Shares of Chandra Asri (TPIA), the largest petrochemical company in Indonesia, inched up 0.5% only this morning despite strong performance reported in the fourth quarter of 2016. Higher average prices of naphtha, key feedstock for an olefin center, might have weighed further rally in the stock.
Read MoreThe process of selecting a new justice of the Constitutional Court (MK) to replace Patrialis Akbar is entering a crucial stage. The committee tasked with the process has just announced the names of the 12 candidates that passed the first selection round. Who are they?
Read MorePresident Joko “Jokowi” Widodo is set to take the oath of 17 new Indonesian ambassadors this afternoon (Mar. 13). Three out of said 17 new ambassadors are politicians from political parties that are members of President Jokowi’s ruling coalition. One is known for being the President’s supporter ever since the 2014 presidential election.
Read MoreIn December 2016 the Government promulgated the Government Regulation (PP) No. 72/2016 (to revise the PP No. 44/2005 on Procedure and Administration of the State Capital Investment in State-Owned Enterprises and Limited Liability Companies). The PP 72/2016 was meant to protect the Government’s plan to establish holding companies for State-Owned Enterprises (BUMN). Last Friday, a community organization represented by former Constitutional Court Justice Mahfud MD decided to challenge the regulation and filed for a Judicial Review at the Supreme Court.
Read MoreDomestic investors opted to selling local stocks on Friday last week (Mar 10) as market sentiment is undermined by expected Fed rate hike this week. The composite index of the Indonesia Stock Exchange (IDX) fell 0.2% to close at 5,390. Foreign investors, however, booked a net buy of Rp9.9 billion on Friday. Year to date, foreign investors booked a net sell of Rp1.13 trillion.
Read MoreThe Central Bank (Bank Indonesia/BI) expects the Federal Reserve to raise its Fed Funds Rate by 25 basis points at the coming Federal Open Market Committee (FOMC) meeting (14-15 March 2017). This move should put some temporary pressure on the Indonesian rupiah (as Indonesia will most likely see capital outflows) and therefore BI sees few to no room for additional monetary easing in Indonesia in the remainder of this year.
Read MoreAfter nearly one year of talks, Lippo Group has finally decided to exit from a casino project in Incheon, South Korea. Lippo Limited and OUE Limited, two entities directly/indirectly controlled by Riady Family/Lippo Group, have announced respectively their decisions late last week.
Read MorePolitics is expensive. To get in, one must spend significant financial capital. The problem is that political financing in Indonesia lacks transparency, and it is thusl a cause for concern. The Country has so far failed to come up with means to avoid scenarios whereby politicians have to resort to corrupt means in order to finance their political venture. The electronic identity card (E-KTP) graft scandal may be a consequence of this failure.
Read MoreIndonesian ice cream market might have been dominated by Unilever Indonesia (UNVR) with its brand Walls and PT Campina Ice Cream Industry with their Campina brand. Retailers Trans Ice (Trans Corp) and Mitra Adiperkasa (MAPI), however, have intensified the competition with Baskin Robbins and Cold Stone Creamery respectively.
Read MoreQuestions surrounding financing of light-rail transit (LRT) projects in Jakarta, greater Jakarta, and Palembang might not be fully addressed by the government. Other public infrastructure projects, including water pipeline, public housing, airports, and toll roads, however, have been progressing relatively well.
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