Day: March 25, 2017

Different Tales of Matahari (LPPF vs MPPA)

Matahari Department Stores (LPPF) booked net profit of Rp2.02 trillion last year, an increase of 13.4% from 2016. Matahari Putra Prima (MPPA), on the other hand, reported net profit of Rp7 billion only, crashed 83% from 2015. MPPA’s sales revenue slipped 2% to Rp13.5 trillion last year, while LPPF posted 9.9% growth to Rp9.9 trillion.

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Bakrie, Mitsubishi & Glencore

PT Bakrie & Brothers (BNBR) Tbk, an investment company controlled by Bakrie Family, booked net loss of Rp3.6 trillion last year, doubled from 2015, and, accordingly, widened its capital deficiency to Rp6.05 trillion. Because liabilities down only slightly to Rp12.6 trillion, BNBR’s total assets eroded further to Rp6.6 trillion, half the size two years earlier.

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