Indonesia Apr-25 Inflation Hit Highest Since Aug-24

 Indonesia Apr-25 Inflation Hit Highest Since Aug-24

Indonesia's annual inflation rose to 1.95% in Apr-25 (Mar-25: 1.03%), the highest since Aug-24, driven by Eid al-Fitr spending. The rate remained within BI's 1.5-3.5% target. Housing prices rebounded (+1.60% vs -4.68%) after the 50% electricity tariff rebate ended. Core inflation hit a 22-month high at 2.50%. On a monthly basis, CPI increased 1.17%, down from Mar-25's 1.65% surge. (Trading Economics)

INDUSTRY 
Global Oil Prices Fell on OPEC+ Supply Surge 
Global oil prices tumbled as OPEC+ approved a major production increase, raising concerns over a potential supply glut amid weakening demand due to the ongoing trade war. Brent dropped to USD 58/bbl (-4.1%), while WTI neared USD 55/bbl. The group, led by Saudi Arabia and Russia, added over 400,000 bpd for Jun-25, mirroring Apr-25's surprise hike, reversing long-standing output cuts.(Bloomberg

COMPANY 
BCAS: SIDO IJ - 1Q25 Earnings Missed

-1Q25 Net Profit at IDR233bn (-40.7% QoQ; -40.3% YoY), below ours/cons at 18.2%/18.5%. Profitability was affected due to product mix, with Herbal Segment saw significant decrease from sales. 
- 1Q25 revenue at IDR789bn (-38.9% QoQ; -25.1% YoY), also missed despite low seasonality. Biggest decline seen in Herbal segment, marking weakest quarter for the segment in the past 5 years. F&B however still saw strong growth QoQ. 
The top-line missed the Co.'s guidance with at least 10% growth. We think the Co. will revise its guidance. We will share more update as we wait for earnings call next Thursday.