Category: Business

KPK’s Corporate Suspect: The Trial of PT Merial Esa

In 2016, the Corruption Eradication Commission (KPK) successfully cooperated with the Supreme Court and ratified the Supreme Court Regulation (Perma) No. 3/2016 on the procedures for examining cases involving corporations. According to the Perma, companies involved in cases of corruption can be held accountable. In 2017 the KPK named the first corporation suspect and to date, seven companies have been named suspects. Nevertheless, the inquisition process is more difficult than expected. 

Read More

Moderate Global Growth

The United States (US) economy expanded an annualized 6.9% on quarter in Q4 2021, much higher than 2.3% in Q3. It’s the strongest GDP growth in five quarters, with the biggest upward contribution coming from private inventories (4.9 percentage points), namely motor vehicle dealers, as companies had been drawing down stocks since the beginning of 2021.

Read More

XL Axiata-Link Net Acquisition

Axiata Group Berhad and XL Axiata (EXCL) on Thursday (Jan. 27) announced the signing of a conditional share purchase agreement (SPA) to jointly acquire an aggregate 66.03% equity interest in Link Net, internet and cable tv service provider, from Asia Link Dewa Pte. Ltd. (ALD) and First Media (KBLV).

Read More

FY21 Results: BMRI & BBCA

State-owned Bank Mandiri (BMRI) booked profit after tax of Rp28 trillion in 2021, growing 66.83% year on year (y/y) as profit from operation rose 58.48% y/y to Rp38.44 trillion. Provision expenses meanwhile fell 21.37% y/y to Rp19.54 trillion.

Read More

Axiata’s LinkNet Acquisition

So, Axiata Group Berhad and its Indonesian subsidiary PT XL Axiata Tbk (EXCL) have agreed to acquire 66.03% shares of PT LinkNet Tbk (LINK) from Lippo Group’s First Media (KBLV) and CVC’s Asia Link Dewa Pte Ltd for Rp8.72 trillion or Rp4,800 per share.

Read More

Fed Rate

The Federal Reserve (Fed) expects it will soon be appropriate to raise the target range for the federal funds rate as inflation is well above 2 percent and the labor market is strong.

Read More

Corporations to Watch

Mineral mining firm Kapuas Prima Coal (ZINC) aims to complete its zinc smelter in Central Kalimantan by the first quarter (Q1) of 2023. As of now, the construction of said smelter has reached 85%. This smelter will operate with a capacity of 30,000 tons per year.

Read More

FY21 Results of BNI

State-owned Bank Negara Indonesia (BBNI) or BNI booked net income of Rp10.89 trillion in 2021, surged 232.2% year on year (y/y) as net interest income rose 12.4% to Rp38.25 trillion, with a net interest margin (NIM) of 4.7%. Operating income also increased 13/7% to Rp55.86 trillion.

Read More

Quintessentially Nickel: Southeast Sulawesi

Southeast Sulawesi recorded export revenues of US$3.87 billion last year, only 1.85% of national total but expanded significantly from US$2.4 billion (1.47%) in 2020. Given massive investment in nickel processing industry, including stainless steel, export revenues from the province would continue to grow in the coming years.

Read More

Gojek-Temasek-Matahari Putra Prima

Shares of PT Matahari Putra Prima Tbk (MPPA), a retail company controlled by Riady Family (Lippo Group), dropped further by 6.14% to Rp214 on Wednesday (Jan 26) to make a market capitalization of Rp1.86 trillion. Whoever participated in November 2021 rights issue of MPPA already posted loss of 71.8% in the stock.

Read More
Loading
error: Content is protected !!