Category: Market

As of this morning, around 1.27 million people worldwide have been confirmed Covid-19 positive, wherein 69,418 have died. There is no accurate data available, however, about how many people have actually been infected. There are scattered data about how many people have been tested in some countries, but should all 7.8 billion people be tested?

Pharmaceutical firm Kalbe Farma (KLBF) booked a net profit of Rp2.54 trillion in 2019, up 1.6% year on year (y/y), mostly supported by top-line growth, as well as marketing expense control. It booked a net revenue of Rp22.6...

Global stock markets closed in the red on Friday last week (April 3) and are expected to extend the correction this week as analysts and investors worry about the spread of the virus and its impact on the economy, although some...

The Financial Services Authority (OJK) offers the merger option to multi finance firms with weak capital capacity, for keeping their business operation or going concerns. The multi finance firms are urged to get additional...

More countries have sent out signals of lifting some restrictions related to the handling of Covid-19 outbreak. Both Italy and Spain, two of the worst affected in Europe, have seen early signs of the plateau, but decided to extend their respective lockdown for two more weeks at least. United Kingdom, meanwhile, might need seven to 10 days more to see the peak.

Hospital operator Mitra Keluarga (MIKA) booked profit attributable to equity of Rp730 billion in 2019, grew 19% year on year (y/y) as revenue rose 18% to Rp3.2 trillion. Operating profit increased by 20.7% to Rp942 billion.

Consumer goods retailer Sumber Alfaria Trijaya (AMRT), the operator of Alfamart convenience store outlets, booked profit attributable to equity of Rp1.1 trillion in 2019, jumped 71% from Rp650 billion in 2018 as it booked other income of Rp1.13 trillion, higher than Rp783.49 billion in 2018. Revenue rose 8.9% to Rp72.9 trillion from the previous Rp66.8 trillion. Gross profit increased 9.8% to Rp14.5 trillion, and operating profit grew 27.8% to Rp1.79 trillion from Rp1.4 trillion in 2018.

Cellular phone provider Indosat (ISAT) has restructured its organization, part of its strategy within three years. Some 92% of total employees (677 staff members) have approved said reorganization. Indosat spent up to Rp633 billion for the compensation of this program.

As of April 2nd, ASEAN recorded 10,953 confirmed Covid-19 cases or about 1% of the total cases in the world (1.01 million). Number of cases doubled in the past nine days, which might be related to a relatively low per capita testing in Indonesia and the Philippines. A total of 347 people died in ASEAN, home to over 650 million population, or about 0,65% of the world total (52,983).

The world is moving closer to its first one million confirmed Covid-19 cases. Data from Johns Hopkins University’s Coronavirus Resource Center pointed to 935,817 confirmed cases worldwide as of this morning with 47,207 deaths. There were 215,417 cases in the US, doubled from five days ago, and counting.

Taxi operator Express Transindo Utama (TAXI) suffered a loss of Rp276 billion in 2019, narrowed significantly from the loss of Rp836.8 billion in 2018. Revenues dropped 44.4% to Rp134 billion, and the costs of revenue fell 32% to Rp294 billion. 

Finance Minister Sri Mulyani Indrawati sees Indonesia’s economic growth could touch the negative level (contracting) at minus 0.4%  this year due to the strong impact of the COVID-19 pandemic. In an optimistic scenario, the minister said the economy could grow by 2.3% this year, far lower than the government’s target of Rp5.3% growth.