PT Citra Maharlika Tbk (CPGT), previously Cipaganti, incurred a negative working capital of Rp321.65 billion per June 2016 with current ratio only 12.25%. It suffered loss of Rp76 billion in the period, recording deficit of balance of Rp144.1 billion. The reason is that the Company’s operating income dropped significantly as the fleet also declined.
Read MoreThe composite index of the Indonesia Stock Exchange (IDX) gained 0.3% to close at 5424 Tuesday (Oct 18) with foreign investors booked net buy of Rp101.64 billion, bringing year-to-date buy to Rp32.77 trillion. The rupiah also strengthened to Rp13,044 against the U.S. dollar on Tuesday. BPS reported that the local currency appreciated 2.27% against the U.S. dollar in September, reaching its strongest level (middle rate) at Rp12,937 per dollar.
Read MoreFollowing the raid conducted on the afternoon of October 11, 2016 at the Ministry of Transportation on reports of “pungli” (the illegal levies that corrupt public officials charge for, among others, the processing of licenses), President Joko “Jokowi” Widodo ordered the establishment of a special task force to focus on pungli eradication. On October 13, 2016, the Coordinating Minister for Politics, Law, and Security Wiranto formed said task force and named it the Saber Pungli (Pungli Eradication) Task Force. But questions followed. What legal basis is there for such a task force? How long will the team work on this issue? How will they work and will it not create conflicts given the already existing structure of law enforcement?
Read MoreBatang coal-fired power plant in Central Java (2×1000 MW) is not under Jokowi-Kalla’s signature 35,000 MW program, but the administration managed to solve land acquisition issue, which forced years of delay in its construction few months back. How about the 35,000 MW program itself?
Read MoreThe Corruption Eradication Commission (KPK) seem to have geared up on their investigation into the procurement of electronic identity card (E-KTP). Recently, the KPK re-examined two suspects in the case together with Muhammad Nazaruddin, the graft convict and former treasurer of Democratic Party. But a question lingers: will the KPK be able to prosecute all responsible parties this year?
Read MoreThe Government, by way of the Ministry of Environment and Forestry, are still battling the perpetrators of 2015 forest fires. After winning the trial against PT National Sago Prima (NSP), a subsidiary of PT Sampoerna Agro Tbk on August 11, 2016, the Ministry is attending trials of other companies such as, PT Waringin Agro Jaya (WAJ), a Company that operates in Palembang, South Sumatera.
Read MoreRumor has spread inside the Ministry of Energy and Mineral Resources (ESDM) that the new Minister of ESDM Ignasius Jonan and Vice Minister of ESDM Arcandra Tahar will be making changes to the line-up of key officials. Who’s going to be moved into and out of their position?
Read MoreBHP Billiton produced 7 million tons of thermal coal in the quarter ended Sept 30, 2016, down 4% from the corresponding quarter last year, but grew 9% from the previous quarter. The Company, considered the largest mining company in the world, sees early signs of recovery in commodities market.
Read MoreMinistry of industry plans to issue new regulation, which basically strictening requirements for new investments in cement industry to solve the increasing oversupply. Semen Indonesia (SMGR), the largest cement producer, however, expects its expansion won’t be halted because its factories are now running at full capacity.
Read MoreThe government and House Commission XI have agreed on capital injection of Rp47.15 trillion (US$3.62 billion) for state companies in the State Budget 2017. Most of the funds will flow into infrastructure projects, including financing of land acquisition.
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