Aldira Sunrise 21 January 2025

• ACES booked robust SSSG of 7% yoy on Dec 24
Aspirasi Hidup Indonesia (ACES) booked SSSG at 7.0% YoY on Dec 24 with a total indicative
sales of IDR 911B. It was primarily driven by Ex-Java with a robust SSSG of 9.7% yoy followed
by Java excluding Jakarta with 6.2%. Meanwhile, Jakarta recorded a positive SSSG of 3.4%
yoy. Overall, it has led SSSG FY24 to be at 8.8% yoy, above the guidance of 8% and higher than
FY23 of 8.1%. As of end-24, ACES owned 245 stores across Indonesia with top-selling
categories being homeware, home living, electrical, appliances, and kitchenware for 2024.
The company officially rebranded to AZKO on 1 Jan 25 and launched its new concept stores
at Living World Alam Sutera and Kelapa Gading on 9 Jan 25. ACES plans to finish changing
all store signage to AZKO by the end of 1Q25. (ACES)
• MTLA targets IDR 2T marketing sales in FY25
Metropolitan Land (MTLA) is targeting marketing sales of IDR 2T, which consists of pre-sales
and recurring revenue. Throughout 2024, MTLA has succeeded in achieving its marketing
sales target of IDR 1.9T. The flagship projects and focus of MTLA’s work will still come from
the landed house sector. MTLA also targets the market share of first-home buyers, end users,
or millennials. MTLA is also optimistic that business this year will be better in line with the
government’s efforts to oversee domestic economic growth by extending the VAT-DTP
incentives for the property industry. Regarding the weakening of Rupiah against USD, MTLA
said that middle-class residential properties do not use many imported products so
exchange rate fluctuations do not have a direct impact on rising property prices. However,
MTLA still hopes that the government will maintain the exchange rate. The company is
planning to conduct efficiency efforts if the Rupiah reaches IDR 17,000 per USD. (Kontan)
• TOWR to acquire 40% stake in DATA
Djarum Group through its subsidiary Sarana Menara Nusantara (TOWR) will acquire 40% of
the shares in Remala Abadi (DATA). In a public announcement, the Board of Directors of
Iforte Solusi Infotek announced that the company was in the process of negotiation to take
over 40% of the shares of Remala Abadi (DATA). IForte is an indirect subsidiary controlled by
TOWR, which signed a binding sale and purchase agreement on 23 Dec 24 with the sellers.
The agreement will be the basis for further negotiations regarding the planned takeover of
40% of DATA’s shares. After the acquisition transaction, IForte will become the new controller
of Remala Abadi. The takeover plan aims to develop the business and expand the business
network to strengthen the buying group’s business in the digital telecommunications
infrastructure sector. Meanwhile, the negotiation material that is still being discussed is
regarding the final value of the proposed acquisition and the completion time of the
proposed transaction. After the acquisition, iForte will carry out a mandatory tender offer as
the new controller. (Bisnis Indonesia)