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Semen Indonesia and Indocement market shares drop slightly

14 October 2019 14:03

JAKARTA. PT Solusi Bangun Indonesia Tbk's (SMCB) cement brand Dynamix contributes to the declining market shares of PT Semen Indonesia Tbk (SMGR) and PT Indocement Tunggal Prakarsa Tbk (INTP), which dropped 40-50 bps year on year (yoy) in September 2019.

"In SMGR's case, its declining market share is caused by SBI since the increase of the average cement selling prices of SMGR's and SMCB's cement brands," said Mandiri Sekuritas analysts Priscilla Thany and Tjandra Lienandjaja in an official statement.

The two analysts also believe that SMCB, through its Dynamix brand, plays a powerful role in the cement market. The new brand has a strong market share in West Java.

INTP's cement sales from January to September (9M) 2019 were recorded at 12.6 million tonnes, down 1.5% yoy, while SMGR's cement sales amounted to 2 million tonnes, down 4.3% yoy. Mandiri Sekuritas notes that the lower demand was caused by the completion of most of the government's infrastructure projects. (KR/MS)

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