Krakatau Steel: FY16 Results & Outlook

State-owned steel producer Krakatau Steel (KRAS) suffered loss of US$180.7 million in 2016, narrowed from loss US$326.5 million in 2015, as its operating turned to profit (US$4.39 million), from loss US$183.5 million in 2015. KRAS also reported lower loss from...

West Java 2018 Election: Ridwan Kamil & PDIP

The popular Mayor of Bandung Ridwan Kamil is likely to run in the gubernatorial race of West Java, the largest province in the country in terms of the size of population. Ridwan is reportedly in talks with the ruling party PDIP. This is interesting because Ridwan...

Market Snapshots & Fund Raisings

Domestic investors returned to buying local stocks on Monday (Mar 6). The composite index of the Indonesia Stock Exchange (IDX) gained 0.35% to close at 5,409. Foreign investors meanwhile booked a net sell of Rp63.5 billion, bringing year-to-date net sell to Rp1.63...

Hajj & Umrah Players (1): Maktour Group

Indonesians praised Saudi Arabia’s decision to raise the country’s hajj quota from 168,000 to 221,000 this year, cutting down effectively the waiting time, which now reaches up to 15 years in some regions. Higher quota means business for airline, catering services,...

More Names in LuLu Group’s Tax Case

The trial of tax official Handang Soekarno and the Managing Director of PT EK Prima Ekspor (EKP, a subsidiary of LuLu Group International) Rajesh “Mohan” Rajmohanan Nair continues.  In the hearing held on March 6, 2017, the court summoned several more witnesses to...

Kaligis’ Reconsideration Trial Continues

The senior advocate (and graft convict) Otto Cornelis (OC) Kaligis filed for a Reconsideration (PK) on his involvement in a bribery. The preliminary hearing was held on February 27, 2017 in the Central Jakarta District Court and Kaligis asked the panel of judges to...

HM Sampoerna: FY16 Results & Outlook

PT HM Sampoerna Tbk (HMSP), the largest company on Indonesia Stock Exchange (IDX) by market capitalization, booked net profit of Rp12.76 trillion last year or US$959 million, an increase of 23.1% from 2015. Accordingly, Indonesia operations contributed 13.8% to Philip...

Salim Group & Property Expansion

Pretty much as predicted, Salim Group has continued expansion in property business in Indonesia. Other than projects in the greater Jakarta, including those in Pantai Indah Kapuk in partnership with Agung Sedayu Group, the group embarks major expansion in Bintan...

Those Continue to Invest in Indonesia

Massive infrastructure development has attracted some investors to continue investing in Indonesian property and logistics. TB Simatupang area in South Jakarta, for example, has attracted more foreign investors in commercial property as progress of mass rapid transit...
error: Content is protected !!