Higher production and sales volume compensated correction of crude palm oil (CPO) price in the third quarter of 2022. As a result, Indonesian planters reported decent profitability in the quarter. Astra Agro Lestari (AALI), one of the largest planters, for example, booked Rp407 billion net profit in the quarter alone, whilst lower than average profit in the first two quarters.
Read MoreSo far so good. Shares of taxi operator Blue Bird (BIRD) jumped 8.3% to Rp1,490 on Friday (Oct 26) to make market capitalization of Rp3.73 trillion. Still, Blue Bird, which reached its peak at Rp12,000 in early 2015, is valued way below equity, despite a strong recovery in bottom lines.
Read MoreState electricity utility PT Perusahaan Listrik Negara (PLN) posted net profit of Rp15.94 trillion in the first nine months of 2022, jumped from Rp12.39 trillion in the corresponding period last year, but this was attributable to 187% surge in compensation and 12.7% increase in subsidies from the government.
Read MoreDato’ Low Tuck Kwong, controlling shareholder of Bayan Resources (BYAN), should be among the cash-rich persons in the country with US$1 billion of dividend payment made in the first nine months of 2022, skyrocketed from US$300 million in the corresponding period last year. We don’t know what Dato’ Low will do with the cash, but politicians might be interested to get a ‘share’.
Read MoreAnies Baswedan, who has secured nomination as president candidate in 2024 from NasDem Party, has visited Islamic boarding school Genggong in Probolinggo (East Java) and Ar Raudhah, Surakarta (Central Java) this week. Some see this as an early ‘campaign’, of course. He is not alone. Prabowo Subianto, who might be Anies’ competitor in the race, visited Genggong earlier in April.
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