Economy: Bank Indonesia Cuts Interest Rate to 5.50% Amid Inflation Control
and Rupiah Stability Efforts
Bank Indonesia (BI) has decided to cut its benchmark interest rate (BI Rate) by 25 basis points
to 5.50% during its Board of Governors Meeting on May 20-21, 2025. The deposit facility rate was
also lowered to 4.75%, and the lending facility rate to 6.25%. Governor Perry Warjiyo stated that
this decision aligns with the forecast of controlled low inflation for 2025 and 2026, the need to
maintain exchange rate stability, and efforts to support sustainable economic growth.
Recognizing the volatility of the rupiah amid global economic uncertainty, BI remains
committed to daily interventions in the foreign exchange market, including Non-Deliverable
Forward (NDF) transactions in Hong Kong, Europe, and New York, as well as spot market
operations, Domestic NDF, and government bond purchases. As of May 20, 2025, BI has acquired
IDR 96.41T in government bonds to stabilize the economy, amid shifting capital flows toward
emerging markets, including Indonesia. (Bisnis Indonesia)
Economy: Danantara to Drive Over 350 Mergers and Acquisitions to Reshape
Indonesia’s SOE Landscape
Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara) is launching an ambitious
plan to execute more than 350 mergers and acquisitions across Indonesia’s State-Owned
Enterprises (SOEs) and their subsidiaries within the next 1–2 years. This large-scale consolidation
follows a comprehensive review of each entity’s business fundamentals and aims to enhance
efficiency, focus, and global competitiveness. As part of this initiative, Danantara is developing
a detailed matrix to classify SOEs by industry, expected to be completed by early Q4 2025. The
agency also targets a major reduction in the number of SOEs and subsidiaries from 888 down
to fewer than 200 through strategic mergers, turnarounds, or liquidations. The overall goal is to
create a leaner, stronger portfolio of state-owned entities with scalable operations and improved
financial performance. (IDX Channel)
ALDO Shortens Buyback Period to June 11
PT Alkindo Naratama Tbk (ALDO) has shortened its share buyback period to May 8-June 11, 2025,
from the original period of May 8-July 7, 2025, due to the upcoming Annual General Meeting of
Shareholders on June 12, 2025. The company aims to buy back shares worth IDR 10B to maintain
fair stock prices, with the buyback to be funded from internal cash reserves. ALDO’s shares have
been stable at IDR 490 in the past five trading days. The company believes the buyback will not
impact its business operations or growth. (IDX Channel)
CAMP Skips 2024 Dividend to Strengthen Capital for Future Expansion
PT Campine Ice Cream Industry Tbk (CAMP) will not distribute dividends for fiscal year 2024, the
first since 2020, redirecting its IDR 97.1B net profit to reserves and retained earnings. This move
reflects a cautious stance amid current economic volatility and declining market demand. While
recent expansion plans including a land purchase near its Surabaya plant are under review,
management remains optimistic about future growth. With ice cream consumption in
Indonesia still low at one liter per capita annually, CAMP aims to drive innovation and strengthen
its market leadership in a growing and competitive industry. (IDX Channel)
ENRG Plans Private Placement to Boost Capital and Fund Expansion
PT Energi Mega Persada Tbk (ENRG) has announced a capital increase plan through a private
placement by issuing 2.48 billion new shares, equivalent to 10% of its total issued and paid-up
shares. The share issuance price will be at least 90% of the average closing price over the past
25 trading days, with the current share price at IDR 216 as of 20 May 25. Proceeds from this
issuance, after deducting related costs, will be used for working capital and capital expenditures
of its subsidiaries. The move may lead to a maximum shareholder dilution of 9.091% and is
expected to increase the company’s total assets and equity by 2.10% and 4.94%, respectively.
Shareholder approval will be sought at an Extraordinary General Meeting on 26 Jun 25. (IDX
Channel)
HUMI to Distribute IDR 18.04B in Dividends
PT Humpuss Maritim Internasional Tbk (HUMI) will distribute a dividend of IDR 18.04B,
equivalent to IDR 1 per share, representing 9.70% of its 2024 net profit of USD 11.51M. The
company’s revenue rose 20.02% year-on-year to USD 127.6M in 2024, driven by strong demand
for chemical transportation and marine support services. HUMI plans to acquire 10 new vessels
in 2025, including oil and chemical tankers, tugboats, and a Platform Supply Vessel, to support
its business growth. In Q1 2025, the company added two oil and chemical tankers to its fleet.
(Bisnis Indonesia)
INCO to Distribute USD 34.66M Dividend for FY24
PT Vale Indonesia Tbk (INCO) will distribute a cash dividend of USD 34.66M for the 2024 fiscal
year. Based on the Annual General Meeting of Shareholders (AGMS) held on 16 May 25,
shareholders will receive USD 0.00329 per share, representing 59.97% of the company’s 2024 net
profit of USD 57.77M. INCO also reported an unrestricted retained earnings balance of USD 2.18B
and total equity of USD 2.74B. Shareholders must be recorded by 28 May 25 to be eligible, with
dividend payments scheduled for 16 Jun 25. Key dates include cum dividend on 26 May 25 for
regular and negotiation markets, and 28 May 25 for cash market. (IDX Channel)
INTP Declares IDR 867B Dividend, Announces Share Buyback Amid Lower Q1 Performance
PT Indocement Tunggal Prakarsa Tbk (INTP) has approved a cash dividend of IDR 867B (IDR 259
per share) for fiscal year 2024, with the remainder of net profit retained for future use. In an
Extraordinary General Meeting, shareholders also approved a share buyback program of up to
IDR 2.25T through May 2026 and a capital reduction via the cancellation of 165.6 million treasury
shares. The company recorded Q1 2025 sales volume of 4.3 million tons, down 4% year-on-year
due to the earlier Idulfitri holiday, which impacted distribution. Revenue fell 2.6% to IDR 3.9T,
while net income dropped 11.5% to IDR 210.7B. As of March 31, 2025, Indocement held IDR 4.2T in
cash and equivalents. The AGM also confirmed leadership changes, including the appointment
of Suharso Monoarfa as commissioner and reappointment of Sunnira Ly as director. (Investor)
KPIG to Raise IDR 9.75T through Private Placement
PT MNC Land Tbk (KPIG) plans to raise IDR 9.75T through a private placement by issuing up to
9.75 billion shares with a par value of IDR 100 each, equivalent to 10% of its paid-up capital. The
funds will be used to finance the development of MNC Lido City, including projects such as
Trump Golf Clubhouse, Hyatt Regency Lido Resort, Lido Hill Trump Residence, Lido World
Garden, and a world-class theme park. Existing shareholders will face up to 9.09% dilution in
ownership. The plan requires approval from shareholders at an Extraordinary General Meeting
on June 30, 2025. (BisnSis Indonesia)
WSKT Begins USD 72.6M Airport Project in Timor Leste
PT Waskita Karya (Persero) Tbk (WSKT) has commenced construction on facilities at Presidente
Nicolau Lobato International Airport (PNLIA) in Timor Leste, with a project value of USD 72.6M
(approximately IDR 1.1T) targeted for completion by 2028. The groundbreaking ceremony took
place on 20 May 25, marking a key milestone for the company’s international expansion. The
project includes extending the runway to 2,100 meters, building 90-meter Runway End Safety
Areas (RESA) on both ends, a taxiway, apron, and Air Traffic Control Tower (ATC), along with an
Airfield Ground Lighting (AGL) system to support night operations. (IDX Channel)
