SGX-listed QAF Limited, controlled by the family of Andree Halim and his brother of Antony Salim (Salim Group), has decided to expand its businesses in the Philippines. The group intends to expand bread production and distribution in the country. What about plans from Nippon Indosari, producer of the famous Sari Roti brand, to expand in the country?
Read MorePresident Joko “Jokowi” Widodo will have to decide on what to do with export of semi-processed minerals by tomorrow, January 11. The Government is supposedly prepared to allow export of processed minerals for copper—which entails providing an exception to Freeport Indonesia and Amman Mineral Nusa Tenggara (new name of Newmont Nusa Tenggara)—by promulgating a Government Regulation. But to this day, that Government Regulation has not been signed, and there doesn’t seem to be any clarity on what would happen next.
Read MoreThe Corruption Court of the Central Jakarta District Court has sentenced the two advocates responsible for bribing the former Registrar of Central Jakarta District Court Muhammad Santoso. The panel of judges found the advocates guilty and stated that they had intended to bribe two Judges in the Central Jakarta District Court. The case was uncovered after on June 30, 2016 the Corruption Eradication Commission (KPK) conducted a Sting Operation (OTT) and detained one of the registrars of the Central Jakarta District Court Muhammad Santoso. A day later, the KPK named 3 suspects in the case and revealed that Santoso had received bribes from the counsellors of a mining company in return for his assistance in a civil case.
Read MoreMNC Investama (BHIT) purchased back 3.78 billion shares at average price of Rp400 per share, or Rp1.51 trillion in total. The buy back was conducted from July 1, 2016 to Dec. 31 2016. The Company has also raised Rp1.42 trillion through rights issue program, used to pay debt to Smart Empire Group Ltd worth Rp558.04 billion and to fund working capital and investment worth Rp864.04 billion.
Read MoreIn December 2016, President Joko “Jokowi” Widodo promulgated the Government Regulation (PP) No. 60/2016 on the type and rates of the Non-Tax State Revenue in the Indonesian National Police (PP 60), from the title, it’s clear that the PP 60 governs state revenues that are other than taxes. But the press picked up on a particular part of this PP and made it seem as if it is (solely) concerned with the matter taxation for the vehicle registration number (STNK). This then prompter some complaints from those who feel burdened by the rising cost of the so-called STNK tax.
Read MoreToday, Jan. 10, the House of Representatives (DPR) will pass the revision of the Law No. 42/2014 on the Revision of the Legislative Institution Law (MD3) No. 17/2014 into a new law. The revision will guarantee a seat for the ruling party PDIP in the new DPR and the People’s Consultative Assembly (MPR) leadership. It so happens that today PDIP celebrates its 44th anniversary. The celebratory event will be held in the Assembly Hall of the Senayan Convention Center. The Chairwoman of PDIP Megawati Soekarnoputri will deliver her speech. Megawati may announce the name of the lawmakers that will represent PDIP in the MPR/DPR leadership at the event.
Read MoreShareholders meeting of China Shenhua Energy Co Ltd, one of the largest integrated energy companies in the world, on December 23, 2016 approved the provision of guarantee to PT Shenhua Guohua Lion Power Indonesia (Lion Power), paving the way for smooth construction of 2×300 MW mine-mouth power plant in Muara Enim, South Sumatra province.
Read MoreEnergy shares worldwide were the focus of selling on Monday (Jan 9) as oil dropped 3.85% to US$51.86 per barrel on Monday (Jan 9), from US$53.99 in the previous trading session. WTI started this week with a big tumble, on rumors that the Organization of the Petroleum Exporting Countries (OPEC) might not be living up to its pledge from autumn to make significant crude output cuts intended to push prices higher.
Read MoreMalaysian Palm Oil Board is scheduled to release December data for CPO production and stock Tuesday (Jan 10). Our data from some Malaysian planters suggested lower month-on-month output, but mixed on year-on-year performance.
Read MoreGold regained grounds Monday (Jan 9) to US$1,181.75/Oz. The precious metal has retreated significantly from above US$1,360 in July 2016, but didn’t stop some to invest in the sector. Wilton Resources Ltd, a company listed on Singapore Exchange with gold exploration project in Sukabumi Regency, West Java province, for example, has recently raised fresh capital from investors.
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