Category: Uncategorized

On the Corruption in the Ministry of Religious Affairs: The Trials

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.

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Yan Bin’s Reignwood & Bakrie Group

Some 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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The Lucky EXCL Finds Desperado SUPR?

Tower Bersama Infrastructure (TBIG) acquired 2500 towers from Indosat (ISAT) in mid 2012 for US$406 million when rupiah was Rp9400/USD or about Rp1.52 billion per tower. Two weeks ago, Solusi Tunas Pratama (SUPR) acquired 3500 towers from XL Axiata (EXCL) for Rp5.6 trillion or Rp1.6 billion per tower. Some believe the latest deal benefits EXCL more than SUPR. Why?

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BTEL & FREN: Merger?

PT Smartfren Telecom Tbk (FREN) and PT Bakrie Telecom Tbk (BTEL) have proposed to the ministry of information and communication to share the 800 MHz radio frequency spectrum, which could lead into the merger of both entities, Bisnis Indonesia reported this morning. Bloomberg, meanwhile, reported few hours ago that BTEL and affiliates were sused in New York state court by investors, who claim the company breached its contract involving a $380 million bond issue.

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Telkom’s Endless Maneuver in Tower Business

Almost all online media published statements from Honesti Basyir, CFO of Telekomunikasi Indonesia (TLKM), on Wednesday saying ‘Telkom wants to be the largest player in tower business,” and that to reach the target Telkom will acquire the largest tower company in Indonesia. These are misleading statements!

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