Shares of AKR Corporindo (AKRA) ended higher by 2% Monday (Mar 6) as investors responded positively the Company’s performance last year. While sales revenues dropped 23%, mostly due to falling revenues from fuel trading and chemicals manufacturing, AKRA booked net profit of Rp1.01 trillion, slipped only 2.2% from 2015.
Read MoreShares of PT Telkom Tbk (TLKM), the largest telecommunication company in Indonesia, opened higher by 1.3% Monday (Mar 6) as investors responded positively the Company’s solid performance last year. Telkom booked net profit of Rp19.35 trillion last year, an increase of 24.9% from 2015, thanks to strong sales revenue growth of 13.6% to Rp116.33 trillion. The current price reflects PE multiple 20 on 2016 earnings.
Read MoreThe Jakarta Election Commission (KPUD) officially announced the runoff stage of the capital city’s gubernatorial race with incumbent pair Jakarta Governor Basuki “Ahok” Tjahaja Purnama and his running mate Djarot Saiful Hidayat (Ahok-Djarot) going head-to-head against Anies Baswedan and his running mate Sandiaga Uno (Anies-Sandi). The announcement was made over the weekend in an event held at the Borobudur Hotel, Jakarta. And tension was already palpable.
Read MoreThe Army Deputy Chief of Staff (Wakasad) Lt. Gen. M. Erwin Syafitri will enter his mandatory retirement age on Apr. 9, 2017. This is yet another chance for President Joko “Jokowi” Widodo to tailor fit the Army’s leadership in order to continue his consolidation of power in the Indonesian Military (TNI). With only four weeks left beforen Erwin Syafitri’s mandatory retirement, one wonders who will get to become the next Wakasad and whether it’ll become a step-stone for him to become the next Army Chief of Staff (KSAD)?
Read MoreOn March 2, 2017, the Attorney General’s Office (AGO) examined Ahmad Bambang, the former vice president director of PT Pertamina (Persero), as a witness in the graft case of PT Pertamina Trans Kontinental (the subsidiary of Pertamina). It was later revealed that the AGO had examined Ahmad in connection to a different case, though it is supposedly still related to Pertamina Trans Kontinental.
Read MoreThe Corruption Eradication Commission (KPK) wrapped up their examination of the two suspects in the electronic identity cards (E-KTP) graft case in the first week of February 2017. By March 1, the dockets of suspects Sugiharto and Irman were transferred to the Corruption Court of the Central Jakarta District Court as one indictment. Both men will thus be tried together. The Corruption Court registered the case on March 3, 2017 and the first hearing has been scheduled for March 9, 2017. It’s interesting that coinciding with the registration of the trial the House of Representatives (DPR). through the Expertise Committee (BK), began to speak once more on the plan to revise several provisions in the KPK Law. Some believe that this move is not just a coincidence.
Read MoreThe Central Bank (Bank Indonesia/BI) expects Indonesia’s economy to grow by 5% in the first quarter (Q1) of this year, the lower bound of 5-5.4% growth target for this year. Agus Martowardojo, BI governor, said that the economic condition during Q1 period remained affected by lower government spending in Q4 of 2016 due to the budget cut policy.
Read MoreMulti Bintang Indonesia (MLBI), the largest beer player in the country, booked net profit of Rp982 billion last year, nearly doubled from 2015 due to normalized retail sales and growing tourism industry. The Company, controlled by Dutch beer company Heineken International BV, enjoyed 21% growth in net sales revenues to Rp3.26 trillion, while gross profit jumped by 32.3% to Rp2.15 trillion.
Read MoreState-owned Enterprises Ministry (SoEs) is aiming to launch the initial public offering (IPO) of nine SoEs this year, including PT Tugu Pratama, subsidiary of state-owned oil and gas firm Pertamina, and Jasa Armada, subsidiary of state-owned port operator Pelindo II.
Read MoreState-owned company Waskita Karya (WSKT) generated Rp218 billion of revenues from toll roads last year, skyrocketed from Rp31.8 billion in 2015 following commercial operation of Section I and II of Pejagan-Pemalang toll road under the trans-Java toll road program. Revenues from toll road will grow further with the Company’s plan to start commercial operation of Section III and IV of Pejagan-Pemalang in June.
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