Yuanta Indonesia Morning Journal - 21 July 2025

CORPORATE
• MTEL to buyback share up to IDR1.0tn
• JPFA Expands Poultry and Dairy Business to Strengthen 2025 Performance
• ACES Distributes Dividend Amid Ongoing Sales Decline
• SMRA to continue rely on Serpong project
• NICL’s 1H25 bottom line soared by 386% YoY
• ITMG to diversify its business into solar panel business
• INCO targets USD1.2bn for its projects