Shares of PT Gozco Plantations Tbk (GZCO) gained 4% Tuesday (Nov 29) as investors responded positively the Company’s decision to divest 99.9% shares in PT Palmdale Agroasia Lestari Makmur to PT Bangka Bumi Lestari for nominal value of Rp300 billion. The divestment would set GZCO free from obligations related to Rp400 billion loan facilities provided by some banks to Palmdale.
Read MoreThe long-delayed toll road connecting Tanjung Priok, the largest port in Indonesia, will soon enter commercial operation. This will significantly boost Indonesia’s logistic profile. Some sections of trans-Java toll road project will also enter commercial operation next year and 2018, increasing competitiveness of Indonesian logistics to investors and tourism industry.
Read MoreLand acquisition for Bakeuheni-Terbanggi Besar (141 KM) toll road in Sumatra has been faster recently. On November 25, for example, the government paid out compensation for 199 parcels of land in Serdang village. Earlier on November 17, the government also paid out compensation for 10 parcels in Gali Village, Lampung province, paving the way for faster construction of Section II of the toll road.
Read MoreThe investigation conducted by the Corruption Eradication Commission (KPK) on the case of alleged graft on the procurement of electronic identity card (e-KTP) during the period of 2011-2012 is getting more complicated after new problems slowly arise since early October 2016. Recently, PT Sandipala Arthaputra, a company in the consortium filed for a pre-trial as the result of a different investigation on the case conducted by the Criminal Investigation Unit of the National Police’s Headquarter (Bareskrim Mabes Polri). What is the result of the trial?
Read MoreThe investigation conducted by the Corruption Eradication Commission (KPK) on the case of alleged graft in the procurement of electronic identity card (e-KTP) during the period of 2011-2012 is getting more complicated after new problems slowly arise since early October 2016. After the appearence of PT Biomorf, a US-based company and the sub-contractor of the winning consortium, who claimed the Government owes them US$90 million, now another company in the consortium reportedly filed for a pre-trial as the result of a different investigation on the case conducted by the Criminal Investigation Unit of the National Police’s Headquarter (Bareskrim Mabes Polri). This series of article will explain the series of events and the people allegeldy related to the case.
Read MoreFinancing firm, for car and motorcycle, Mandiri Tunas Finance (MTF), subsidiary of Bank Mandiri (BMRI) mulls to launch the initial public offering (IPO) next year. In the past few years, MTF only raised funds from issuing bonds and bank loans to support its financing. Next year MTF targets new booking of Rp20 trillion, a 11% rise compared to Rp18 trillion targeted for this year.
Read MoreComposite index of the Indonesia Stock Exchange (IDX) closed higher by 0.91% in morning session Tuesday (Nov 29) as investors returned to stocks suffering from corrections in the past few trading days. With the exception of India’s S&P Sensex and China’s SSE Composite Index, other markets were in red Tuesday.
Read Moretradingeconomics.com quoted thermal coal price of US$92.5 per ton last Friday (Nov 25), collapsed almost 13% from earlier quotes, contributing to 12% weekly correction. This is the biggest daily correction so far since the commodity rallied from its low few months back to multi-year high. Why?
Read MoreShares of Trada Maritime (TRAM), the troubled shipping company, retreated by 6% to Rp181 Monday (Nov 28). Still, Trada is among the best performing stocks with 262% gain year-to-date. At the current price, Trada has market capitalization of US$130 million, more than ten times its equity. Seriously?
Read MorePT Ancora Indonesia Resources Tbk (OKAS) booked net loss of US$3.86 million in the first nine months of 2016, expanded 35% from the corresponding period of 2015 due to falling sales revenues and squeezed margins. This is one of portfolios of Ancora Group, a private equity firm established and owned by Gita Wirjawan, former banker and cabinet member.
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