Wexler Capital vs Bumi Resources Minerals

South Jakarta District Court has on Wednesday (March 13) started the trial of a tort lawsuit filed by Wexler Capital Pte Ltd against PT Bumi Resources Minerals (BRMS) Tbk, a company indirectly controlled by Bakrie Group. Wexler, a creditor, seeks a court ruling to...

Bakrie Telecom & Huawei

So, Bakrie Telecom (BTEL) has on March 1st, 2017 issued 6.19 billion new shares at Rp200 per share to PT Huawei Tech Indonesia. The Shenzhen-based telecommunication giant, accordingly, controls 16.83% shares of BTEL. This is part of debt restructuring program of...

Sritex (SRIL): FY16 Results & Outlook

Shares of textile and garment producer PT Sri Rejeki Isman Tbk (SRIL), popular as Sritex, ended lower by 2.91% to Rp334 Tuesday (March 14) with 1.07 billion shares exchanged hands. SRIL is among the best performing stocks with 45% gain year-to-date, so some might have...

Sandiaga Uno and Allegation of Embezzlement

Yesterday (March 13) news spread that businessman Edward Soeryadjaya had reported Sandiaga Uno, the Jakarta Vice Governor candidate, to the police on account of embezzlement. What happened exactly? Several major media outlets reported that Sandiaga Uno and Andreas...

Corruption in Bakamla : The Trials

It has been only three months since the Corruption Eradication Commission (KPK) cracked down on the bribery in the Maritime Security Agency (Bakamla) but the trials of the suspects have begun. On March 9, 2017, the Corruption Court of the Central Jakarta District...

Jakarta Election Runoff: Political Constellation (Part 2)

PKB and tge Democratic Party have not yet announced their decision on who the endorse in the runoff stage of Jakarta’s gubernatorial election. Jakarta Governor Basuki “Ahok” Tjahaja Purnama and his running mate Djarot Saiful Hidayat (Ahok-Djarot) are still...

Jakarta Election Runoff: Political Constellation

The National Mandate Party (PAN), led by the speaker of the People’s Consultative Assembly (MPR) Zulkifli Hasan, decided to endorse Anies Baswedan and his running mate Sandiaga Uno (Anies-Sandi). Djan Faridz’s United Development Party (PPP), meanwhile, continues...

Market Snapshots & Corporate Actions

Foreign investors bought local stocks on Monday (March 13) as they booked a net buy of Rp406.8 billion yesterday, cutting their year-to-date net sell to Rp727 billion. Trade, however, was relatively light, only valuing at Rp5.43 trillion, lower than its daily average...

BCA: FY16 Results & Outlook

While most banks only reported a flat growth and some posted lower growth, PT Bank Central Asia (BCA) Tbk (BBCA) experienced a 14.4% increase in profit after tax, to Rp20.6 trillion in 2016, from Rp18 trillion in 2015. The Bank also reported a 12% growth in net...
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