Category: Business

October Trade Deficit

Indonesia returned to trade deficit in October with US$1.82 billion, second largest monthly deficit this year, putting pressures on current account deficit (CAD) and rupiah. Deficit in oil and gas contributed US$1.43 billion, mainly due to higher average prices of crude oil and refined products in the month. 

Read More

Market Data

Foreign investors returned to buying local stocks on Wednesday (Nov 14), while domestic investors opted to lock in profits and so the composite index of the Indonesia Stock Exchange (IDX) closed off its high. IDX ended up 0.4% at 5858, cutting earlier gain of 1.06%. Foreign investors booked a net buy of Rp530.77 billion yesterday, cutting year-to-date net sell to Rp48.1 trillion.

Read More

Eagle High & Peter-Felda (2)

Shares of Eagle High Plantation (BWPT), a company co-owned by Peter Sondakh’s Rajawali Corpora and Malaysia’s Felda Group, ended lower by 1.88% to Rp157. That means BWPT has market capitalization of Rp4.95 trillion, way below Rp7.5 trillion paid by FIC Properties Sdn Bhd (Felda unit) for 37% shares in the palm oil producer. 

Read More

State Capitalism: Bukit Asam

PT Bukit Asam Tbk (PTBA), coal mining subsidiary of state mining company INALUM, booked net profit of Rp3.93 trillion in the first nine months of 2018, jumped by 49.7% from the corresponding period of 2017, thanks to higher average prices of thermal coal. PTBA shares are among best performing stocks on IDX with 98.4% gain year-to-date.

Read More

Oil & Gas Mafia Slowing the Development of Pertamina’s Refineries?

The notion that there’s an oil and gas mafia controlling Indonesia has been around since the New Order. We’ve heard of the so-called oil and gas mafia nesting in the trading company of PT Pertamina (Petral). The Government Joko “Jokowi” Widodo established Oil and Gas Mafia Eradication Task Force and eventually got rid of Petral, confirming that there was indeed a mafia operating under the guise of Petral. The question that follows: have the oil and gas mafia really disappeared?

Read More

Policies Issue to Watch

The Indonesian Government will revise the negative investment list (DNI) to attract more investment into the country. According to the Minister of Industry Airlangga Hartarto the revision would be finalized this month. The items currently under discussion are investments for manufacturing and small-medium enterprises.

Read More

Market Snapshots

After two days of corrections, the composite index of the Indonesia Stock Exchange (IDX) returned to gain on Tuesday (Nov 13), closing higher 1% at 5,835 on the back of buying by domestic investors. Foreign investors, meanwhile, booked a net sell of Rp158 billion, bringing year-to-date sell to Rp48.64 trillion.

Read More

Mixed Q3 Results of Telco Towers

Unlike tower operator Sarana Menara Nusantara (TOWR), Tower Bersama Infrastructure (TBIG) reported a 21.7% decline in net profit to Rp216 billion for the third quarter (Q3) of 2018, due to a 350% jump in income tax expenses to Rp36 billion from Rp8 billion previously. In the first half (H1) of 2018, TBIG reported a 7.75% growth in net profit, in line with the 7% growth in revenues and the 4.47% growth in operating profit.

Read More

Coal Journal

While waiting amendment of Government Regulation No. 23/2010 regarding extension of the coal contract of works (CCoWs), miners continue to report strong growth. Golden Energy and Resources Ltd, a company controlled by Sinarmas Group, for example, produced 15.9 million tons in the first nine months of 2018, jumped by 58% from the corresponding period last year.

Read More

Energy Commodities: Part Ways

WTI crude oil fell sharply by 7.21% to US$55.68 per barrel Tuesday (Nov 13) in New York amid rising production and a softening in US President Donal Trump’s oil sanctions on Iran. Brent oil also declined by 6.56% to US$65.64 per barrel after OPEC lowered further its forecast for oil demand, which is linked to potential slowdown of global economy.

Read More
Loading
error: Content is protected !!