In order to generate more tax revenue in 2016 the Indonesian government plans to raise tobacco taxes by 23 percent (as mentioned in the draft of the 2016 State Budget). This plan resulted in concern among Indonesia’s cigarette producers as the country’s purchasing power has already been curtailed amid the nation’s economic slowdown and high inflation. Contrary to the global trend, the Asian region recorded solid tobacco sales growth in recent years but now these countries seem to join in on anti-tobacco measures such as higher excise taxes and large pictorial warnings on packages.

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Produsen rokok terbesar Indonesia, HM Sampoerna, diprediksi akan melanjutkan rights issue yang telah direncanakannya kendati kondisi pasar saham sedang lemah. HM Sampoerna, anak perusahaan dari raksasa rokok dan tembakau yang bermarkas di Amerika Serikat (AS) Philip Morris International, harus memenuhi persyaratan minimum free-float di Bursa Efek Indonesia (BEI) yang baru-baru ini diubahkan.

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Dalam rangka mematuhi peraturan yang baru, Philip Morris International Inc. akan meningkatkan rasio free float dari unit Indonesianya HM Sampoerna di Bursa Efek Indonesia (BEI) dari 1,82% menjadi 7,50%. Per Januari 2016, semua perusahaan yang terdaftar di BEI diharuskan menjual setidaknya 7,5% dari saham mereka kepada publik. Kendati begitu, saat ini Philip Morris memiliki 98,18% dari saham HM Sampoerna, manufaktur rokok terbesar di Indonesia dan salah satu perusahaan terbesar di BEI dalam konteks kapitalisasi pasar.

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The number of smokers in Indonesia continues to rise from year to year. Based on the latest data from Basic Health Research (Riset Kesehatan Dasar) a total of 58.8 million Indonesians aged over ten years smoked in 2013, more than ten times the population of neighbouring Singapore. In one year, these smokers lit around 225 billion cigarettes making Indonesia the third-largest tobacco consumer after China and India. More alarming, about four million of these Indonesian smokers are children between the age of 10 to 14 years.

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HM Sampoerna, Indonesia's largest tobacco producer by market capitalization (controlling about 23 percent of the Indonesian tobacco market), plans to increase its free-float shares by 5.68 percent (valued at USD $1.27 billion) in order to meet the minimum free float requirement of 7.5 percent set by the Indonesia Stock Exchange (IDX) in a regulation introduced in January 2014 and which will come into effect on 30 January 2016. By this date all listed companies on the IDX must have a minimum free float of 7.5 percent.

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Indonesian tobacco giant Hanjaya Mandala Sampoerna (HM Sampoerna), subsidiary of Philip Morris International, is studying the requirement to increase its free float ratio from (a mere) 1.82 percent to 7.50 percent. Last year, the Indonesia Stock Exchange (IDX) announced that it would force listed companies to offer at least 7.50 percent of their enlarged equity to the public. This rule will come into effect in January 2016. HM Sampoerna is the third-largest Indonesian company in terms of market capitalization (IDR 295 trillion).

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Starting from January 2015, Indonesian tobacco products are subject to an average tax rise of 8.7 percent. The excise tax on machine-rolled cigarettes becomes IDR 355 (USD $0.03) and on hand-rolled cigarettes IDR 290 (USD $0.02) per stick. The tax hike is implemented by the government in a move to increase state income through tax revenues. The higher excise tax is expected to have a minor effect on tobacco sales in Indonesia as retail prices for cigarettes remain among the lowest in the Southeast Asian region.

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On 26 October 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic and political topics such as last week's inauguration of Indonesia’s seventh President, economic growth, the impact of slowing GDP growth in China, a palm oil update, new rules in the tobacco industry, and more.

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On 19 October 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as the performance of Indonesian stocks and the rupiah, foreign direct investments, an update on the coal mining sector, tax, the cement industry, palm oil, steel industry, and more.

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Indonesia's largest company by market capitalization is still HM Sampoerna, the country's largest tobacco company. The company has been the top company in Indonesia since March 2013 when it replaced Astra International, Indonesia's largest diversified conglomerate, on the top spot. Astra had been Indonesia's largest company since 2010. Currently, the third-largest company in terms of market capitalization is Unilever Indonesia. Unilever, which is Indonesia’s largest consumer goods producer, jumped four places in the ranking since late 2012.

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