Aldira Sunrise 25 September 2024

Cigarettes: Excise tax will not increase in 2025
The Director General of Customs and Excise at the Ministry of Finance, Askolani, revealed that the excise tax on tobacco products (CHT) will not increase next year. Based on the latest discussions with the House of Representatives (DPR), the 2025 APBN also considers no tariff increase. Despite this, the government will continue to adjust retail selling prices for tobacco products next year. In formulating the CHT policy in 2024, one consideration is the downtrading phenomenon that occurred along with the increase in CHT rates. Previously, the DPR RI’s State Financial Accountability Agency encouraged the government to implement an excise tax rate on tobacco products (CHT) for machine-made white cigarettes (SPM) and machine-made kretek cigarettes (SKM), a minimum of 5% for the next two years. The recommended minimum rate of 5% is lower than in 2023 and 2024, which are subject to an average rate of 10%. (Kontan)
HEXA to distribute a USD 0.04 dividend per share
Hexindo Adiperkasa (HEXA) announced that it would distribute dividends of USD 0.04643 per share, amounting to USD 38.99M or 70% of 1Q24 net profit. HEXA management also revealed that the company managed to record revenue of USD 612.3M in 1Q24, most of which came from heavy equipment sales & rentals amounting to USD 398.61M (65% of total sales). A total of 2,967 units of heavy equipment have been sent to customers with excavator sales totaling 2,614 units. The agricultural sector recorded the highest sales quantity contribution of 998 units (38%), followed by the construction sector of 651 units (25%), the forestry sector of 619 units (24%), and the mining sector of 324 units (12%), and other sectors of 22 units (1%). The company estimates revenue of USD 572.8M and a net profit of USD 44.06M for FY24. (Bisnis Indonesia)
RAAM spent IDR 511B to purchase MNC Pictures shares
Tripar Multivision Plus (RAAM) purchased 106,675 new shares issued by MNC Pictures worth IDR 511.02B. RAAM will become a shareholder of MNC Pictures with 10% ownership after the transaction. Meanwhile, the majority shareholder of MNC Pictures is still owned by MNC Digital Entertainment (MSIN) with ownership of 960,067 shares or reaching 89.99% of the total issued and fully paid capital. RAAM management said that the shareholders of MNC Pictures (MNCP) had agreed to waive the right to take part in advance of new shares issued or preemptive right. In management’s view, the transaction will combine expertise that will enable RAAM and MNCP to strengthen content distribution across multiple platforms. Starting from the television segment, social media, to cinema. The synergy between RAAM and MNCP also has the opportunity to produce diverse monetization. As part of MNC Media Media & Entertainment, MNCP will offer additional monetization opportunities for RAAM content on free-to-air (FTA), Pay TV, OTT, and social media. On the other hand, the Platinum Cineplex cinema owned by RAAM’s subsidiary will allow MNCP to monetize its films through the distribution of cinematographic works. (Bisnis Indonesia)