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FROM EQUITY RESEARCH |
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MARKET NEWS |
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MACROECONOMY
China New House Price Declined by 0.7% yoy in Jan24
China New House Price declined by 0.7% yoy in January 2024, extending the decline streak to 7 months and the steepest pace since Mar-23. In a monthly basis, price also fell by 0.4%. (Trading Economics)
Indonesia’s Money Supply Grows by 5.4% yoy in Jan24
Money Supply growth accelerate to 5.4% yoy in January 2024 from Dec's 3.5%. The growth in January was supported by higher growth of 5.8% y-y in Third Party Fund (vs. Dec's 3.8%). Net claims to government also increased by 1.9% yoy after declining in the previous two months. (Bank Indonesia)
SECTOR
Banking: BI Reported a TPF Increase of 5.8% in Jan24
Bank Indonesia reported a 5.8% yoy increase in third-party funds (TPF) in January 2024, influenced by the expansion of corporate TPF (+6.2% yoy) and individuals (+5.4% yoy). Current accounts increased by 7.1% yoy, while savings climbed by 4.2% yoy. Furthermore, time deposits increased by 6% yoy. (Emiten News)
CORPORATE
BBNI Provides Consumer Credit to Posind Employees
BNI and Posind have partnered to offer non-payroll consumer credit facilities to Posind employees. BNI now offers competitive interest rates, fast processing, and guaranteed security after transferring Posind payroll to Pospay. (Investor Daily)
EXCL Data Traffic Increased 11% on Election Day 2024.
EXCL reported an 11% surge in data service traffic for the 2024 General Election, with XL SATU Fiber services experiencing an 8% increase. Central Java Province saw the highest rise (15%), followed by North Sumatra Province (13%) and West Java Province (11%), with TikTok and Instagram seeing the largest increase in traffic at 20% and 16%, respectively. (Investor Daily)
In other news, Live.On has announced a merger with AXISNET, controlled by XL Axiata, to gradually integrate its services into the AxisNet application from 23 Feb24 until 8 Mar24. (Akurat)
ITMG Increased Share Portion in Solar Energy Company
ITMG, through its subsidiary, PT ITM Bhineka Power (IBP), increased its share ownership in the solar-based new renewable energy (EBT) company, PT Cahaya Power Indonesia (CPI), to 79.5% from the previous 60%. IBP has increased its share portion throughout the year with a total value of Rp573.68bn. (Investor Daily)
PGEO and PLN IP Promote PLTP Commerciality
PGEO and PLN IP have formed a strategic partnership to commercialize geothermal power plants (PLTP), aiming to achieve 1 GW of installed capacity within 2–3 years. The project prioritizes areas for feasibility studies (Ulubelu Bottoming Unit (BU) 30 MW and Lahendong BU 15 MW), with the next goal of completing the IRR project with a fast Power Purchase Agreement. (Market Bisnis)
TLKM: Telkomsel Held Latest Technology Showcase for Enterprise Segment
TLKM’s Telkomsel held a Solution Day 2024 event and 40 showcases of digital solutions with the latest technology aimed at enterprise customers. The solutions are divided into 12 vertical and horizontal categories. The five business vertical showcases include mining, manufacturing, financial services, transportation & logistics, and agriculture. Meanwhile, the seven business horizontal showcases include Connectivity, IoT, advanced connectivity, Customer Engagement, Emerging Solutions, Innovation and Data Center, Cloud, and Security Solutions. Telkomsel also introduced two new solutions, namely Ted and Digihub. (Investor Daily)
UNTR Increases Share Ownership in UTPE
UNTR increased its shareholding in its subsidiary, PT United Tractor Pandu Engineering (UTPE), by 145,000 shares. After the share increase, UNTR now holds 841,774 shares of UTPE. (Emiten News)
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