Corporations to Watch: TPMA & HATM
Shares of sipping firm Trans Power Marine (TPMA) gained 1.47% to Rp690 on Friday last week (May 24), to make market capitalization of Rp1.82 trillion, higher than its equity of Rp1.57 trillion per March 31, 2024. The stock, however, declined 4.16% so far this year. as investors concern on the Company’s earning outlook.
Coal Journal
Shares of coal miners were traded volatile so far this year along with the fluctuation of coal price, which fell 10.44% but has rebounded from its lowest in February 21, 2024. Supply-demand balance, especially in China, remains an issue to watch in the coming months.
Further consolidation at XL-LINK
Shares of fixed broadband operator Link Net (LINK), subsidiary of XL Axiata (EXCL), ended flat Rp865 on Wednesday (May 22) to make a market capitalisation of Rp2.48 trillion. That means LINK, which is part of the so-called fixed-mobile convergence (FMC) program, has lost 82% its value paid by XL Group about two years ago.
Corporations to Watch: ELSA & DSSA
Shares of oil and gas service firm Elnusa (ELSA) declined 0.45% to Rp440 on Wednesday (May 22), to make market capitalization fo Rp3.21 trillion, lower than its equity of Rp4.6 trillion (March 31, 2024). The stock has gained 11.67% so far this year, supported by its positive development on earnings.
Revisiting Saratoga
Shares of investment firm Saratoga Investama Sedaya (SRTG), owned by Sandiaga Salahuddin Uno and Edwin Soeryadjaya, gained 1.97% to Rp1,555 on Tuesday (May 21), to make market capitalization of Rp21.09 trillion. The stock lost 5.2% so far this year, but rebounded from its lowest at Rp1,360 in late April.
Those continue to expand
Property developer Pratama Abadi Nusa Industri (PANI), a joint venture between Agung Sedayu Group and Salim Group, is seeking funds for strengthening its capital structure (capex) to support the business development. PANI, as of today, is the largest property developer listed on the Indonesia Stock Exchange (IDX) by market capitalisation (Rp87.5 trillion), more than four times of BSD City (BSDE).
A Musk (3)
More pictures came out from Elon Musk from the sidelines of World Water Forum in Bali Island. Anindya Bakrie from Bakrie Group posted some pictures of him accompanying president elect Prabowo Subianto in a dinner on Sunday (May 19). Anin, whose group is handling BYD electric bus in Indonesia, was sitting right next to Rosan P Roeslani, chairman of Prabowo-Gibran’s campaign team.
Corporations to Watch: PYFA & IMPC
Shares of pharmaceutical firm Pyridam Farma (PYFA) ended substantially higher by 7.7% to Rp112 on Monday (May 21) to make a market capitalisation of Rp1.26 trillion following reports about acquisition of Australia-based company.
The 2025 Budget
Minister of Finance Sri Mulyani Indrawati declared that the 2025 State budget and spending (APBN) or the first term of President-elect Prabowo Subianto’s government was designed to have a deficit in the range of 2.45% to 2.82% of gross domestic product (GDP).
The troubled PP Properti
Property developer PP Properti (PPRO), subsidiary of state-owned EPC firm PT Pembangunan Perumahan Tbk (PTPP), is another company needing special attention from the new administration of Prabowo-Gibran.