• AKRA aims for IDR 2.8T net profit in FY25
AKR Corporindo (AKRA) targets a net profit of up to IDR 2.8T in 2025. The company sees
opportunities from BP, especially in the retail business segment which has quite significant
growth. Currently, AKRA is focused on expanding the number of gas stations and AKRA
logistics and plans to add around 10-15 more gas stations in big and satellite cities with a total
of 70-80 gas stations being operational. Meanwhile, for land sales in industrial areas at JIIPE
this year, AKRA is targeting sales of 100 ha of land this year. (Bisnis Indonesia)
• HRUM allocates USD 400B capex in FY25
Harum Energy (HRUM) has prepared a capex of around USD 400M. Most of it will be used to
develop nickel ore mining operations in the subsidiary, namely Position. HRUM also
prioritizes the completion of the construction of the High-Pressure Acid Leach (HPAL) project
at Blue Sparking Energy (BSE). Last year, the majority of HRUM’s capex was also used for
developing the nickel business unit. By the end of 2024, Renny estimates that HRUM has
realized a capex of around USD 500M, which includes down payments for the purchase of
fixed assets. In line with intensive expansion, the nickel business has also become a support
for HRUM’s performance. In 9M24, the majority of HRUM’s consolidated revenue came from
the nickel business unit. HRUM expects an increase in nickel production in 2025, supported
by HRUM’s second smelter through Westrong Metal Industry (WMI), which is fully
operational. HRUM is also increasing the utilization of smelter production capacity, as well as
increasing nickel ore production from the Position mine so that HRUM production is more
integrated. Simultaneously, HRUM is focused on encouraging the HPAL project at BSE to
proceed according to plan to start contributing at the beginning of next year. The progress
of the HPAL project has now reached more than 50%. For the nickel business unit, the
company will strive to increase the operational efficiency of projects that are already
underway, considering commodity market conditions which are expected to remain
challenging this year. Meanwhile, for the coal business, HRUM has no plans to acquire new
assets in this segment and will focus on managing and developing existing assets instead.
HRUM also maintains coal production volume at an optimal level so that production costs
can be controlled. The company is targeting coal production volumes that are slightly lower
than last year, following the new mining plan to better control production costs. (Kontan)
• PLIN denies news of Grand Hyatt Jakarta Hotel sales
Plaza Indonesia Realty (PLIN) Corporate Secretary, Umbas Rombe, denied the rumors of the
Grand Hyatt Jakarta Hotel being sold for IDR 12.5T. Based on this statement, he appealed to
the public to be more careful and ignore any claims or information related to the news of the
sale of the Grand Hyatt Jakarta Hotel. (Kontan)
