Month: November 2016

High Court Verdict for Abdul Khoir and Dewie Yasin Limpo

Posted by | Nov 2, 2016 |

Corruption Eradication Commission (KPK) filed for an appeal against the verdict of the trial of the Director of PT Windhu Tunggal Utama Abdul Khoir and the verdict of the trial of the former Hanura politician Dewie Yasin Limpo. The Jakarta High Court has decided on both appeals. What’s interesting about these two cases are the different arguments that the KPK used in their appeals. The KPK consider Abdul Khoir’s sentence too heavy. The sentence handed to Dewie, on the other hand, the KPK consider to bear no deterrent effect.

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9M Results: Adhi Karya, PP, Waskita Karya

Posted by | Nov 2, 2016 |

State construction firm Adhi Karya (ADHI) reported a 16.3% decline in net profit to Rp115 billion in the first nine months (9M) of 2016 due to poor performance in the third quarter (Q3), which fell 11.2%. Operating profit and revenues increased 5.1% and 8.9% respectively in 9M period, and growing 16.3% and 24.4% each in Q3. As the Company recorded a 68.7% jump in financial charges to Rp167.4 billion against previous Rp99.45 billion profit for the period declined accordingly.

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Wiranto & Friction inside Hanura

Posted by | Nov 2, 2016 |

The PPP party are not the only one experiencing (a new episode of) internal conflict. The Hanura Party seems to be going through its own internal discord. The problem inside Hanura is centered on the discussion among the Party’s founders on an extraordinary congress to elect a new chairman for the Party to replace General (ret) Wiranto. Wiranto insists that the extraordinary congress is not necessary because he’s still in charge, despite being the Coordinating Minister for Politics, Law & Security Affairs.

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Healthcare Players in Q3: Kalbe, Tempo Scan, & Merck

Posted by | Nov 2, 2016 | ,

PT Kalbe Farma (KLBF) Tbk, the largest pharmaceutical company listed on IDX, booked net profit of Rp1.7 trillion in the first nine months of 2016, an increase of 13.6% from the corresponding period of 2015. The Company reported significantly better bottomline in the third quarter on resilient sales growth and higher margins.

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Accelerated Inflation & Setback in Manufacturing

Posted by | Nov 2, 2016 |

Concerns about Indonesia’s manufacturing sector flared up again after reports that Indonesia’s manufacturing purchasing managers’ index (PMI) declined to a reading of 48.7 in October 2016 (dropping significantly from 50.9 in September). It was the first time since July 2016 that Indonesia’s PMI had contracted (a reading below 50.0 signals contraction). Employment, new orders, as well as output all contracted in October, while pre-production stocks rose (slightly).

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Cable Manufacturers in Q3

Posted by | Nov 2, 2016 | ,

The financial statement of three cable manufacturers listed on Indonesia Stock Exchange (IDX)- Jembo Cable (JECC), Supreme Cable (Sucaco/SCCO), and Kabelindo Murni (KBLM)—-for the first nine month of 2016 shows the positive growth in manufacturing sector. The growth is supported by power transmission projects from PT Perusahaan Listrik Negara (PLN) and the investments In telecommunication industry.

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Beer Players in Q3: Multi Bintang vs Delta Djakarta

Posted by | Nov 2, 2016 | ,

Beer market leader Multi Bintang Indonesia (MLBI), controlled by Heinneken, booked net profit of Rp679 billion in Jan-Sep 2016, jumped 92% from the corresponding period of 2015 as sales normalized in domestic market. Delta Djakarta (DLTA), controlled by San Miguel, meanwhile, posted net profit of Rp170 billion, an increase of 41.6% from Jan-Sep 2015.

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9-Month Results: Gudang Garam & Indomobil

Posted by | Nov 2, 2016 |

Gudang Garam (GGRM), the second largest cigarette producer, booked net profit of Rp4.59 trillion in the first nine months to September of 2016 (9M/16); it grew by 11.8% from Rp4.1 trillion profit in the corresponding period of 2015. Revenues rose 10.2% to Rp56.2 trillion and operating profit increased 7.6% to Rp7.08 trillion.

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Jakarta’s 2017 Election: Speculations on Jokowi’s Meeting with Prabowo

Posted by | Nov 1, 2016 |

The big news item yesterday was President Joko “Jokowi” Widodo visitng the private residence of his rival in the 2014 presidential election Prabowo Subianto. The meeting is definitely one of the most important political events in light of the Jakarta’s 2017 gubernatorial election, particularly in connection with the big rally against the incumbent Jakarta Governor Basuki “Ahok” Tjahaja Purnama that muslim organizations will hold on November 4, 2016.

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