- Muhammadiyah to relocate saving fund allocation from BRIS
Muhammadiyah, one of Indonesia’s largest Islamic organizations, has decided to reallocate its savings funds from Bank Syariah Indonesia (BRIS) to minimize concentrated risks and stimulate fair competition within the Sharia banking sector. It is unclear how much of the funds were reallocated, but the Jakarta Globe newspaper estimated that Muhammadiyah had put around IDR 13T. (Jakarta Globe)
What we think: If Muhammadiyah allocated an IDR 13T savings account, it will be around 10.4% of BRIS’ SA and 4.4% of BRIS’ total third-party fund. While we believe Muhammadiyah will not take out all the funds, it will have some impact on BRIS CoF. - CNMA ready to add 100 screens in 2024
Nusantara Sejahtera Raya (CNMA) is ready to expand in 2024 by adding 100 new screens throughout Indonesia. CNMA has prepared a capex budget of around IDR 775B to realize this year’s plan. (Kontan)
What we think: CNMA has 240 cinema locations with a total of 1,280 screens and a total Gross Box Office (GBO) of IDR 3.5T in 2023. Most of the cinemas are located in Java (140), followed by Sumatra (40), Kalimantan (15), Sulawesi (12), Bali and Nusa Tenggara (8), Papua (3), and Maluku Islands (2).