So, Agus Yudhoyono, son of sixth president SBY and candidate of Jakarta governor, was ‘surprised’ to know that Jakarta government owns shares in beer producer PT Delta Djakarta Tbk (DLTA), which is majority owned by San Miguel (the Philippines F&B giant). He was asked about the shares when addressing the issue of alcoholic beverages in the capital city.
Read MoreIndonesia recorded 1.04 million visits by foreign tourists in October 2016, jumped 18.5% year-on-year. This is also the new record monthly visits for the country. For the fourth consecutive month, Indonesia recorded more than 1 million foreign tourists visits. Accordingly, in the first ten months of 2016, number of visits grew 9.54% to 9.4 million.
Read MoreOil and gas producer Energi Mega Persada (ENRG), controlled by Bakrie Family, suffered net loss of US$46.92 million in Jan-Sep 2016 period, expanded by 32% from the corresponding period of 2015, despite significant improvement in gross and operating profit margins. Weaker performance was attributable to penalty charges and more than 100% jump in income tax expenses.
Read MoreThe negotiation between the Government and Google’s Asia-Pacific entity based in Singapore regarding the Company’s back taxes is reportedly closing to the finish line since both parties are said reaching for a win-win solution. The Government demanded the Company to obtain a status as a “BUT”, a permanent business entity. That way, the Government can also impose corporate income tax on the Company. And in order to chase the other companies providing Over-The-Top (OTT) platform, the Government reportedly are drafting several legal grounds.
Read MoreA month have passed after Sujaya Group’s two subsidiaries, i.e., PT Bintang Jaya Proteina Feedmill (Bintang Jaya) and PT Sinka Sinye Agrotama (Sinka Sinye) started their period of Suspension of Debts Payment (PKPU), but the Group is still struggling to find the best way possible to settle the disputes with the creditors. At first, the Group asked for additional capital injection to the Banks, which are also their creditors, but the request received strong rejection. Now, reportedly, the Group is ready to release their valuable assets designed as collaterals for several creditors.
Read MoreHengky Setiawan, CEO of Telesindo (TELE), admitted of a picture about him, Rommy Winata (younger brother of Tommy Winata), and Habibie Rizieq, chairman of Islamic Defenders Front (FPI), leader of anti-Ahok movements. “That’s not him (Tommy Winata)…It’s me, and Rommy Winata, brother of TW,” Hengky said as quoted by beritasatu.com on Monday (Nov 28).
Read MoreWe have repeatedly received information about Mulia Hotel Group, which has operating assets in Jakarta and Bali, in recent months. Most of these rumours were linked to possible ownership change in the group controlled by the family of Djoko Tjandra (a fugitive still?).
Read MoreAsian stocks opened mostly higher Thursday (Dec 1st) morning on OPEC’s oil deal. Mining and energy stocks lifted Australia’s All Ordinaries as BHP Billiton and Rio Tinto gained 4.3% and 2% respectively. Santos Ltd and Woodside Petroleum, both are oil and gas producers, jumped 12.72% and 6.04% respectively in Sydney.
In Hong Kong, PetroChina and CNOOC Ltd, two of the world’s largest producers, gained 5.3% and 6.95%, while KrisEnergy advanced 3.43% in Singapore.
Tradingeconomics.com reported that thermal coal was traded at US$88.5 per ton on Wednesday (Nov 30), dropped significantly by more than 4% from Tuesday. That means the commodity has collapsed almost 23% from its recent peak.
Read MoreShares of four integrated poultry players listed on Indonesia Stock Exchange (IDX) have dropped significantly from their recent peak due to depreciation of rupiah and rally in raw materials, corn and soybeans. Still, this is an interesting industry to watch, given its role in feeding the world’s fourth largest population. In this issue, we discuss Wonokoyo Jaya Corporindo, one of the largest players not listed on IDX.
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