Stocks to Watch

Shares of newly-listed Indah Prakarsa Sentosa (INPS) gained 50% to Rp414 on its trading debut on Friday last week (April 6), from its IPO price of Rp276. The Company, engaging in wholesale, distribution and logistics services provider of fuel, lubricant, and LPG, offered 650 million shares through the initial public offering (IPO), raising Rp41.4 billion proceeds. Its market capitalization reached Rp179.4 billion.

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FY17 Corporate Results

Beer producers continued to report higher profit whilst a more retricted distribution in the country. Cable manufacturers, meanwhile, reported mixed results despite optimism in the government’s 35,000 MW program.

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Corporate Results

State-owned construction firm Adhi Karya (ADHI) reported a 78% jump in net profit for the first nine months (9M) to September this year as revenues rose 53% to Rp8.7 trillion. Operating profit surged 168% to Rp765 billion. Revenues from construction services jumped 66% to Rp7.79 trillion.

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Jakarta Gubernatorial Race & The Future of Beer Producer Delta Djakarta

So, Agus Yudhoyono, son of sixth president SBY and candidate of Jakarta governor, was ‘surprised’ to know that Jakarta government owns shares in beer producer PT Delta Djakarta Tbk (DLTA), which is majority owned by San Miguel (the Philippines F&B giant). He was asked about the shares when addressing the issue of alcoholic beverages in the capital city.

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