Coal Producers in Q3: Luhut’s Toba Bara

Toba Bara Sejahtera (TOBA), a coal producer controlled by the family of Luhut Binsar Pandjaitan, coordinating minister for maritime affairs—-supervising energy & mining sector, booked net profit of US$1.73 million in the first nine months of 2016, collapsed 81.8% from the corresponding period of 2015.

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Speculations on Bakrie Stocks (3)

Bakrie Group-related stocks dominated Wednesday’s trading. More than 3.7 billion shares of Bumi Resources (BUMI), the largest coal producer in Indonesia, were exchanged hands, while the stock jumped 35% to Rp202 after market authorities resumed its trading.

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New PPATK Boss

The term of the current Chief of the Financial Transaction Reports and Analysis Centerr (PPATK) Muhammad Yusuf (and his Deputy Chief Agus Santoso) ends today October 26, 2016. Ending weeks of speculation, President Joko “Jokowi” Widodo has chosen the man who will replace Muhammad Yusuf; he is a career bureaucrat from the Ministry of Finance, Kiagus Ahmad Badaruddin.

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9M/16 Results: Bank Mandiri

Bank Mandiri (BMRI) booked profit after tax of Rp12.01 trillion for the first nine months to September 2016 period (9M/16); it declined 12.6% from Rp14.6 trillion in the corresponding period of 2015 due to higher provision for loans. While pre provision operating profit (PPOP) grew by 16.4% to Rp31.87 trillion, from Rp27.37 trillion in the previous year.

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2017 Regional Elections Update: Gorontalo and West Sulawesi

On Oct. 25, at around 5:15 am local time, the Gorontalo Election Commission (KPUD) announced that three gubernatorial pairs are eligible to compete in the Province’s 2017 gubernatorial election. Elsewhere, the provincial election commission in West Sulawesi declared that three gubernatorial pairs are eligible to compete in the 2017 gubernatorial race of the resource-rich province of West Sulawesi.

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Jonan-Archandra on Mahakam Block

State-owned oil and gas company Pertamina and the special task force for upstream oil and gas (SKKMigas) have on Tuesday (Oct 25) signed amendment of production sharing contract (PSC) for Mahakam Block, the largest gas producing block in the country. This is the first major decision approved by the duet of Ignatius Jonan and Archandra Tahar at energy & mineral resources ministry.

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Q3 Corporate Results: Unilever

PT Unilever Indonesia Tbk (UNVR), market leader for personal, home care, and foods & refreshments, booked net profit of Rp1.45 trillion in the third quarter of 2016, an increase of 16% from the corresponding period of 2015, despite softening of sales growth.

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One Fuel Price policy

Last week the President announced that fuel prices are to become the same across the entire archipelago. The President made the announcement while he was visiting Papua—due to weak infrastructure and poor distribution channels, prices of gasoline and diesel are about ten times as expensive in Papua compared to Java. In order to realize President Joko Widodo’s “One Fuel Price” policy, state-owned oil and gas company Pertamina will need to invest about Rp380 billion in additional infrastructure.

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October 2016
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