Shares of Gudang Garam (GGRM), a major cigarette producer, ended higher by 2% to Rp31,225 on Wednesday to make a market capitalization of Rp60 trillion, only slightly above its equity (Rp59 trillion). Sarana Menara Nusantara (TOWR), a telecommunication infrastructure company controlled by another cigarette giant Djarum Group, meanwhile, is now worth Rp53.3 trillion, four times equity.To subscribe please click here