Category: Industries

Papua Government’s Portion in Freeport

PT Indonesia Asahan Alumina (INALUM) will hand over 10 percent of its shares is PT Freeport Indonesia (PTFI) to the Province Government of Papua and the Regency Government of Mimika (3 percent to the Province Government and 7 percent to the Regency Government). President Director of INALUM Budi Gunadi Sadikin have provided some details of the arrangement.

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Revisiting Arwana Citramulia: Stronger Q3

Ceramic and tile producer PT Arwana Citramulia Tbk (ARNA) has just released its financial statement for the period ended Sept 30, 2018. The Company reported stronger performance in third quarter with net profit of Rp46.3 billion, skyrocketed 107% from the corresponding period last year.

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Corporate Actions & Results

Ceramic producer Arwana Citramulia (ARNA) booked a net profit of Rp117 billion in the first nine months ended September 2018 (it grew 37.6% from Rp85 billion in the corresponding period of 2017). Sales rose 15.5% to Rp1.46 trillion from Rp1.26 trillion previously.

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ANTM’s Nickel Pig Iron Project

State miner Aneka Tambang (ANTM), which is a subsidiary of state mining giant INALUM, has on October 11, 2018 signed a Head of Agreement (HoA) for the East Halmahera Blast Furnace Nickel Pig Iron (NPI) Plant Development Project with Ocean Energy Nickel International Pte. Ltd (OENI) at the Indonesia Investing Forum 2018 in the IMF-World Bank Annual Meetings in Nusa Dua, Bali.

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Rupiah & Textile Sector

The rupiah weakened back to Rp15,253 against the U.S. dollar on Thursday (after appreciating in previous day). Foreign investors continued to pull their fund out from the stock market as risk-averse sentiments grew stronger due to the rise in yields of U.S. treasuries.

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Hyatt Acquires Alila

PT Bukit Uluwatu Villa Tbk (BUVA) will get US$11.3 million cash from divestment of its 20% interest in Alila Hotels & Resorts Limited (AHR), owner of Alila brands. Hyatta Hotels Corporation has on Monday (Oct 8) announced that it has on October 6, 2018 signed agreement to acquire Two Roads Hospitality, an international hotel management company with unique property brands, including Alila.

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Corporate Actions

Polyester producer Asia Pacific Fibers (POLY) plans to resume operation of its purified therephalic acid (PTA) plant in 2019. The drop in PTA prices and the jump in gas fuel made the Company halt the operation and production of said plant in 2015.

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Equity to Watch: HKMU & MPRO

HK Metals Utama (HKMU), member of Hyamn Group, engaging in metal and steel manufacturing, will list and trade its shares on the Indonesia Stock Exchange (IDX) this morning. The Company is set to list 3.2 billion shares with market capitalization of Rp741 billion.

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Tourism Industry Outlook

Coordinating minister for maritime affairs Luhut Binsar Panjaitan claimed 32,000 participants from 189 countries have registered to attend the IMF-World Bank Annual Meeting in Nusa Dua, Bali Island, which kicks off today. The registered participants is way above initial prediction of around 20,000 people. 

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Revisiting Wahana Pronatural

Dried seaweed producer Wahana Pronatural (WAPO) turned to positive in the first half (H1) of 2018 as it enjoyed a 148% jump in sales in the period. It then booked net profit of Rp1.6 billion, against loss of Rp225 million in H1 of last year.

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