Aldira Sunrise 15 November 2024

• BUMI will conduct private placement
Bumi Resources (BUMI) has announced plans to conduct a private placement to convert its
Mandatory Convertible Bonds (OWK). The company intends to issue 1,413,409 Series C shares
with a nominal value of IDR 50 per share. The private placement is scheduled for November
21, 2024, with results to be announced on 25 Nov 24. The conversion price is set at IDR 157 per
share, in line with the OWK conversion terms. Post-placement, BUMI’s total issued and paidup
capital will increase from 371,320,723,144 shares to 371,322,136,553 shares, comprising
20,773,400,000 Series A shares, 53,501,346,007 Series B shares, and 297,047,390,546 Series C
shares. This strategic move aims to strengthen BUMI’s capital structure by reducing debt
through equity conversion, potentially enhancing the company’s financial stability and
attractiveness to investors. (Emiten News)
• FREN’s booked a net loss of IDR 1T
Smartfren Telecom (FREN) has reported a significant financial setback for 9M24. Revenues
dropped slightly by 0.9% yoy to IDR 8.54T, while operating expenses rose to IDR 8.70T,
pushing the company into an operating loss of IDR 164.10B, compared to a profit of IDR
319.18B in the same period last year. The company’s net loss attributable to shareholders
escalated by 66.8%, reaching IDR 1T, up from IDR 599.63B previously. This substantial rise in
losses indicates escalating challenges for FREN, driven by increased expenses amid declining
revenues, highlighting potential liquidity and profitability concerns. (Emiten News)
• KIJA records a 45% increase in Industrial Land Sales in 9M24
Kawasan Industri Jababeka (KIJA) noted that industrial land sales increased 45% to IDR 2.09T
in 9M24. The Kendal Industrial Area contributed 83% to industrial land sales in 9M24, while
the remaining 17% came from the Cikarang industrial area, West Java. Apart from industrial
areas, the company recorded marketing sales from residential and commercial products of
IDR 298B in 9M24 (+21% yoy). (Kontan)
• MLBI to distribute IDR 400.33B interim dividends
Multi Bintang Indonesia (MLBI) will distribute interim dividends of IDR 400.33B, with each
shareholder receiving an IDR 45 dividend per share. The dividend distribution is based on the
9M24 net profit of IDR 762.56B (+10.22% yoy). Cum dividend date is on 22 Nov 24, while the
payment date is on 12 Dec 24. (Bisnis Indonesia)
• TOBA divested 2 PLTUs valued at USD 144M
TBS Energi Utama (TOBA) officially divested two steam power plants (PLTU) with a total
capacity of 200 MW, namely Minahasa Cahaya Lestari (MCL) in Minahasa and Gorontalo
Electric Perdana (GLP) in Gorontalo. This sale was agreed upon with Kalibiru Sulawesi Abadi
(KSA) as the buyer. The transaction value reached USD 144M. With this PLTU divestment,
TOBA estimates a reduction in carbon emissions of 1.3M tons of CO2, thereby supporting its
2030 target to become a green and sustainable company. The divestment proceeds will be
allocated to strengthen investment in the sustainable sector, including the development of
EBT projects, waste management, and electric vehicles. TOBA also sees this divestment as a
step to reduce consolidated debt by more than 70%, which will increase the company’s
flexibility in financing sustainable projects. (Kontan)