MNC Kapital Indonesia (BCAP) plans to boost its total issued and paid-up capital to Rp40.66 trillion through issuing 406.62 million new shares under preemptive rights scheme. After this transaction, the public investors’ ownership in BCAP shares will increase to 20.74% from current 14.85%. While ownership of BCAP, UOB Kay Hian (Hong Kong) Ltd and HT Capital Investment Ltd will decline to 64.03%, 8.6%, and 6.63% respectively.
Read MoreDahlan Iskan was found guilty of corruption by abusing his power in the release of assets of PT Panca Wira Usaha, a company owned by the East Java Provincial Government. The Corruption Court of the Surabaya District Court punished Dahlan to 2 years of city arrest, but Dahlan immediately filed for an appeal.
Read MoreThermal coal has been stabilizing above US$80 per ton since early October 2016. While volatility is anticipated due to policy changes in China, some continued to acquire coal assets in Indonesia. The most recent is acquisition of 14.74% shares in a coal mine in Kalimantan by South Korean energy company.
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The Corruption Eradication Commission (KPK) revisited their investigation into the embezzlement of Bank of Indonesia Liquidity Assistance (BLBI) fund, the 320 trillion bailout that the Soeharto administration issued in 1997. This time, the KPK decided to examine Kwik Kian Gie (former PDIP politician and former coordinating minister for economy under Megawati Soekarnoputri). From what we’ve learned of the investigation, we gathered that the KPK seems to only focus on the Fifth President and PDIP chairwoman Megawati Soekarnoputri and government officers under her administration (2001-2004), instead of digging deeper into the very beginning of the formulation of the bailout policy in order to find the real bandits.
Read MoreTrading in the Indonesian stock market will resume today after a long weekend. The Market is expected to make gain following the global markets. Reuters reported that global equity markets rallied on Monday (Apr 24) as the first round of an election in France went to the market’s preferred contender. Wall street also surged on Monday after the French Election results, and as President Trump’s advisors will begin to discuss the administration’s tax plan with Republican Congress leaders.
Read MoreBank MNC Internasional, controlled by businessman and politician Hary Tanoesoedibjo, booked net loss of Rp48.8 billion in the first quarter of 2017 against profit of Rp5.27 billion in the corresponding period last year. The bank’s net interest income grew significantly by 27% to Rp100.3 billion, but other operating expenses skyrocketed to Rp165.4 billion.
Read MoreState oil and gas company PT Perusahaan Gas Negara Tbk (PGAS) booked net profit of US$96.83 million in the first quarter of 2017, down slightly by 3.8% from the corresponding period of 2016. The company reported sales revenue of US$746 million in the quarter, inched up 3.6% from the same period last year.
Read MoreCharoen Pokphand Indonesia (CPIN) is the largest integrated poultry player in Indonesia with sales revenue of Rp38.3 trillion last year, an increase of 27.9% from 2015. This Company booked net profit of Rp2.22 trillion, grew by 20.9% from 2015. At the current price, CPIN has market capitalization of Rp54.1 trillion or US$4.07 billion.
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Anies Baswedan and Sandiaga Uno, winner of Jakarta election, plan to start their term in October 2017 with divestment of the city administration’s shares in beer producer PT Delta Djakarta Tbk (DLTA). This clearly an opportunity to those have long targeted ownership in Delta Djakarta, a very profitable company with net profit of Rp254 billion last year, jumped by 33.2% from 2015.
Read MoreNot all smooth, of course. Toll road projects in big cities like Jakarta and Bandung continued to confront the classic land acquisition issues. Commercial operation of Bekasi-Cawang-Kampung Melayu (21 KM) toll road in the greater Jakarta area, for example, is behind initial schedule set by President Jokowi (March 2017). The first section (8KM), however, should be ready for commercial operation in the coming weeks after 22 years of delay.
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