Aldira Sunrise 25 November 2024

• CLEO’s net profit rose 61% yoy in 9M24
Sariguna Primatirta (CLEO) reported a 61% yoy increase in 9M24 net profit, reaching IDR
336.5B. Revenue rose by 32% yoy to IDR 2.0T. The company’s growth is attributed to its diverse
product portfolio, including various sizes of bottled water and premium offerings like Cleo
Platine and Sparkling Water. In Nov 24, CLEO expanded its product line by introducing a 1-
liter bottled water option, catering to consumers with active lifestyles. To meet increasing
demand, CLEO has expanded its production capacity, now operating 32 factories nationwide.
The latest facility in Palembang, South Sumatra, is operational, with additional plants under
construction in Palu (Central Sulawesi), Pontianak (West Kalimantan), and Pekanbaru (Riau).
(Emiten News)
• LPPF will close down a total of 13 outlets this year
Matahari Department Store (LPPF) has closed 10 outlets and will close another 3 by the end
of this year. Seven additional outlets are under supervision or watchlist, bringing the total
number of outlets under watch to 20. LPPF also stated that it would remain selective in the
new outlet pipeline and postpone the opening of new outlets until 2025. (Bisnis Indonesia)
• NCKL’s revenue grew 18% yoy to IDR 20.38T in 9M24
Trimegah Bangun Persada (NCKL) achieved revenue of IDR 20.38T in 9M24 (+18% yoy). In line,
net profit grew 8% yoy to IDR 4.84T. The stellar performance was supported by the rise in
production volume from its mining and processing business. Nickel ore production grew 12%
yoy to more than 16.27M wet metric tons (wmt). Meanwhile, FeNi production from the Rotary
Klin Electric Furnace (RKEF) smelter was recorded at 95,813 tons (+39% yoy). The HPAL facility
produced 71,531 tons of MHP Ni (+47% yoy). The second HPAL facility, Obi Nickel Cobalt (ONC),
started its first production line on Apr 24 and all three production lines successfully reached
full capacity in Aug. This contributed significantly to the overall total production of HPAL
facilities and the increase in nickel ore sales to the mining division. Additionally, HPAL’s first
facility began producing and exporting electrolytic cobalt in Aug, adding to the company’s
product range. (Investor Trust)
• TCPI allocates IDR 700B capex budget FY25
Transcoal Pacific (TCPI) has allocated a capital expenditure (capex) of IDR 700B for 2025,
aiming to rejuvenate its fleet to support ongoing operations. The investment will fund the
acquisition of two pusher barges, four boats, and six barges. Financing will combine internal
cash reserves and bank loans. This strategic move is expected to enhance operational
efficiency and increase cargo capacity, with a revenue target of IDR 2.2T for 2025. (Emiten
News)
• TSPC to distribute IDR 112.74B interim dividend
Tempo Scan Pacific (TSPC) will distribute an IDR 112.74B interim dividend or IDR 25 dividend
per share, which is based on its 9M24 net profit of IDR 1.08T. The cum dividend date for the
distribution is on 2 Dec 24, while the payment date is on 19 Dec 24. (IDX Channel)