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Sampoerna Predicts 1-2% Drop in Indonesian Cigarette Market

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28 April 2016 08:16 WIB

Paul Janelle, president director of Indonesian cigarette maker PT Hanjaya Mandala Sampoerna. REUTERS/Darren Whiteside

TEMPO.CO, Jakarta - Cigarette company PT Hanjaya Mandala Sampoerna Tbk (HMSP) projected that cigarette market in Indonesia will drop 1-2 percent in 2016. The drop is mainly caused by a 15 percent surge in excise and value added tax. Therefore, cigarette businesses expect the government to consider implementing fair excise policy, which can help support the business.

“It is to protect domestic industry, the farmers and industry workers,” said Sampoerna CEO, Paul Janelle.

Despite having a low projection, the company can still distribute dividend to the shareholders. “We are glad to be able to deliver good sum of dividend to the shareholder,” said Paul.

Sampoerna shareholders have agreed to 99.9 percent dividend from the total of nett revenue in 2015.

However, the company still concerns about the surge on excise and value added tax.

Sampoerna has booked Rp21.9 trillion nett revenue in the first quarter of 2016, 1.7 percent increased on year-on-year.

BAGUS PRASETIYO


Tobacco


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