Lippo Group, Agung Podoromo, Ciputra Group, Bakrie Group are among major business groups in Indonesia expanding into education services. Lippo is known for its Pelita Harapan University, while Bakrie owns Bakrie University. Kompas Gramedia Group is known for its Multimedia Nusantara University (UMN), but Salim Group?
Read MoreXL Axiata (EXCL), the third largest telco operator in Indonesia, reported a net profit of Rp376 billion in 2016 against loss of Rp25 billion in 2015, but revenues and operating profit fell 6.7% and 46.3% respectively. In the fourth quarter, XL Axiata reported a 55.1% drop in net profit, to Rp216 billion, compared to Rp481 billion profit in the corresponding period of 2015. Compared to first three quarters last year, XL Axiata reported an improved profit in fourth quarter but still far away its profit achievement in last quarter of 2015.
Read MoreState owned Bank Rakyat Indonesia (BRI) only reported a 3.2% increase (flat growth) in profit after tax in 2016 and expects a 3-5% growth for this year. Last year, BRI booked profit after tax of Rp26.23 trillion, compared to Rp25.4 trillion in 2015. Earning per share (EPS) was Rp1,071.51. Net interest income rose 16% to Rp67.64 trillion from previous Rp58.58 trillion. Net interest margin (NIM) was 8.27%.
Read MoreThe Constitutional Court recently changed the content and purpose of the articles that supported the principle of the formal offence of corruption in Law No. 20/2001 on Corruption Eradication. The changes were made as a result of the petition for Judicial Review (JR) filed by several civil servants in January 2016. The Constitutional Court read their decision on January 25, 2017 and changed the phrasing in the articles from bearing the principle of formal offence to material offence. How will this affect law enforcement re. corruption?
Read MoreBorn in Karawang, West Java, on April 22, 1947, Lt. Gen. (ret) Kiki Syahnakri graduated from the Military Academy in 1971. Over the course of his military career, Kikis was famous for his role in the operation in Timor-Timur (now Timor Leste). His last military position was the Army deputy chief of staff (Wakasad) for the 2000-2002 period. He’s an interesting figure to talk about given his activity in the country’s political scene. Furthermore, Kiki is widely known as one of those in the inner circle of tycoon Tommy Winata (TW). Kiki’s direct link to TW can be seen in his position as a long-time chairman of Bank Artha Graha (INPC), a bank controlled by TW and his partner Sugianto Kusuma (Aguan).
Read MoreIn May 2016 PT Cal Dive Offshore Indonesia (CDI), a subsidiary of Cal Dive International Inc, filed an application at the South Jakarta District Court for the implementation of the decision of the Indonesian National Arbitration Board (BANI) on the Company’s dispute with PT Bumi Hasta Mukti (BHM) and PT Pertamina (Persero). The effort seemed fruitless because now, 7 months later, Cal Dive Indonesia decides to file a lawsuit on Suspension of Debts Payment (PKPU) against BHM’s subsidiary PT Pertalahan Arnebatara Natuna (PAN) at the Commercial Court in the Central Jakarta District Court.
Read MoreForeign investors opted to sell local stocks on Tuesday (Jan 31) and they booked net sell of Rp405.8 billion, bringing year-to-date net sell to Rp966.8 billion. The composite index of the Indonesia Stock Exchange (IDX) fell 0.16% to close at 5,294 yesterday. The extended falls experienced by global markets sparked the selling in local stocks. The rupiah also weakened to Rp13,343 against the U.S. dollar on Tuesday.
Read MoreThe government is preparing economic policy package to reduce economic disparity, coordinating minister for the economy Darmin Nasution, said Tuesday (Jan 31) after a limited cabinet meeting led by President Joko ‘Jokowi’ Widodo at Bogor Palace, West Java. One of the policies will likely be an agrarian reform in farming and plantation sector. Details will be released in the coming future pending operational measures from various ministries and government agencies.
Read MoreBakrie-related stocks dominated Tuesday’s trading. Six stocks were traded heavily, two of which gained 11.3% and 5.3% respectively. One of them lost 4.5%, while others moved in narrow range. Domestic investors dominated the trading. Overall, volatility remains high.
Read MoreAneka Tambang (ANTM) recorded sales revenue of Rp9.11 trillion (unaudited) last year, down 13.6% from 2015 despite higher production volume of nickel ores, ferronickel, bauxite, and alumina. Going forward, other than impacts of recent government policies allowing export of low-grade nickel and bauxite, dynamics in the alumina, coal, gold-silver would define ANTM’s short-term outlook.
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