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INTP – Projected demand increase due to 3 mn housing program Indocement Tunggal Prakarsa (INTP) projects cement demand growth of 1-3% yoy this year due to the government’s 3 mn housing program. This program is expected to align with school renovation projects and value-added tax (VAT) discounts for the property sector. The cement industry’s utilization rate also has the potential to increase to 55-60% this year. However, oversupply conditions and infrastructure budget cuts will remain challenges for INTP. Note that, INTP recorded revenue of IDR9.23 tn (+4.5% yoy) and net profit of IDR1.05 tn (+16.67% yoy) in 9M24. (Source : Kontan)