AGRO Plans IDR 20B Share Buyback
PT Bank Raya Indonesia Tbk (AGRO) is set to conduct a share buyback of up to IDR 20B, pending
approval at its Annual General Meeting on 25 Jun 25. The buyback aims to support its Employee
and/or Management Stock Ownership Program. This initiative is part of AGRO’s broader variable
compensation scheme, designed to enhance employee engagement and foster a stronger
sense of ownership and contribution within the company. Additionally, the buyback reflects
management’s confidence in the company’s improving performance and future prospects,
aiming to deliver long-term value to stakeholders. The buyback will be funded using the
company’s internal cash reserves, following POJK 29/2023 regulations. Consequently, the
company anticipates a potential decrease in assets and equity up to the buyback value. (IDX
Channel)
BRIS to Distribute IDR 1.05T in Dividends
Bank Syariah Indonesia (BRIS) will distribute IDR 1.05T in dividends, equivalent to 15% of its 2024
net profit of IDR 7T, or IDR 22.78/share. The decision was made during the annual general
meeting of shareholders on May 16, 2025. BRIS’s net profit rose 22.8% in 2024, driven by increased
revenue from profit-sharing and sales. (Emiten News)
BUMI’s Q1-2025 Profit Slumps, But Royalty Reform and Diversification Signal
Recovery
PT Bumi Resources Tbk (BUMI) posted a net profit of USD 18M in Q1-2025, down 73.6% YoY,
mainly due to asset disposal losses, reduced coal sales volume at KPC, and lower average selling
prices. While revenue declined 19.4% quarter-on-quarter to USD 349M, strong growth in the gold
segment helped offset weaker coal performance. Looking ahead, profitability is expected to
improve from May onwards, supported by the new government regulation (PP No. 19/2025) that
cuts royalty rates for coal firms under IUPK licenses from 28% to 19%. BUMI is also pursuing
business diversification, with ongoing negotiations to acquire a bauxite mine and alumina
refinery in West Kalimantan, as well as a gold mine in Australia, funded through a mix of internal
cash and debt. Additionally, BUMI awaits OJK approval for a quasi-reorganization that would
allow future dividend distributions. (Investor ID)
CITA Announces IDR 1.3 Trillion Dividend Payout
PT Cita Mineral Investindo Tbk (CITA), a bauxite mining company, will distribute a recordbreaking
dividend of IDR 1.3 trillion, or IDR 328 per share, for the 2024 fiscal year, representing a
dividend yield of 8.1%. Despite the announcement, CITA’s shares fell 3.6% to IDR 4,050. The
company targets 4.8 million tons of bauxite production and 4.4 million tons of sales in 2025, with
profits supported by its associate entity, PT Well Harvest Winning Alumina. (IDN Financials)
CLEO to Distribute Bonus Shares
PT Sariguna Primatirta Tbk (CLEO) plans to distribute bonus shares to shareholders at a 1:1 ratio.
The shares will be sourced from the company’s additional paid-in capital (agio saham), which
stood at IDR 267.04B as of 31 Dec 24. CLEO will issue 2B new shares, valued at IDR 240B in total,
with a nominal value of IDR 20 per share. These bonus shares are not considered dividends, as
they are not taken from retained earnings. The initiative aims to reward shareholders and
increase stock liquidity, potentially boosting share performance. The proposal will be presented
for approval at an Extraordinary General Meeting on 26 May 25 and the bonus shares will be
distributed on 26 Jun 25. (IDX Channel)
GGRM Strengthens Toll Road Business Amid Tobacco Industry Challenges
PT Gudang Garam Tbk (GGRM) is expanding its toll road business as it faces increasing pressure
in its core tobacco sector due to aggressive excise policies and weakening consumer purchasing
power. The company injected IDR 1.5T into its toll road subsidiary, PT Surya Sapta Agung Tol
(SSAT), bringing the paid-up capital to IDR 3.5T. This capital increase, made through a
shareholder circular decision outside of a general meeting, is intended to support the ongoing
construction of the Kediri–Tulungagung toll road in East Java, part of a National Strategic Project
under a Public-Private Partnership (PPP) scheme. The 44.17 km toll road includes a 6.82 km
segment to Dhoho Airport, also built by GGRM, and a 37.35 km main route. SSAT, fully controlled
by GGRM, is responsible for funding, construction, and operation, with a total investment value
of IDR 9.92T over a 50-year concession. This strategic diversification comes as GGRM’s 2024 net
profit fell below IDR 1T, the lowest in over two decades, alongside revenue dipping under IDR
100T for the first time since 2018. (IDX Channel)
HELI Expands Aerial Capabilities with New Helicopter and Innovation
PT Jaya Trishindo Tbk (HELI) has strengthened its aerial service capabilities by adding an Airbus
AS365 N3 helicopter, worth around IDR 10B, through its subsidiary PT Komala Indonesia.
Deployed for forest fire patrols in Sumatra or Kalimantan, the twin-engine aircraft offers
enhanced range and performance in extreme conditions. In April, HELI also tested the IA-25
drone developed by PT Iter Aero Industri, designed for logistics and fire detection missions in
remote areas. With a flight time of up to 180 minutes and 5 kg payload capacity, the drone is
equipped for day and night operations. HELI expects this innovation to contribute about 10% to
revenue, supporting its strategy to expand market reach and lead in aerial technology solutions.
(Investor ID)
INCO Distributes Dividends Amid Nickel Market Uncertainty
PT Vale Indonesia Tbk (INCO) announced a dividend distribution of USD 34.65M (IDR 573.04B) to
shareholders, despite facing uncertainty in the nickel industry. Acting CEO Bernardus Irmanto
emphasized that cost efficiencies in their growth projects allowed them to allocate funds for
dividends without compromising future investments. However, INCO’s 2024 net profit dropped
by 78.96% to USD 57.76M (-78.96%), while revenue declined 22.87% to USD 950.38M, reflecting
industry-wide challenges. The company also appointed Christopher McCleave as a new
commissioner, though the president director position remains vacant, with Bernardus Irmanto
still serving as interim president director. (Bisnis Indonesia)
SMKM Plans IDR 125B Right Issue
PT Sumbermas Konstruksi (SMKM) plans to conduct a right issue of 1.25 billion shares with a par
value of IDR 100 per share, subject to approval from the Otoritas Jasa Keuangan (OJK) and
shareholders in a special meeting on June 24, 2025. The funds raised will be used to strengthen
the company’s capital structure, support operational costs, business development, and potential
investments. Existing shareholders who don’t exercise their rights may face dilution of their
shareholding percentage. (Emiten News)
TUGU Posts 30% Profit Decline as Costs Rise
PT Asuransi Tugu Pratama Indonesia Tbk (TUGU), a Pertamina subsidiary, reported a 30.2% YoY
decline in net profit to IDR 247.3B in Q1-2025, driven by a sharp 39.7% drop in insurance service
revenue to IDR 1.95T and rising insurance service expenses, which increased 2.92% to IDR 1.51T.
Although reinsurance contract expenses fell significantly by 86.4% to IDR 212.5B, it was
insufficient to offset the overall rise in costs. Operating revenue declined 11.2% YoY to IDR 442.5B,
while operating expenses surged 77.9%, leading to a 29.6% drop in operating profit. The
company also recorded an unrealized loss of IDR 48.9B from changes in fair value of equity
instruments. Despite weaker earnings, TUGU saw improvements in retained earnings (up 3.5%
to IDR 7.2T) and total equity (up 5.2% to IDR 11.02T), though total liabilities rose 16.7% to IDR 19.11T
by end-March 2025. (Emiten News)
