• Economy: Indonesia recorded USD 4.33B trade surplus in Mar 25
Indonesia recorded a trade surplus of USD 4.33B in Mar 25, up USD 1.23B from the previous
month, marking 59 consecutive months of trade surpluses since May 2020. The surplus was
primarily driven by non-oil and gas exports totaling USD 6B, with key contributors including
animal/vegetable fats and oils, mineral fuels, and iron and steel. Meanwhile, the oil and gas
trade balance posted a smaller deficit of USD 1.67B, compared to USD 1.74B in Feb. Mar
exports rose to USD 23.25B (+5.59% mom), while imports slightly increased by 0.38% to USD
18.92B. (Kontan)
• ACES booked 8.6% SSSG on Mar 25
Aspirasi Hidup Indonesia (ACES) reported an 8.6% yoy same-store sales growth (SSSG) on Mar
25, supported by festive Ramadan demand and the 13th-month salary disbursement that
boosted consumer spending. Java led regional growth at 9.8%, followed by Ex-Java at 8.7%
and Jakarta at 5.8%. Indicative sales rose 16%, contributing to an 8.8% total sales increase for
1Q25. The company expanded its footprint with a new AZKO store in Sorong, Papua, reaching
249 stores nationwide, and remains on track to open 25–30 new stores in 2025. Despite
expecting a sales correction in April due to the timing shift of Ramadan, the company
maintains its FY25 targets of ≥5% sales growth and ≥1% SSSG. (ACES)
• AGRO’s Digital Lending Jumps 81% in 2024
Bank Raya Indonesia (AGRO) experienced significant growth in digital lending in 2024, driven
primarily by its product “Pinang Dana Talangan” through BRILink agents. This product,
designed to support the capital needs of BRILink agents, grew by over 100% and contributed
substantially to the company’s digital financing growth. The bank’s digital lending growth
reached around 81% in 2024, outpacing the overall loan growth of around 5%. The success of
this product highlights Bank Raya’s advantage in leveraging the BRI Group ecosystem, with
access to over 1 million BRILink agents across Indonesia, enabling more inclusive and
widespread distribution of financial products. (IDX channel)
• MTLA booked IDR 469B net profit in 2024
Metropolitan Land (MTLA) reported a net profit of IDR 469B in 2024 (+12.37% yoy). This growth
was driven by an 18.52% yoy rise in operating revenue, which reached IDR 2.02T, which was
supported by strong performance in both residential sales and recurring income. Residential
sales, which contributed IDR 1.503T (+22.47% yoy), were boosted significantly by the
government’s VAT incentive program (PPN DTP), accounting for around 41% of the growth.
Recurring income rose 8.38% to IDR 518B, mainly from the company’s shopping malls and
hotel operations. Key residential contributors included Metland Cibitung, Metland Cikarang,
and Metland Cyber Puri while recurring revenue was led by Metropolitan Mall Bekasi and
Grand Metropolitan. (IDX Channel)
