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People on the Move

The Chairman of Golkar Party Airlangga Hartarto has made Bobby Rizaldi Adhityo the acting chairman of Golkar’s South Sumatera provincial chapter to replace Dodi Reza Alex Noerdin, the regent of Musi Banyuasin (Muba) who was named graft suspect by the Corruption Eradication Commission (KPK). The Chief of the National Police (Kapolri) General Listyo Sigit Prabowo, meanwhile, appointed Insp. Gen. Suntana as the acting chief of the National Police’s Intelligence & Security Body (Baintelkam POLRI).

Business

Corporate Actions & Results

Unilever Indonesia (UNVR), the market leader for home and personal care, booked a net profit of Rp4.38 trillion in the first nine-month (9M) to September of 2021, declining 20.4% year on year (y/y). Net sales declined 6.2% y/y to Rp30 trillion in said period this year. Operating profit fell 18.3% y/y to Rp5.8 trillion. Sales of home and personal care products reached Rp20.05 trillion while foods and refreshment sales reached Rp9.97 trillion.

QUICK UPDATES

B.I. Holds Key Rates

The Bank of Indonesia held its key 7-day reverse repurchase rate unchanged at an all-time low of 3.5% on October 19th 2021, as expected. The overnight deposit facility and lending facility rates were also left unchanged at 2.75%...

WTI Extends Gains at 7-Year High

Oil prices built on their eighth weekly gain, with WTI crude hovering at 7-year highs around $83 a barrel as traders evaluate the energy crunch roiling markets and falling temperatures in China. The OPEC+ alliance has been...

Gold Rises on Dollar Weakness, Bond Yield Pause

Gold rose 0.5% to above $1,770 an ounce on Tuesday amid a general dollar weakness and as U.S. benchmark yields paused their ascent. The U.S. dollar index fell 0.2% against a basket of currencies, weighed down by weak U.S....

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Profiles

Hiskak Secakusuma passes away

Businessman Hiskak Secakusuma, co-founder of Metropolitan Group, one of the largest property groups in Indonesia, has passed away on Friday, October 15 at 84 years old. The group’s flagship company is the IDX-listed PT Metropolitan Land Tbk, a company with total assets and equity of Rp6.03 trillion and Rp4.1 trillion respectively by June 30, 2021.

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