Author: yosefardi.com

First Half Results: Waskita & Baturaja

State-owned EPC and toll road firm PT Waskita Karya (WSKT) Tbk is among the best performing stocks year-to-date with almost 68% gain. Traded with PE multiple 28 on its annualised first half 2016 results, Waskita gained almost 2,000 percent from its all-time low.

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Garuda Metalindo H1 Results: Gain on Spare Parts

Newly listed PT Garuda Metalindo Tbk (BOLT) reported a 47% growth in net profit in first half (H1) of 2016 period, to Rp72 billion compared to Rp549 billion in the corresponding period of 2015. Revenue only rose 6.5% to Rp445 billion from Rp418 billion previously, while operating profit increased 5.8% to Rp91 billion from Rp86 billion a year earlier.

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The Return of Minister of Finance Sri Mulyani Indrawati

President Joko “Jokowi” Widodo managed to win the confidence of Sri Mulyani Indrawati, the former Minister of Finance and Coordinating Minister for the Economy under Jokowi’s predecessor Susilo Bambang Yudhoyono (SBY) administration, to again serve her country. Sri Mulyani will make her return as Minister of Finance to replace Bambang Brodjonegoro.

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The New Minister of Industry Airlangga Hartarto

Industry ministry is a very important portfolio in the context of Indonesia’s search for new growth engine amidst weakness of commodities. For almost two decades after the downfall of Soeharto, unfortunately, the country’s manufacturing industry has been leapfrogged by Vietnam. Accordingly, appointment of Airlangga Hartarto as new minister is interesting to watch.

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The New Minister of Trade Enggartiasto Lukita

Trade ministry is one of hot seats in the cabinet. The sector is so sensitive that we have three names in the position in less than two years of Jokowi-Kalla administration. The first was Rachmat Gobel (9 months), while the second was Thomas Lembong (almost one year). Let’s see how long Enggartiasto Lukita will survive in the ministry dealing with politically sensitive items like rice, sugar, meat, cooking oil, salt, and chili.

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First Half Results: Telkom

Telekomunikasi Indonesia (TLKM), the largest telecommunication carrier in Indonesia, booked net profit of Rp9.93 trillion in the first half of 2016, jumped by 33.3% from the corresponding period of 2015, thanks to improved operating margins.

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Cabinet Reshuffle: Running Comments

Today is a big day in politics. The President is set to announce a new cabinet line-up. And the Governor of Jakarta Basuki “Ahok” Tjahaja Purnama is reportedly ready to announce the political vehicle he will use for Jakarta’s 2017 gubernatorial election. But in this piece, we’ll focus on President Joko “Jokowi” Widodo’s new cabinet. We’ll keep this as a running commentary section. Comments are published with time stamps, corresponding with the latest development on the issue.

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