Portal Berita Ekonomi Senin, 21 Januari 2019

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Indonesian Paper Makers Benefit from China Import Ban

Foto Berita Indonesian Paper Makers Benefit from China Import Ban
Warta Ekonomi.co.id, Jakarta -

China's ban on the import of waste, including recycled paper products, gives Indonesia's paper producers an opening to expand in China, Fitch Ratings says. The ban, which went into effect in early 2018, has increased the cost of raw materials in China and caused many small and medium paper producers in the country to suspend business activities, resulting in reduced supply.

Indonesia's pulp and paper exports for January-August 2018 rose by 24% yoy to USD3.1 billion, according to Bank Indonesia. This is a reversal from the decline in pulp and paper exports between 2012 and 2016. Fitch believes much of the growth in exports is driven by shipments to the under-supplied Chinese market.

By segment, Fitch expects packaging paper exporters to benefit the most from the Chinese ban on waste imports due to the rapid growth in demand from e-commerce businesses and manufacturers of consumer products.

At the same time, many small- and medium-sized paper packaging makers in China, which rely on waste paper for raw material, have struggled with higher prices after the ban and many have halted production, giving overseas suppliers the chance to meet demand.

In 1Q18, the exports of Indonesia's two largest packaging paper producers, PT Fajar Surya Wisesa Tbk (FASW) and PT Indah Kiat Pulp & Paper Tbk (INKP), increased by 964% and 7%, respectively, from the same period last year. Currently, export sales account for around 25% and 60% of FASW's and INKP's revenue, respectively.

The higher share of exports in these companies' revenue will help improve profitability as exports fetch slightly higher prices than products sold locally. The EBITDA margin of FASW and INKP rose to 26.0% and 38.1% in 1H18, respectively, from 17.7% and 27.7% last year.

Fitch expects robust exports to China to remain robust over the next 18-24 months, as we believe the Chinese government is strongly committed to improving environmental standards. China imports around 50 million metric tonnes per annum (mtpa) of pulp and paper products, and we expect the figure to increase with the ban in place. Indonesia, which is the second-largest exporter in Asia, exports around 3 million-4 million mtpa of pulp and paper products.

Tag: China (Tiongkok)

Penulis/Editor: Cahyo Prayogo

Foto: Antara/FB Anggoro

Kurs Rupiah

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British Pound GBP 1.00 18,754.69 18,562.19
China Yuan CNY 1.00 2,114.10 2,093.06
Dolar Amerika Serikat USD 1.00 14,667.00 14,521.00
Dolar Australia AUD 1.00 10,673.18 10,561.12
Dolar Hong Kong HKD 1.00 1,872.96 1,854.27
Dolar Singapura SGD 1.00 10,659.93 10,553.05
EURO Spot Rate EUR 1.00 16,630.91 16,462.46
Ringgit Malaysia MYR 1.00 3,501.31 3,462.33
Yen Jepang JPY 100.00 12,933.86 12,801.73

Ringkasan BEI

No Name Today Change Stock
1 Composite Index 6448.156 24.376 627
2 Agriculture 1583.292 -1.764 21
3 Mining 1880.920 11.361 47
4 Basic Industry and Chemicals 889.696 -3.628 71
5 Miscellanous Industry 1443.379 27.257 46
6 Consumer Goods 2607.292 -13.145 51
7 Cons., Property & Real Estate 471.624 -0.108 74
8 Infrastruc., Utility & Trans. 1149.241 6.910 71
9 Finance 1234.248 10.015 91
10 Trade & Service 797.089 4.778 155
No Code Prev Close Change %
1 CLAY 180 306 126 70.00
2 NATO 103 175 72 69.90
3 SQMI 306 382 76 24.84
4 KMTR 268 334 66 24.63
5 JIHD 476 590 114 23.95
6 INRU 640 785 145 22.66
7 TNCA 206 250 44 21.36
8 INCF 296 358 62 20.95
9 DUTI 3,630 4,390 760 20.94
10 PADI 920 1,090 170 18.48
No Code Prev Close Change %
1 TFCO 735 620 -115 -15.65
2 OCAP 266 226 -40 -15.04
3 YPAS 660 575 -85 -12.88
4 CTTH 126 110 -16 -12.70
5 MFMI 725 635 -90 -12.41
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10 ASJT 300 280 -20 -6.67
No Code Prev Close Change %
1 INPC 79 80 1 1.27
2 UNTR 26,850 26,925 75 0.28
3 INDY 2,090 2,180 90 4.31
4 ASII 8,275 8,475 200 2.42
5 TLKM 3,990 4,020 30 0.75
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8 KPAS 210 208 -2 -0.95
9 ERAA 2,310 2,310 0 0.00
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