PT Tower Bersama Infrastruktur (TBIG) Tbk, controlled by Saratoga Group and Provident Capital, booked net profit of Rp842 billion in the first half of 2016, jumped 77% from the corresponding period of 2015 even though sales revenue increased by 8.7% only.
Read MoreInternational media reported yesterday that Vietnam’s coal imports surged 141% year-on-year to 1.31 million tons in July. It is indeed a good news. Market players, however, expect more good news from China, which is still the world’s single largest user.
Read MoreThe incumbent Governor of Jakarta Basuki “Ahok” Tjahaja Purnama is actively seeking the endorsement of the ruling party PDI-P, even though he has already been officially endorsed by Golkar, Hanura, and Nasdem. Yesterday (August 17), the Governor told the press that he had met with PDI-P Chairwoman Megawati Soekarnoputri and that the latter had said that she’d endorse the former. Ahok also said that Megawati would only endorse the Governor if he’d keep Djarot Syaiful Hidayat, who is also a PDI-P politician, as his vice governor.
Read MoreJokowi-Kalla administration seems determined to accelerate development of public infrastructure, especially toll roads, mass transportation (conventional railways, light-rail transit, mass-rapid transit, and speed train). While there will be no more capital injection into state companies assigned to build the projects, the government set aside Rp21.65 trillion of funding for the so-called State Asset Management Agency (LMAN).
Read MoreThe resource rich West Papua province, the home of Tangguh LNG, is one of the 7 provinces that will take part in the 2017 simultaneous gubernatorial elections. None of the 11 political parties at the provincial legislative council (DPRD) have announced who they’d endorse as their governor and vice governor candidates. But looking at the political constellation, at most five pairs of candidates can run in the race, which would repeat what happened in 2011. The decision of SBY’s Democratic Party and Setya Novanto’s Golkar Party are key factors that’ll determine the number of participants in the race.
Read MoreThe Corruption Eradication Commission (KPK) continues their investigation into the case of corruption that ensnared the former member of the House Commission III of the House of Representatives (DPR) I Putu Sudiartana (Democratic Party). In the past two weeks, the KPK has summoned and asked for information from several parties allegedly involved in the case, including the Governor of West Sumatera Irwan Prayitno (PKS).
Read MoreProperty developer Lippo Karawaci (LPKR) reported a 36% drop in net profit for the first half (H1) of 2016 due to the increased operating cost. The Company booked profit attributable to equity of Rp497.79 billion for the period. Revenues grew by 7.62% to Rp5.1 trillion but operating cost jumped 26% to Rp1.32 trillion. The Company’s operating profit dropped 15.3% to Rp1.04 trillion. Higher interest expenses and promotion costs also impacted on the lower profit growth.
Read MoreThe property industry is expected to recover by end of this year. Property developers are this keen to accelerate expansion. They’ve opted to raise fresh funds through offering shares to public via the initial public offering (IPO) or issuing bonds. In the second half of this year, 2 property developers (Mayapada Properti Indonesia & Anugerah Berkah Madani) are set to list at the Indonesia Stock Exchange (IDX).
Read MorePT Niko Resources Limited, the subsidiary of Alberta-based oil and gas exploration and production company Niko Resources Ltd. (TSX: NKO) was declared bankrupt in July 2016 because the representatives of the company never attended the trial and the meeting of creditors for the entire process of Suspension of Debts Payment (PKPU) that began in January 2016. The creditors, however, still have to remain patient because to date the team of curators has not found any assets that can be used to pay off all of the Company’s debts.
Read MoreThe composite index of the Indonesia Stock Exchange (IDX) gained 0.99% to 5,425 this morning, extending Tuesday’s 0.96% as market participants likely responded well to the 2017 Budget. Meanwhile regional markets were mixed. Investors were focused on buying blue chip stocks this morning such as Astra International (+5.08%), Astra Agro (+3.16%), London Sumatra (+3.6%), and Gudang Garam (+4%),
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