Day: October 25, 2016

Q3 Corporate Results: Telkom

Telco giant PT Telekomunikasi Indonesia (TLKM) Tbk booked net profit of Rp14.73 trillion in the first nine months of 2016, an increase of 27.6% from the corresponding period of 2015, thanks to strong performance in the first half. In the third quarter, Telkom’s growth in sales, operating and net profit were moderated.

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Electherm v. Iqbal Hadromi

Last week, Gujarat-based Electrotherm (India) Ltd (NSE: Electherm) won the default lawsuit that they filed at the South Jakarta District Court against one Iqbal Hadromi, the partner of Hadromi & Partners Law Firm. Iqbal is the legal counsel of PT Putera Negeri Sakti and PT Apple ETPNS, the subsidiaries of Hong Kong-based Apple Commodities Limited.

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Updates on Putu Sudiartana’s Case

The first trial on the graft case involving the former member of the House Commission III of the House of Representatives (DPR) I Putu Sudiartana (Democratic Party) was held in September 2016. The first suspect tried in said trial is Yogan Askan. Several facts were presented at the hearing. Later on October 24, 2016, the Corruption Eradication Commission (KPK) told the press that Putu’s investigation file had been handed over to prosecutors.

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9-Month Results: BRI, BTN, and UOB

The banking sector shows its improved earnings for the nine months to September of 2016. Bank Tabungan Negara (BTN) and UOB Indonesia reported a 32% growth in profit attributable to equity, backed by loan growth, while Bank Rakyat Indonesia (BRI) only posted a 2.9% growth.

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Corporate Results for 9M 2016

Textile and garment giant PT Sri Rejeki Isman Tbk (SRIL) booked net profit of US$44.9 million in the first nine months of 2016, an increase of 17.2% from the corresponding period of 2015. The Company’s third quarter was significantly stronger than the same period last year, but weaker than the first half of 2016.

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2017 Regional Elections Update: Aceh & Banten

On Monday (Oct. 24), the Aceh Election Commission (KPUD) officially announced that six gubernatorial pairs are eligible to compete in Aceh’s 2017 gubernatorial election. On the same day, the other provincial election commission in Banten announced that two gubernatorial pairs will be going head-to-head in the province’s 2017 gubernatorial race. Who are they? Which gubernatorial pair will have the best chance at winning the race in each province?

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Foreign Buying & Controlled Economy

Foreign investors went into massive buying of local stocks on Monday (Oct 24), recording net buy of Rp1.11 trillion. Year to date, foreign investors’ net buy has thus reached Rp34.06 trillion. Trading value reached Rp10.69 trillion yesterday, higher than its daily trading value of Rp6.5 trillion.

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