Indonesia Finance Minister Estimated CPO Transfer Pricing Losses Exceeded USD 84 mn

Indonesia Finance Minister Estimated CPO Transfer Pricing Losses Exceeded USD 84 mn 
Finance Minister Purbaya Yudhi Sadewa stated estimated transfer pricing losses involving 10 major Indonesian CPO exporters could exceed USD 84 mn, as the current figure was derived only from limited sample analysis covering 35 export transactions during 2020– 2024. The analysis reportedly found significant pricing disparity between export values declared domestically and estimated prices recorded in destination countries. The study also indicated corporate income tax to turnover ratio (CTTOR) of the sampled exporters averaged only 0.4%, below Indonesia’s SME final tax rate of 0.5% of revenue, raising concerns over potential tax avoidance practices through affiliated trading entities. Most sampled exporters were reportedly subsidiaries of four major Indonesian palm oil groups. (Bloomberg Technoz)

BCAS: ASII IJ - Repositioning Astra 
- Astra is repositioning its business portfolio from diversification to a focus on its core pillars: Automotive, financial services, and HEMCE (High-Energy, Industrial, and Construction). 
- Astra is focused on maintaining market share in the automotive sector while expanding its ecosystem, including after-sales services (service and spare parts), used cars, and a trade-in platform. Financial services will expand beyond Astra's ecosystem, including multi-cycle financing; strengthening the value chain in the HEMCE sector; and expanding mining and customer service offerings. 
- By implementing clarity and discipline in investment and capital, Astra aims to stabilize dividend payments at a ratio of 45-50%, allocating funds for growth investments and/or share buybacks. Furthermore, the BoD will also utilize a long-term, share-based remuneration scheme linked to Total Shareholder Return (TSR) as a commitment. The TSR target is set at a low teens level. 

Perusahaan Gas Negara (PGAS) to Disburse Dividend of IDR 125.61/sh 
PGAS approved FY25 cash dividend of IDR 125.61/sh or equivalent to USD 172.29 mn, representing payout ratio of 80% from FY25 net profit of USD 215.36 mn (Div. yield: 6.69%). The remaining 20% or equivalent to USD 43.07 mn will be recorded as retained earnings. The dividend distribution was approved at the AGM held on 22 May-26. The schedule of disbursement is as follows: 
- Cum Dividend in the Regular Market and Negotiated Market on 04 Jun-26. 
- Ex Dividend in the Regular Market and Negotiated Market on 05 Jun-26. 
- Cum Dividend in the Cash Market on 08 Jun-26. 
- Ex Dividend in the Cash Market on 09 Jun-26. 
- Recording date on 08 Jun-26. 
- Dividend payment on 24 Jun-26. 
(Emitennews)

Kalbe Farma (KLBF) to Disburse Dividend of IDR 20/sh 
KLBF approved FY25 cash dividend of IDR 20/sh or equivalent to IDR 936.26 bn, representing payout ratio of 25.6% from FY25 net profit of IDR 3.66 tn (Div. yield: 2.47%). The remaining 74.4% or equivalent to IDR 2.73 tn will be recorded as retained earnings. The dividend distribution was approved at the AGM held on 21 May-26. The schedule of disbursement is as follows: 
- Cum Dividend in the Regular Market and Negotiated Market on 03 Jun-26. 
- Ex Dividend in the Regular Market and Negotiated Market on 04 Jun-26. 
- Cum Dividend in the Cash Market on 05 Jun-26. 
- Ex Dividend in the Cash Market on 08 Jun-26. 
- Recording date on 05 Jun-26. 
- Dividend payment on 24 Jun-26. 
(Emitennews)