Astra aims to maintain majority market share amid plunging car sales

first_img“The automotive segment contributes around 30 to 40 percent to Astra’s bottom line, so we will likely see further contraction in the bottom line despite the economic recovery,” Koneksi Kapital analyst Alfred Nainggolan said, expecting the profit shrink to continue until year-end due to the low vehicle sales.However, the situation is expected to only be temporary with Alfred believing that the company has the opportunity to grow in 2021 due to improving automotive sales, rising crude palm oil (CPO) prices and growing property business.Astra, which has over 230 subsidiaries working under seven business segments, reported a 23 percent annual decline in revenue to Rp 89.8 trillion (US$6.19 billion) as of June 30. Its net profit, excluding revenue from the sale of Bank Permata shares, nosedived 44 percent annually to Rp 5.5 trillion. Net profit in the company’s automotive segment crashed 79 percent yoy to Rp 716 billion, making it the third-largest contributor to the conglomerate’s net profit, after having contributed the most in June last year.Astra director Johannes Loman expected the company’s motorcycle sales to fall 40 to 45 percent this year. This means Astra projects to sell a total of 2.7 million to 2.95 million motorcycles this year from last year’s 4.91 million units.The pandemic has also affected Astra’s financing business. Director Suparno Djasmin said the company’s financial services subsidiaries had restructured a total of Rp 30 trillion in loans from 1 million customers as of July.“Most of the restructured credits were coming from motorcycle ownership loans because the pandemic disrupted customers’ ability to repay their loans,” he said.He said the rate of loan restructuring had slowed down since June following the government’s decision to ease the PSBB.Astra, a publicly listed company, currently has no plan to expand its businesses despite gaining a significant profit from the sale of its stake at Bank Permata to Bangkok Bank.Bangkok Bank acquired in May a 89.12 percent stake in Bank Permata from Astra and United Kingdom-based Standard Chartered Bank for Rp 33.66 trillion, 1.63 times Bank Permata’s book value. “We are focusing on strengthening our balance sheet, but we are always open if a good opportunity presents itself,” Astra president director Djony Bunarto Tjondro said on Monday.The company announced in June that it halved capital expenditure to between Rp 10 trillion and Rp 11 trillion this year as part of its effort to conserve cash.Astra International shares, traded with the code ASII at the Indonesia Stock Exchange (IDX), had lost 23.47 percent of its value so far this year. The company’s share prices jumped 0.94 percent as of 2:02 p.m. Jakarta time on Tuesday to Rp 5,350 apiece.Topics : Diversified conglomerate PT Astra International is aiming to maintain its car market share at 52 percent this year despite the automotive market’s sluggish performance during the pandemic.The Association of Indonesian Automotive Manufacturers (Gaikindo) has projected that this year’s car wholesales will only reach 600,000 units, a 42 percent plunge compared to last year’s number, as the outbreak hits purchasing power.“We still intend to keep our share at the same rate as last year despite the slump,” Astra director Henry Tanoto said during a virtual press briefing on Monday. This means that Astra expects to sell around 300,000 cars this year, well below Astra’s total car sales in 2019 at 536,402.The market share of Astra, which has around half its revenue sourced from its automotive business, plunged to just 31 percent in May, when national car sales plummeted 95.7 percent year-on-year (yoy) to 3,500 cars following the introduction of large-scale social restrictions (PSBB) to contain the coronavirus spread. Astra usually dominates the market with a share of around 50 percent.Its market share slowly recovered in June to 38 percent and 40 percent in July in line with rebounds in sales nationwide. At least 25,283 cars were sold in July across the country, higher than 12,623 in June but far lower than 89,254 cars in July last year, according to Gaikindo data compiled by Astra.Head of investor relations Tira Ardianti said the company had prepared several strategies to maintain its market share. The strategies include strengthening its product lines with new and revamped models and providing the best customer experience from presales to after-sales, she told The Jakarta Post on Monday. last_img read more

‘We have to play hard’ – Pierre-Emerick Aubameyang calls on Arsenal team-mates to step up against Liverpool

first_imgPierre-Emerick Aubameyang has urged his team-mates to ‘play hard’ against Liverpool (Picture: Arsenal)Pierre-Emerick Aubameyang believes Arsenal can lay down a marker with a positive result at Liverpool this evening but says the team will have to ‘play hard’ to have any chance of beating the Premier League champions.Third-placed Arsenal sit one spot above Liverpool in the table on goal difference and will fancy their chances at Anfield after back-to-back victories over London rivals Fulham and West Ham. The Gunners can take encouragement from the fact they came out on top in an entertaining Community Shield encounter at Wembley last month, where Aubameyang scored a stunning 12th-minute opener. Advertisement The forward put pen to paper on a new long-term deal at Arsenal earlier this month (Picture: Getty)The Gabon striker insists every member of Arsenal’s squad is pushing in the same direction under Mikel Arteta’s leadership.‘Since he came, he brings that atmosphere that everyone feels like they’re at home – so we have to do homework as well!’ Aubameyang joked.‘I think the mentality around the club is going very well and everyone is going on the same way. That’s really important.‘Everyone has this objective, the goal to bring the club back to where it belongs.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityAubameyang is hoping to emulate club legends Ian Wright, Tony Adams and Thierry Henry after signing a new long-term contract and putting an end to the speculation surrounding his future earlier this month.‘I think everyone remembers them because they had this charisma and I think everyone respects them here at the club and of course in the world of football,’ he said.‘I’ve been watching a few videos and I saw Henry playing so I have a lot of respect for them.‘They inspire me and I want to become like them.’What will the result be at Anfield?Liverpool win0%Draw0%Arsenal win0%Share your resultsShare your resultsTweet your resultsFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram. For more stories like this, check our sport page.MORE: Liverpool star Alisson drops hint he could face Arsenal despite injury worryMORE: Darren Bent urges Arsenal to sign Dele Alli from Tottenham Comment Metro Sport ReporterMonday 28 Sep 2020 5:03 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.2kSharescenter_img Aubameyang scored a brilliant goal as Arsenal beat Liverpool to win the Community Shield (Picture: Getty)But Jurgen Klopp’s men will also be full of confidence after three wins on the spin in all competitions – and Arsenal’s captain and talisman knows they will have to be at their best on Merseyside.AdvertisementAdvertisementADVERTISEMENTAsked whether tonight’s clash can be a marker for the rest of Arsenal’s campaign, Aubameyang told the club’s official website: ‘Yes, even if it’s maybe early in the season.‘But it’s still a big game so we’re going to see if we’re ready to compete and to see that we started well.‘We have to play hard and that’s it.’ ‘We have to play hard’ – Pierre-Emerick Aubameyang calls on Arsenal team-mates to step up against Liverpool Advertisementlast_img read more

This coveted home lauded for its architectural design has hit the market

first_img41 Riverview Place, Yeronga.Nestled on a peaceful bend of the Brisbane River, this luxurious residence was featured in Architectural Digest’s ‘Homes that Blur the Line Between Indoors & Out’ for its effortless transition between interior and exterior spaces.The home at 41 Riverview Pl, Yeronga, has Feng Shui-designed living areas and a Japanese-inspired garden, an in-ground trampoline and two heated pools interconnected over two levels by a 1.4m waterfall.41 Riverview Place, Yeronga.A bespoke timber portico and double cedar, rosewood and ebony doors lead into the ground floor, where steps ascend to living and dining spaces separated by a gallery. These areas have high ceilings, sleek tiles, down lighting and decorative cornices, while bordering the dining room is a kitchen with Tasmanian oak cabinetry, an island bench top, breakfast bar and Miele appliances.41 Riverview Place, Yeronga.More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoWalls of glass then open to an expansive balcony with a backdrop of beautiful views across the river to the Indooroopilly Golf Course.The balcony then leads down to the property’s established back yard including the two pools, a riverfront deck and powered jetty, an outdoor 12-burner barbecue kitchen with a suspended copper roof and granite counters and the in-ground trampoline, surrounded by irrigated gardens with extensive feature lighting.Back inside, the ground floor also boasts a walk-in 960+ bottle temperature and humidity-controlled wine cellar along with an office that leads out to the Japanese-inspired garden with a water feature.41 Riverview Place, Yeronga.Completing the level is a triple garage, a bathroom and a laundry with an external drying courtyard.Upstairs, five bedrooms surround a sitting room with a study nook. Four of these bedrooms have built-in wardrobes, while the main has a walk-in wardrobe, an ensuite with twin vanities and a bathtub, and sliding glass doors out to a covered balcony with river views.One of the other bedrooms also has an ensuite, while another opens to the balcony. Completing the level are a bathroom and another laundry.41 Riverview Place, Yeronga.Other features of the property include CCTV security and a six-station colour video intercom, remote-controlled exterior sun blinds and retractable insect screens, bespoke wrought iron features and gates, reverse-cycle ducted airconditioning and rainwater tanks.DETAILSFor sale: Expressions of interestAgent: Jack Dixon and Patrick Dixon, Dixon Family Estate Agentslast_img read more

ECB interest rate decision ‘like a tax’, says Switzerland’s Publica

first_imgStefan Beiner, head of asset management at Publica, Switzerland’s largest pension fund, has said the European Central Bank’s (ECB) recent rate cut had been largely “expected by the markets” but was exactly what European pension funds did not need.He pointed out that the ECB had to date been “less active” than other central banks, and said it was “understandable” that it wanted to try and ensure that, in the real economy, the amount of loans for corporations and consumers would expand.“I do not know whether this measure will actually have a net positive effect on the real economy,” he added, “but we as pension funds are suffering from the low interest rates.”Beiner called the rate cuts a “tax”, which “we – as savers – have to pay via low interest”. He said a rate increase would “hurt pension funds over the short term with an accounting loss” and that, over the long term, higher interest rates would help the pension fund industry.Currently, 10-year Swiss government bonds yield 70 basis points, while a recently placed 50-year Swiss government bond yields just 1.6%.For Publica, which has CHF36bn (€29.5bn) in assets under management, the ECB’s decision to lower the benchmark interest rate from 0.25% to 0.15% means “risk-free(ish) assets have become even more unattractive in terms of return expectations”, and demand for riskier assets such as equities will “potentially increase”.But Beiner warned that equities from industrialised countries, for example, were already “priced quite ambitiously”, and that “many of the underlying structural problems remain unsolved”.At the Swiss Pension Conference, Beiner said Publica reduced its equity exposure at the beginning of the year, as he expects lower returns from the asset class in the coming years.Instead, the fund is considering to go into private debt such as infrastructure debt and direct lending.last_img read more

Dr John Fox: Assisted dying is not the right cure for suffering

first_imgNZ Herald 31 January 2018Family First Comment: A superb response – from someone ‘on the frontline’Make a submission against euthanasia read Brendan Rope’s story of his father’s battle with motor neurone disease with sadness.Stories of such weight are half the argument for assisted dying, and we should take them seriously.But we should also take seriously the assumptions about disability the article also displays. As a trustee of a disability charity, I know many people who can’t speak. Many people who can’t feed themselves.As a sufferer of spastic hemiplegia, I too am in daily pain. I too am frustrated, and angry, and crying, and sad. Our elderly in rest homes, dementia units, and hospitals too know the frustrations of not being able to care for themselves: the pain of having to depend on others.But when you argue that you’d rather be shot than live a disabled life, your argument has profound implications for the value of disabled people, and for those who also have motor neurone disease, spina bifida, or like me, cerebral palsy.We have two options here: view dependency as a degrading and horrible crime (which puts human beings who are dependent on the same level as a sick sheep), or we can do what we do with all other forms of suicidality: youth suicide or elder suicide, and come around the person with proper medical treatments, family and community solidarity, and meaning.Mr Rope announces that suicide is a very different thing to euthanasia, but offers no arguments why this is so—from the disabled corner, I argue it’s exactly the same.READ MORE: up with family issues in NZ. Receive our weekly emails direct to your Inbox.last_img read more

RCSO investigating accidental shooting involving a three-year-old

first_imgVersailles, IN — Shortly after 10 am on September 1st, the Ripley County Sheriff’s Office (RCSO) started an investigation into an apparent accidental shooting that involved a three-year-old child that allegedly shot itself. The investigation came after a 9-1-1 call was placed from a home in Versailles. The child was transported by ambulance to Margaret Mary Health and then to Cincinnati Children’s Hospital Medical Center. The injuries are non-life-threatening and the investigation is still ongoing.last_img read more

Zamora returns to secure Fulham point

first_imgFulham 1 Blackburn 1Bobby Zamora’s equaliser secured a point for Fulham, who still await their first Premier League victory under manager Martin Jol.The Whites dominated much of the game but were unable to find a winner after Zamora cancelled out Ruben Rochina’s spectacular opener.AdChoices广告Zamora made a welcome return from injury and was partnered up front by £10.6m signing Bryan Ruiz, who made his debut following his pre-deadline move from Dutch club FC Twente.It was a tough introduction to English football for Ruiz and the Costa Rican was taken off at half-time having struggled to get into the game.Scott Dann made his debut for Blackburn following his £6m move from Birmingham and the centre-back almost presented Fulham with the opener on 22 minutes.Dann gave the ball straight to Zamora, who then appeared to be fouled in the area by Michel Salgado only for referee Howard Webb to award Rovers a free-kick because the Fulham forward handled the ball as he was felled.The decision was harsh on Jol’s men and came shortly after Whites defender Aaron Hughes limped off and was replaced at right-back by Stephen Kelly.And the home side’s afternoon took another turn for the worse when they went behind to a stunning strike by Rochina in the 32nd minute.Junior Hoilett teed up the young Spaniard, who let fly with a brilliant 30-yarder that flew past keeper Mark Schwarzer and went in off the underside of the bar.But Fulham hit back only five minutes later. Danny Murphy’s ball found Zamora, who breezed past a weak challenge from Gael Givet before curling his shot in off the post.Zamora was partnered by Moussa Dembele in a second half Fulham bossed in terms of possession but struggled to create clear-cut chances.Aside from his first-half aberration, Dann was hugely impressive at the back for Rovers, helping them secure their first point of the season.That may ease some of the pressure on former Fulham assistant boss Steve Kean amid speculation about the Scot’s future as Blackburn manager.Striker David Goodwillie wasted an opportunity to ease even more of that pressure on Kean when he dragged a late shot woefully wide after finding himself through on goal.Rovers goalkeeper Paul Robinson, on the other hand, did his beleaguered boss proud by superbly tipping away Clint Dempsey’s 90th-minute effort.Blackburn ended the match with 10 men because they had used all three of their substitutes before Hoilett went off on a stretcher following a sickening collision with Schwarzer in stoppage time.It happened after Kelly’s error meant Schwarzer had to rush from his line to prevent Hoilett latching onto Robinson’s long kick.last_img read more

F-M sweeps to sectional Class A cross country titles

first_imgPlanted atop both of their respective state rankings, the Fayetteville-Manlius cross country teams returned from their long break to begin what they hoped was a month’s worth of championship efforts.The first of them proved the easiest as the Hornets knocked off all challengers in Saturday’s Section III Class A championship races at Vernon-Verona-Sherrill High School.On a chilly, windy morning at Vernon-Verona-Sherrill High School the boys Class A race was the first on the card – and F-M runners were the first three to cross the finish line. Two hours later, the girls Class A sectional race was underway, with F-M getting closer to the vaunted team approach that has carried it to 11 different national championships in the last decade and a half.Claire Walters again tore to the front, the North Carolina State-bound senior finishing nearly a full minute ahead of her future Wolfpack teammate, Liverpool’s Jenna Schulz, as Walters won in 17:29.6 and Schulz got 18:21.3.Then the Hornets swept the rest of the top five, starting with Hannah Kaercher getting to third place in 18:36.5, with Phoebe White fourth in 18:48.7 and Grace Kaercher claiming the battle for fifth place in 19:29.6.Emerging as F-M’s fifth runner, Debbie Lucchetti made her way to eighth place in 19:53 flat as the Hornets finished with 21 points to Liverpool’s 55. Ani Sydorowych finished 12th in 20:15.9, with Amelia Amack earning 20th place in 20:58.5.It is likely this group of runners that will join the F-M boys as they all make their way to SUNY-Plattsburgh next Saturday for the New York State Public High School Athletic Association championships. The girls Class A race is at 9 a.m. and the girls race is at 11 a.m.Share this:FacebookTwitterLinkedInRedditComment on this Story Running together, Peyton Geehrer and Sam Otis easily outpaced the field, Geehrer prevailing in 15 minutes, 59.1 seconds and Otis, in 15:59.2, one-tenth of a second behind. Geoff Howles was by himself when he took third place in 16:12.6, nearly 20 seconds ahead of fourth-place Nick Ferretti (Rome Free Academy).That top-three sweep accounted for most of F-M’s eventual winning margin as, with 30 points, it was clear of Liverpool’s second-place total of 58 points.To lock up that team title, James Peden made his way to 11th place in 17:09.1, while Jack Altimonda was close behind, getting 13th place in 17:12.5. Ben Perry was 21st in 17:55.5 as Daniel Patrick got 26th place in 17:58.4, followed by William Seamans finishing 29th in 18:04.7.center_img Tags: cross countryF-Mlast_img read more

See Cristiano Ronaldo score his 56th career hat-trick as Juventus thrash Cagliari [VIDEO]

first_img Source: BBC Sport Cristiano Ronaldo scored his first Serie A hat-trick as Juventus beat Cagliari.Ronaldo took advantage of a Ragnar Klavan error early in the second half to give the champions the lead, before scoring a penalty after Marko Rog fouled Paulo Dybala.Portugal legend Ronaldo then set up Gonzalo Higuain to put Juve 3-0 up.And moments later he got his 56th career hat-trick when he slipped the ball under goalkeeper Robin Olsen.The 34-year-old is in his best scoring run since his £99.2m move from Real Madrid in 2018, scoring in each of his last five Serie A games.Juventus overtake Inter Milan to go top in Serie A, but Inter can go back to the summit if they beat Napoli at 19:45 GMT.It was Ronaldo’s second hat-trick for Juve, having scored three against Atletico Madrid in last season’s Champions League last-16 tie. He has scored three hat-tricks for Portugal since then.The former Manchester United forward is the first player since Alexis Sanchez to score a hat-trick in the Premier League, La Liga and Serie A.Watch the goals below: Tags: Cristiano RonaldoJuventusSerie Alast_img read more

Bills DE Jerry Hughes confronts official in tunnel after loss to Dolphins

first_imgBills defensive end Jerry Hughes was visibly frustrated after the game.But, it wasn’t the 21-17 loss to the Dolphins that set the veteran off. It was an official. Hughes ran off the field Sunday and straight toward the group of officials. He got in the face of one and later appeared to shout that the referee called him a “b—.”Jerry Hughes runs off field and straight to officials, getting in the face of one in particular. Clearly something said that set Hughes off. #Bills— Jon Scott (@JonScottTV) December 2, 2018Later in the locker room, Hughes made the postgame exchange even more confusing when questioned about the incident.”What anger? Who was angry?” Hughes asked the media. He admitted he was frustrated with the team’s loss, but continued to deflect questions about the incident.”Who did? I did? I did what?,” he again asked when another reporter inquired about the exchange. “I would love to see the video,” Hughes repeated.Here’s the conversation with Jerry Hughes afterwards about confrontation.When asked specifically about it Hughes repeatedly says “I’d love to see the video.” #Bills— Jon Scott (@JonScottTV) December 2, 2018Multiple reports stated the NFL would be looking into video of the altercation.last_img read more