Aldira Sunrise 21 November 2024

• Economy: BI rate kept at 6% as of Nov 24
Bank Indonesia decided to hold the benchmark interest rate (BI Rate) at the level of 6% at
the November Board of Governors Meeting. In today’s announcement, Bank Indonesia also
set the Deposit Facility interest rate at 5.25% and the Lending Facility interest rate at 6.75%.
This decision was consistent with the direction of monetary policy to ensure inflation remains
under control within the target of 2.5 ± 1% in 2024 and 2025, as well as to support sustainable
economic growth. (Bisnis Indonesia)
• ACES recorded 4.8% SSSG in Oct 24
Aspirasi Hidup Indonesia (ACES) posted a SSSG of 4.8% yoy in Oct 24. Ex Java area recorded
5.2% yoy, followed by Java regions outside Jakarta booked a 4% yoy increase, and Jakarta of
a more modest 2.7% yoy growth. This was due to seasonality factors and a high comparison
base from the previous year. In Oct, the company opened 4 new stores located in Kemang,
Pare-pare, Banjarmasin, and Pontianak, which brings the total number of new stores to 15. (ACES)
• Akulaku to reduce ownership at BBYB
Akulaku Silvrr Indonesia, the controlling shareholder of Bank Neo Commerce (BBYB), has
announced plans to reduce its ownership stake to a maximum of 30%. This decision was
approved during the Extraordinary General Meeting of Shareholders (RUPSLB) held on 15 Nov 24. The divestment will be executed gradually, with a minimum reduction of 2% per year over a maximum period of five years. This strategic move aims to comply with regulatory requirements and optimize Akulaku’s investment portfolio. (Kontan)
• LEAD will conduct private placement of IDR 325.5B
Logindo Samudramakmur (LEAD) has announced plans to conduct a private placement to
convert debt amounting to USD 20M (approximately IDR 325.5B) into equity. The company
intends to issue 1.75B new shares at IDR 186 per share, representing 30.17% of the total issued
and fully paid capital. Key participants in this private placement include Jalan Terang
Samudera, which will acquire a 23.19% stake, OCP Asia Fund IV (SF1) Pte. Ltd. with 2.59%, and
OCP Asia Fund V (SF1) Pte. Ltd. with 4.49%. This strategic move aims to strengthen LEAD’s
financial position by reducing debt and improving liquidity, potentially enhancing
profitability and shareholder value. (Kontan)
• UNTR targets 4,350 – 4,500 units of Komatsu sales in FY24
United Tractors (UNTR) is targeting sales of Komatsu heavy equipment to reach 4,350 – 4,500
units this year. In 9M24, sales of Komatsu reached 3,321 units (-23.91% yoy) with a market
share of 27%. Referring to UNTR data, sales were dominated by the mining sector at 65%,
followed by construction at 14%, plantations at 12%, and forestry at 9%. According to management, several sectors have postponed purchasing equipment because they are waiting for the completion of the series of general elections and the formation of a new government. Although the new government has started running, the company cannot guarantee that there will be an acceleration in sales in the remainder of this year. (Bisnis Indonesia)