Update on Banking & Corporations

In terms of asset declarations, the Indonesian Government’s tax amnesty program (which runs until the end of March 2017) has been a success. In terms of asset repatriation from abroad, however, the program has been disappointing. That said, plenty of...

West Java’s 2018 Election: The Big Five

Five names are now considered as potential governor candidates for West Java’s 2018 gubernatorial election. One of them is the popular Mayor of Bandung Ridwan Kamil, who has secured the endorsement of the Nasdem Party, a political party led by media mogul Surya Paloh....

Pertamina CEO

Elia Massa Manik, CEO of PT Perkebunan Nusantara III, holding company for state plantations, will likely be appointed new chief executive officer (CEO) of state oil and gas company Pertamina. Manik, former CEO of Elnusa (ELSA), an oil and gas supporting services...

Fed Rate Hike & Market

As expected the Federal Reserve decided on Wednesday (Mar 15) to raise the target range for its federal funds rate by 25 basis points to 0.75% to 1%. The hike came in line the development on the U.S. economy, which has almost met the Fed target of full employment and...

Bukit Asam (PTBA): FY16 Results & Outlook

Bukit Asam (PTBA), the state-owned coal producer, maintains its position as the most profitable coal producer in Indonesia with higher net profit margin than companies like Adaro Energy (ADRO) and Indo Tambangraya Megah (ITMG). One, however, shall closely monitor...

Kimia Farma (KAEF): FY16 Results & Outlook

State-owned pharmaceutical company PT Kimia Farma Tbk (KAEF) booked net profit of Rp267.4 billion last year, relatively flat compared to 2015 (Rp261 billion). The Company actually posted strong sales revenue growth of 22% to Rp5.8 trillion. Its gross profit also...

Revisiting Indonesian Alumina Industry

Last year was a better year for Indonesian alumina industry, at least in terms of sales revenues. Higher volume and average price of aluminium in international market, especially in the fourth quarter, contributed to the growth. PT Indonesia Chemical Alumina (ICA), a...
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