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Mining Tax Mystery

In a conference on "Beneficial Ownership Transparency", the Corruption Eradication Commission (KPK) said that 24 percent of the mining companies operating in Indonesia are unidentified and thus they never pay their taxes. The KPK said that these anonymous companies have incurred a combined tax debt of Rp23 trillion.

Business

Delisting of Berau Coal & Inovisi

The Indonesia Stock Exchange (IDX) has finally on Monday (Oct. 23) delisted shares of coal miner Berau Coal Energy (BRAU), along with Inovisi Infracom (INVS), Permata Prima Sakti Tbk (TKGA) and Citra Maharlika Nusantara Corpora (CPGT). BRAU skipped releasing financial informations in the past three years. Prolonged suspension of stock trading prevented investors from enjoying the strong coal price in the past 13 months.

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Delta Dunia Reports 16.22% Drop in Coal Production

Coal miner Delta Dunia Makmur (DOID) reported a 16.22% drop in coal production in September after recording high record production in August. DOID, trough its unit Bukit Makmur Mandiri Utama (BUMA) produced 3.1 million tons of...

PP Presisi Sets IPO Price at Rp430-550 per Share

PT PP Presisi, unit of state-owned construction firm PT PP Tbk (PTPP), has set its IPO price at Rp430-550 billion. It plans to offer 4.24 billion shares, representing 35% of its total issued and paid-up capital. PP Presisi...

Govt Raises Rp8.9 Trillion from Retail Bond

The Government has raised additional Rp8.9 trillion from issuing retail bonds (series ORI014) used to support the budget financing for this year. The bond offered during Sept 29 to Oct 19, 2017. This bond offered annual coupon...

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Profiles

Property Player to Watch: Stareast Group

Stareast Group, as described by its website, is an Indonesian based private investment firm engaged in various industries such as real estate, hospitality, asset management, transportation, and retail businesses. The group is also partner of Tommy Soeharto (Humpuss Group) in developing Pecatu Indah Resort project, a resort complex in the south of Bali Island with 400 ha of areas. Who’s behind?

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