Aldira Sunrise 16 Oktober 2024

Economy: Export decreased to USD 22.08B on Sep 24
The Central Statistics Agency (BPS) recorded that Indonesia’s exports reached USD 22.08B on Sep 24 (-5.80% mom). This was due to the decline in oil and gas exports to USD 1.17B (-2.81% mom) as well as non-oil and gas exports to USD 20.91B (-5.96% mom). However, on an annual basis, export was recorded to have increased by 6.44% yoy in 9M24 to USD 22.07B. (Kontan)
ADHI records IDR 69.32B net profit in 9M24
Adhi Karya (ADHI) booked revenue of IDR 9.16T (-19.97% yoy). In detail, the engineering and construction segment contributed IDR 7.20T, followed by the manufacturing segment of IDR 1.25T, the property and services segment of IDR 378.34B, and the investment and concession segment of IDR 315.31B. In line with revenue correction, the cost of revenue also decreased 19.66% yoy to IDR 8.29T, which brings gross profit to IDR 863.58B (-22.88% yoy). However, after accumulating other income and expenses, the company achieved a net profit of IDR 69.32B (+194.52% yoy). One of the drivers came from the joint venture profit share, which reached IDR 568.73B (+104.87% yoy). (Bisnis Indonesia)
MTLA records IDR 1.29T marketing sales in 9M24
Metropolitan Land (MTLA) recorded marketing sales of IDR 1.29T in 9M24 (+5% yoy), achieving around 57% of the FY24 target of IDR 1.9T. The new government plans to eliminate 11% VAT and 5% land and building acquisition fees (BPHTB), which will reduce costs paid by consumers to buy a house and potentially drive demand for developers. Apart from that, the new government also planned to build three million homes a year, which is expected to positively impact demand for subsidized KPR. Regarding this plan, MTLA has not yet seen a direct impact on the company’s performance and needs to look at the program scheme first to know whether it can be run by the developer. (Kontan)