Nusantara Properti Indonesia on MSCI Index
Nusantara Properti Indonesia on MSCI Index. MSCI Inc. announced the latest list of shares that are members of the MSCI Small Cap Indonesia Index. In addition to including six shares that were downgraded from the MSCI Global Indonesia Index, the company also included four completely new shares. The four shares are Astra Agro Lestari Tbk (AALI IJ), Bintang Oto Global Tbk (BOGA IJ), Nusantara Properti Indonesia Tbk (NATO IJ), and Pacific Strategic Financial Tbk (APIC IJ). The following is an illustration of the business performance and the performance of the four listed companies.
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Astra Agro Lestari Tbk (AALI IJ). In 2019, AALI posted sales of IDR 17.45 trillion, down 8.5% YoY. The reason is the sale of crude palm oil (CPO) products and their derivatives in 2019 is 4.9% lower compared to the previous year. Moreover, sales of palm kernel products and derivatives fell 36.2% YoY and other sales decreased 18.8% YoY. In terms of the bottom line, AALI net profit even dropped 85.3% YoY, from IDR 1.44 trillion to IDR 211.12 billion.
Even so, in the 1Q20, Astra Agro Lestari sales improved again with a growth of 13.3% YoY to IDR 4.8 trillion. There was an increase in sales of CPO and its derivatives by 16.4%, while sales of other products still showed negative performance. AALI net profit in 1Q20 also shot 891.8% YoY, from IDR 37.41 billion to IDR 371.06 billion. Even so, throughout 2020 to mid-May, the price of AALI shares has fallen 57%, from IDR 14,575 per share to IDR 6,200 per share.
Bintang Oto Global Tbk (BOGA IJ). The issuer, which is engaged in the motor vehicle dealership business, booked sales of IDR 790.81 billion in 2019. This amount is up 14.2% compared to the realization of the previous year sales of IDR 692.19 billion. All BOGA business segments showed growth. In detail, motor vehicle sales increased 10.5% YoY to IDR 676.28 billion, incentives rose 5.3% YoY to IDR 42.03 billion, maintenance services and spare parts shot 109% YoY to IDR 51.33 billion, and operating leases increased 35.2% YoY to IDR 21.17 billion.
Unfortunately, Bintang Oto Global net profit fell 15.8%, from IDR 11.66 billion in 2018 to IDR 9.81 billion in 2019. Some of the reasons were general and administrative expenses which rose 23.7% YoY and financial expenses increased 37.5% % YoY. From 2020 to mid-May, BOGA share price grew 8%, from IDR 1,330 per share to IDR 1,435 per share.
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Nusantara Properti Indonesia Tbk (NATO IJ). Issuers engaged in the hotel business recorded revenue of IDR 17.79 billion in 2019 or fell 22.7% YoY. Hotel revenue which includes rooms, food and beverages, and others decreased 23.2% YoY, from IDR 22.57 billion to IDR 17.34 billion. Meanwhile, management service revenue is stagnant, which is IDR 450 million. Despite declining revenues, NATO net profit still grew 7.8% YoY, from IDR 3.06 billion to IDR 3.3 billion. From 2020 to mid-May, NATO share price fell 45%, from IDR 1,085 per share to IDR 595 per share.
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Pacific Strategic Financial Tbk (APIC IJ). APIC has not yet released the 2019 fiscal year financial statements. However, based on the financial statements as of 3Q19, APIC posted an increase in revenue of 87.7% YoY, from IDR 292.96 billion to IDR 549.88 billion. This increase was driven by income from securities trading intermediary activities which increased by 49.4% YoY, investment returns which surged 241.5% YoY, and higher gross premiums of 209.3% YoY.
As a result, Pacific Strategic Financial was able to book a net profit of IDR 74.7 billion, an increase of 45.4% YoY. From 2020 to mid-May, APIC share price rose 27%, from IDR 690 per share to IDR 875 per share.
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In addition to the four shares above, MSCI Inc. also added six shares to the MSCI Small Cap Indonesia Index. Derived from the MSCI Global Indonesia Index. They are Bank Tabungan Negara Tbk (BBTN IJ), Bukit Asam Tbk (PTBA IJ), Bumi Serpong Damai Tbk (BSDE IJ), Jasa Marga Tbk (JSMR IJ), Tjiwi Kimia Tbk Paper Factory (TKIM IJ), and Pakuwon Jati Tbk (PWON IJ). On the other hand, MSCI Inc. released 14 shares from the MSCI Small Cap Indonesia Index.
They are Adhi Karya Tbk (ADHI IJ), Alam Sutera Realty Tbk (ASRI IJ), Alfa Energi Investama Tbk (FIRE IJ), Bumi Resources Tbk (BUMI IJ). Follow by, Global Mediacom Tbk (BMTR IJ), Indika Energy Tbk (INDY IJ). And also, Krakatau Steel Tbk (KRAS IJ), Kresna Graha Sekurindo Tbk (KREN IJ), PP Properti Tbk (PPRO IJ). The rest, Rimo International Lestari Tbk (RIMO IJ), Sentul City Tbk (BKSL IJ), Sri Rejeki Isman Tbk (SRIL IJ). Also, Timah Tbk (TINS IJ), and Tunas Baru Lampung Tbk (TBLA IJ).
