Category: Business

Shares of cable TV operator PT MNC Sky Vision Tbk (MSKY), controlled by Hary Tanoesoedibjo’s MNC Group, ended lower by 1.63% on Tuesday (Nov 29) to Rp242 to make a market capitalization of Rp482 billion, only one-fifth of its...

Midi Utama Indonesia (MIDI), operator of Alfamidi stores, booked net profit of Rp309 billion in the first nine months (9M) to September of 2022, grew 57.6% year on year (y/y), as revenues grew 10% y/y to Rp11.5 trillion, and...

State steel producer Krakatau Steel (KRAS) plans to launch the initial public offering (IPO) of its unit or subsidiary (PT Krakatau Sarana Industri) and to launch the rights issue, offering new shares, in 2023. KRAS’...

General insurance firm Asuransi Bina Dana Arta (ABDA) announced on Tuesday (November 29) that Aseana Insurance Pte. Ltd has completed the mandatory tender offer for 47.1 million ABDA shares, representing 94.77% of ABDA’s...

Indonesian coal miners may enjoy the bonanza longer as thermal coal surged 8.76% to US$380 per ton on Monday (Nov 28). Tight supplies due to projected production disruption from wet weather in Australia and prospect of stronger demand in the winter season lifted the commodity. 

Teladan Prima Agro (TLDN), a company engaging in management consulting & palm oil plantations and processing industries controlled by the family of Wiwoho Basuki Tjokronegoro (also shareholder of Indika Energy), booked net profit of Rp560 billion in the first nine months (9M) to September of 20022, doubled y/y.

Coal miner Indika Energy (INDY) had on 23 November 2022 made a payment of US$160 million, equivalent to Rp2.5 trillion, to ST International Co Ltd (Samtan Co Ltd), an acceleration payment on the acquisition over 100,139 shares in PT Kideco Jaya Agung.

Coal miner Baramulti Suksessarana (BSSR), coal miner controlled by Suharya Family, and PT Golden Eagle Energy Tbk (SMMT), controlled by Peter Sondakh’s Rajawali Corpora, reported strong financial performance in the first nine months (9M) to September of 2022, thanks to higher average price of coal.