Aldira Sunrise 26 November 2024

• ABMM acquire 99.94% of CTBN owned entities
ABM Investama (ABMM), through its wholly-owned subsidiary Cipta Krida Bahari (CKB), has
signed a binding sale and purchase agreement on 21 Nov 24 to acquire significant stakes in
two entities from Citra Tubindo (CTBN). CKB will acquire 99.94% of shares in Sarana Citranusa
Kabil (SCN), which operates in maritime port services and related activities. CKB will also
acquire 99.9% of shares in Citra Pembina Pengangkutan Industries (CPPI), which specializes
in port services and related operations. This strategic acquisition aims to expand ABMM’s
logistics business, enhancing its service offerings and operational capacity. The transaction
is not classified as an affiliated transaction or a conflict of interest under OJK regulations
POJK 42/POJK.04/2020 and POJK 17/POJK.04/2020. (Emiten News)
• ERAL executes transactions of IDR 94.19B
Sinar Eka Selaras (ERAL) acquired JDSports Fashion Indonesia (JDFI) shares of IDR 89.24B
and JDSports Fashion Distribution (JDFD) shares of IDR 4.94B from JD Sports Fashion Plc (JD
UK). Following the completion of this series of transactions, JD UK will no longer be a
shareholder of JDFI and JDFD. Full control of JDFI and JDPF will be under ERAL. However,
the partnership with JD Sports will continue through franchise collaboration between JDFI
and JD UK, where the agreement will become effective on 21 Nov 24 after the series of
processes are completed.
• MR DIY set the IPO price at IDR 1,650 to IDR 1,870 per share
Daya Intiguna Yasa, which owns the MR DIY brand, will hold an IPO with an offering price of
IDR 1,650 to IDR 1,870 per share. Based on the published prospectus, MR DIY will offer
2,519,039,400 or 2.51B shares at a nominal value of IDR 25 per share, of which 2,267,135,400
(9%) shares are owned by the selling shareholders of Azara Alpina Sdn. Bhd. and 251,904,000
(1%) new shares issued from the company’s portfolio. Thus, MR DIY can potentially gain IPO
funds of around IDR 4.15T to IDR 4.71T. The initial offering period is estimated to be held on
25 Nov – 3 Dec 24 with the IPO effective date estimated at 11 Dec 24. As of 1H24, MR DIY has
recorded a net profit of IDR 532.15B (+228.44% yoy), along with revenue growth of 92.54% yoy
to IDR 3.2T. These sales were generated from 824 MR DIY stores operating throughout
Indonesia, which carry more than 18,000 SKUs per store on average. The company operates
all stores directly on rented land. Starting in 2025 after the IPO, the company commits to
distribute dividends with a ratio of 40%. (Bisnis Indonesia)
• WINS performance boosted by oil and gas investment
Wintermar Offshore Marine (WINS) has reported a significant improvement in financial
performance for 9M24, driven by increased global oil and gas investments. The company’s
operating profit surged by 127.1% yoy to USD 11.8M. Net profit, including gains from vessel
sales, rose to USD 19.7M compared to USD 2.8M in 9M23. In the Owned Vessel segment,
revenues increased by 36.7% yoy to USD 45.0M, fueled by higher charter rates, particularly in
the higher-tier segment. Gross profit from Owned Vessels rose by 124.7% yoy to USD 15.5M,
with average charter rates 23.1% higher and vessel utilization improving from 65% to 67%. The
Chartering Division also saw a 20.9% yoy increase in gross profit, despite an 11.2% yoy decline
in revenue. Total revenue for 9M24 grew by 20.1% yoy to USD 61.5M, with total gross profit up
by 81.2% yoy to USD 18.4M. (Kontan)