Wall Street ended further lower ground Friday (Apr 4) as China, the world’s second largest economy, announced retaliatory measures against unilateral decision from US president Donal Trump to raise tariffs. Dow Jones Industrial Average (DJIA) lost 5.5%, while S&P 500 fell almost 6%.
Read MoreFor the full year 2024, SeaBank reported a net profit of Rp370.3 billion, a substantial jump from previous years. Total assets reached Rp34.7 trillion, with net loans of Rp19.6 trillion and third-party funds (DPK) of Rp26.6 trillion.
Read MoreShares of Indofood Sukses Makmur (INDF), the largest food processor in the country, ended higher by 2.5% last Thursday (Mar 27), while subsidiary Indofood CBP Sukses (ICBP) closed lower by 3.6% as investors reassessed fair valuation.
Read MoreShell plc, through its subsidiary Shell Singapore Pte. Ltd, has completed the previously announced sale of its Shell Energy and Chemicals Park (SECP) to CAPGC Pte. Ltd on March 28, 2025. CAPGC is a joint venture firm that is majority-owned and operated by Chandra Asri (TPIA), the leading chemical and infrastructure company in Indonesia and minority-owned by Glencore through their respective subsidiary companies.
Read MoreThe Ministry of Housing and Settlement (PKP) plans to build 220,000 subsidized homes for workers with low income through housing financing liquidity facility (FLPP). This is part of President Prabowo Subianto’s 3 million homes per year flagship program, for which a total of Rp 40.27 trillion has been budgeted.
Read MoreAsian equity markets declined further this morning to track substantial corrections in the Wall Street Thursday (Apr 3) related to the looming global trade war. All Ordinaries opened lower by 1.5% in Sydney, while Nikkei 225 and Kospi Index down 1.6% and 1.4% respectively in Tokyo and Seoul.
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Asian stock markets opened substantially lower Thursday (Apr 3) morning to respond the sweeping reciprocal tariffs announced by US president Donald Trump on Wednesday. US stock futures also dropped significantly as market participants were worried that a global trade war would hurt the economy.
Read MoreShares of state cement maker Semen Indonesia (SMGR) ended lower by 3.64% to Rp2,650 last Thursday (Mar 27) to make a market capitalisation of Rp17.9 trillion, not even half of the company’s equity (Rp48.3 trillion by Dec 31, 2024) as investors continued discounting its value.
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Unlike Djarum Group (Hartono Family), which succeeded in growing non-tobacco business, Gudang Garam (Wonowidjojo Family) has relatively been late in developing businesses outside cigarette production. The family has also lost the opportunity to sell Gudang Garam (GGRM) at its premium valuation.
Read MoreCita Mineral (CITA), the largest bauxite ore miner in Indonesia, which is co-owned by Harita Group (a diversified business group controlled by Lim Haryanto family) and Glencore Plc (one of the world’s largest mining companies), has just published its full year 2024 financial results.
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