Portal Berita Ekonomi Minggu, 18 November 2018

Perspektif Baru Bisnis & Ekonomi

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Executive Brief

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

Mata Uang Simbol Nilai Jual Beli
Arab Saudi Riyal SAR 1.00 3,909.74 3,869.89
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 6012.350 56.614 616
2 Agriculture 1444.624 20.661 20
3 Mining 1863.510 10.282 47
4 Basic Industry and Chemicals 792.445 13.262 71
5 Miscellanous Industry 1418.243 2.734 45
6 Consumer Goods 2347.362 0.220 49
7 Cons., Property & Real Estate 420.337 3.422 72
8 Infrastruc., Utility & Trans. 1092.429 22.357 71
9 Finance 1137.981 14.830 91
10 Trade & Service 810.548 3.800 150
No Code Prev Close Change %
1 POLA 135 228 93 68.89
2 SOSS 1,560 1,950 390 25.00
3 SURE 2,350 2,930 580 24.68
4 RUIS 230 282 52 22.61
5 ARTO 158 190 32 20.25
6 TRUK 126 151 25 19.84
7 NUSA 254 294 40 15.75
8 ISSP 79 91 12 15.19
9 APEX 1,520 1,720 200 13.16
10 HOME 107 118 11 10.28
No Code Prev Close Change %
1 YULE 190 131 -59 -31.05
2 YPAS 690 525 -165 -23.91
3 AKPI 900 780 -120 -13.33
4 SQMI 248 216 -32 -12.90
5 RELI 280 246 -34 -12.14
6 TAMU 2,700 2,400 -300 -11.11
7 TIRA 154 138 -16 -10.39
8 UNIT 282 254 -28 -9.93
9 IDPR 775 700 -75 -9.68
10 HDTX 197 178 -19 -9.64
No Code Prev Close Change %
1 ESTI 108 99 -9 -8.33
2 BBRI 3,410 3,490 80 2.35
3 TLKM 3,910 4,050 140 3.58
4 BBCA 24,175 24,825 650 2.69
5 HMSP 3,480 3,420 -60 -1.72
6 WSKT 1,500 1,530 30 2.00
7 SMGR 10,300 11,000 700 6.80
8 KPAS 585 540 -45 -7.69
9 ERAA 1,725 1,840 115 6.67
10 BBTN 2,300 2,400 100 4.35

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