Revisiting Delta Djakarta
Shares of beer producer Delta Djakarta gained 2.73% to Rp5650 per share this morning as investors welcomed the planned 26.25% stake divestment by DKI Jakarta Government. The stock has gained 23% year to date.
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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.
Read MoreFY17 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.
Read MoreCorporate 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.
Read MoreCost Cutting & Refund of Excise Penalty Boost Multi Bintang’s Profit
Beer producer PT Multi Bintang indonesia (MLBI) Tbk booked net profit of Rp920.7 billion in Jan-Sep 2017, jumped by 35.6% from the corresponding period last year, thanks to lower costs. The market leader actually reported only 1.6% increase in sales revenue to Rp2.33 trillion, but cost of goods sold declined 1.33% to Rp793.97 billion.
Read MoreJakarta 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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