Aldira Sunrise 9 Oktober 2024

Economy: CCI drops to 123.5 on Sep 24
Bank Indonesia (BI) survey showed a decline in the Consumer Confidence Index (CCI) to 123.5 on Sep 24 from 124.4 on Aug 24. The Economic Conditions Index (ECI) was recorded at 113.9 on Sep 24, lower than 114.0 on Aug 24. Similarly, the Consumer Expectation Index (CEI) was recorded at 133.1, lower than 134.9 on Aug 24. (Kontan)
ANTM acquires 30% ownership in a Tsinghan group’s entity
Aneka Tambang (ANTM), through its subsidiary Gag Nickel (PTGN), has acquired a 30% stake in Jiu Long Metal Industry (JLMI), a company affiliated with the Tsingshan Group, for USD 102.5M. The acquisition was formalized through a Conditional Sale and Purchase Agreement (PJBB) signed on 3 May 24, and a share transfer deed completed on 3 Oct 24. Alongside the acquisition, PTGN entered into two additional agreements with another Tsingshan entity, Universal Metal Trading (UMT). These agreements include a nickel ore supply contract and a prepayment agreement, where UMT provides advance payments for future nickel ore deliveries. The funds from this prepayment were used by PTGN to partially finance the acquisition of the JLMI shares. After becoming a shareholder in JLMI, PTGN extended a shareholder loan of USD 18M to JLMI. This loan is part of a broader financial arrangement, as NII, the former sole shareholder of JLMI, had previously provided a USD 60M loan to the company for working capital. PTGN’s 30% stake entitles it to provide shareholder loans proportional to its ownership, and these loans will generate interest income for PTGN, contributing to ANTM’s indirect income. The funds will also be used by JLMI to repay part of the loan initially provided by NII. The total value of the transactions related to this acquisition, including the share purchase and the affiliate transactions, amounts to USD 120.5M. (Kontan)
INDY sold Mitra Energi for IDR 15B
Indika Energy (INDY), through Indika Indonesia Resources (IIR), has signed a share sale and purchase agreement on 3 Oct 24 with Niaga Gilang Persada (NGP) as the buyer. This sale and purchase transaction concerns the transfer of all shares owned by IIR in PT Mitra Energi Agung (MEA). As the seller, IIR transacted 3,060 shares which represents 60% ownership in MEA to the buyer. The agreed value for this transaction is IDR 15B. (Kontan)