Entrepose, subsidiary of VINCI—a global player in concessions and construction, has completed the acquisition of PT Istana Karang Laut, which engaged in both onshore and offshore activities. SGX-listed Universal Resource and Services Limited, meanwhile, is expected to complete acquisition of Menduwai Block.
Read MoreOffshore oil and gas supporting services company PT Wintermar Offshore Marine Tbk (WINS) booked net loss of US$0.41 million in the first quarter of 2015 against profit of US$11.44 million in the same period of 2014. Apexindo Pratama (APEX), one of contractors for the giant offshore Mahakam Block, also reported net loss in the period.
Read More
PT Barito Pacific Tbk (BRPT), an investment holding controlled by Prajogo Pangestu’s Magna Resources Corporation Pte Ltd (MRC) has on April 30, 2015 settled US$146.2 million loan from MRC with 10.33% shares in petrochemical giant PT Chandra Asri Petrochemical (TPIA) Tbk. What’s next?
Read MoreThe composite index of the Indonesia Stock Exchange (IDX) gained 1.08% to close at 5141 on Monday (May 4) but off its high as profit taking hit certain stocks. Investors collected back local stocks after the index lost 6.42% last week.
Read More
Pretty much as predicted Sinarmas Group steps up challenge in Pay TV and Internet network industry dominated by MNC Group and Lippo Group. The group’s subsidiary has just secured US$150 million loan to develop fibre-to-the-home (FTTH) project.
Read MoreGovernment’s policy prohibiting sales of alcoholic beverages in convenience stores throughout the country might have contributed to significant drop of beer sales at two largest producers: Multi Bintang Indonesia (MLBI) and Delta Djakarta (DLTA) in the first quarter of 2015.
Read MoreThe General Election Commission (KPU) has issued a new regulation that allows for the participation of the Golkar Party and the United Development Party (PPP) in this year’s simultaneous regional elections. The question is, which one of the two warring factions in Golkar and PPP is the one qualified for advancing their candidates in the elections?
Read MoreApproximately 150,000 workers from the greater Jakarta—Jakarta, Bogor, Depok, Tangerang and Bekasi—joined the May Day celebration rally in Jakarta on Friday last week. Those who attended are affiliated with the Confederation of Indonesian Workers Union (KSPI), the Confederation of All Indonesian Workers Unions (KSPSI), the Confederation of Indonesian Prosperity Labour Union (KSBSI), and the Preparatory Committee of All Indonesian United Workers Confederation (KP-KPBI). The workers expressed what they refer to as 10 basic demands:
Read MoreShares of Waskita Karya (WSKT) fell sharply by 7% Monday (May 4th) morning. Fellow state-owned construction firms, Adhi Karya, Pembangunan Perumahan, and Wijaya Karya, also opened lower to respond their first quarter performance. These stocks, however, need a healthy correction after a long rally.
Read MoreIntegrated poultry players Charoen Pokphand Indonesia (CPIN), Japfa Comfeed (JPFA), and Malindo Feedmill (MAIN) suffered from squeezed margins and non-cash loss on foreign exchange translation in the first quarter of 2015. Shrimp producer PT CP Prima (CPRO) Tbk and fisheries player PT Dharma Samudera Fishing (DSFI) TBk, however, reported stronger top lines in the period.
Read More