ACES Maintains 4% Growth in 4M25 Despite April Sales Dip Post-Ramadan
PT Ace Hardware Indonesia Tbk (ACES) reported a 4.2% yoy indicative sales growth in 4M25,
reaching IDR 2.85T, despite an 8% decline in April indicative sales to IDR 702B. The sales
contraction in April was anticipated, driven by the shift in Ramadan timing to Mar this year, as
opposed to Apr in 2024, leading to weaker Same Store Sales Growth (SSSG) across all regions,
including a -13.4% drop in Jakarta, -14.3% in Java excl. Jakarta, and -14.0% in Ex-Java.
Nevertheless, management remains optimistic, supported by strategic initiatives such as
engaging promotions, a curated product portfolio, and continued store expansion into
greenfield areas. As of Apr 25, AHI proudly operates 250 AZKO stores, with the latest opening in
Condet (1,860 m²), focusing on top-selling categories like appliances, electrical goods,
homeware, home living, and kitchenware. (ACES)
ACST Raises IDR 500B Through Private Placement
PT Acset Indonusa Tbk (ACST), a construction company under Astra Group, has successfully
raised IDR 500B through a private placement by issuing 5 billion new shares at IDR 100/share on
May 15, 2025. This move increased the company’s total outstanding shares by 39%, bringing the
total to 17.67 billion shares. The funds will be used for new projects, business expansion, and
improving working capital, including fulfilling short-term obligations and financing ongoing
projects. The company’s major shareholder, PT Karya Surya Perkasa, fully participated in the
private placement to strengthen ACST’s financial structure and stability. (IDX Channel)
BAYU to Distribute IDR 100 per Share Dividend
PT Bayu Buana Tbk (BAYU) will distribute a cash dividend of IDR 100 per share, totaling IDR
35.32B, following approval from the Annual General Meeting of Shareholders on May 16, 2025.
The dividend payment date is set for June 19, 2025. BAYU reported a 44.3% year-on-year increase
in net profit to IDR 102.17B in 2024, driven by an 18.8% rise in revenue to IDR 2.58T. The company
targets a 7.75% revenue growth to IDR 2.78T in 2025. (Bisnis Indonesia)
BBSI Reports Strong Q1 2025 Profit Growth and Strategic Expansion
PT Krom Bank Indonesia Tbk (BBSI) reported a net profit of IDR 35.33B in Q1 2025, marking a
25.35% YoY increase. During its annual general meeting, shareholders approved the allocation
of the entire 2024 net profit of IDR 124B to retained earnings, aiming for long-term growth amid
financial market challenges. The bank saw a 125% rise in net interest income to IDR 965B in 2024,
with total assets surging 83% to IDR 6.65T. Loan disbursement grew 131% to IDR 4.25T, while
third-party funds increased nearly ninefold to IDR 3.16T. Krom Bank maintains a low nonperforming
loan ratio of 2.82% and continues to innovate with technology-driven services to
enhance customer engagement. (IDX Channel)
BMHS Stock Target Lowered After Q1 Performance Declines
Bundamedik (BMHS) experienced a significant decline in financial performance in the first
quarter of 2025. The company’s net profit dropped by 70% year-on-year, reaching IDR 3.2B, while
revenue fell 8% to IDR 379B. The decline was attributed to seasonal factors, including fewer
working days and an earlier Ramadan, which reduced patient visits for outpatient, inpatient, and
IVF services. Additionally, government budget efficiency measures delayed health screening
contracts, further impacting earnings. Despite these setbacks, BMHS management remains
optimistic, maintaining an annual revenue growth projection of 10–15%, driven by higher patient
fees and post-Ramadan recovery. (IDX channel)
CUAN Plans 1:10 Stock Split to Boost Retail Investor Participation
PT Petrindo Jaya Kreasi Tbk (CUAN) is set to propose a 1:10 stock split, subject to shareholder
approval at an Extraordinary General Meeting on 26 Jun 25. This move will increase the number
of issued and fully paid shares from 11.24B to 112.41B, with the nominal value per share adjusted
from IDR 200 to IDR 20. President Director Michael stated that the primary goal is to make CUAN
shares more affordable to retail investors, aiming to enhance market liquidity and trading
activity. The company believes this corporate action will help diversify its shareholder base and
support long-term business growth. The stock with the new nominal value is expected to begin
trading on 10 Jul 25, without impacting the company’s financial health. (Kontan)
MARK Distributes 93% of 2024 Profit as Dividend, Yield Reaches 8.64%
PT Mark Dynamics Indonesia Tbk (MARK), a medical glove mold producer, will distribute a cash
dividend of IDR 266B or IDR 70 per share, as approved in its Annual General Meeting on May 16, 2025. This payout represents 93% of the company’s 2024 net profit of IDR 286.6B. With the stock
trading at IDR 810 on May 20, the dividend yield stands at 8.64%. MARK recorded a 84% year-onyear
increase in net profit, exceeding its target, supported primarily by export sales amounting
to IDR 756B, or 93% of total revenue. (Emiten News)
MLBI to Distribute IDR 741.66B Dividend
PT Multi Bintang Indonesia Tbk. (MLBI) has announced a final cash dividend distribution for the
2024 fiscal year totaling IDR 741.66B, or IDR 352 per share, to shareholders. This is part of the
total dividend of IDR 1.14T (IDR 542 per share) approved during the Annual General Meeting on
16 May 25, which includes an interim dividend of IDR 190 per share already paid in Dec 24.
Shareholders recorded by 28 May 25, will be eligible to receive the final dividend, with payment
scheduled for 19 June 25. The company reported a 7.11% yoy increase in net profit to IDR 1.14T in
2024, driven by net sales growth of 1.86% to IDR 3.38T, primarily from alcoholic beverage
products. (Kontan)
PGEO Expands into Lab Services and Geothermal Tech to Drive Long-Term
Growth
PT Pertamina Geothermal Energy Tbk (PGEO) is launching two new business lines to strengthen
its financial performance and global presence. The first is geothermal lab services, leveraging
existing in-house facilities with no additional investment required, projected to start generating
returns in 2026 with strong growth through 2034. The second is the commercialization of
Flow2Max, a two-phase fluid flowmeter tailored for geothermal use, targeting markets like the
U.S., New Zealand, and the Philippines. With an investment of IDR 2.9B, PGEO projects high
profitability, with post-tax margins of 53.33% and a return on investment of 88.1%. (Bisnis
Indonesia)
PLIN to Distribute IDR 339.43B in Dividends
PT Plaza Indonesia Realty Tbk (PLIN) will distribute a cash dividend of IDR 339.43B, or
approximately 34% of its 2024 net profit, to shareholders, as decided during its Annual General
Meeting on 16 May 25. Each share will receive a dividend of IDR 96, with key dates including the
cum dividend for the regular and negotiated markets on May 26, and the dividend payment
scheduled for 4 Jun 25. Despite being under suspension since Jan 25, PLIN’s dividend yield as of
19 May stands at 3.82%. In 1Q25, the company reported a slight 3.45% yoy decline in net profit to
IDR 130.11B. (Kontan)
TLKM to Launch IDR 3T Share Buyback Pending Shareholder Approval
PT Telkom Indonesia Tbk (TLKM) has announced plans to conduct a share buyback of up to 10%
of its paid-up capital, pending approval at the Annual General Meeting of Shareholders on May
27, 2025. The company has allocated up to IDR 3T for the buyback, aiming to execute it prudently
based on market conditions. According to VP of Investor Relations Octavius Oky Prakarsa, the
move reflects Telkom’s confidence in its future performance amid improving macroeconomic
and industry outlooks. The buyback is also intended to provide flexibility in execution timing
and enhance shareholder value. (Kontan)
