• BBCA posted IDR 54.8T net profit in 2024
Bank Central Asia (BBCA) recorded a net profit of IDR 54.8T in 2024 (+12.7% yoy). This was in
line with the credit distribution of IDR 922T (+13.8% yoy). The company’s financing in 2024
was supported by corporate credit with the highest growth segment, namely 15.7% yoy to
IDR 426.8T. Commercial credit rose 8.9% yoy to reach IDR 137.9T. Meanwhile, the SME
segment grew 14.8% yoy to IDR 123.8T, while the consumer segment rose 12.4% yoy to IDR
223.7T. The growth in the consumer segment was driven by motor vehicle loans, which rose
14.8% to reach IDR 65.3T, and mortgages which grew 11.2% yoy to IDR 135T. In terms of
funding, BCA’s total collection of low-cost funds or CASA contributed around 82% of total
third-party funds, growing 4.4% to reach IDR 924T. Meanwhile, in terms of performance
ratios, the financing quality has improved with a loan at risk of 5.3% in 2024, an improvement
from 6.9% in 2023. BCA’s NPL is maintained at 1.8% in 2024. (Bisnis Indonesia)
• BREN collaborates with SLB to develop geothermal technology
Barito Renewables Energy (BREN) through its subsidiary Star Energy Geothermal,
collaborates with global energy technology company SLB. Star Energy and SLB collaborate
to accelerate the application of cutting-edge technology in the development of geothermal
assets. This collaboration would combine Star Energy Geothermal’s skills in geothermal
development, with SLB’s decades of experience in developing and industrializing
technological solutions for the energy sector. The collaboration aims to apply technology
that can change the economics of conventional geothermal projects and increase the
recovery rate of geothermal assets. Currently, BREN manages an installed geothermal
electricity capacity of 886 MW. In line with strategic expansion to support the energy
transition, BREN’s goal will be fulfilled by utilizing advanced technology to increase the
efficiency and economics of assets. Under this collaboration agreement, SLB and Star Energy
Geothermal will focus on developing and implementing technologies for subsurface
characterization, drilling and production of geothermal assets. (Kontan)
• HILL will conduct a 1:5 stock split
Hillcon (HILL) conveyed plans to conduct a stock split with a ratio of 1: 5. This corporate action
will result in changes in the number of shares and nominal value of HILL shares. With a ratio
of 1:5, the number of HILL shares will change from the previous 2,948,300,000 (2.94B) shares
to 14,741,500,000 (14.74B) shares after the stock split. The nominal value of HILL shares will
change from IDR 100 per share to IDR 20 per share after the stock split. HILL management
revealed that the stock split was carried out to increase the liquidity of HILL share trading on
the IDX, by increasing the number of shares in circulation. It is also hoped that the stock split
will increase the number of HILL shareholders. To carry out this corporate action, HILL will
first ask for approval at the Extraordinary GMS which is planned to be held on 3 Mar 25.