Category: Profiles

SinemArt’s Shareholding Dispute: Hary Tanoe v. Sariaatmadja

Two of the biggest television companies, PT Media Nusantara Citra Tbk (MNCN) belonging to Hary Tanoesoedibjo and PT Surya Citra Media Tbk (SCMA) controlled by the Sariaatmadja family, are having a dispute over shareholding in PT Sinemart Indonesia, one of the biggest entertainment and production house companies in Indonesia. The dispute occurred after a court decision stating that the sale of shares of PT Sinemart Indonesia to SCMA’s subsidiary, which was conducted in January 2017, is not valid. What’s interesting is that the decision was made in an in absentia trial and PT Sinemart Indonesia had no knowledge of the trial whatsoever. How is that possible?

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Charoen & 7-Eleven Acquisition

Charoen Pokphand Indonesia (CPIN) is the largest integrated poultry player in Indonesia with sales revenue of Rp38.3 trillion last year, an increase of 27.9% from 2015. This Company booked net profit of Rp2.22 trillion, grew by 20.9% from 2015. At the current price, CPIN has market capitalization of Rp54.1 trillion or US$4.07 billion.

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Anies-Sandi & Their Heavy Luggage (3): Alcohol Game

Anies Baswedan and Sandiaga Uno, winner of Jakarta election, plan to start their term in October 2017 with divestment of the city administration’s shares in beer producer PT Delta Djakarta Tbk (DLTA). This clearly an opportunity to those have long targeted ownership in Delta Djakarta, a very profitable company with net profit of Rp254 billion last year, jumped by 33.2% from 2015.

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Anies-Sandi & Their Heavy Luggage (1): Conflict of Interests

It becomes clearer that VP Jusuf Kalla and Aksa Mahmud, whom Anies Baswedan consider as ‘parents and relatives’, are main supporters of the winning ticket in Jakarta election. It is disgusting how Erwin Aksa defended his chopper ride service for Anies. But, it won’t be a surprise to see inner circles of Anies-Sandi, including property business-linked politician Boy Sadikin would benefit directly and indirectly from new leaders in Jakarta. We’re not talking about the famous ‘down payment zero rupiah’ program here.

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Pelindo III: FY16 Results & Outlook

State-owned port management company PT Pelindo III, which manages, among others, Tanjung Perak & Teluk Lamong (Surabaya), Tanjung Emas (Semarang), Benoa port (Bali), Kota Baru port (South Kalimantan), and Lembar port (NTB) has just released its full year 2016 financials. The company booked net profit attributable to equity of Rp1.5 trilion last year, jumped by 30.1% from 2015. The company recorded revenue growth of 16.8% to Rp7.58 trilion, thanks to stronger growth in the fourth quarter.

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One Kecamatan One Center for Entrepreneurship (OK OCE) is a program that gubernatorial candidate Anies Baswedan and his running mate Sandiaga Uno (Anies–Sandi) intend to implement if elected. This is a program for the empowerment of Small-Medium Enterprises. A part of the program is the opportunity to create OK OCE Mart, which will not only function as typical minimart, but also a place to market products produced by participants of OK OCE. But let’s not go into the rationale or the design of this idea, instead let’s focus on who’s who.

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Hary Tanoe’s MNCN: Financials & Politics

Shares of Media Nusantara Citra (MNCN), controlled by businessman and politician Hary Tanoesoedibjo, ended flat at Rp1,900 Wednesday (Apr 12). At this price, MNCN has market value of Rp27 trillion, way below Surya Citra Media (SCMA), which is valued Rp42.4 trillion despite the fact that MNCN generated significantly bigger revenues than SCMA.

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Revisiting Tunas Baru Lampung

Tunas Baru Lampung (TBLA), producer of palm oil & derivatives and sugar, is among best performers last year with net profit of Rp615 billion, jumped 212% from 2015. The Company’s sales revenues grew 22.2% with even stronger (52.8%) growth in the fourth quarter. At the current price, TBLA is traded with PE multiple 10.3 on 2016 earnings.

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New MK Justice Saldi Isra

As predicted, Pesident Joko “Jokowi” Widodo finally named Saldi Isra the new justice of the Constitutional Court (MK). Saldi, a law expert from the Andalas University, will be sworn in tomorrow (Apr. 11). Saldi will replace the disgraced Patrialis Akbar, who is now entangled in graft. Can Saldi repair MK’s credibility? Can he maintain independence?

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