Category: Business

Corporate Actions & Results

State-owned construction firm Wijaya Karya (WIKA) is seeking contracts from overseas countries that focus on infrastructure projects. It booked new contracts of Rp2.01 trillion from Algeria, while it targets to book new contracts of Rp3.8 trillion from overseas for this year.

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Weak Lending Growth

Similar to January, lending growth in February this year was weak, in line with the lack of economic activities early on in the year. Economic activity is typically slow in the first quarter (Q1), with the demand for lending starting to grow in Q2. In 2017, lending only grew 8.3%, lower than BI’s projection of 10-12%. The amount of lending last year reached Rp4,763.2 trillion.

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Jokowi’s State Capitalism (2)

State-owned railway operator PT Kereta Api Indonesia (KAI) booked net profit of Rp1.72 trillion last year, surged by 67% from 2017 thanks to higher sales revenues and improved margins. The Company’s assets also jumped by 33% to Rp33.5 trillion, while equity moved closer to US$1 billion.

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Market Outlook

Investors will refocus on Federal Reserve’s policy this week, while trade tensions also remain in focus. In addition to that, investors are assessing the implications of a new head at China’s central bank, after the Wall Street Journal reported that Yi Gang was named to run the PBOC.

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Semen Indonesia: FY17 Results & Outlook

PT Semen Indonesia (SMGR) Tbk booked net profit of Rp2 trillion last year, collapsed 55.4% from 2016 due to squeezed margins from intense competition, higher input costs and finance costs. With earning per share of Rp340, the current price (Rp10,525) looks very expensive. What to expect going forward?

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Coal Journal & Baramulti Suksessarana

Thermal coal recovered slightly to US$92.73 per ton Thursday (Mar 15) to represent year-on-year gain of 14%. On Friday, however, the commodity retreated to US$92.05 per ton. Some are worried that coal will break the psychological level of US$90, but others expect short-term support from China and USA data.

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Those Continue to Expand: Golden Land Berhad

The benchmark June 2018 contracts of crude palm oil (CPO) retreated RM23 to RM2418 per ton Friday (Mar 16). That means plantation companies have to bear with low price environment for most part of the first half. Still, plantation companies continue to bet on future growth. Malaysian company Golden Land Berhad, for example, decided to proceed with its plantation expansion program in Indonesia.

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Bank DBS Profit Down 17.4%

Bank DBS Indonesia booked net profit of Rp503 billion in 2017, declined 17.4% from Rp609 billion in 2016. Net interest income rose 12% to Rp2.9 trillion from previous Rp2.67 trillion. But operating profit fell 11.3% to Rp648...

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