Bauxite miner Cita Mineral Investindo (CITA) booked Rp556.85 billion of net profit in the first nine months of 2018 against loss of Rp102 billion in the corresponding period last year. That means CITA, controlled by Harita Group, recorded Rp246 billion of net profit in third quarter alone.
Read MoreFood processor Mayora Indah (MYOR) used cash of Rp838 billion for acquiring fixed assets including advance of purchase of fixed assets in the first nine months (9M) of 2018, compared to Rp412 billion used in 9M of last year. It also spent Rp1.48 trillion in operating activities.
Read MoreAgung Podomoro Land (APLN) booked a net profit of Rp309 billion in the first nine months (9M) of 2018 (a 43% drop from Rp541 billion in the corresponding period of 2017). Revenues fell 30.3% to Rp3.8 trillion, and operating profit declined 39% to Rp1.04 trillion.
Read MoreState-owned Waskita Karya (WSKT) reported a 48% drop in net profit from Rp1.38 trillion profit in Q3 of 2017 to Rp713 billion in the third quarter (Q3) of 2018. The drop in profit is mainly due to a 10% year on year (y/y) rise in cost of revenues (Rp11 trillion vs Rp10 trillion). WSKT revenues was flat at Rp13 trillion.
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Like Lippo Group, Sinarmas is under the spotlight related to bribery case implicating one subsidiary of its plantation business in Central Kalimantan. In the meantime, SmartFren (FREN), the telecommunication unit, reported net loss of Rp2.5 trillion in Jan-Sep 2018, which cut further its equity to Rp6.76 trillion, while liabilities jumped to Rp18.8 trillion.
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