The
company recorded total sales of 4.36 million tons of cement and clinker (–4.0% YoY) due to
extended Idulfitri holidays affecting truck deliveries. Meanwhile, export volumes grew to 74,000
tons (+6.6% YoY), while domestic sales fell to 4.29 million tons (–4.2% YoY). INTP reported net
revenue of IDR 3.98T (–2.6% YoY) and net profit of IDR 210.7B (–11.5% YoY), while maintaining a
gross margin of 28.2%. Corporate Secretary Dani Handajani noted that although bulk cement
demand is under pressure from infrastructure challenges and strategic project delays, the
bagged cement segment is expected to drive demand growth throughout the year. (Bisnis
Indonesia)
KPIG Books 32% Revenue Growth in Q1 2025
PT MNC Land Tbk (KPIG) posted consolidated revenue of IDR 464.71B in Q1 2025, up 32% from
the same period last year, mainly driven by increased contributions from its property and
hospitality segments as business activity and occupancy rates improved. The company’s net
profit rose 8.4% to IDR 60.74B, although the net margin declined to 13.1% due to higher operating
costs. EBITDA surged 66.2% to IDR 87.5B, reflecting stronger operational performance. As of
March 31, 2025, assets slightly increased to IDR 35.86T, liabilities decreased to IDR 7.26 trillion,
and equity rose to IDR 28.59T. KPIG’s share price closed at IDR 125 on May 9, down 2.34% on the
day but still up 5.93% over the past month. (Kontan)
MYOR Plans Share Buyback Worth IDR 1T
PT Mayora Indah Tbk. (MYOR) has allocated up to IDR 1T for a share buyback program, set to run
from June 5, 2025, to June 5, 2026. The company plans to repurchase shares not exceeding 20%
of its paid-up capital while maintaining at least 7.5% of shares outstanding, in accordance with
regulatory requirements. The buyback will be funded entirely from internal cash reserves, which
amounted to over IDR 4.6T as of the end of 2024, ensuring no material impact on MYOR’s
financial performance or operations. The initiative aims to enhance capital structure efficiency
and better reflect the company’s performance through its stock price. Shares repurchased will
be recorded as treasury stock, and PT Indo Premier Sekuritas has been appointed to execute
the buyback through trading on the Indonesia Stock Exchange. (Bisnis Indonesia)
SOHO Posted Strong 1Q25 Financial Performance
Soho Global Health (SOHO) reported solid financial results for 1Q25, with revenue rising 9.46%
yoy to IDR 2.67T, up from IDR 2.44T in 1Q24. Net profit also increased by 5.46%, reaching IDR
133.2B compared to IDR 126.3B in the same period last year. The company showed improved cash
flow performance, with cash and equivalents increasing 27.8% to IDR 597.4B. As of March 2025,
total assets stood at IDR 5.5T, up 1.66% from December 2024. Liabilities decreased by 1.48% to
IDR 2.65T, while equity rose 4.79% to IDR 2.84T. (Kontan)
SSMS Allocates IDR 510B Capex for 2025
PT Sawit Sumbermas Sarana Tbk (SSMS) has budgeted IDR 510B for capital expenditure (capex)
in 2025, prioritizing infrastructure development, employee housing, machinery purchases, and
operational support. As of Q1 2025, IDR 180B has been realized. SSMS aims for 10% growth this
year, driven by increased palm oil industry demand and cost-efficiency strategies. The company
targets achieving this growth through inorganic growth and downward expansion, focusing on
integrated vertical business structures from upstream to downstream activities. (IDX channel)
