Trimegah Securities, one of brokerage firms in Indonesia owned by tycoon Garibaldi ‘Boy’ Thohir, organized a conference called ‘Political Outlook 2024’ on Wednesday (Jan 31). The conference is more like a campaign arena for Prabowo Subianto, the only president candidate giving speech. It was also attended by Boy’s younger brother Erick Thohir, who is minister of state-owned enterprises.
Read MoreAgainst all odds, amidst downfall of profit margins, coal miner Harum Energy (HRUM), which has invested more in nickel industry in the past few years, has acquired more shares in PT Westrong Metal Industry (WMI), a company engaged in the nickel processing.
Read MoreDomestic demand of steel is now subject to continuation of the ambitious new capital city (IKN) Nusantara project because it is currently the single largest market. Outcome of February 14 election, accordingly, defines future demand of the commodity.
Read MoreThe most recent survey result from LSI Denny JA (if we can trust) shows that the electability of Prabowo Subianto and his running mate Gibran Rakabuming Raka has reached above 50 percent for the first time. The pollster also found Ganjar Pranowo and his running mate Mahfud MD at the bottom with an electability slightly below Anies Baswedan-Muhaimin Iskandar. Looks like that this is part of an effort to seal the race in one round, avoiding a runoff that might turn against Prabowo-Gibran instead.
Read MoreWe know that the past several years were tough for PT Garuda Indonesia (Persero) Tbk (GIAA), but perhaps the problems will be over soon. The flag carrier finally was able to catch some breath in 2022 after they managed to resolve the debt restructuring process (PKPU) with a peace agreement, although there was a small obstacle. Two of the company creditors, Greylag Goose Leasing 1410 Designated Activity Company and Greylag Goose Leasing 1446 Designated Activity Company attempted to apply for the cancellation of the peace agreement, which ultimately failed. At the same time, lawsuits filed against Garuda Indonesia in other countries also failed. Garuda Indonesia then decided to file a lawsuit against the two creditors, however, Greylag Goose refused to surrender. The two companies filed lawsuits in the beginning of 2023, still seeking for cancellation of the peace agreement. This week we learned that the attempt once again failed.
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