Shares of Chandra Asri Petrochemical (TPIA) have gained 12.8% year to-date. At the current price (Rp23,300), the largest petrochemical company in the country is valued Rp76.6 trillion (US$5.7 billion) or 5.3 x its equity as at September 30, 2016. Time for correction?
Read MoreTrading in the stock market is expected to flat ahead of the election of the Jakarta City Governor on Wednesday (Feb 15). The market sentiment would be hit by concern over chaos following the result of votes. On Friday last week (Feb 10), the composite index of the Indonesia Stock Exchange (IDX) closed down 0.01% at 5,371, as late selling turning the index into negative territory. During the day trading on Friday, the index moved in green zone, gaining 0.52% in afternoon trade. Foreign investors booked net sell of Rp430.1 billion, and the rupiah weakened to Rp13,318 against the U.S. dollar.
Read MoreIn the past few days, nine pollsters have released their result of their polls on the electability of the three gubernatorial pairs competing in Jakarta’s gubernatorial election. The majority of said pollsters predicted that Susilo Bambang Yudhoyono (SBY)’s son Agus Harimurti and his running mate Sylviana Murni will be eliminated from the race, with the incumbent pair Basuki “Ahok” Tjahaja Purnama and Djarot Saiful Hidayat going head-to-head against Anies Baswedan and running mate Sandiaga Uno in the second round. Two pollsters are optimistic that Agus-Sylvi will not be eliminated in the first round. Here are the results of the polling conducted by the nine pollsters:
Read MoreShares of Delta Djakarta, beer producer, dropped 27% since early September 2016, trading at Rp4,350 on Friday last week (Feb 10) with the trading volume intensifying along with the Jakarta gubernatorial race. Investors opted to selling DLTA shares as two pairs of candidates in the Jakarta race have expressed their intention to divest the city administration’s 23.4% shares in Delta Djakarta.
Read MoreLast Friday (Feb 10), TDM Berhad, a plantation firm listed on KL Stock Exchange, released two important announcements related to lawsuits filed by Indonesian Suryati and Malaysian firm Modipalm Engineering Sdn Bhd. What’s going on?
Read MoreToday (Feb. 13), the Police is set to examine Habib Rizieq and Bachtiar Nasir, the leaders of hardline Muslim groups Islamic Defenders Front (FPI) and the so-called National Movement to Safeguard the Indonesia Ulema Council’s Fatwa (GNPF-MUI). Both men will be examined in separately; Rizieq in the West Java Police Headquarters, and Nasir in the Jakarta Metro Police Headquarters.
Read MoreThe Corruption Eradication Commission (KPK) is sticking with their promise to continue investigating the allegations of graft in the procurement of electronic identity cards (E-KTP) in the period of 2011-2012. A few weeks ago the KPK said that they had confiscated a sum of Rp250 billion that is believed to be proceeds of crime related to the case. The KPK also examined PDI-P politician Olly Dondokambey. Last week, the KPK confiscated money were collected from several members of the House of Representatives and corporations, who opted to return the graft money they received. But unfortunately the KPK did not name the parties from whom the money was confiscated.
Read MoreThe Attorney General’s Office (AGO) is making progress in their investigation into the allegations of graft involving the subsidiaries of PT Pertamina (Persero). In the case involving PT Pertamina Patra Niaga (Patra Niaga), the AGO has finally named 4 suspects. And in the case involving PT Pertamina Trans Kontinental, the AGO has explained the details of the case.
Read MoreGold retreated by 0.28% to US$1,229 per ounce this morning in Asian trading, but the precious metal has gained 2.24% this month. Compared to silver and industrial metals, gold has performed poorly with 1.8% gain year-on-year. Still, actions from some companies suggesting strong confidence in the future of gold.
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