Shares of Indo Tambangraya Megah (ITMG) surged 6.57% Monday (May 11) on speculative buy as the Company released its first quarter 2015 results. Like other coal producers, ITMG, controlled by Thailand energy giant Banpu Pcl, reported 60.7% fall in net profit to US$38 million in the quarter.
Read MorePretty much as predicted, national police has named two names previously mentioned in our list suspects in the corruption case evolved around the troubled petrochemical complex PT Trans Pacific Petrochemical Indotama, otherwise known Tuban Petrochemical Complex. Who’s next?
Read MoreThe government has early last week launched the ambitious 35,000 MW power project. State-owned PT Perusahaan Listrik Negara (PLN) will take on 10,000 MW, equal to 2,000 MW per annum and investment cost of around US$4 billion. The balance needs investment from the private sector.
Read MorePresident Joko ‘Jokowi’ Widodo is probably the only president ever visiting Papua three times in less than one year. Over the weekend, he kicked off construction of a Rp1.5 trillion flyover connecting Hamadi and Holtekam in Jayapura, the capital city of Papua province.
Read MorePublic is now waiting the upcoming announcement from the government on who will be members of the selection committee for the 2015-2019 KPK leadership. The membership of said selection committee matters because they will enlisting those recommended to become the next KPK leaders. Depending on the process and its outcome, including the process at the House of Representatives, this could be an important step to consolidation of president Joko ‘Jokowi’ Widodo’s power.
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It appears that maneouver to revise the Regional Election Law No. 1/2015 and the Law No. 2/2011 on the amendment of the Political Party Law No. 2/2008 came from the opposition group at the House of Representatives (DPR). One can’t be blamed to suspect that the revision of said two laws is merely aimed at make sure Golkar and PPP led by factions supporting the opposition group can participate in the 2015 simultaneous regional elections. But it seems that the opposition will fail to push for the revision because the government and the ruling coalition rejected the idea.
Read MoreKompas, the largest newspaper in the country, published two interesting headlines this morning. One on reports from various ministries that funds from the State Budget 2015 for their respective strategic programs have been disbursed last week upon completion of administrative changes in the nomenclature of budget items. Second is on progress report at ministry of transportation, which received the second largest funding for infrastructure project.
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After “winning” the judicial review of Law No. 7/2004 on Water Resources (SDA) recently and the closing down of Upstream Oil and Gas Regulatory Body (BPMigas) in late 2012, the Central Board of Muhammadiyah (PP Muhammadiyah) together with some elements of the society continued to extol the ‘constitutional jihad’ through judicial review of other Laws.
Read MoreThe Constitutional Court (MK) through its decision No. 85/PUU-XI/2013 had declared the Law No. 7/2004 on Water Resources (SDA) inconstitutional. This decision certainly brings a great deal of impacts to the business community in Indonesia and the global investment community. The MK’s decision forced the government to review arrangements regarding water resources in the country.
Read MoreAustralia’s Financial Review quoted Rio Tinto’s new coal boss Jean-Sebastien Jacques Sunay (May 11) saying it will likely take three or four years before there is ‘a light at the end of the tunnel’ for the depressed thermal coal price.
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