Some investors continue to speculate on Bumi Resources (BUMI), the largest coal producer in Indonesia controlled by Bakrie Group. In the opening hour of trading this morning, more than one billion shares exchanged hands and lifted the stock by almost 30%. Yesterday, almost 3 billion shares were exchanged hands. Overall, trading activity increased significantly.
Read MoreAs of today (Oct 20), President Joko “Jokowi” Widodo and Vice President Jusuf Kalla have been in office for 2 years. Under their leadership, there have been improvements, among them is the decline in poverty, as the number of poor citizens reached 28.01 million (10.86%) in March 2016, down from 28.51 million (11.22%) in March 2015. Gini ratio also fell to 0.397 from 0.408. The unemployment rate reached its lowest at 7.02 million (5.5%) in February 2016, from 7.45 million (5.81%) in 2015.
Read MoreCompared to other minerals (iron, bauxite, and copper), nickel has attracted lots of investments in smelting facilities in the past few years. Consistency in implementing nickel ore export ban and crackdown by the new government in the Philippines for environmental concerns might benefit Indonesia in the long run, especially if metal prices recover.
Read MoreProperty developer Bakrieland Development (ELTY) booked net profit of Rp72 billion in first half of 2016, against loss of Rp83 billion in the corresponding period of 2015, helped by other income including foreign exchange (forex) gain. While revenues declined 18.6% to Rp512 billion, from Rp629 billion in the previous year.
Read MoreJokowi-Kalla administration set aside Rp607.4 trillion from State Budget 2015 and 2016 for infrastructure development, including for the development of 52 toll road projects in Sumatra, Java, Sulawesi, and Kalimantan. There were financing issues delaying construction and land acquisition for several months early this year, but they’ve gained traction in the past few months.
Read MoreBukaka Teknik Utama (BUKK), a company controlled by the family of vice president Jusuf Kalla, booked net profit of Rp25 billion in the first nine months of 2016, an increase of 33.6% from the corresponding period of 2015, lifted by stronger performance in the third quarter.
Read MoreThe Berkarya Party led by Hutomo Mandala Putra aka Tommy Soeharto, the youngest son of the late second President of the Republic Soeharto, is a new player in Indonesia’s political circuit. It is the sixth political party established by ex-Golkar Party figure. In the first instalment of this series, we talked about how Tommy established the Berkarya Party, and we also listed (and go through briefly) the names in the management structure of the Party. So now, let’s talk about whether or not they will be able to succeed in the 2019 elections and secure enough votes to pass the parliamentary threshold.
Read MoreAnother new political party is aiming to participate in the 2019 elections. The Berkarya Party is led by Hutomo Mandala Putra a.k.a. Tommy Soeharto, the youngest son of the late President of the Republic Soeharto. Who else are in the Party’s management structure?
Read MoreThe Government and the Budget Committee (Banggar) of the House of Representatives (DPR) reached an agreement on the posture of the 2017 State Budget (APBN) for each of the ministries and state institutions. The total amount of the approved budget is Rp763.57 trillion. It’s an increase from the original proposal in the financial note, which was Rp758.37 trillion. In addition to approving the budget for the ministries and state institutions, the DPR also approved the proposed Capital Injection (PMN) for State-Owned Enterprises and the Public Service Agency under the Ministry of Finance.
Read MoreIn the past two weeks, the Corruption Court of the Central Jakarta District Court held two separate hearings on the two suspects in the bribery case involving the registrar of the Central Jakarta District Court Muhammad Santoso. The suspects tried are the Partner of Wiranatakusumah Legal & Consultant Office Raoul Adhitya Wiranatakusumah and his associate Ahmad Yani. In both hearings, the public prosecutor of the Corruption Eradication Commission (KPK) read the defendants’ indictment.
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