JAKARTA, Indonesia, Nov. 9, 2023 /PRNewswire/ — PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI)’s financial performance in Q3 2023 has ignited recommendations among analysts, who now advise ‘buy’ or ‘hold’ due to promising performance in the microsegment sector.

BRI’s Financial Performance Draws Analysts’ Recommendations for its Shares

"This segment is expected to help counterbalance some of the pressure on the net interest margin as interest rates continue to rise, thanks to its strong asset quality," explained Melissa Kuang, Chartered Financial Analyst at Goldman Sachs Research.

PT UBS Sekuritas Indonesia’s report raises BRI’s target price to IDR 6,925, a 2-3% increase from their previous projection of IDR 6,700. This is based on a 7.25% risk-free rate, a consistent 20.5% ROI, and sustained 9% growth.

Furthermore, BNI Sekuritas targets BRI’s price at IDR 6,000, in line with its current 1-year Price-to-Book Value of 2.3x, matching its 5-year average. Despite asset quality challenges in Q3-2023 for mass-market-focused financial institutions, Q4 improvements propelled by election-related funding are expected.

PT Verdhana Sekuritas predicts BRI’s price at IDR 6,150 with a ‘buy’ recommendation, using the DuPont methodology: 6.5% risk-free rate, 7.8% equity cost, 0.8x beta, and ROA adjusted for an 18.0% CAR. They anticipate increased government spending to support the microsegment with cash subsidies to mitigate El Nino’s impact.

Optimistic about BRI’s income, Yunita Sekuritas has recommended a ‘buy’ as BRI’s long-term potential reaches over 50 million potential customers in this segment with a 12-month target price of IDR6,800 (US$0.43), a +31.4% potential gain.

CGS CIMB Sekuritas anticipates the Q4-2023 general election’s impact on MSME loan disbursement. They expect BRI to uphold an 80-85% dividend payout ratio for the next five years. Their ‘Add’ recommendation persists with an unchanged IDR 6,100 per-share target price, employing a GGM model at 2.7x P/BV FY24F. Possible catalysts involve a more favorable macroeconomic environment that could reduce credit costs.

In September 2023, BRI reached consolidated asset growth of 9.93% YoY, reaching IDR 1,851.97 trillion, and a IDR 44.21 trillion post-tax net profit, marking a 12.47% annual increase. "The main growth contributors include double-digit growth in loan disbursement, an increase of third-party funds and low-cost funding, maintained credit quality, and a growing proportion of fee-based income within BRI’s overall revenue," concluded Sunarso, BRI President Director.

More information at www.bri.co.id.

Source : BRI's Financial Performance Draws Analysts' Recommendations for its Shares

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Overseas combustible business saw growth across all key metrics Double-digit increase in Heat Not Burn consumables sales volume

SEOUL, South Korea, Nov. 9, 2023 /PRNewswire/ — KT&G Corporation("KT&G" or the "Company") (KRX:033780), South Korea’s leading tobacco manufacturer, today announced financial results for the third quarter ended September 30, 2023.

For the 2023 third quarter, KT&G reported record-high quarterly revenue of KRW 1.69 trillion, a 4% increase from same quarter last year. Operating profit rose 0.3% to KRW 406.7 billion, despite cost headwinds.

Solid performance in combustible business drove the revenue growth, as the company’s total combustible revenue, including both overseas and domestic sales jumped to KRW 972.7 billion, a 3% increase YoY. Operating profit from combustible products recorded KRW 269.4 billion, up 0.6% YoY.

Overseas combustible business delivered impressive growth across all key metrics, including sales volume and revenue. KT&G’s overseas combustible revenue increased 26.3% to KRW 321.6 billion and the sales volume recorded 14.82 billion sticks, up 21% YoY. The double-digit growth in revenue and sales volume of overseas combustible products was mainly driven by strategic pricing and combined growth across export and overseas subsidiary volumes.

Heat Not Burn business also recorded double-digit increase in both domestic and overseas sales figures. KT&G sold 1.45 billion sticks in the domestic market and 2.03 billion sticks in overseas markets, which represents 13.3% and 22.3% growth YoY, respectively.

In the third quarter, KT&G’s primary focus was on enhancing its financial performance by strengthening the global competitiveness of its core business areas. As part of the effort, KT&G made significant growth investments in Indonesia and Kazakhstan in September and October. KT&G conducted an investment support ceremony with the Indonesian Ministry of Investment to discuss the establishment of its new manufacturing plant in Indonesia. The company also embarked on the construction of a cutting-edge hybrid production facility in Kazakhstan, designed to accommodate the production of both Heat Not Burn consumables and combustible products.

Furthermore, KT&G is planning to host an online conference named ‘Value Day’ for its shareholders on November 13th, 2023, during which it will provide updates on the long-term future growth investment plans originally unveiled at its Investor Day held in January. The company will also announce its shareholder return policy and financial strategies that extend beyond the year 2024.

As part of the three-year shareholder return policy KT&G has previously announced in 2021, the company has acquired 3.47 million of its own shares (KRW 0.3 trillion) for cancellation during the third quarter. KT&G also reinforced its commitment to enhance shareholder value by executing its first ever interim dividend in August.

"Throughout the third quarter, we continued with the efforts to restructure our business portfolio with an emphasis on overseas business. Such strategic approach has further solidified the groundwork for our long-term growth. Our commitment to strengthening the future competitiveness of our business and enhancing corporate value remains steadfast. We will continue to focus on the successful execution of our business transformation to achieve these goals," said KT&G spokesperson.

Source : KT&G posts record quarterly revenue in 2023 3Q; robust performance in core business areas

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BEIJING, Nov. 9, 2023 /PRNewswire/ — Huancui District of Weihai City in east China’s Shandong Province has consolidated its fishing tackle sector by developing shared models consisting of "joint promotion", "a shared workshop", and "shared resources", and achieved an industrial output value of 1.732 billion yuan in the first nine months, according to the bureau of industry and information technology of the district.

For example, in joint promotion, Huancui District has worked with Douyin, the Chinese version of TikTok, to build a fish equipment livestreaming e-commerce base to provide free services such as online support, professional training, and promotion campaign for local enterprises. So far, 180 enterprises have been attracted to settle down in the base.

In addition, Huancui District has also established a marketing platform and held high-level exhibitions, competitions, etc. to help local fishing tackle exporters increase market presence.

The shared workshop is a fishing gear spraying center built with 30 million yuan investment from Weihai Barfilon fishing tackle company and subsidies provided by Huancui District. This spraying center, which is equipped with air purification devices and sewage treatment equipment, undertakes the spraying, cutting, water grinding and other processes of local fishing tackle producers, thus solving their pain point of needing to spending more than one million yuan to meet environmental compliance requirements. At present, the workshop has accommodated 50-odd enterprises, saving them more than 26 million yuan of environmental protection investment and driving an increase in output value of over 200 million yuan.

Huancui District plans to build a park featuring shared resources such as standardized factories, environmental protection equipment, and technical talents and providing one-stop services including research and development, design, logistics, and exhibitions. Currently, the first phase of the park covering an area of 20,000 square meters has been reserved for the settlement of 10 enterprises. 

Through the shared models, fishing tackle sector has become a characteristic industry of Huancui District. As of now, there are over 260 fishing tackle production enterprises in Huancui District, producing over 20 million fishing rods per year and generating an annual output value of over 3 billion yuan.

See the original link: https://en.imsilkroad.com/p/337063.html

Source : Xinhua Silk Road: E. China's Shandong Weihai reshapes fishing tackle sector through shared models

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Express Your Inner Self with Zeagoo’s Fashionable and Comfortable Clothing

NEW YORK, Nov. 9, 2023 /PRNewswire/ — Zeagoo, a premier fashion brand, is thrilled to announce its Black Friday & Cyber Monday sale. The event will take place from November 17th to November 27th, following a pre-sale period running from November 2nd to November 16rd.

Zeagoo is known for its mix-and-match community that empowers women to express their unique charm and show their true selves to the world through style creativity. The brand offers a diverse range of casual women’s clothing combinations that are suitable for different body types and skin tones, promoting the brand’s inclusiveness.

During the sale, customers can enjoy significant discounts on a variety of Zeagoo’s products. Special offers, with discounts of up to 50%, will be available on both Zeagoo’s Amazon store and its official website.

Among the products included in the campaign, one standout piece is the Zeagoo Women’s Lace Cardigan. This floral crochet, long kimono with 3/4 sleeves doubles as a mesh bathing suit cover-up. Inspired by vintage designs, this embroidered kimono cover-up is crafted from high-quality lace, ensuring it’s soft, lightweight, and comfortable. It’s an ideal choice for daily wear, beach outings, swimwear, resort wear, and more.

Another must-have is the Zeagoo Sleeveless Tank Tops for Women. This cotton V-neck blouse features a loose, casual cami top design, making it an ideal choice for summer work or office wear. Crafted from a fabric that is soft, stretchy, lightweight, and breathable, this top offer both comfort and flexibility. Its flowy and absorbent material makes it perfect for various occasions such as business casual events, travel, date nights, beach outings, parties, weddings, and church. It’s also suitable for postpartum wear, lounging, nursing, breastfeeding, and even as a sleep shirt.

The Zeagoo Women V Neck Sweater is another item to look out for. This soft, oversized Henley knit pullover top features a stylish V-neck, classic button-up design, and drop shoulders. The unique lapel design, long lantern sleeves, and ribbed knit cuffs add a touch of elegance. Its relaxed-fit silhouette and solid color make it a versatile addition to any wardrobe. This cute sweater top pairs perfectly with leggings, skinny jeans, or shorts, making it ideal for a sporty or workout-inspired look.

For those looking for a unique style, the Zeagoo Women’s Fringe Vest 70s Cowgirl Costume and the Zeagoo Women’s Fringe Jacket are perfect choices. These faux suede rave outfits and cropped denim jackets are inspired by Western and hippie styles. They boast an open front, sleeveless design, and crop length, adorned with decorative studs and fringe trimming. The long tassel hem and solid color add to their appeal. 

Don’t miss out on this opportunity to update your wardrobe with Zeagoo’s high-quality, fashionable, and comfortable clothing at unbeatable prices.  For more information and to explore the Black Friday & Cyber Monday collection, visit Zeagoo’s official website and the Zeagoo’s Amazon store, or connect with the brand on social media:
Instagram: https://www.instagram.com/zeagoo.official/
Facebook: https://www.facebook.com/zeagooboutique

About Zeagoo

Zeagoo is a fashion brand that began in 2013, focusing on fashion leisure and self-confidence. The brand strives to provide women with loved clothing, easy to mix and match, whether on the beach, in the office, at a friend’s party, or traveling the world. Zeagoo continuously captures the latest trends, and breakthrough product boundaries, and explore the fusion and innovation of styles, empowering women to enhance their appearance and express their inner selves while gaining more life inspiration.

Source : Zeagoo's Black Friday & Cyber Monday Sale: A Celebration of Women's Unique Style and Charm

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BEIJING, Nov. 9, 2023 /PRNewswire/ — The potash fertilizer project of Asia-potash International Investment (Guangzhou) Co., Ltd. in Laos is listed in a book compiling 36 Belt and Road cooperation projects conducted by Chinese enterprises.

Photo shows the potash production plant of Asia-potash International Investment (Guangzhou) Co.,Ltd. in Laos.

The compilation, generated by a case study jointly conducted by the Research Center of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), and China Economic Information Service (CEIS), was presented during the Thematic Forum on Think Tank Exchange of the third Belt and Road Forum for International Cooperation earlier held in Beijing.

Located in Khammuan province in central Laos, the potash fertilizer project enjoys advantageous location as it is adjacent to Highway 13, an important transportation artery that runs through Laos and connects Cambodia and Vietnam. Highway 13 also leads to Vientiane in the north and connects the project with the China-Laos Railway.

Asia-potash International kicked off the 1 million-tonne potash fertilizer re-construction and expansion project, the first of its kind in Laos in April of 2020, which was completed after 17 months. 

The company currently holds 214.8 square kilometers of potash mining rights and 48.5 square kilometers of potash prospecting rights in Khammuan province, which could be converted to 1 billion tonnes of pure potassium chloride resources, making it the largest in Asia in terms of potash resource count.

The company strives to achieve a production capacity of 5 million tonnes by 2025 to become a world-class potash supplier, and will further expand to a capacity of 7-10 million tonns/year in the future upon market demand.

The company also initiated a project of the Asia-Potash International Smart Industrial Park in 2022 including a potash fertilizer industrial park and a non-potash industrial park to help promote industrialization in Laos.

The potash fertilizer industrial park is expected to bring in more projects, creating income and jobs for the local community while the non-potash industrial park would better utilize the associated resources of the Lao potash mine, integrate other advantageous resources such as coal and bauxite, and help develop other chemical projects to promote the industrialization of the country.

Along with project investment and construction, the company actively fulfills corporate social responsibility, carrying out poverty alleviation projects, setting up education funds, assisting infrastructure construction, developing modern agriculture, among others, to support Lao development, which is highly recognized by the government and the public.

https://en.imsilkroad.com/p/337004.html

Source : Xinhua Silk Road: Potash fertilizer project of Asia-potash International listed in Belt and Road case study

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Zinnov Zones ratings recognize Akkodis’ capabilities in several categories, including ER&D Services, Digital Engineering Services, Data & AI Engineering Services, Automotive, Aerospace and Electrification.

ZURICH, Nov. 9, 2023 /PRNewswire/ — Akkodis, a global digital engineering company and the tech business of the Adecco Group, is delighted to announce that it has been rated as a leader in the 2023 Zinnov Zones for ER&D and Digital Engineering Services Ratings. Zinnov, a leading global management consulting firm conducted a 360-degree evaluation of around 60 of the top service providers as part of their annual ratings, assessing these firms’ prowess and scalability across the ER&D value chain.

Zinnov Zones 2023, Leadership Zone, ER&D and Digital Engineering Services

These ratings are considered to be the gold standard in the global ER&D and Digital Engineering market which enables business leaders across verticals to identify strong partners for faster and more efficient deployment of ER&D-led services initiatives around the world. They provide a comprehensive view of the global ER&D space and the assessment is further distilled across categories to provide a vertical, horizontal and geography lens-based view.

In the Zinnov Zones for ER&D and Digital Engineering Services 2023 Ratings, Zinnov recognized Akkodis as a leader in the overall Digital Engineering Services category, Data & AI Engineering Services category, as well as for its industry capabilities across Aerospace, Automotive and Electrification. The ratings also recognized Akkodis as a leader in ER&D Services category exhibiting notable performance in the Europe region.

"It is an honor to be recognized by Zinnov as a global leader in ER&D Services." said Jan Gupta, President, Akkodis. "This rating reflects Akkodis’ commitment to enabling organizations around the world to accelerate and advance in their digital transformation by leveraging the power of the Smart Industry. Our engineering and tech experts are passionate about working side-by-side with clients and partners to co-create solutions and services, at the pace and scale that’s needed to help them navigate disruption, increase performance, and stay ahead of the game."

Sidhant Rastogi, Managing Partner, Zinnov commented, "Akkodis’ commitment to innovation and their deep expertise in incorporating cutting-edge technologies like AI, data analytics, and IoT in manufacturing-intensive sectors, set them apart. Their global delivery network, end-to-end solutions in future mobility, and impressive track record in delivering large-scale e-mobility services, have solidified Akkodis’ position as an Automotive ER&D leader. Their strategic investments in cybersecurity, Software-Defined Vehicles (SDV), and sustainable technologies have positioned them as top contenders well entrenched in the leadership zone, of the 2023 ER&D and Digital Engineering Zinnov Zones ratings."

About Akkodis 

Akkodis is a global digital engineering company and Smart Industry leader. We enable clients to advance in their digital transformation with Consulting, Solutions, Talent, and Academy services. Headquartered in Switzerland and part of the Adecco Group, Akkodis is a trusted tech partner to the world’s industries. We co-create and pioneer solutions that help to solve major challenges, from accelerating the clean energy transition and green mobility, to improving user and patient centricity. Empowered by a culture of inclusion and diversity, our 50,000 tech experts across 30 countries combine best-in-class technologies and cross industry knowledge to drive purposeful innovation for a more sustainable tomorrow. We are passionate about Engineering a Smarter Future Together. akkodis.com | LinkedIn | Instagram | Facebook Twitter

About the Adecco Group

The Adecco Group is the world’s leading talent company. Our purpose is making the future work for everyone. Through our three global business units – Adecco, Akkodis and LHH – across 60 countries, we enable sustainable and lifelong employability for individuals, deliver digital and engineering solutions to power the Smart Industry transformation and empower organisations to optimise their workforces. The Adecco Group leads by example and is committed to an inclusive culture, fostering sustainable employability, and supporting resilient economies and communities. The Adecco Group AG is headquartered in Zurich, Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN). www.adeccogroup.com

Media contacts

Rebecca Bleasdale
Group SVP, Head of Communications, Akkodis
M. +41786432613
E. [email protected]

Lisa Bushka
VP, External Communications, Akkodis
M. +18604630770
E. lisa.bushka@adeccogroup.com

Source : Akkodis Positioned as Global Leader by Zinnov for its ER&D and Digital Engineering Services

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network