Asian 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.
Read MoreShares of Indika Energy (INDY), one of the largest coal producers and oil and gas EPC contractors, ended slightly lower by 0.84% to Rp1,175 last Thursday (Mar 27). At this price, Indika was worth Rp6.12 trillion, not even half of its equity (Rp22 trillion by Dec 31, 2024).
Read MoreSo, Fore Coffee (FORE) will start trading of its stocks on the Indonesia Stock Exchange (IDX) next week. The coffee outlet will start with market capitalisation of around Rp1.9 trillion, slightly below MAP Boga (MAPB), which operates Starbucks, Pizza Marzano, Krispy Kreme, Genki Sushi, etc.
Read MoreShares of Sarimelati Kencana (PZZA), operator of Pizza Hut outlets in Indonesia, closed higher by 3.57% to Rp116 last Thursday (Mar 27). The stock, however, is now worth only one-tenth of the valuation set by underwriters (CLSA, CGS-CIMB and Mandiri Sekuritas) in the initial public offering (IPO) seven years ago.
Read MoreShares of Kalbe Farma (KLBF), the largest pharmaceutical group in Indonesia, ended higher by 3.128% to Rp1,135 last Thursday (Mar 27) as investors anticipated improved financials of the company. It indeed reported an unprecedented 17% growth in net profit to Rp3.24 trillion last year on improved operational margins and strong balance sheet.
Read MoreFlag carrier Garuda Indonesia (GIAA) booked net loss of US$72.7 million last year despite a relatively strong performance in the fourth quarter and growth of sales revenues by 16.3% to US$3.42 billion for full year.
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