Category: Profiles

Another Strong Month for United Tractors

United Tractors (UNTR) sold 302 units of Komatsu construction machinery last month, jumped by almost 69% year-on-year, thanks to strong sales to agriculture (plantation) and mining sector. Sales to forestry sector grew 7.1% year-on-year, but sales to construction sector collapsed 56% to 51 units only

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Ridwan Mukti, Bribery & the Wives Club

Investigators from the Corruption Eradication Commission (KPK) have arrested Ridwan Mukti, governor of Bengkulu province in Sumatra Island, and his wife Lily Maddari after the wife reportedly caught accepting cash amounting around Rp1 billion in bribes from a contractor at the governor’s official residence in Bengkulu Tuesday (June 20).

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Sawit Sumbermas & Citra Borneo Indah’s Acquisitions

Palm oil producer PT Sawit Sumbermas Sarana (SSMS) Tbk is scheduled to convene an extraordinary meeting of shareholders on July 17, 2017. Detail agenda of the meeting might be known to public this Friday. SSMS is still the most expensive palm oil producer listed on Indonesia Stock Exchange (IDX) despite 17.4% correction from recent peak.

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Revisiting BTEK & Cocoa Processing

Shares of cocoa processor and forestry company PT Bumi Teknokultura Unggul (BTEK) Tbk declined further by 1% to Rp910 Monday (June 19). That means the stock already lost 26% its value year-to-date and 41.3% from its peak. Investors responded negatively BTEK’s poor performance in the first quarter.

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Aggreko & The Power Rental Business

UK company Aggreko has announced the acquisition of PT Kerta Bumi Teknindo (KBT), a power rental company, as key component of Aggreko’s strategy to expand its operations and investments in Indonesia. The acquisition intensifies competition in the temporary power services business in the country.

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Revisiting Agritrade Resources

Agritrade Resources Ltd, a company listed on the Hong Kong Stock Exchange with coal mining and fuel operation business in Indonesia, is an example of resilience of low-calorie coal producers in the country. The Company booked profit after tax of HK$312.52 million from sales revenue of HK$1.44 billion for financial year ended March 31, 2017.

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Fresh Pressure on Hary Tanoesoedibjo

National Police will declare status of media mogul and politician Hary Tanoesoedibjo in an alleged threat to Yulianto, the head of the subdirectorate for special crimes investigation of the Attorney General’s Office (AGO), next week. The statement effectively denied earlier statement from Attorney General HM Prasetyo suggesting Hary’s status as crime suspect in the case.

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Skybee: From HERO to ZERO

Media billing and ICT retailer PT Skybeen Tbk (SKYB), controlled by the same shareholder of the troubled Trikomsel Oke (TRIO), booked zero sales revenue in the first quarter of 2017. So, no improvement from the corresponding period of 2016. The Company’s total asset was only Rp34.8 billion, crashed from Rp851 billion in December 2011.

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Central Omega & Its Growing Optimism

Nickel miner and processor PT Central Omega Resources Tbk (DKFT) predicts net profit of Rp364.7 billion or Rp65 per share next year, jumped from an estimated net profit of Rp163 billion or Rp28.9 per share this year. The current price, accordingly, is seen very cheap with PE multiple 6.4 only. Really?

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Tourism Industry: Banyuwangi Marina Project

SUTL Enterprise Limited, a leading integrated marina developer, operator, and consultant and owner of the ONE°15 brand, has signed a Memorandum of Understanding to provide integrated marina consultancy services to PT Pelindo Properti Indonesia (PT PPI) on a marina project in Boom Banyuwangi in East Java, Indonesia, which is currently under construction.

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Salim Group Strengthen Grips in Indonesian Water Business

Few months ago, we speculated on possible future action from Anthoni Salim in water business, especially in Indonesia. On Thursday (June 8), Moya Holdings Asia Ltd, indirectly controlled by Anthoni, executed and completed a share purchase agreement for Acuatico Pte Ltd. Moya Holdings acquired Acuatico from Avenue Luxembourg S.A.R.L. and Hagerty Investments Ltd.

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Wimboh Santoso, New Chief of OJK

Wimboh Santoso has finally been elected new chief commissioner of the powerful Financial Services Authority (OJK) for the period of 2017-2022 to replace Muliaman Hadad. Wimboh was elected by 50 lawmakers in the House Commission XI, while Sigit Pramono got only four votes. Who is Wimboh?

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