The House of Representatives (DPR) has on Tuesday (June 28) approved in a plenary session the revised 2016 state budget (APBN-P) and the Tax Amnesty Bill, even though some factions notably delivered their concerns.
Read MorePT Graha Andrasentra Propertindo (GAP) Tbk (JGLE), operator of recreation park and real estate/property developer, will kick of its stock trading this morning at the Indonesia Stock Exchange (IDX). At price of Rp140, the stock will start trading with market capitalization of Rp3.16 trillion.
Read MoreAsian market opened in green this morning as Brexit factor eased. Nymex’s crude oil rose 0.6% to US$48.13 per barrel in Asian trading this morning and gold increased 0.25% to US$1,321.20 per ounce. The composite index of the Indonesia Stock Exchange (IDX) gained 0.95% to close at 4,882 on Tuesday (June 28) with trading value reaching Rp9 trillion, higher than daily average of Rp5.67 trillion. Foreign investors booked net buy of Rp691.1 billion in local stocks, bringing year-to-date net buy to Rp9.56 trillion. The rupiah strengthened to Rp13,256 against the US dollar Tuesday (June 28). Stock market and the rupiah experienced a sharp jump on Tuesday (June 28), as the deliberation on the Tax Amnesty Bill boosted sentiment.
Read MoreThe process of Suspension of Debt Payments (PKPU) against PT Super Eximsari Ltd and its sister company PT Super Makmur continues. The two companies said that they would look for investors to help in injecting capital. But lately, Super Eximsari said that it would instead optimize its production line instead of trying to bring in new investors.
Read MoreOn Monday (June 27) the Ministry of Communications & Informatics submitted the list of the 27 candidates for the leadership of the Indonesian Broadcasting Commission (KPI) to the House of Representatives (DPR) Commission I. And as we’ve mentioned before, some of the candidates considered to be favorites in the race have crystal clear connection to political parties and’/or mainstream media.
Read MoreThough many companies have not set an aggressive target earning and business expansion this year, a few have decided to boost their capital expenditure (capex), with some seeking funds to fund business expansion and increase production capacity.
Read MorePT Visi Asia Media Tbk (VIVA), a member of the Bakrie Group, suffered loss attributable to equity of Rp512 billion in 2015, against profit of Rp144 billion in the previous year. Revenue only declined 7.2% to Rp2.11 trillion but VIVA recorded higher costs and bigger foreign exchange (forex) loss for the year.
Read MoreOil and gas supporting services company PT Apexindo Pratama Duta Tbk (APEX) has just released its financial report for the year ended December 31, 2015 on Monday (June 27). There are some interesting issues deserved continuous watching in the Company, including status of loan facilities from Standard Chartered Bank secured before downfall of commodities in 2013.
Read MoreIntiland Development (DILD) is one of property companies directly affected by controversies surrounding the North Jakarta reclamation project. Unlike Agung Podomoro Land (APLN), whose CEO is named suspect in the alleged bribery scandal, Intiland has rarely been mentioned in the controversy.
Read MoreThe central bank (Bank Indonesia) reported on Monday (June 27) that the rupiah weakened further to Rp13,495 against the US dollar. The rupiah touched Rp13,500 yesterday but rebounded at market close. The Brexit factor remains but people are expecting its effect on sentiments to be short-lived. In the domestic front, the rupiah might be helped by tax amnesty policy which will be discussed in a plenary session today. News on the ratification of the revised 2016 state budget (APBN-P) would also affect the rupiah.
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