Aldira Sunrise 22 Agustus 2024

Economy: BI holds the benchmark rate at 6.25% on Aug 24
Bank Indonesia (BI) decided to maintain the BI rate at 6.25% on Aug 24. The decision was taken to further strengthen the stability of the rupiah exchange rate and to ensure inflation remains under control within targets at around 2.5% plus or minus 1%. Apart from holding the BI rate, the central bank held the deposit facility interest rate at 5.5% and the lending facility interest rate at 7%. (Kontan)
ERAL will open 25 new stores in 2H24
Sinar Eka Selaras (ERAL) continues to expand its retail networks. After opening 25 new stores in 1H24, the company targets to open 25 new stores in 2H24. Apart from that, adding new brands and new product categories is also one of the focuses for ERAL this year. The company has prepared a capex budget of IDR 140B for this year and has realized 30% of the budget in 1H24, which is mainly used for new store expansion and also renovation of existing stores. As of 1H24, ERAL has operated a total of 141 outlets in Indonesia, where 25% of them (35 outlets) are located outside Java and Bali. (Kontan)
PANI’s net profit rose 34.97% yoy
Pantai Indah Kapuk Dua (PANI) recorded an IDR 284.86B net profit in 1H24 (+34.97% yoy). This was in line with revenue, which increased slightly by 0.21% yoy to IDR 1.35T. In detail, the residential sector was the largest contributor at IDR 607B (45% of total revenue) followed by the commercial land plot sector of IDR 528B and commercial products of IDR 181B. The increase in PANI’s net profit was due to the consolidation of additional subsidiaries carried out at the end of 2023, which was funded by the second rights issue. (Kontan)