State electricity firm Perusahaan Listrik Negara (PLN), will soon acquire coal mining concessions in order to safeguard its future coal supplies and have a stronger position when negotiating coal prices with traders. PLN’s...
Read MoreThe province of South Sulawesi may see four gubernatorial candidates in their election next year. The latest poll figures show that the competition might be very tough. Who are they? Do they have enough charm to attract political party endorsements?
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The House of Representatives (DPR)’ Special Committee on the deliberation of the Election Bill still has five remaining crucial issues to discuss with the Government. Decision on the passage of the Bill has been delayed yet again to next Monday (June 19). After hours of lobbying that went into late Wednesday evening, the meeting formulated six package of options to be discussed later in the June 19 meeting.
Read MoreShares of general insurer PT Asuransi Bina Dana Arta Tbk (ABDA) dropped 12.41% to Rp6000 on Wednesday (June 14) following report that MAPFRE had purchased additional 31% stake in ABDA, giving it 51% control. The transaction was closed at a price of 90 million euros, equivalent Rp1.34 trillion, made though crossing market at the Indonesia Stock Exchange (IDX) on Monday (June 12).
Read MoreThe composite index of the Indonesia Stock Exchange (IDX) gained 1.49% to close at 5,793 on Wednesday (June 14); a new record high. The index earlier peaked at 5,792 (May 14, 2017). Domestic investors dominated the buying in local stocks yesterday, while foreign investors booked net sell of Rp207.3 billion on Wednesday, cutting year-to-date net buy to Rp19.8 trillion. The rupiah also strengthened to Rp13,286 against the U.S. dollar yesterday.
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State-owned oil and gas company Pertamina has yet to formally responding the government’s offer for operation of eight oil and gas blocks, whose contracts will expire soon. The Company, however, sent out strong signal to develop the blocks without necessarily engaging third-party investors.
Read MoreMedia billing and ICT retailer PT Skybeen Tbk (SKYB), controlled by the same shareholder of the troubled Trikomsel Oke (TRIO), booked zero sales revenue in the first quarter of 2017. So, no improvement from the corresponding period of 2016. The Company’s total asset was only Rp34.8 billion, crashed from Rp851 billion in December 2011.
Read MoreMAPFRE has gained effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA), after obtaining the relevant authorization from the regulatory authorities for the purchase of an additional 31% stake in...
Read MoreCommodities eased in May on weakening fundamentals across most sectors, according to Credit Suisse Asset Management. Energy decreased 3.28%, led lower by Natural Gas, as milder-than-normal weather forecasts for the first half of...
Read MoreGold producer J Resources Asia Pasifik (PSAB), through its unit PT J Resources Nusantara (JRN), issued medium term notes (MTN) worth Rp500 billion, carrying annual coupon rate at 11.05% and tenor of 36 months. JRN has assets of...
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