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MPMX: MPMX Targetkan Pertumbuhan Laba Hingga R...

PT Mitra Pinasthika Mustika Tbk. menargetkan pertumbuhan laba di rentang Rp400 miliar—Rp450 miliar pada tahun ini ditopang oleh beberapa faktor, seperti pengembangan dan pencapaian kinerja perseroan melalui peningkatan produktivitas.GM Corporate Communication Mitra Pinasthika Mustika Natalia Lusnita memaparkan, perseroan juga menargetkan pendapatan perusahaan dapat tumbuh di rentang 5%—10% pada tahun ini.“Kami akan mengembangkan bisnis-bisnis yang sudah ada, perseroan akan terus secara selektif menggunakan modal belanja pada ROI (rasio laba bersih terhadap biaya) yang lebih tinggi,” katanya kepadaBisnis, Senin (21/1/2019).Natalia menambahkan, emiten berkode saham MPMX tersebut juga akan meningkatkan efisiensi dan produktivitas untuk dapat memberikan manfaat yang lebih baik terhadap ekosistem bisnis dan bagi para pemangku kepentingan.Untuk itu, MPMX menyiapkan anggaran belanja modal (capital expenditure/capex) untuk tahun ini di rentang Rp600 miliar—Rp700 miliar. Adapun, dana tersebut sebagian besar bakal digunakan untuk pengembangan infrastuktur untuk bisnis roda dua lewat MPMulia dan pembelian unit mobil di MPMRent.Adapun, sejauh ini perseroan hanya memiliki diler roda dua berjumlah 285 diler.Sementara untuk diler roda empat, pada tahun lalu perseroan melalui entitas anak PT Mitra Pinashtika Auto (MPMAuto) telah berhenti menjadi diler resmi PT Nissan Motor Distributor Indonesia (NMDI), selaku distributor penjual mobil merek Nissan dan Datsun, efektif per 5 November 2015.Berdasarkan laporan keuangan per September 2018, MPMX mencatatkan pertumbuhan laba yang dapat diatribusikan kepada pemilik entitas induk sebesar 1.050% menjadi Rp4,17 triliun dari perolehan sebesar Rp363 miliar pada periode yang sama tahun sebelumnya.Sementara itu, pendapatan neto tercatat naik 7,3% ke level Rp11,68 triliun dari sebelumnya sebesar Rp10,88 triliun pada periode yang sama tahun lalu.

Lion dan Wings Air Resmi Terapkan Bagasi Berb...

Maskapai penerbangan Lion Airdan Wings Air mulai memberlakukan bagasi berbayar hari ini, Selasa (22/1). Ketentuan tersebut diimplementasikan usai perusahaan melakukan sosialisasi selama dua minggu terakhir.

Corporate Communications Strategic Lion Air Danang Mandala Prihantoro menjelaskan tarif bagasi yang dikenakan kepada penumpang bervariasi. Hal itu akan disesuaikan dengan rute dan jam penerbangan.

"Benar, mulai berlaku hari ini. Penumpang bisa melihat harga (bagasi) saat melakukan reservasi tiket," ucap Danang kepada CNNIndonesia.com, Selasa (22/1).




Berdasarkan penelusuran CNNIndonesia.com di website Lion Air, rute Jakarta-Denpasar untuk bagasi dengan kapasitas berat 5 kilogram (kg) dikenakan biaya Rp95 ribu, 10 kg sebesar Rp190 ribu, 15 kg sebesar Rp285 ribu, 20 kg sebesar Rp380 ribu, 25 kg sebesar Rp475 ribu, dan 30 kg sebesar Rp570 ribu.

Sementara, bagi penumpang yang hendak bepergian dari Jakarta ke Padang harus siap-siap merogoh kocek minimal Rp100 ribu untuk bagasi dengan berat 5 kg. Lalu, untuk berat 10 kg biayanya sebesar Rp200 ribu, 15 kg sebesar Rp300 ribu, 20 kg sebesar Rp400 ribu, 25 kg sebesar Rp500 ribu, 25 kg sebesar Rp500 ribu, dan 30 kg sebesar Rp600 ribu.

"Bagi pelanggan yang akan membawa bagasi dapat membeli pada saat dan setelah beli tiket," tutur Danang.



Ia mengingatkan calon penumpang membeli slot bagasi enam jam sebelum keberangkatan. Masyarakat bisa membeli slot tersebut melalui agen perjalanan, website resmi perusahaan, dan kantor perwakilan Lion Air Group.

Lebih lanjut Danang mengimbau agar penumpang tiba di bandar udara (bandara) lebih awal atau 120 menit sebelum keberangkatan untuk mengantisipasi antrean di counter bagasi. "Lion Air dan Wings Air juga sudah mempersiapkan sumber daya manusia (SDM) dalam membantu kebutuhan pelanggan," ucap Danang.

Sebagai informasi, ketentuan kebijakan bagasi ini tercantum dalam Peraturan Menteri Perhubungan (Permenhub) Nomor 185 Tahun 2015 tentang Standar Pelayanan Penumpang Kelas Ekonomi Angkutan Udara Niaga Berjadwal Dalam Negeri.

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Indonesia Daily Focus Jan...

Mirae Asset Sekuritas Indonesia
Daily Focus
INTP’s 4Q18 preview: Margin improvement likely
Sales volume growth slowed in December, but full-year figure was in lineFor December, Indocement Tunggal Prakarsa’s (INTP) domestic cement sales volume declined 5.0% MoM to 1.5mn tonnes, likely due to seasonality (holiday as well as rainy weather). Cumulatively in 2018, INTP’s domestic sales volume grew 5.7% YoY to 17.7mn tonnes, outpacing industry growth (+4.7% YoY) and coming in line with our estimate.
Profit margins likely improved due to softer coal pricesWe forecast INTP’s 4Q18 revenue to come in at IDR4.3tr (+10.9% YoY, +1.3% QoQ), bringing full-year revenue to IDR15.1tr, in line with the consensus. Despite flat ASP growth in November and December, October ASP increased across Java, helping margins. Another positive factor was the price of coal, which fell substantially in October-December. Given the anticipated improvement in profit margins, we revised up our net profit forecast; we now expect 4Q18 net profit to reach IDR302.2bn, down 33.3% on a YoY basis (given the significant margin contraction), but up 15.1% on a QoQ basis due to better margins.
Demand growth is still challenging We expect INTP’s domestic sales volume to grow moderately by around 5% in 2019, as the cement demand outlook is still challenging.
Upgrade recommendation to Hold with TP of IDR18,025We upgrade our recommendation on INTP from Sell to Hold and raise our TP to IDR18,025 (from IDR18,000), due to the better outlook on margins. Moreover, in line with the positive developments from ongoing consolidation, we believe INTP’s margins could improve further on better ASP going forward. However, we caution that INTP’s valuation is relatively high. The current price (IDR18,800 as of January 18th) and our revised net profit forecast translate to a 2019 P/E of 49.2x, far higher than that of Semen Indonesia (SMGR; 24.6x).

Analysis - Easy stock guide

Bank Mandiri (BMRI IJ) - ...

Mirae Asset Sekuritas Indonesia Company UpdateBank Mandiri (BMRI IJ) - 4Q18 preview: Solidifying the groundwork by Lee Young Jun (lee.youngjun@miraeasset.co.id)Jan 22, 2019
Bank Mandiri (BMRI IJ) - 4Q18 preview: Solidifying the groundwork
For 4Q18, we expect Bank Mandiri (BMRI) to post earnings of IDR6,096.3bn (+3.1% QoQ, +9.4% YoY), driven by stable net interest margin (NIM), solid loan growth, and stable expenses. For 2018 as a whole, despite subdued top-line growth, we anticipate better bottom-line growth on the back of strengthened credit risk management, which has helped lower NPL ratio in problem segments and credit costs. In 2019, we see upside (albeit small) for NIM, along with solid loan growth. Asset quality should also improve thanks to management’s conservative stance.
4Q18 NIM stable QoQ; Improvement to come in 2019BMRI’s funding costs have increased since 1Q18, while loan yield reversed its trend in 3Q18. We believe asset yield and funding costs were higher in 4Q18, likely keeping NIM flat; note that retail rate adjustments were carried out only for new loan bookings. Nevertheless, a stable NIM was good enough to boost top line YoY, given the NIM downtrend in 2017. Going forward, NIM should improve slightly after new loan bookings start to affect overall loan yield. Also, BMRI will likely continue to hike rates, with banks entering a rate hike cycle to offset funding costs.
Stabilizing loan growth in 4Q18; Loan growth to stay solid in 2019Loans (bank only) grew 13.9% YoY in 11M18, even outpacing 3Q18 (+13.0% YoY). However, loan growth likely stabilized in 4Q18 given: 1) the high base effect from short-term borrowers in 4Q17, and 2) the gradual reduction in the lending portion (working capital) of Pertamina—one of the drivers of non-IDR loan growth in 2018—due to lower commodity prices. We estimate 2018 total loan growth at 11.6% YoY, within BMRI’s full-year target range (11-13%). We believe loan growth will remain the key driver in 2019, given the normalization of problem segments and BMRI’s efforts to take advantage of promising markets and sectors. Management hinted that for problem segments downsized throughout 2018, credit quality has improved enough to starting considering new loans in 2019. Loans to the small and medium corporate segments shrank 6.8% and 10.0% YoY in 3Q18, with NPL ratios of 2.96% and 10.86%, respectively. Meanwhile, we expect BMRI to continue focusing on disbursing micro (salary-based) loans (disbursed to only 500,000 out of 4mn accounts so far). Despite recent downward movements in bond yields, the current spread between bond yields and lending rates is still too wide to support corporate loan growth. However, we caution that with the Fed giving indications of slower rate hikes in 2019, we could see fewer BI rate adjustments as well as a rapidly narrowing spread between bond yields and lending rates.
Reiterate Trading Buy recommendation with TP of IDR8,700We reiterate our Trading Buy recommendation on BMRI and retain our target price of IDR8,700. Our target price implies a P/B of 2.0x our 12-month rolling forward BPS estimate. Key risks to our call include decreasing bond yields, slowing domestic growth, and tightening liquidity.