IIMS 2025's Transaction Growth Slowed Amid Market Saturation

IIMS 2025's Transaction Growth Slowed Amid Market Saturation
IIMS 2025 recorded a transaction increase of 3.2% YoY (vs 2024; +27.2% YoY; IDR 6.7 tn) and a visitor growth of 3% YoY (vs 2024; 562k visitors, +22% YoY). The slower growth was attributed to weak automotive demand, market saturation from seven major auto shows in 2024, and declining middle-income purchasing power. IIMS 2025 maintained a transaction target of IDR 6.7 tn, featuring 190 exhibitors, including new entrants Geely and Honri from China. (Bisnis.com)

RESEARCH REPORT
JSMR – Growth is Secured, Debt is Reduced

• BUY, a defensive choice
• Completing 5 tollroad in pipeline, followed by deleveraging
• Solid performance is expected
• Earnings revision

(Please refer to our report here)

COMPANY
Semen Indonesia (SMGR) Domestic Sales Fell 8,3% in Jan-25
SMGR domestic sales volume fell 8.3% in January to 2.26 m tons, while overseas sales was down 2.3%. Domestic market share slightly increase MoM to 47.2%, but is trending down from 49-51%. (Company)

Maybank (BNII)'s Net Profit Dropped 36% to IDR 1.11 tn in 2024
BNII posted a net profit of IDR 1.11 tn in 2024 (vs 2023; -36% YoY; IDR 1.74 tn), with EPS declining to IDR 14.64 (vs 2023; IDR 22.87). Net interest and sharia income fell slightly to IDR 7.1 tn (vs 2023; IDR 7.23 tn), as interest income rose to IDR 10.42 tn (vs 2023; IDR 9.4 tn) and sharia income increased to IDR 2.6 tn (vs 2023; IDR 2.48 tn). Total interest and sharia expenses surged to IDR 5.95 tn (vs 2023; IDR 4.65 tn). Other operating income grew to IDR 2.38 tn (vs 2023; IDR 2.03 tn). (Emitennews)