Aldira Sunrise 29 Agustus 2024

Economy: Housing and food expenditures for the middle class fell in 2024
Middle-class housing and food expenditures decline in 2024. In 2014, the middle class’ expenditure on food was 45.53%, and for housing at 32.67%. However, in 2024, the spending declined to 41.67% for food and 28.52% for housing. Meanwhile, spending for party purposes increased from 0.75% to 3.18%, entertainment from 0.22% to 0.38%, taxes and fees from 1.62% to 4.53%, vehicles from 2.97% to 3.90%, and other goods and services also increased from 4.58% to 6.48%. Furthermore, vehicle spending also increased from 2.97% to 3.90%, durable goods from 1.72% to 2.29%, and clothing from 2.18% to 2.44%. (Kontan)
DMAS allocates IDR 1T capex to increase land bank
Puradelta Lestari (DMAS) targets to realize IDR 1T capex by the end of 2024. Adding land banks is the company’s main concern amidst increasingly depleting reserves. DMAS noted that the land bank as of June 2024 was at 723 ha, which decreased significantly from 1,276 ha in 2020. The majority of the land bank currently comes from the commercial segment, reaching 358 ha. Meanwhile, industry and residential are 198 hectares and 167 hectares respectively. The company expects that the land bank will be enough for commercial and residential development in the next 20 to 25 years. (Bisnis Indonesia)
SIDO targets export sales contribution to 15%
Sido Muncul (SIDO) will expand its export market to several countries such as Vietnam and several countries in Africa. This is in line with the company’s export contribution target, which is expected to increase to 15% in the next 3-5 years. The company has targeted Vietnam to have the first delivery in 2H24 and they are also in talks with other countries on several African continents. Performance-wise, export sales growth in 1H24 reached 73% yoy and contributed 8% to SIDO’s total sales. It is noted that Malaysia is SIDO’s main export destination country, where export sales to Malaysia contribute 4% to total sales, followed by the Philippines at 1-2%, and Nigeria at 1-2%. (Kontan)