Author: yosefardi.com

Ariobimo Group and Taman Ria Senayan Project

A plan to build new legislative building continues to spark controversies. Leaders of the House of Representatives (DPR) insist that President Joko ‘Jokowi’ Widodo has approved the Rp1.6 trillion project, but some political parties recently changed their minds, calling the project not urgent this time around.

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Bottled Water Business: Results & Outlook (2)

Almost all major food & beverage business players are in the bottled water business to challenge domination of Danone (Aqua). Salim Group, Wings Group, Orang Tua Group, Nestle, and Mayora are some of them. Competition intensifies, but room for growth and better margins are still there.

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Bottled Water Business: Results & Outlook (1)

Shares of newly listed bottled water producer Sariguna Primatirta (CLEO) ended lower by 3.3% to Rp464 yesterday as some investors realized gains. The stock has gained 181% from its IPO price of Rp165 few months back. CLEO is now valued nearly four times equity, significantly higher than ADES and ALTO, two other bottled water producers listed on Indonesia Stock Exchange (IDX).

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Protelindo’s H1 Profit Down 3.7%

PT Professional Telekomunikasi Indonesia (Protelindo) booked net profit of Rp1.27 trillion in first half (H1) this year, down 3.7% from Rp1.32 trillion in H1 last year. Revenue increased 9% to Rp2.64 trillion but operating profit declined 0.7% to Rp2.02 trillion. Finance cost also rose 27% to Rp361 billion. Protelindo’s main customers are PT Hutchison 3 Indonesia with 36% revenue contribution (Rp959.6 billion), PT XL Axiata Tbk with 24% contribution (Rp634.46 billion), and PT Telekomunikasi Seluler with 20% contribution (Rp519.7 billion). The Company’s assets reached Rp26.46 trillion while liability amounted Rp15.16 trillion. It has huge cash of Rp4.04...

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Meikarta’s Land Acquisition at 16.8%

Lippo Group managed to acquire 16.8% of the total land required to develop the ambitious Meikarta township project. Although the land acquisition process is far from completed, while in various local media it is speculated that Lippo Cikarang, the developer of the Meikarta project, still has not obtained all necessary permits on the provincial level to start construction, the Lippo Group has been marketing its Meikarta township project aggressively to Indonesian consumers. In the first stage the Lippo Group offers 225,000 apartment units to consumers, with the price ranging between Rp127 million and Rp560 million. It is estimated the whole Meikarta project will require IDR 278 trillion (approx. USD $21 billion) worth of...

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Pertamina’s Profit in H1 Declines 24%

State oil and gas firm Pertamina booked net profit of US$1.4 billion in first half (H1) this year, declined 24% from US$1.83 billion in H1 last year. Revenues increased 19% to US$20.5 billion. Higher crude oil price and flat fuel price are factors for Pertamina’s profit decline in said period. Crude oil price increased 30% to US$48.9 per barrel from US$36.16. Pertamina’s realized investment also rose to US$1.49 billion from previous US$810...

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Alibaba Invests Rp14 Trillion in Tokopedia

China’s e-commerce giant Alibaba Group Holding Ltd is said to have signed new investment agreement with Indonesian online shopping facilitator Tokopedia. Tokopedia’s CEO William Tanuwijaya said the new investment from Alibaba reaches US$1.1 billion, equivalent Rp14 trillion. Alibaba will have minority ownership in Tokipedia. In April 2016 Alibaba has already obtained a controlling 83% stake in e-commerce platform Lazada Group SA for a price of US$1...

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Home Credit Indonesia Posts 199% Jump in Financing

Consumer finance provider Home Credit Indonesia booked financing of Rp2.1 trillion in the first half (H1) this year, jumped 199% from Rp702 billion in H1 last year. Financing for mobile phone reached 76%, followed by electronics (14%), and furniture (10%). Home Credit has its operations in 48 cities across the country. Its customers reached 1,324...

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Sillo’s Unit Buys Vessel $23.7 Million

Shipping firm Sillo Maritime Perdana (SHIP) said its subsidiary PT Suasa Benua Sukses (SBS) has purchased a vessel at price of US$23.7 million from Liberia-based Fertecks Shipping Inc. SHIP holds 50.84% stake in SBS. SBS in July 31, 2017 has obtained loan facility of US$28 million from Bank KEK Hana Indonesia with tenor of 5 years. SHIP now has 12 vessels. It booked net profit of US$5.51 million in first half (H1) this year on revenues of US$19.55...

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Bakrieland to Restructure Rp3.6 Trillion Bond Debt

Property developer Bakrieland Development (ELTY) focuses to restructure its bond debt of Rp3.6 trillion, representing 47% of its total liability. This restructuring of bond debt aims to strengthen its capital structure, then the Company could expand its business. In 2016, ELTY booked net revenue of Rp1.68 trillion, a 20.9% rise from 2015. But it turned to negative as ELTY suffered loss of Rp5 billion in the first quarter (Q1) this year, against Rp96 billion profit in the same period last...

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