AKR Corporindo (AKRA) is one of losers on IDX year-to-date. The stock lost 5.2% as investors realized last year’s gains. Its sales revenue dropped 28.3% in the first half of 2016 due to falling oil prices, but its revenues from industrial estate and property started to pick up. On Monday, Aug 1, we attended public expose of the Company.
Read MoreMalaysian company United Malacca Berhad has decided to expand operations in Indonesia. The Company has just signed memorandum of understanding (MoU) with Indonesian businessmen to acquire a company holding concession right to develop about 59,920 hectares of land within an industrial plantation area located in Central Sulawesi.
Read MoreThe Hong Kong Shanghai Banking Corporation (HSBC) has decided to merge its Indonesian operation with Bank Ekonomi Raharja (BAEK). The consolidation, which started last year, takes place 18-24 months. So, we will see a bank with combined asset of more than Rp130 trillion next year. How about Standard Chartered Bank (SCB) Indonesia and Bank Permata (BNLI), which is co-owned by SCB and Astra International?
Read MoreThe incumbent Governor of Banten Rano Karno has officially secured political endorsement from his party PDI-P to run for his re-election in Banten’s 2017 gubernatorial election. Each of Rano’s two contenders, Andika Hazrumy and Wahidin Halim, have also officially secured the endorsement of their respective political party Golkar and Democratic Party. The biggest question now is who will become the running mate of these big names?
Read MoreOperators of TV stations will be required to pay more for the fees to use radio frequency (BHP). Ministry of information and communication plans to charge TV operators the way the government collecting universal service obligation (USO) from telecommunication operators.
Read MoreOn July 23, 2016, an offshore services provider Otto Marine Limited (SGX: G4F) announced that its shipyard subsidiary in Batam, PT Batamec Shipyard, had commenced proceedings in the High Court of Singapore and arrested a vessel named “Ratna Blessing”. The lawsuit was filed against RS Marine Investments Pte Ltd, the owner of the vessel, which reportedly failed to make payments for the services given by Batamec. On July 25, 2016, however, Otto Marine decided to release “Ratna Blessing”.
Read MoreMost small-sized banks suffered negative cash flows in the first half (H1) of 2016, compared to positive cash flows in the same period of 2015. Some with already negative cash flows experienced the expanded negative cash flows. But the strong cash on-hand would help banks serve their operations.
Read MoreBank Mayapada (MAYA), controlled by Dato’ Tahir, continues its growth to Rp52 trillion of assets by June 30, 2016. Bank Mega, controlled by Chairul Tanjung, meanwhile, declined further by 5% to Rp64.8 trillion due to falling third party time deposits in the bank. Development of these banks deserved attention due to different dynamics in their overall operations.
Read MoreAsman Abnur, a politician from the National Mandate Party (PAN) is the new Minister of State Apparatus & Bureaucratic Reform to replace Yuddy Chrisnandi, a politician from Wiranto’s Hanura Party. Asman will be the only PAN representative in the cabinet.
Read MoreThe Muhammadiyah is the second largest Muslim organization in the country; they are not to be ignored. And yet when President Joko “Jokowi” Widodo assembled his cabinet, he did not appoint one of their representatives into the cabinet. With the appointment of Prof. Dr. Muhajir Effendy, M.AP., as the new Minister of Education to Anies Baswedan, however, the Muhammadiyah now has one of theirs in a position of power.
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