Golden Agri-Resources (GAR) Ltd has acquired PT Palmindo Billiton Berjaya for a total consideration of Rp135.34 billion, equivalent US$9.47 million. Palmindo Billiton Berjaya engages in oil palm cultivation and palm oil producer, located in Sumatera.
Read MoreOne Million Homes program, a multi-year program to provide proper homes for low-income families, was launched by President Jokowi last year. The actual homes built under the program might still way below target, but it is significantly better than similar program launched by the previous administrations. We are not going to discuss the progress of the program hwere. We are interested in the impact of the program for paint/coating, which is one of construction materials benefited from the program.
Read MoreRecently, the Corruption Eradication Commission (KPK) caught the incumbent Mayor of Cimahi Atty Suharti Tochija and her husband red handed transacting in bribe. Atty is currently seeking her second term with the endorsement of PKS, Golkar, and Nasdem. In the meantime, the Police named celebrity Ahmad Dhani, a vice regent candidate for the Regency of Bekasi from a coalition of PKS, Gerindra, and Democratic Party, as suspect for allegedly insulting President Joko “Jokowi” Widodo.
Read MoreThe Corruption Eradication Commission (KPK) have been investigating allegations of corruption in PT Berdikari (Persero) related to the procurement of urea fertilizer since February 2016. Four suspects have been named, including Siti Marwa, the former vice president of the State-Owned Enterprise (BUMN). Trials of the suspects began in August 2016. On December 5, 2016, the Corruption Court at the Central Jakarta District Court will read the verdict for Siti Marwa.
Read MorePT Mandala Airlines, which was later known by the name Tigerair Mandala, was declared bankrupt on February 9, 2015. The Airline’s insolvency process, however, was halted because of a feud that happened between its shareholders, board of directors, and board of commissioners. The situation was made worse with the fact that the team of curators was not able to find assets that could help the Airline pay its debts.
Read MoreThe ruling party PDIP urged the House of Representatives (DPR) to elect a new leadership following the return of Setya Novanto, the chairman of Golkar Party, as speaker of the House. Can the DPR fulfil this request? What kind of change do the PDIP expect? What are the possibilities?
Read MoreList of politicians caught in bribery and corruption case has expanded faster this year. The Corruption Eradication Commission (KPK) has just named Nganjuk Regent Taufiqurrahman, a politician from PDI-P, and Charles J Mesang, former lawmaker from Golkar Party, suspects in separate corruption cases. Earlier, KPK named Bambang Irianto, mayor of Madiun, who is also politician from Democratic Party, a suspect in different case.
Read MoreForeign investors intensified again the selling in local stocks on Monday (Dec 5) with their net sell reaching Rp782.8 billion, cutting year to date net buy to Rp18.57 trillion. During last week, foreign investors booked net sell of Rp3.21 trillion. Foreign investors opted to sell local stocks Monday following global sentiment after plagued by the outcome of Italy’s referendum on Sunday (and Italian Prime Minister Matteo Renzi announcing his resignation).
Read MoreThe benchmark February 2017 contracts of crude palm oil (CPO) advanced RM61 to RM3137 per ton on the Bursa Malaysia Derivatives Monday (Dec 5) to tracking soybean oil. Weak harvest of FFBs and CPO production in November might have also contributed to the rally.
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