Author: yosefardi.com

Corporate Results & Actions

State construction firm Waskita Karya (WSKT) is among top gainers year-to-date with 50.6% gain so far. This company booked net profit of Rp368 billion last year, jumped 45% from 2012 even though its sales revenue grew only 10%. Wall Street Journal, meanwhile, reported about plans from Ramayana Lestari (RALS) to divest shares in Robinson supermarket outlet for US$300 million.

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Kreasindo Resources & People Behind

PT Kreasindo Resources Indonesia and Iran-based Nakhle Barani Pardis have signed an agreement to build US$3 billion oil refinery in Indonesia, using imported crude oil from Iran as raw material. While we doubt the refinery can be eventually built, given more than 20 refinery projects announced in the past 20 years, but none is built, let’s take a look at people behind Kreasindo.

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Hanura Party: Lawmakers & Their Ambitions

Hanura Party deserves more attention considering the full back-up they receive from media tycoon Harry Tanoesoedibjo and his MNC Group. Recent surveys also show the party’s electability increasing. A survey from Jakarta Survey Institute (LSJ) placed Hanura in fifth position behind PDI-P, Golkar Party, Gerindra Party, and Nasdem Party with 6.85 percent electability. So, let’s talk a bit about this party.

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Oil Refinery Projects: Talk The Talk

Media widely reported two days ago that Iranian oil firm Nakhle Barani Pardis and Indonesia’s PT Kreasindo have signed agreement to build a US$3 billion oil refinery in Indonesia. This morning, media quoted vice minister of finance Bambang Brodjonegoro, that six Singapore-based investors have expressed their interest to build refinery in Indonesia.

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Growing Interests in Manufacturing Sector (1): LTLS

Lautan Luas (LTLS) is one of few players consistently develop their position in domestic manufacturing. It has 100 international principals and distributes more than 1,000 chemical products. Principals of Lautan Luas are also partners of Djarum Group and Wings Group, two of the largest consumer players in Indonesia, in the country’s largest fatty alcohol producers.

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Parkson & Indonesian Retail Play

Parkson Retail Asia Limited, listed on the stock exchange of Singapore, is among the fastest growing retail players in Indonesia. In six months ended December 31, 2013, the company opened four stores, including the first Parkson-branded store in Medan, the capital city of North Sumatra.

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Bakrie: Long Live Soeharto! Hatta: Take Me Please! Mega: Be Quiet!

Desperately seeking support from farmers and fishermen, Golkar Party chairman Aburizal Bakrie suggests party members to sell the ‘greatness of Soeharto’ to voters. Aware of lack of interest from voters, National Mandate Party (PAN) chairman Hatta Rajasa is now ‘for sale’ to political parties looking for partner. Megawati’s PDI-P, meanwhile, prefers to say nothing about the election.

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Market Snapshots & Corporate Actions

Kalbe Farma (KLBF) booked unaudited net profit of Rp1.92 trillion last year, grew 10.8% from 2012, while sales revenue increased by 17.4% to Rp16.01 trillion. This is a strong performance because it represents almost Rp38 earning per share. Another consumer player Ultrajaya (ULTJ), meanwhile, plans to build a new milk processing facility.

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Danamon & Adira’s Eroding Return

Bank Danamon (BDMN) gained 30% from its bottom late last year to close at Rp4625 yesterday. Trading interest in the stock dropped significantly to less than 4 million shares in the past three months. Other than the collapsed of a proposed acquisition by DBS, its fundamentals also weakened vis-à-vis peers.

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