Aldira Sunrise 27 September 2024

Economy: The Ministry of Finance is aiming for IDR 3.8T from excise on sweet drinks
The Ministry of Finance (Kemenkeu), is targeting a state revenue from the implementation of packaged sweetened beverage excise (MBDK) worth IDR 3.8T in 2025. The target This has been included in the 2025 State Revenue and Expenditure Budget (APBN). However, this target is lower than this year’s target of IDR 4.3T. Previously, the DPR had provided input regarding the MBDK excise rate of 2.5% for the initial stage or next year. Last year, 2024 APBN included an MBDK excise target of IDR 4.39T. In reality, the MBDK excise failed to be implemented this year and will roll over to next year. (Bisnis Indonesia)
BRIS posted a net profit of IDR 4.5T
Bank Syariah Indonesia (BRIS) recorded a net profit of IDR 4.5T (+21% yoy). BRIS’s performance in August was quite good with net profit reaching IDR 541B (+17% yoy), even though it was stagnant on a monthly basis. This condition occurred due to increased provision expenses of up to 99% mom. Apart from that, the operational expenses also increased by 11%, thereby increasing the Cost to Income Ratio (CIR) to 48.9%. Even so, BRIS maintains good asset quality where the cost of credit (CoC) is at a low level of 0.9%. BRIS credit distribution grew 14% to IDR 261T, while Third Party Funds (DPK) grew 16% to IDR 298T. This made the Loan to Deposit Ratio (LDR) position increase monthly to 87.6%, although it was lower compared to August 2023, which at that time reached 88.9%. (IDX Channel)