Mandiri Sekuritas Cement: A slight decrease on yoy August sales (Cement Sector, Neutral)

August national cement sales experienced a slight decrease, -3% yoy and - 0.4% mom, to 3,903k tonnes which due to seasonal fasting period, added with prolonged wet season. Sulawesi area was reported as the biggest loser with -21% yoy, while it contributes 5.5% of total sales during the month, meanwhile Kalimantan was reported as the biggest gainer with 16.2% yoy growth (6% of total supply). Sumatra and West Java area as the main contributor of supply was reported rather flattish with growth, 4.3% and - 1%, respectively. In the mean time, Total Indonesia cumulative sales stand at 28,741k tones with Java contributes 14,541k tones or 54.0% of total sales. Following the slow trend, we still call neutral on the sector.