Aldira Sunrise 6 November 2024

• Economy: Household consumption slowed down in 3Q24
The Central Statistics Agency (BPS) noted that household consumption in 3Q24 grew 4.91%
yoy, slower compared to 4.93% in 2Q24 and 5.05% in 3Q23. Plt. Head of BPS, Amalia
Adininggar Widyasanti, said the slowdown in household consumption during this period was
influenced by seasonal factors, as there was momentum of Ramadan, Eid al-Fitr, Eid al-Adha,
and long weekend holidays during 2Q24 which pushed consumption. Amalia added, that
although household consumption showed a slowdown, growth was still relatively stable. The
value of household consumption in 3Q24 reached IDR 2,993T. This is an increase compared
to the 3Q23 which amounted to IDR 2,787T. (Kontan)
• ADRO will distribute cash dividends
Adaro Energy Indonesia (ADRO) will conduct an Extraordinary General Meeting of
Shareholders (EGMS) on 18 Nov 24. ADRO intends to propose using a portion of the company’s
retained earnings as of 31 Dec 23 to be distributed as an additional final cash dividend in a
maximum amount of up to USD 2.62B. The meeting will also discuss a change in the
company’s name. The name change is a step to introduce a new identity as a holding that
will focus more on green business and developing environmentally friendly projects with the
Adaro Minerals and Adaro Green business pillars, after separating the thermal coal mining
business pillar and several companies. (Kontan)
• PSAB’s net profit rose 133% in 9M24
J Resources Asia Pasifik (PSAB) achieved a strong financial turnaround in 9M24, with net
profit increasing 133% to USD 4.45M from a loss of USD 13.4M in 9M23, supported by an 86.78%
rise in revenue to USD 173.86M due to higher production. Gross profit improved 99% to USD
98.2M, though costs of goods sold rose sharply to USD 75.66M. Pre-tax profit also saw
substantial growth, reaching USD 28.73M, a 1,222% increase from a previous loss, despite
increased administrative and tax expenses. Total liabilities grew to USD 482.68M, indicating
heightened financial obligations. (EmitenNews)
• SIMP’s net profit up 84% in 9M24
Salim Ivomas Pratama (SIMP) recorded an impressive 84% increase in net profit for 9M24,
reaching IDR 806.19B compared to IDR 437.68B in 9M23. Despite a 4.91% decrease in revenue
to IDR 11.23T, cost efficiencies helped drive a 32.87% rise in gross profit to IDR 2.87T. The
company benefited from a gain in the fair value of biological assets, which soared to IDR
166.87B. Operating income also improved, reaching IDR 1.85T, with financial income up to IDR
170.51B and financial expenses slightly lower. Total equity rose to IDR 22.58T, while liabilities
decreased slightly to IDR 13.12T. (EmitenNews)
• FILM will conduct private placement to raise IDR 2.69T
MD Pictures (FILM) has announced a private placement plan to issue 951,121,700 new shares,
representing 10% of its paid-up capital, at an exercise price of IDR 2,834 per share. This
initiative aims to raise approximately IDR 2.69T to support the company’s business expansion
and strengthen its capital structure. The private placement is scheduled for 8 Nov 24, with
the listing of new shares on the Indonesia Stock Exchange on 10 Nov 24. This strategic move
is expected to enhance FILM’s financial flexibility and support its growth initiatives in the
entertainment industry. (Stockwatch)