Aldira Sunrise 7 November 2024

• Global: Trump re-elected as the new U.S. President
The re-election of Donald Trump as the U.S. president has introduced potential economic
shifts that may significantly impact Indonesia. Trump’s previous term was characterized by
protectionist trade policies and tariffs aimed at boosting domestic manufacturing and
reducing dependency on foreign imports. If he continues these policies, Indonesian exports
to the U.S., particularly in sectors like textiles, footwear, palm oil derivatives, seafood and
agriculture, could face additional tariffs or regulatory challenges. This could reduce demand
for Indonesian goods, impacting Indonesia’s export revenue and potentially leading to a
widening trade deficit.
A stronger U.S. dollar, often associated with Trump’s policies, may also affect Indonesia’s
economy. A robust dollar could lead to capital outflows from emerging markets, including
Indonesia, as investors seek higher returns in U.S. assets. This would place downward
pressure on the Indonesian rupiah, potentially raising the cost of imported goods and leading
to inflationary pressures within the country. Higher costs of imported raw materials could
squeeze margins for domestic companies, especially those in manufacturing and retail,
which depend on imports.
In the Indonesian stock market, sectors that are export-driven, may experience increased
volatility as investors react to anticipated trade policies. A weaker rupiah could support
export companies but would pressure sectors reliant on imported goods. Additionally, with
higher inflation, consumer spending may decline, impacting sectors like retail
and consumer goods.
• ASSA to distribute IDR 73.82B interim dividend
Adi Sarana Armada (ASSA) will distribute interim dividends worth IDR 73.82B or IDR 20 per
share to its shareholders. The dividend is based on the company’s 9M24 net profit of IDR
212.67B (+79.81% yoy). The company has set a schedule for cum dividend date on 14 Nov 24
and payment date on 22 Nov 24. (Bisnis Indonesia)
• FAST posted higher net loss in 9M24
Fast Food Indonesia (FAST) posted revenue of IDR 3.59T in 9M24 (-22.28% yoy). In detail, food
and beverage sales amounting to IDR 3.57T (- 22.32% yoy), followed by other income from
commissions on consignment sales of IDR 15.36B (-10.96% yoy), and revenue from delivery
services of IDR 1.41B (-31.67% yoy). FAST also posted a net loss of IDR 557.08B in 9M24 (+265.5%
yoy) from IDR 152.41B in 9M23. Furthermore, the number of restaurant outlets operated by
FAST also declined to 715 outlets as of Sep 24 from 762 outlets as of Dec 23. The surge in net
loss and a reduction in the number of outlets came as a result of an economy that has not
yet recovered and the Israeli-Palestinian conflict. (Bisnis Indonesia)
• PTRO secured an IDR 4.03T mining services contract
Petrosea (PTRO), a subsidiary of Indika Energy, has secured a substantial mining services
contract valued at approximately IDR 4.03T. This contract encompasses overburden removal
and coal production activities at a mining site located in Central Kalimantan. The agreement
is set for a duration of nine years, extending until 2032, with an estimated overburden volume
of 240M bank cubic meters (BCM) and coal production totaling 26.4M tons. This development
is anticipated to significantly enhance PTRO’s revenue streams and strengthen its position
in Indonesia’s mining sector. (Emiten News)