Author: yosefardi.com

China Economy Grows 1.5% QoQ in Q3

The Chinese economy expanded by a seasonally adjusted 1.5% on quarter in the three months to September 2019, following a 1.6% growth in the previous period. It advanced 6.0% year-on-year in the September quarter of 2019, slowing...

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KPK’s Latest Sting Operation: North Sumatera

Along with the sting operation in East Kalimantan, the Corruption Eradication Commission (KPK) also apparently conducted a sting operation in North Sumatera. In the same press conference held on October 16, 2019, the KPK named several suspects, including the Mayor of Medan. The Mayor is the third regional leader of North Sumatera arrested in a sting operation in the past two years. What outrageous is that we can barely count how many regional leaders from all levels in North Sumatera who have to deal with the KPK. We wonder if the KPK not scary enough, that’s why this case keeps repeating in North Sumatera.

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Corporations to Watch

Ceramic and tile producer Arwana Citramulia (ARNA) booked a net profit of Rp160.14 billion in the first nine months to September (9M) of 2019, grew 38.1% from Rp115.94 billion in the corresponding period of 2018. Net sales rose 11.6% to Rp1.63 trillion from the previous Rp1.46 trillion.

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Market Snapshots

Global markets may get support from a deal on the long-awaited Brexit deal, on Britain’s departure agreed with the European Union. The Brexit deal sent sterling to a five-month high on Thursday and hoisted European stocks to a 1-1/2-year peak before doubts about U.K. parliamentary support brought them back to earth, Reuters reported.

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M&A Updates

Metro Pacific Investment Corp (MPIC), controlled by Salim Group, divested its shares in Philippine-based hospital operator Metro Pacific Hospital Holdings Inc (MPH), to KKR & Co and Government of Singapore Investment Corp (GIC) for US$680 million value, equivalent 35.3 billion pesos.

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Ma’ruf Amin & the New Cabinet

The Vice President-Elect KH Ma’ruf Amin has not said much on matters concerning the new cabinet. He’s been so quiet that some are wondering what his role could be in the formation of the cabinet, and what role he will play in President Joko “Jokowi” Widodo’s second term.

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Riau Islands Gubernatorial Election

The position of governor of the resource-rich Riau Islands province is one of the hottest positions in the region. In the past three years, three different figures from three different political parties have occupied the position. The most recent is PDIP politician Isdianto who serves as the acting governor. Next year, however, the province will hold a gubernatorial election. Who will be the next governor of Riau Islands?

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