Category: Profiles

Indosat & The Falling ARPU

Indosat (ISAT), second largest telecommunication player, booked net profit of Rp173.9 billion in the quarter ended March 31, 2017, dropped by 19.9% from the corresponding period last year due to squeezed margins. Indosat’s sales revenue actually grew 7%, but operating profit down by 1.9%.

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Another Strong Quarter for ANTV, But…

Intermedia Capital (MDIA), immediate parent of TV station ANTV, booked net profit of Rp145.8 billion in the quarter ended March 31, 2017, jumped almost 60% from the corresponding period last year on strong growth in advertising revenues. MDIA posted 46% growth in sales revenues to Rp520.3 billion, significantly stronger than peers—-Media Nusantara Citra (MNCN) and Surya Citra Media (SCMA).

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Bukaka/Kalla Targets More Electricity Projects

Talking about Jokowi-Kalla’s signature 35,000 MW program, one should not focus on power generation projects only. There are hundreds of transmission and sub-station projects worth a combined US$19.2 billion, mostly handled by state-owned electricity firm PT Perusahaan Listrik Negara (PLN).

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Tower Bersama & Politics

Shares of Tower Bersama Infrastructure (TBIG), a company co-owned by Saratoga Group and Provident Capital, jumped to its high at Rp6,075 on April 25, 2017, few days after Anies Baswedan and Sandiaga Uno won Jakarta election. Since then, however, the stock retreated by almost 10% to Rp5475 today.

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Jasa Marga – Astra Deal on Semarang-Solo Toll Road

As reported earlier, Jasa Marga (JSMR) has on Wednesday (May 17) divested 15% shares in the Semarang-Solo toll road project to Astratel Nusantara. Upon completion of the transaction, Astratel’s ownership increased to 40%, while Jasa Marga declined to 58.91%. PT Sarana Pembangunan Jawa Tengah, a company owned by Central Java provincial administration, holds the balance of 1.09%.

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Hutchison in Indonesia

On the first week of May 2017, while on an official visit in Hong Kong, President Joko “Jokowi” Widodo met with several Hong Kong businessmen, including Li Ka-Shing, Asia’s richest man and the man behind Hutchison Whampoa Ltd conglomerates. The meeting was a follow up after the meeting held in April 2017, when the leaders of CK Hutchison Holding Ltd visited Indonesia.

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Anies-Sandi & Their Heavy Luggage (10): TOD Projects

Basuki Tjahaja Purnama (Ahok) signed Regulation No. 44/2017 about Transit-Oriented Development (TOD) before the court sentenced him two years prison in the blasphemy case. Ahok has also appointed companies owned by the city administration to develop the TODs along the routes of mass-rapid transit (MRT) and light-rail transit (LRT).

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Revisiting The Troubled Trikomsel

Trikomsel Oke (TRIO), once one of the largest ICT retailers in Indonesia, has finally released its audited financial statement for the period ended December 31, 2016. In the year, Trikomsel booked net sales of Rp1.72 trillion, crashed from Rp6.46 trillion in 2015. Net losses posted in the year lifted further the Company’s net equity deficiency to Rp6.81 trillion.

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Anies-Sandi & Their Heavy Luggage (9): Jakarta LRT Project

Then incumbent governor Basuki Tjahaja Purnama (Ahok) was mad when the so-called ‘transition team’ of elected governor and vice governor of Jakarta Anies Baswedan-Sandiaga Uno pushed for inclusion of their campaign programs in the revised 2017 budget of the city administration. One of Anies-Sandi’s targets is the lucrative light-rail transit (LRT) project in the city.

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PT Rockit Aldeway: Rock It All The Way!

Efforts from seven banks—-Mandiri, BNI, QNB Kesawan, Muamalat, Commonwealth, HSBC Group—-to recover their losses in PT Rockit Aldeway, reportedly owned by Harry Suganda—-former banker of HSBC Indonesia, hit another wall related to Rp1.02 trillion claim from Singapore-based Trillium Global Pte Ltd. State bank Mandiri believes Trillium Global is a fictitious creditor.

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