Starting from the end of October 2017, Indonesian retail company Mitra Adiperkasa will close all of its Lotus Department Store outlets as the department store chain fails to contribute positively to the corporate earnings of the listed company. Mitra Adiperkasa is currently restructuring its department store business segment in an effort to reduce the company's operational costs.
Update COVID-19 in Indonesia: 248,852 confirmed infections, 9,677 deaths (21 September 2020)
21 September 2020 (closed)
USD/IDR (14,951) +2.00 +0.01%
EUR/IDR (17,446) +13.55 +0.08%
Jakarta Composite Index (4,999.36) -59.86 -1.18%
Below is a list with tagged columns and company profiles.
Today's Headlines Mitra Adiperkasa
The plan of Indonesian retail company Mitra Adiperkasa to sell 20 percent of its stake in subsidiary MAP Boga Adiperkasa is expected to have a good impact on the financial performance and share performance of the company. MAP Boga Adiperkasa is a leading food and beverage retailer that operates five exclusive brands in Indonesia (including Starbucks, Pizza Express, Krispy Kreme, Cold Stone Creamery, and GODIVA).
Mitra Adiperkasa, the retail company that holds the license to operate Starbucks in Indonesia, said its corporate performance will not be too much affected by the terrorist attacks in Jakarta. The company's Starbucks branch located at Jalan MH Thamrin No. 9 in Central Jakarta was target of Muslim militants on Thursday (14/01). After the attacks Mitra Adiperkasa closed all its Starbucks branches in Jakarta for the day. On Friday (15/01) the branches reopened with the exception of the Thamrin branch that was heavily damaged by the terrorist actions.
Indonesia Investments updated the company profile of Mitra Adiperkasa (MAPI). The company is an Indonesian retail company with a diversified portfolio which includes department stores, fashion, sports equipment, food & beverages, supermarkets as well as lifestyle products. Mitra Adiperkasa has 1792 retail outlets, that contain more than 150 brands, in 58 cities across Indonesia. The company is franchise holder of various and numerous well-known global brands such as Starbucks, Zara and Nine West.
Indonesia Investments added financial highlights to the company profile of Mitra Adiperkasa (MAPI). The company is an Indonesian retail company with a diversified portfolio that includes department stores, fashion, sports equipment, food & beverages, supermarkets and lifestyle products. It has 1588 retail outlets, that contain more than 100 brands, in 56 cities throughout Indonesia. The company is franchise holder of various and numerous well-known global brands such as Starbucks, Zara and Nine West.
Latest Columns Mitra Adiperkasa
Coffee chain operator Starbucks, which is active in Indonesia via a partnership between Starbucks Coffee International and local Indonesian retail company Mitra Adiperkasa, launched its Starbucks Mobile App in Indonesia on Friday (18/11). Customers can now pay through this mobile app in more than 260 Starbucks stores across Southeast Asia's largest economy. A free Earl Grey Jelly Frappuccino is available to those who use the mobile app through November 2016.
Indonesian retail businesses are optimistic that their performance will improve in 2016 on the back of rising purchasing power amid the government's decision to cut energy tariffs (fuel and electricity) and its plan to raise non-taxable income by 50 percent. These moves mean that Indonesian consumers (particularly in the lower middle class segment) should have more money to spend. Tutum Rahanta, Deputy Chairman of the Indonesian Retailers Association (Aprindo), says retail business can grow by 12 - 15 percent (y/y) in 2016, considerably higher than the 7 - 8 percent (y/y) growth pace realized last year.