🔥 MSCI Unplugs the Exception for Bren, Cuan, and Ptro – Stockbit Snips

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Daily Market Performance 🚀

IHSG	Foreign Flow	USD / ID Courses	Gold
7.097 +0,71%	-Rp1,13 trillion	16.245 +0,21%	3.382 +0,57%

Oil	Coal	CPO	Nickel
71,3 +1,44%	115,1 +1,41%	4.231 +1,37%	15.198 -0,60%

👋 Stockbitor!

MSCI on Friday (11/7) announce that Barito Renewables Energy ($BREN), Petrindo Jaya Kreasi ($ Cuan), and Petrosea ($PTRO) will no longer be subject to specific treatment (exceptional treatment) and will be evaluated in accordance with applicable methodology (including changes) for review August 2025 index and so on.

The decision Following the cancellation of the discourse on the implementation of the mechanism “unusual market activity (ONE) and/or Special Monitoring Board (FCA) related Criteria 10 In the last 12 months ”as a criterion review MSCI. The discourse Cancel was implemented after MSCI received input from market participants, which assessed the mechanism was too tight. Market participants also provide input so that the application of regulations related to special monitoring boards must be consistent with other stock markets, such as the Taiwan stock market.

As a replacementMSCI announced that stocks on a special monitoring board (FCA) related to criteria 10 In the last 4 months – Namely, from price cutoff index review previously up to 3 working days before the effective date review The closest index – will not be inserted into the index and/or migrated between the standard and small cap.

Key Takeaway

Based on our understanding, Here are some scenarios related to Uma, suspension, FCA, and its relation to review MSCI:

1. UNTER 1: Still will be inreview and potentially enter the index.
2. UMA 2nd so that it is suspended 1 day: will still be in-review and potentially enter the index.
3. Sussed by more than 1 day so that it enters the Special Monitoring Board (FCA): will notreview and have to wait review the next period.

🏦 BMRI plans to change the management at the August 2025 EGMS

1. $ BMRI: Mandiri Bank plans to change the company’s managementthat will discussed in EGMS on August 4, 2025. Previously, the EGMSB plan was announced on June 30, 2025. Fortunate Reporting that the President Director, Darmawan Junaidi, is rumored to be replaced at the EGMS, even though the replacement candidate is not yet known.
2. $ Smra: Summarecon Agung recorded marketing sales equal to 1.3 trillion rupiah on 2q25 (+42% YoY, + 48%). These results make marketing sales For 1H25 reach 2.2 trillion rupiah (+26% YoY), equivalent 43% of the target 2025 at the level of 5 trillion rupiah. Home segments contribute as much as 70% of marketing sales For 1H25, followed by shophouses (27%), apartments (2.5%), land lots (0.4%), and offices and commercial (0.1%).
3. $ Ctra: Director of Ciputra Development, Harun Hajadi, told Fortunate that it recorded marketing sales equal to 4.2 trillion rupiah for 1h25 (-31% YoY), equivalent to ~ 38% target 2025 at 11 trillion rupiah. This result indicates realization marketing sales Ctra on 2Q25 equal to ~ 1 trillion rupiah (-62% YoY, -67%). Harun said that customer Currently it takes longer to decide to buy property or not, which indicates market weakening this year.
4. $TOBA: Shareholder TBS Energi Utama, PT Bara Makmur Abadi, sell ~ 109.1 million shares of Toba with an average price 835 Rupiah per LembaR on 12 June to 4 July 2025. Total transaction value reached ~ 91.1 billion rupiah, where this transaction was intended for transfer of rights to shares. After this transactionPT Bara Makmur Abadi’s ownership in Toba dropped from ~ 5.47% to ~ 4.14%.
5. $ PTPP: Corporate Secretary of PT PP, Joko Raharjo, told to Fortunate that it noted new contract value equal to 9.37 trillion rupiah for 1h25 (-1,4% YoY), equivalent 32.87% of the target 2025 at the level of 28.5 trillion rupiah. The new contract value was dominated by a project from SOEs of 46.29%, followed by the private sector of 31.73%, and the government was 21.98%.
6. $INTP: Indocement Tunggal Prakarsa records decrease in cement sales volume equal to -6.2% yoy in June 2025so the sales volume down -2.8% yoy for 1H25 (vs. 1H24: +10% yoy). Nevertheless, market share For 1H25 slightly rising to 29,5% from last year’s position (Vs. 1H24: 29.4%, 1Q25: 30.1%). In terms of segmentation, selling cement bags (bag) in June 2025 down -5.1% yoy on the island of Java, although outside Java still grows +5.2% yoy. INTP management explained that The decline in volume on the island of Java is caused by the selling pricewhile a number of competitors began to provide discounts or promotions in areas that experience contractions. For 1H25, the sale of Intp bag cement is still growing thin (+0.8% yoy), while bulk cement (bulk) Continue to decrease (-11% yoy).

Top Gainer 🔥

$SSIA	$PTRO	$ Brpt	$BRMS
+24,93%	+24,76%	+16,67%	+9,00%

Top Loser 🤕

$FILM	$ BMRI	$ Kpig	$ Ctra
-10,54%	-5,63%	-5,35%	-4,59%

🔥 Another hot thing you need to know …

1. Minister of Finance, Sri Mulyani, on Monday (14/7) officially released Minister of Finance Regulation No. 37/2025 Which requires a platform e -commerce to collect and charge income tax on sales made by seller Small and middle -scale. These rules require platforms that meet certain criteria for cutting and burden tax of 0.5% for sales made by seller with an annual turnover between 500 million – 4.8 billion rupiah. Though this regulation Valid effectively as of July 14, 2025, platform e -commerce will be given 1 month to comply with this rule.

2. Customs and Excise Administration note that Chinese coal imports in June 2025 down to the level of 33.04 million tons (-26% YoY, -8% MoM), marking monthly imports Lowest since February 2023. This result makes Chinese coal imports for 1H25 down -11% yoy to 221.7 million tons. Reuters reported that the decline in Chinese coal imports occurred As an increase in domestic production to replace low -quality coal imports. For 5m25, Chinese coal production rose +6% yoy. The Vice President of China Coal Transportation and Distribution Association, Li Xuegi, said that in June 2025 that Chinese coal imports could fall by around 50-100 million tons for 2025, equivalent to a decline to -18% yoy.

3. European Commission President, Ursula von der Leyen, say on Sunday (13/7) that The European Union and Indonesia have reached a political agreement on the free trade agreement between the two parties. Von der Leyen said that the trade agreement – called the Comprehensive Economic Partnership Agreement (CEPA) – Will create more opportunities in major sectors, such as agriculture and automotive. Minister of Investment, Rosan Roeslani, mention that the agreement that has been negotiated for the 10 years will be signed in September 2025. Rosan also claimed that after the agreement was implemented, Indonesia’s trade value to the European Union can increase from the level of 30 billion US dollars per year to 60 billion US dollars.
4. Italian Foreign Minister, Antonio Tajani, say on Monday (7/14) that The European Union has prepared a list of tariffs worth 21 billion euros for imported goods from US if both parties fail to reach a trade agreement. Tajani added that the European Union too can prepare a follow -up rate package If the agreement with the US is proven impossible. However, Tajani said that he was sure that progress could be achieved in negotiations between the two parties. Tajani’s statement arose after the US President, Donald Trump, say on Saturday (12/7) that he will impose a tariff of 30% on most of imports from the European Union and Mexico as of August 1, 2025.
5. Director of the US National Economic Council, Kevin Hassett, say on Sunday (13/7) that government President Donald Trump is reviewing whether he has the authority to fire the chairman of the Fed, Jerome Powell. Hasnett added, Trump has this authority if there is a strong reason to fire Powell. Trump himself said that he did not want to fire Powell, but Hassett’s comments indicate that Trump’s government was still considering this possibility.
6. Indonesian Automotive Vehicle Industry Association (Gaikindo) record that Total national car production for 1H25 fell -1.7% yoy to 552,509 units. This decline occurred as it plummeted sale wholesales National cars by -9% yoy for 1H25. Chairman I Gaikindo, Jongkie Sugiarto, said that the decline in sales was pressed by weakening people’s purchasing power.
7. Indocement Tunggal Management Prakarsa ($INTP) note that the sales volume of the cement industry in Indonesia down to be 4.9 million tons in June 2025 (-7,3% YoY, -5,6% MoM), along with holidays, high rainfall, and economic situations that have not improved. These results make the sales volume of the cement industry in Indonesia for 1H25 down -3.1% yoy (vs. 1H24: +2.2% yoy), with a weakening occurring both on the island of Java (-2.9% yoy) and outside of Java (-3.2% yoy). In terms of segmentation, the volume of selling cement bags (bag) recorded flat annually for 1H25, with sales contributions increased to 72% (vs. 1H24: 69.8%). On the other hand, the volume of bulk cement sales (bulk) down -10% yoy, with a contribution to total sales also reduced to 28% (vs. 1H24: 30.2%).

🔄 Profit Margin Expansion Signs Turnaround Potential?

“In the end the company will sink again on the same problem as before.” – Sanculist

Interesting quote from the stockbit community this week

Stock turnaround Indeed, offers a great Cuan potential, but it requires accuracy in reading in the initial signs. One important indicator that needs to be considered is the increase profit marginwhich can indicate the company begins to reach an economical scale and carry out operational efficiency. In his writing, Sanculist describe how margin What improved is often the initial signal of performance recovery, supported by real case studies from several issuers. Read the full writing to understand how to recognize opportunities from an early age before the market is aware here!

Overview of Sanculist

Sanculist is an investor and also educator around stock investment. He has been in the capital market for almost 18 years. Besides often distributing education through stockbit streams, Sanculist also actively writing books. One of his most famous works is “Street Investing, the Street Style Approach in conducting stock fundamental analysis.” Writings Sanculist You can also read more here!

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