Author: yosefardi.com

2017 Result: BNI

PT Bank Negara Indonesia (BNI) Tbk (BBNI) booked profit after tax of Rp13.62 trillion in 2017. It grew 20.1% from Rp11.34 trillion in 2016, supported by 6.5% growth in net interest income and 13.9% growth in non interest income. Provision of loan also declined 9.3% to Rp7.13 trillion.

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Improved Infrastructure Outlook: Show Me The Money! (5)

Luhut Binsar Pandjaitan, coordinating minister for maritime affairs, was in Majalengka Regency, West Java province Wednesday to inspect physical construction of Kertajati international airport. As construction is nearing completion, state airport management company PT Angkasa Pura II and developer of the airport, PT Bandara Internasional Jawa Barat (BIJB), are finalizing their operation cooperation scheme (KSO).

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Oil & Gas Journal

Nymex’s crude oil price rose 0.4% to US$64.25 per barrel on Wednesday (Jan. 17) ahead of the release of U.S. petroleum data that was expected to show a ninth straight weekly drawdown in crude inventories, Reuters reported. As oil price is increasing and recovering, oil and gas producers begin to think about investing in exploration activity for oil and gas, aiming to boost the oil reserves. The investment in oil and gas exploration declined since 2014 due to falling world oil price.

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Improved Infrastructure Outlook: Show Me The Money! (4)

Minister of Finance Sri Mulyani Indrawati, Minister of Transportation Budi Karya Sumadi and Minister of Public Works and Public Housing Basuki Hadimuljono were all in North Sumatra yesterday to inspect construction progress of Kuala Tanjung port, set to be an international hub. Phase I of the project with Rp4 trillion of investment is nearing completion and scheduled for commercial operation in the second quarter.

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Electronic City Spends 66% IPO Proceeds

Electronics retailer Electronic City Indonesia (ECII) has spent Rp825.95 billion of IPO proceeds (66%), for paying debt to Bank CIMB Niaga and Bank Victoria (Rp150 billion), investment & expansion (Rp514.13 billion, and working capital (Rp164.81 billion). ECII suffered loss of Rp11.9 billion in the first half (H1) of 2017. Its sales rose 9.2% to Rp863...

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Syariah Banks’ Assets Grow 11%

The Financial Services Authority (OJK) said the syariah banks’ assets grew 11% year to date in November 2017 and outstanding loan disbursement rose 10.66%. Per October 2017, outstanding loan of syariah banks increased 15.68% to Rp274.20 trillion. Third party funds grew 20.57% to Rp319.12 trillion. Syariah banks booked net profit of Rp3.13 trillion, a 47.64% rise. The industry’s capital adequacy ratio (CAR) reached 16.14% while non performing financing (NPF) was 2.78%...

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The Chief of the Constitutional Court Found Guilty of Code of Ethics Violation

The Chief of the Constitutional Court Justice Arief Hidayat was supposed to end his term in April 2018, but in November 2017, the House of Representatives conducted a fit and proper test and decided to extend his term to 2023. Several parties objected to the decision. Desmond Mahesa of Gerindra even accused Justice Arief of negotiating for extension of term in exchange for voting favors. Last week, the Constitutional Court’s Board of Ethics found Arief guilty of a minor violation and he was thus given an oral sanction.

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Coal Price Remains High on Robust Chinese Demand

Coal demand remains high, particularly due to robust demand from China, the world’s largest coal importer. This brings the projection for the full-year 2018 coal price to the range of US$98.50 – $107.00 per metric ton. So far this year the coal price (ICE NewCastle Coal January 2018) rose around 4%. In 2017, coal price surged 57.09%.Based on data from Chinese authorities, China imported 22.74 million tons of coal in December 2017, up from 22.05 million tons in the preceding month. The government of China allowed more imports over this period. In 2017, China imported 270.9 million tons of coal, up 6.1% (y/y) from imports in the preceding year and the highest import figure since...

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Adhi Karya Spent on LRT Project

In line with the progress in the light rail transit (LRT) project, state construction company Adhi Karya (ADHI) has used the majority of funds that were assembled through the company’s rights issue. It has spent Rp2.4 trillion – or about 88% of rights issue proceeds. ADHI allotted all proceeds from the rights issue to the LRT project in the Greater Jakarta region (Jakarta-Bogor-Depok-Tangerang-Bekasi). The project is a transit-oriented development (TOD) project, meaning that it is a type of urban development that maximizes the amount of residential, business and leisure space within walking distance of the LRT. The project aims at reducing severe traffic congestion in the Greater Jakarta...

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