Improved Indicators?

Indonesian Automotive Industry Association (Gaikindo) was upbeat with sales of cars in the first two months of 2017, which grew 5.8% from the corresponding period of 2016. Time will tell as to whether this year’s sales would beat the association’s growth projection of...

Jakarta Election Runoff: Ahok-Djarot’s Movements

The Jakarta Governor Basuki “Ahok” Tjahaja Purnama, his running mate Vice Governor Djarot Saiful Hidayat (Ahok-Djarot), and the Jakarta provincial administration in the last few days have been making interesting moves. It appears that the incumbent is trying to show...

The E-KTP Graft Case: Plot Twist

On March 23, 2017, the Corruption Court of the Central Jakarta District Court resumed the trial of the two defendants in the electronic identity card (E-KTP) graft case. The trial session took a surprise turn when one of the witnesses summoned by the prosecutors asked...

FY16 Results: Fast Food Indonesia

PT Fast Food Indonesia (FAST) Tbk, operator of Kentucky Fried Chicken outlets, booked net profit of Rp173 billion last year, jumped 64% from 2015. The Company was more aggressive last year with 32% increase in acquisition of fixed assets to grow its outlets. As shown...

The E-KTP Graft Case: New Suspect

The Corruption Eradication Commission (KPK) finally named Andi Agustinus a.k.a Andi Narogong a new suspect in the electronic identity cards (E-KTP) procurement graft case. Andi, whose name dominates the indictment prepared for the first two suspects, was detained...

Market & Corporate Actions

Foreign investors continued buying local stocks on Thursday (Mar 23) as they booked a net buy of Rp429.1 billion, bringing year-to-date net buy to Rp6.08 trillion. The composite index of the Indonesia Stock Exchange (IDX) gained 0.54% to close at 5,563 yesterday....

FY16 Results: Indofood Group & Ultrajaya

Indofood Sukses Makmur (INDF), the largest food company in Indonesia, booked net profit of Rp4.14 trillion last year, jumped by almost 40% from 2015, but mostly due to substantial decline in finance costs. The group’s sales revenues grew only 4.2% last year with even...

Banking Updates

Some of the banks that suffered losses last year have reported positive earnings in January this year. The Central Bank (Bank Indonesia/BI) reported that national commercial banks booked a net profit of Rp10.54 trillion in January 2017, it grew by 8.3% from Rp9.73...

Barito Pacific & Star Energy Acquisition

After years of speculation, Barito Pacific (BRPT) has on March 21, 2017 signed a suplemental memorandum of understanding with Star Energy Investment Ltd (SEIL) and SE Holdings Limited for the acquisition of Star Energy Group Holdings Pte Ltd. This is a related party...
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