Category: Reviews

Salim Group’s Water Business

Shares of Moya Holdings Asia Ltd surged by 9.6% to $0.08 Monday. That means Moya has gained more than 100% since Salim Group subscribing 1.4 billion new shares in the Company last year. At the last quoted price, Moya has market capitalization of S$224 million, nearly twice its equity (S$123 million by Dec 31, 2016).

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Revisiting Kalla’s Bukaka & Chevron

Bukaka Teknik Utama (BUKK), a company controlled by the family of Vice President Jusuf Kalla, booked net profit of Rp65 billion last year, an increase of 11.2% from 2015. The stock might not be attractive due to low trading volume, but the company’s growth deserved attention because of its political network.

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Hutchison in Indonesia: Next?

President Joko ‘Jokowi’ Widodo is scheduled to welcome leaders of CK Hutchison Holdings Ltd, one of the world’s leading port investor, developer, and operator, at the State Palace this afternoon. CK Hutchison is member of Hutchison Whampoa Ltd, a conglomeration controlled by Asia’s richest man Li Ka-shing, which has wide-range of operations in Indonesia.

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Bakrie, Mitsubishi & Glencore

PT Bakrie & Brothers (BNBR) Tbk, an investment company controlled by Bakrie Family, booked net loss of Rp3.6 trillion last year, doubled from 2015, and, accordingly, widened its capital deficiency to Rp6.05 trillion. Because liabilities down only slightly to Rp12.6 trillion, BNBR’s total assets eroded further to Rp6.6 trillion, half the size two years earlier.

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Pertamina vs Petronas: Financials

Elia Massa Manik has been confirmed new chief executive officer of state oil and gas company Pertamina yesterday. He will manage a company with liabilities of US$25 billion and total assets of US$47.23 billion, which is almost one-third the size of Petronas (US$136 billion). Last year, Pertamina booked net profit of US$3.15 billion, jumped by 121.6% from 2015 even though sales revenues fell 12.6%.

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Hari Darmawan Heats Up Bakery Market

Indonesia’s bakery market has long been dominated by Salim Group-backed Nippon Indosari, which is famous with its Sari Roti brand. Alfa Group, owner of Alfamart convenience store, and some others, however, have stepped up their challenge. The latest is a joint venture controlled by modern retail pioneer Hari Darmawan.

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Rumours on Apexindo & Elnusa

Apexindo Pratama (APEX), an oil and gas supporting services company, suffered net loss of US$7.35 million in the first half of 2016 as sales revenues collapsed 51.2% to US$71.3 million. Elnusa (ELSA), another supporting services company, on the other hand, booked net profit of Rp145 billion, an increase of 9.2% from the same period of 2015, while sales revenues slipped only by 5.1% to Rp1.71 trillion (US$132 million).

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New Nickel Smelter Starts Commercial Operation in Obi Island, North Maluku

Nickel returned to US$10250/ton in London Metal Exchange (LME) last Friday after dropping to below US$10,000 earlier due to negative sentiments from possible relaxation of mineral ore exports by Indonesian government. Nickel stockpile in LME continued to decline to its new low, supporting the price. But, even if the export ban will be kept, nickel supply from Indonesia is poised to grow in the coming months.

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