Author: yosefardi.com

Steel Export Jumps 94%

National steel and iron export jumped 94% to US$3.62 billion (Rp52.17 trillion) in Jan-Aug 2018 period, from US$1.86 billion in the same period of last year. Local steel producers opt to boost export as domestic economy is slowing down. Otherwise import of steel and iron also rose 32.68% to US$6.38 billion in Jan-Aug 2018 period, from US$4.81 billion in the same period of...

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Moody’s Downgrades Lippo Karawaci to B3, Outlook Negative

Moody’s Investors Service has downgraded the corporate family rating of Lippo Karawaci (LPKR) to B3 from B2. Moody’s has also downgraded the backed senior unsecured rating of the bonds issued by Theta Capital Pte. Ltd., a wholly-owned subsidiary of Lippo Karawaci, to B3 from B2. The bonds are guaranteed by Lippo Karawaci and some of its subsidiaries. The rating outlook is...

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Oil & Gas Journal

The Budget Commission of the House Representative (DPR) and the Indonesian Government have agreed on the cost recovery set at US$10.21 billion in the State Budget (APBN) for 2019, lower than US$11.39 billion set on State Notes 2019. The decline in production cost, to less than US$5.13 billion from US$5.95 billion, is the main reason for setting lower cost recovery.

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Medco Energi & Disputes

PT Medco Power Indonesia, subsidiary of PT Medco Energi Internasional Tbk (MEDC) founded by Arifin Panigoro, recently filed a lawsuit against several parties including Energy World Corporation Ltd which is linked to the ASX listed Energy World Limited (EWC) to the South Jakarta District Court. At the heart of the dispute is the shares purchase agreement supposedly agreed in 2015.

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Interesting Lawmaker Candidates to Watch (10)

Today (Sep. 20), the General Election Commission (KPU) will officially release the name of the lawmaker candidates and the presidential pairs who will compete in the 2019 simultaneous legislative and presidential elections. We’ve noted some interesting names of lawmaker candidates several past articles. In this occasion, let’s look into the six remaining electoral regions (Dapil) in East Java, the second most populous province in the country.

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IPO to Watch: HK Metals Utama

PT HK Metals Utama, member of Hyamn Group, engaging in metal and steel manufacturing, has on Wednesday (Sep. 19) kicked of its initial public offering (IPO) for 1.46 billion shares, representing 40% of total issued and paid-up capital.

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Market Snapshots

Global markets gained on Wednesday (Sep. 19) despite concerns over the escalating trade dispute between the U.S. and China. Asian stocks rose yesterday as investors shrugged off the intensifying trade dispute. Wall Street, meanwhile, closed mixed with investors preparing for the upcoming Fed policy meeting next week that could send interest rates higher.

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Silkroad & The Nickel Country

Silkroad Nickel Ltd has become the first Indonesian nickel concession listed on catalyst market of Singapore Exchange (SGX). At the last quoted price, Silkroad has market capitalization of S$127 million, pretty good for a company with nickel mining concession of 1,301 hectares only in Morowali Regency, Central Sulawesi province.

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Will Wuling Make a Difference? (2)

A year ago, when Wuling started local production of its cars, we raised question about the Chinese car manufacturer’s ability to compete in the market long dominated by Japanese manufacturers. Data from Indonesian Automotive Industry Association (Gaikindo) pointed to strong first year for Wuling. 

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