Aldira Sunrise 24 September 2024

CPO: The implementation of PMK 62/2024 will reduce costs for exporters
The Indonesian Palm Oil Entrepreneurs Association (GAPKI) revealed that the reduction in export duties by PMK 62/2024 will reduce the expenditure of palm oil exporting companies, including derivatives such as CPO by up to 3.2%. Previously, the Ministry of Finance officially issued PMK 62/2024, which regulates service rates for the Public Service Agency for the Palm Oil Plantation Fund Management Agency (BPDPKS). One of the main points in the PMK is reducing export duties for palm oil products. Previously, PE was applied progressively following global crude palm oil (CPO) prices. The regulation regulates five groups of palm oil products and their derivatives. Specifically, the CPO that is included in group II exports is subject to an export duty of 7.5% of the CPO Reference Price. GAPKI expects this new tariff will at least make Indonesian CPO prices more competitive and encourage exports. (Kontan)
RMKE sold 1.76M MT coal in 8M24
RMK Energy (RMKE) recorded a coal sales volume of 1.76M metric tons (MT) in 8M24 (+12.4% yoy). In August alone, the mine owned by RMKE, Truba Bara Banyu Enim (TBBE) produced 121.9K MT of coal (+26.8% yoy). In total, coal production from RMKE’s mines has contributed 32.2% of RMKE’s total coal sales volume in 8M24. From the logistics services segment, RMKE loaded barges with a volume of 5.4M MT of coal in 8M24 (-7.4% yoy). Even though the company was hampered by extreme weather in the 1H24, operational performance from Apr to Aug 24 continuously showed significant growth. In Aug, RMKE had loaded 96 barges with a volume of 776.5K MT (+9.6% yoy). RMKE has achieved its coal sales and service volume targets of 50.3% and 54.6% respectively in 8M24. Besides increasing volume, coal sales prices tend to increase and stabilize from 2Q24 until now. (IDX Channel)
TOTL’s new contract has reached 91% of the FY24 target in 8M24
Total Bangun Persada (TOTL) recorded new contracts of IDR 4.1T in 8M24, reaching 91% of the FY24 target of IDR 4.5T. The new contracts obtained are for the construction of hotels, industrial, educational buildings, and others. TOTL has realized a capex of IDR 3.04B in 6M24, 30.4% of the total capex budget in 2024 of IDR 10B. (Kontan)