Shares of PT Timah Tbk (TINS), one of the world’s largest tin producers, ended higher by 3.13% to Rp990 Tuesday (Feb 28) as investors better performance of the Company this year. Stronger results in the fourth quarter lifted Timah’s net profit by almost 150% to Rp251.83 billion last year. Outlook?
Read MoreThe benchmark May 2017 contracts of crude palm oil (CPO) opened lower by RM9 to RM2745 per ton on the Bursa Malaysia Derivatives this morning. The commodity has lost more than 15% from its recent peak due to projected higher production in Malaysia and Indonesia this year. Contracts beyond June 2017 were now traded below RM2700 per ton.
Read MorePT Niman Internusa’s Suspension of Debts Payment (PKPU) lawsuit against their debtor PT Humpuss Pengolahan Minyak (HPM), a subsidiary of PT Humpuss belonging to Hutomo Mandala Putra, was granted by the Panel of Judges of the Commercial Court at the Central Jakarta District Court on February 27, 2017. With this decision, HPM must enter their period of temporary PKPU for the next 45 days.
Read MoreBack in Feb. 5, 2017, Lt. Gen. (ret) Prabowo Subianto, the chairman of Gerindra Party, told his supporters to work hard on helping Anies Baswedan and Sandiaga Uno win Jakarta’s 2017 gubernatorial race, especially if they want him to become the President of the Republic in 2019. This statement confirmed that Prabowo still had the ambition to enter the presidential race. Since then, he has been seen attending events for Anies-Sandi in a move to collect support. Then again, one wonders whether a victory for Anies-Sandi will indeed be helpful for Prabowo in 2019.
Read MoreLt. Gen. (ret) Prabowo Subianto, the chairman of the Gerindra Party, has been seen in a number of recent political events with the intention of helping the pair his Party endorses in the Jakarta gubernatorial race: Anies Baswedan and Sandiaga Uno. The most recent rumor is that Prabowo will meet with the former President Susilo Bambang Yudhoyono (SBY), who is also the chairman of the Democratic Party.
Read MoreThe Financial Services Authority (OJK) predicts that the banks’ lending would grow by 8.5% in the first quarter of this year, and later to double-digit in the second quarter. The growth of non-performing loan (NPL) in the previous quarter had prompted the banking industry to adjust in the first quarter of 2017.
Read MoreFive months have passed since the Supreme Court decided to decline the Cassation filed by Otto Cornelis (OC) Kaligis, the senior lawyer who’s found guilty of bribing three judges and a registrar of the Medan State Administrative Court (PTUN Medan). Kaligis filed for a Reconsideration (PK) then after, and on February 27, 2017, the Central Jakarta District Court held the preliminary hearing for Kaligis’ petition for PK.
Read MoreMinister of energy and mineral resources Ignasius Jonan met leaders of Papua in Jakarta Monday (Feb 27) to discuss various issues surrounding PT Freeport Indonesia. Mimika Regent Eltinus Omaleng revealed that Jonan promised portion of shares in PT Freeport Indonesia to local government and community in Papua.
Read MoreForeign investors continued selling local stocks on Monday (Feb 27) following global and regional markets sentiment. Global investors are now waiting for U.S. president Donald Trump’s policy speech for the Congress. At home, the composite index of the Indonesia Stock Exchange (IDX) ended lower 0.06% to 5,383 on Monday, but closed off its low of 5,368. Domestic investors helped the market with buying option, while foreign investors booked net sell of Rp199 billion yesterday, bringing year-to-date net sell to Rp1.89 trillion. The rupiah slightly weakened to Rp13,339 against the U.S. dollar on Monday.
Read MoreIndomobil (IMAS), controlled by Salim Group, used to be the second largest automotive player in Indonesia behind Astra International (ASII). In recent years, however, Indomobil lost ground to other groups, including Honda and Mitsubishi-Nissan. Last year, the Company’s sales revenue dropped 16.6%, while net losses expanded 547% to Rp296 billion.
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