The Government spent years and billions of the taxpayers money to handle the aftermath of the Sidoarjo mudflow. But apparently, enough is enough. After a quick meeting held at the Presidential Palace on April 26, 2017, the Government decided to not compensate the companies affected by the mudflow and to settle all remaining compensation payments by this year.
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West Java will hold a gubernatorial election next year (2018). The province is the largest in terms of population, and as such it has strategic value in politics. The race has already begun, and so we may see tension rise this year. This is the political constellation in the province thus far.
Read MorePT Citra Maharlika Nusantara Corpora Tbk (CPGT) (formerly known as Cipaganti) entered their period of Suspension of Debts Payment (PKPU) in November 2016 as a result of lawsuit filed by Armand Yapsunto Muharamsyah and Partners (AYMP) Law Office (formerly known as DNC Advocates). The troubled transportation company have been struggling to pay their debts and initially offered the creditors with the company’s shares. The majority of the Company’s creditors, however, rejected the offer and voted for the Company’s bankruptcy.
Read MoreNickel producer Vale Indonesia (INCO) recorded sales of US$143.9 million in first quarter (Q1) of 2017, 19% lower than sales in Q4 of 2016 but 32% higher than Q1 of last year as the Company delivered 17,524 metric tons (t) of nickel matte. Realized sales price slightly declined in Q1 this year from previous quarter.
Read MoreForeign investors kept buying local stocks on Thursday (Apr 27) as they booked a net buy of Rp461.6 billion, bringing year-to-date net buy to Rp21.89 trillion. The composite index of the Indonesia Stock Exchange (IDX), however, closed down 0.34% at 5,707 yesterday as domestic investors opted to selling stocks. They took profits in stocks after recent market gains.
Read MoreSanyoto Sastrowardoyo, former minister of investment/head of Investment Coordinating Agency (BKPM), has passed away Wednesday (April 26) night at Medistra Hospital, Jakarta.
Read MoreDelta Dunia Makmur (DOID), parent of coal mining contractor BUMA, posted net profit of US$23.75 million in the first quarter of 2017, skyrocketed 675.5% from the corresponding period of 2016. DOID reported sales revenue of US$181.35 million in the period, jumped by 43% from the same period last year, while operating profit tripled to US$44.49 million.
Read MoreState construction firm Wijaya Karya (WIKA) booked net profit of Rp245.07 billion in the first quarter (Q1) of 2017, highest profit for past consecutive years. The Company booked operating sales of Rp3.8 trillion. While state...
Read MoreShares of state-owned toll road developer and operator PT Jasa Marga Tbk (JSMR) gained 3.6% Thursday (Apr 27) as investors responded positively the Company’s performance in the first quarter, when its net profit jumped 34% to Rp547 billion, while sales revenues soared by 72.2% to almost Rp5 trillion.
Read MoreCoordinating Minister for Economy Darmin Nasution claims that the national economy expectedly grew by 5.1% in the first quarter (Q1) of 2017, higher than projection of central bank (Bank Indonesia/BI), supported by the rebound...
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