Automotive: Honda Gears Up for Locally Assembled Hybrid Launch
Honda Prospect Motor (HPM) is set to launch a new locally assembled hybrid model in
Indonesia soon. The company plans to introduce three new models this year, with one
expected to debut within the month. While details remain scarce, the upcoming model is
said to be highly popular among Indonesian consumers. Honda aims to ensure competitive
pricing and affordability, leveraging a 3% government incentive for hybrid vehicles.
Speculation suggests the HR-V e:HEV could be the new release, as it has already appeared in
Indonesia’s vehicle pricing database. (IDX Channel)
ASII Announces IDR 12.46T Dividend Payout Amid Revenue Growth
Astra International (ASII) has announced a cash dividend of IDR 308/share, following its
Annual General Meeting of Shareholders (RUPST) on May 8, 2025. The total dividend
distribution amounts to IDR 12.46T, with an overall dividend of IDR 406/share, including an
interim dividend of IDR 98/share that was paid in October 2024. Astra reported a net profit
of IDR 34.05T (+0.63%) in 2024, from the previous year, while its net revenue grew by 4.53%
to IDR 330.92T. This move underscores Astra’s continued financial strength and commitment
to rewarding its shareholders. (IDX Channel)
BFIN to distribute IDR 32 dividend per share
BFI Finance Indonesia (BFIN) has announced a final dividend distribution of IDR 32 per share,
totaling approximately IDR 481.2B based on its 15.03B outstanding shares. This decision was
made during the Annual General Meeting of Shareholders (RUPST) held on May 8, 2025.
Including the interim dividend of IDR 28 per share paid on December 19, 2024, BFIN’s total
dividend for the 2024 fiscal year amounts to IDR 60 per share—equivalent to 57.7% of its 2024
net profit of IDR 1.6T. The final dividend is scheduled for payment on June 11, 2025. With BFIN’s
stock price holding at IDR 860, the final dividend yield stands at approximately
3.7%. (IDX Channel)
CSRA Delays Dividend to Focus on Debt Repayment and Capex
Cisadane Sawit Raya (CSRA) has decided not to distribute dividends following its Annual
General Meeting on May 7, 2025, citing precautionary measures amid global economic
uncertainty and potential declines in CPO prices. According to CFO Seman Sendjaja, the
company is prioritizing cash flow for operational expenses, debt and interest repayments—
particularly a IDR 134B bank loan due soon—and ongoing capital expenditures, including the
completion of a palm oil mill. Despite the temporary nature of this decision, CSRA remains
open to revisiting a potential dividend distribution later in the year, depending on
macroeconomic developments. Notably, CSRA delivered strong financial performance in
2024, with revenues increasing by 21.8% yoy to IDR 1.07T and net profit surging 46% to IDR
213.36B, supported by tight cost controls and improved net margins. (Bisnis Indonesia)
DKHH IPO Surges with Strong Retail Interest
Cipta Sarana Medika (DKHH), the operator of DKH Hospital, successfully completed its IPO
on May 6, 2025, raising IDR 69.90B by offering 530M shares (20.78% of post-IPO capital) at IDR
132 per share. The IPO saw overwhelming demand, with IDR 3.8T in subscriptions and a 190x
oversubscription in the pooling allotment, indicating strong market confidence.
Approximately IDR 40.76B of the proceeds will fund a new hospital building in Cibadak, IDR
3.62B for medical equipment including a CT-Scan, IDR 612M for renovations, and the
remainder for working capital, marketing, and pharmaceutical purchases via PO. (Kontan)
OKAS to Convert Debt into Shares via Private Placement
OKAS is initiating a IDR129.29B private placement by issuing 656.3M new shares at IDR197
per share—equal to 27.65% of enlarged capital—to convert USD8M in matured debt to Oliva
Vera Dome Holding Ltd into equity. The total outstanding debt, including interest, amounts
to USD19.33M. Interest settlement will be negotiated pending investor approval at the
Extraordinary General Meeting (EGM) on May 8, 2025. This move, already approved by creditor
Bank Panin, will raise OKAS’s equity from USD59.61M to USD67.61M and reduce its debt-toequity
ratio to 160.48%. If approved, the new shares will be listed on May 22, with Oliva Vera
acquiring a 21.66% stake, while existing shareholders like Multi Berkat Energi and Island Spice
Investment will experience proportional dilution. (Emiten News)
PBRX Posts Significant Loss in 2024
Pan Brothers (PBRX) reported a substantial loss of USD 448M (approximately IDR 7.2T) in
2024, largely due to a 45% decline in sales to USD 320M, with export sales dominating over
90% of total sales, and significant other losses primarily from provisions for raw material
advances and inventory obsolescence. (IDX channel)
PSGO Declares IDR 150.8B Dividend as Expansion Plans Take Shape
Palma Serasih. (PSGO) has announced a dividend payout of IDR 150.8B, equivalent to IDR 8
per share, following its Annual General Meeting of Shareholders (RUPST) 2024. The dividend
will be distributed by June 5, 2025. Despite a 3.8% increase in net sales to IDR 2.12T, PSGO’s
net profit declined by 36.2% to IDR 350.64B, partly due to the divestment of two subsidiaries
and climate-related production challenges. The company also plans strategic acquisitions to
expand operations and enhance synergy within its business ecosystem. (Bisnis indonesia)
SSMS targets 10% revenue growth in FY25
Sawit Sumbermas Sarana (SSMS) targets a 10% revenue growth in 2025, following its 2024
revenue of IDR 10.52T. CEO Jap Hartono attributes this to the expected recovery in national
palm oil production—forecasted to rebound to 48M tons in 2025 from 45M tons in 2024—and
ongoing cost efficiency strategies. As of Q1 2025, SSMS reported a 45.16% yoy revenue
increase to IDR 3.65T and a 23.33% rise in net profit to IDR 341.52B, driven by production
efficiency, just-in-time inventory, and strong export demand despite higher export taxes. The
company has allocated IDR 510B in capital expenditure for 2025, focusing on worker facility
upgrades, heavy equipment, and machinery renewal, with 30–35% already realized. SSMS is
also advancing its downstream expansion with a 1,500-ton-per-day refinery set to launch by
year-end and maintains strong plantation yields, delaying replanting plans until 2026.
(Bisnis Indonesia)
