• AVIA enters final acquisition phase of a glue company
Avia Avian (AVIA) is entering the final stages of acquiring a building materials glue or
adhesive company. The company targets the acquisition to be completed this month and
hopes that the acquisition of this glue company can support revenue growth from the
adhesive business line. The process of acquiring the family company started 2 years ago.
However, it took a relatively long time to complete the company acquisition process in
Indonesia. Once the acquisition is completed, the company will control distribution for all
building materials stores in Indonesia. The transaction would be carried out in several stages,
with the first phase’s budget being several hundred billion. (Bisnis Indonesia)
• EXCL to distribute IDR 1.12T dividends
XL Axiata (EXCL) proposed to distribute dividends of IDR 1.12T from net profit in FY24. This
amount is equivalent to 62% of net profit. Later, each EXCL shareholder will receive a dividend
of IDR 85.7 per share. The dividend amount is greater than the dividend in FY23 of IDR 635.55B
or IDR 48.6 per share, equivalent to 50% of net profit. To obtain approval, EXCL will hold an
Annual GMS on 25 Mar 25. (Kontan)
• PANI booked IDR 623.91B net profit in 2024
Pantai Indah Kapuk Dua (PANI) recorded a net profit of IDR 623.91B in 2024 (+131.04% yoy), in
line with revenue, which increased 31.21% yoy to IDR 2.83T. In detail, the real estate segment
contributed the majority to the company’s revenue, amounting to IDR 2.83T. In this segment,
sales of land and buildings contributed IDR 2.77T. However, PANI’s cost of revenue also
increased to IDR 1.24T last year from IDR 1.08T in 2023. As a result, the company pocketed a
gross profit of IDR 1.58T at the end of 2024, still up 46.91% yoy from IDR 1.07T. (Kontan)
