State-owned EPC firm Waskita Karya (WSKT), which has been tasked to develop some toll roads and implicated in series of corruption cases, reported net loss of Rp2.16 trillion in the first half of 2024 despite improvements in gross profit margins.
Read MorePT Pupuk Indonesia Holding Company (PIHC), parent of state-owned fertilizer companies, booked a record Rp11.9 trillion of net profit in the first half ended June 30, 2022, skyrocketed from Rp2.68 trillion in the corresponding...
Read MoreSoutheast Asia sees a rise of new COVID-19 cases. Thailand has logged over two thousand cases in the past five days. Its capital city Bangkok is the epicenter of the new wave of infection. Malaysia has also struggled with new cases hovering in the four digits, with officials suspecting things to get worse. In the Philippines, hospitals are reportedly overwhelmed after over nine thousand new cases were reported on Monday.
Read MorePresident Joko Widodo asked the Ministry of Industry to examine an expanding and deepening luxurious tax for motorized vehicles with cylinders more than 1,500 cc, with a local component of a minimum of 70%. Last month, the Country launched a relaxation to the automotive industry to recover the economy.
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On March 15, 2019, the Corruption Eradication Commission (KPK) conducted a sting operation and arrested several people, including Romahurmuziy (Rommy), the chairman of the United Development Party (PPP). A day after the operation, the KPK named Rommy as one of the suspects. Until a few weeks ago, Rommy insisted that he was not involved in the case. In the first hearing of the trials of the bribers held on May 28, 2019, we learned more details of the case from the Prosecutors indictments.
Read MoreMitra Investindo (MITI) spinned off its granite mining segment, managed by PT Bintang Mahkota Sukses (BMS), to PT Sanmas Mekar Abadi (SMA). MITI has recently signed agreement with PT Indelberg Oil Indonesia (formerly PT Benakat...
Read MorePT Bank Tabungan Negara (BTN) Tbk (BBTN) targets to set up two units or subsidiaries this year through acquisition and setting up joint venture (JV) entities. The new entities will engage in multifinance business. BBTN is set to...
Read MoreMinistry of foreign affairs confirmed Saturday (August 13) that Johannes Marliem, key witness of e-KTP corruption case, died in Los Angeles Thursday morning. US authorities have reportedly confirmed identity of Marliem to Indonesian Embassy in Washington DC, but provided no further detail. His death leaves behind a big mystery.
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The Election Bill is still being discussed at the House of Representatives (DPR). The fate of the presidential threshold is at the heart of it. Both President Joko “Jokowi” Widodo and Vice President Jusuf Kalla are interestingly a part of the same chorus; asking for the current presidential threshold to be maintained.
Read MoreSome continued speculative trading in shares related to Bakrie Group, which is seen in huge trading volume and volatility. Average trading volume of Bumi Resources (BUMI), the largest coal producer in Indonesia, for example, was 722 million shares per day in the past three months as thermal coal hovers above US$80 per ton. Average trading volume in Energi Mega Persada (ENRG), the oil and gas producer, was 561 million shares per day in the period.
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