Poor Q4 Drags Down PGAS, Next?

Shares of oil and gas company PT Perusahaan Gas Negara (PGAS) Tbk eroded 4.15% to Rp2540 Friday (March 17) with over 122 million shares exchanged hands as investors were disappointed with poor results in the fourth quarter of 2016, which forced PGAS to report 24% fall...

Sugar Group v. Salim Group: The Dispute Continues

The Salim Group’s PT Mekar Perkasa attempted to sue Sugar Group’s PT Sweet Indolampung, but their attempt fell apart. Nevertheless, PT Mekar Perkasa refuses to accept defeat. On March 9, 2017, the Company filed two different lawsuits, this time on allegations of tort...

The E-KTP Case, Dynamics in Golkar, and Novanto’s Future

The recent development on the the electronic identity card (E-KTP) graft case is no doubt a political tsunami for the Golkar Party, especially, for its chairman Setya Novanto, whose name is mentioned in the Corruption Eradication Commission (KPK)’s indictment...

Update on the Trial of the E-KTP Graft Suspects

The trial of the two suspects in the electronic identity cards (E-KTP) procurement graft case continues. In the hearing held on March 16, 2017, the prosecutors of the Corruption Eradication Commission (KPK) summoned Diah Anggraini, the former secretary general of the...

Jakarta Election Runoff: Political Constellation (3)

As predicted, Susilo Bambang Yudhoyono (SBY)’s Democratic Party will maintain neutrality in the Jakarta’s gubernatorial race, where the incumbent Basuki “Ahok” Tjahaja Purnama and his running mate Djarot Saiful Hidayat (Ahok-Djarot) is running head-to-head...

Pertamina vs Petronas: Financials

Elia Massa Manik has been confirmed new chief executive officer of state oil and gas company Pertamina yesterday. He will manage a company with liabilities of US$25 billion and total assets of US$47.23 billion, which is almost one-third the size of Petronas (US$136...

Corporate Actions and Results

Intraco Penta (INTA) suffered loss of Rp245.7 billion in 2016, narrowed from Rp315.46 billion in 2015. Revenue increased 13.8% to Rp1.5 trillion from Rp1.32 trillion previously, but cost of revenues also rose 26.8% to Rp1.29 trillion from Rp1.02 trillion. INTA’s...

BI Maintains Rate, Market Rallies

Yesterday (March 17), the Central Bank (Bank Indonesia/BI) decided to maintain its benchmark rate (BI 7 Days Reverse Repo Rate) at 4.75% level. This calmed the market that previously reacted to the Fed rate hike, which is now expected to happen gradually for at least...

Revisiting Kris Wiluan’s KS Energy

KS Energy Limited, a company controlled by Indonesian businessman Kris Wiluan listed on Singapore Exchange (SGX), once had market value of S$1.9 billion. That was ten years ago. Yesterday, the stock declined 1.28% to S$0.08 to make a market value of S$42 million only,...
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