In October 2016, the Supreme Court read their decision on the trial of the Mayor of Makassar Ilham Arief Sirajudin and the former Minister of Energy and Mineral Resources Jero Wacik. What is interesting is that the Supreme Court decided to reduce the punishment of Ilham but aggravated the punishment of Jero Wacik.
Read MoreRetailers reported weaker year-on-year sales in third quarter due to seasonal shift of Lebaran from third to second quarter. Overall, however, Matahari Putra Prima (MPPA) reported net profit margin of 0.3% only, crashed from 2.5% in Jan-Sep 2016, while Alfamart (AMRT) enjoyed higher margins of 0.87%.
Read MorePT Bhineka Karya Manunggal (BKM), a subsidiary of Guna Group, is officially bankrupt. The decision was taken after their only separatist creditor in the process of Suspension of Debts Payment (PKPU). PT Bank Negara Indonesia (Persero) Tbk (BBNI), declined BKM’s time extension request after only three months of negotiation for peace. The Panel of Judges at the Commercial Court in Central Jakarta District Court therefore decided to declare BKM bankrupt with all the legal consequences.
Read MoreState miner Aneka Tambang (ANTM), or Antam, recorded significant increase of profitability in the first nine months of 2016 (9m/16) with a Rp38.3 billion of profit attributable to owner of parent, thanks to improved production and sales performance, continued efficiency effort, and higher nickel sales to domestic smelter.
Read MoreGeneral (ret.) Wiranto is the new Chairman of the Indonesian Badminton Association (PBSI). Wiranto won the chairmanship congress last night (Oct. 31) in Surabaya, East Java. The Coordinating Minister for Politics, Law, Security Affairs, who is also the Chairman of Hanura Party, became the new PBSI Chairman following the withdrawal of Gita Wirjawan from the race. What we can learn from Wiranto’s victory?
Read MoreAstra booked net profit of Rp13.23 trillion in the first nine months to September of 2016 (9M/16); it declined 9.4% from Rp14.61 trillion in the corresponding period of 2015. Net revenues fell 4.3% to Rp132 trillion. The Company’s finance costs also rose 34.6% to Rp1.3 trillion and recorded foreign exchange (forex) loss of Rp361 billion.
Read MoreShares of PT Perusahaan Gas Negara (PGAS) Tbk have steadily declined in the past two years. As of today, PGAS is valued only Rp62.06 trillion or 1.5 x equity, eroded significantly due to falling oil and gas prices, while it acquired upstream oil and gas assets at the peak of oil prices.
Read MoreAdaro Energy (ADRO) and Indika Energy (INDY) have gained 263% and 524% from their respective bottom as investors anticipate improvements starting third quarter of 2016. While Indika Energy remained in negative territory, Adaro enjoyed net profit of US$209.1 million in Jan-Sep 2016, an increase of 10.6% from the corresponding period of 2015.
Read MoreMNC Sky Vision (MSKY) is still the largest player in pay TV business here. Competition, however, intensified from Telkom Group, Lippo Group, Emtek Group, and Sinarmas Group. In the first nine months of 2016, MSKY reported 2.4% decline in sales revenues, while other players reported strong growth.
Read MoreMedia Nusantara Citra (MNCN), parent of TV stations RCTI and MNC TV, is now valued around Rp30 trillion (US$2.3 billion), gained 13.2% year-to-date, while Surya Citra Media (SCMA), parent of TV stations SCTV and Indosiar, is valued almost Rp39 trillion (US$3 billion). Visi Media Asia (VIVA), parent of ANTV and TVOne, is worth Rp4.18 trillion (US$320 million) only even though it posted substantially higher sales revenue growth in third quarter and first nine months of 2016.
Read More