Antam launches new facility, request tax exemption (TJP)
Aneka Tambang (ANTM) has invested USD 500,000 to develop a technology to turn anode slime into slime into precious metal including gold, selenium, palladium, and platinum. This expected to boost antam’s gold production into nearly sevenfold in the long run. Company will purchase the slime from Freeport’s smelter in Gresik, that they’ll build the processing facility near the smelter with capacity of 2k tons of anode slime. The investment to build the facility may reach USD 3mn. Company will only commence the commercial operation if govt agreed to remove the 10% value-added-tax (PPn).
BBRI Targets 14-16% CASA Growth (ID)
Bank Rakyat Indonesia (BBRI) targets 2015 CASA growth of 14-16%. One of the ways to achieve this target is through the opening of full-branch offshore branch in Singapore this year. BBRI also targets branchless banking agents to reach 35,000 from current level of 15,000. Furthermore the bank also plans to add 20 BRIlinks agents and add 400 networks, both on land and sea.
BSDE Booked Rp6.5tn Marketing Sales in 2014 (ID)
Bumi Serpong Damai (BSDE) booked marketing sales of Rp6.5tn in 2014, 8.3% higher than their target of Rp6tn, although lower than 2013's marketing sales of Rp7.3tn. The 2014 marketing sales consist of Rp3.1tn housing sales, Rp2tn land sales, Rp664.3bn house shop sales, Rp317.3bn strata title and Rp 102.9bn industrial land sales. Rp 48tn stimulus to help state firms back govt’s infrastructure push (TJP) Government announced plans to inject Rp 48tn to thirty-five state enterprises to support govt’s infrastructure push, or nine times amount spend last year. Four listed companies, namely Waskita Karya (WSKT), Adhi Karya (ADHI), Antam (ANTM), and Bank Mandiri (BMRI) will get the funds through a right shares offering mechanism that’ll be absorbed by govt. This plan will still depends on approval of the House.
Public Transport Tariff in Jakarta Cut by Rp500, Taxi Tariff Remains the Same (ID)
Land Transportation Organization (Organda) has formally cut public transport tariff in Jakarta by Rp500, following the decrease in fuel prices. The tariff cut includes tariff for Kopaja, big busses with AC and mikrolet. While mediumsized busses and non-AC busses are not included in tha tariff cut. Taxi will also not implement the cut, as currently taxi tariff has consisted of low tariff and high tariff. Organda also mentioned that the formal letter for the proposal will be submitted to Jakarta Governor today, and according to the association, 2 days from now the new tariff should be implemented, given the Governor agrees to it today.
Stagnant 4W Sales in 2014 (Kompas)
Gaikindo recorded domestic 4W sales in FY14 reached 1,208,019 units, down 1.78% compared to FY13 sales. The decline was mainly due to a slowdown in economic growth, rising fuel prices, the weakening rupiah, and the increase in the BI rate. On the positive note, LCGC became the important driver to 4W sales in 2014 with contribution of 150k sales units in FY14.