Aldira Sunrise 19 September 2024

Economy: BI cuts rate to 6%
Bank Indonesia (BI) finally cut the BI Rate on Sep 24 to 6% from the previous 6.25%. Meanwhile, the Deposit Facility interest rate was also cut to 5.25%, and the Lending Facility interest rate to 6.75%. This decision is consistent with the expected low inflation in 2024 and 2025, the strengthening and stability of the rupiah exchange rate, and the need for efforts to strengthen national economic growth. (CNN Indonesia)
LPCK’s net profit was down in 1H24
Lippo Cikarang (LPCK) posted a revenue of IDR 690.82B (+19.62% yoy). This performance was contributed by the residential house and apartment sales of IDR 267.13B (+4.07% yoy), city management of IDR 207B (+7.89% yoy), sales of industrial land of IDR 156.81B, sales of commercial land and shophouses of IDR 26.97B, and rental income amounted to IDR 32.88B. In line, gross profit was up 2.89% yoy to IDR 263.68B. However, after other income and expenses, LPCK recorded a net profit of IDR 71.12B (-3.05% yoy). (Bisnis Indonesia)
UNTR increase Komatsu sales target to 4,500 Units
United Tractors (UNTR) has increased its sales target for Komatsu to 4,500 units in FY24 from the previous 4,000 units. As of July 2024, UNTR had sold 2,515 Komatsu units (-29% yoy), where 63% was sold to the mining sector, 14% to the plantation sector, 13% to the construction sector, and 10% to the forestry sector. However, UNTR’s outlook on heavy equipment sales has improved as the slowdown of sales in the commodity sector is expected to be slightly offset by the sales in the construction sector. (Bisnis Indonesia)