Energy and chemical firm ESSA Industries Indonesia (ESSA), formerly Surya Esa Perkasa, reported revenue of US$345.0 million in 2023, a decrease of 53% year on year, primarily driven by lower commodity prices and a scheduled ammonia plant maintenance shutdown that was undertaken in the first quarter (Q1) of 2023. ESSA’s EBITDA reached US$123.3 million, a decrease of 65% y/y.
Read MoreShares of gold mining firm Bumi Resources Minerals (BRMS), co-owned by Bakrie and Salim Group, fell 3.95% to Rp146 on Friday last week (February 2), to make market capitalization of Rp20.70 trillion. The stock fell further by 4.11% to Rp140 on Monday, way below target price by some brokerage firms, amid persistent concern over the geopolitic issue and high interest rate.
Read MoreWTI crude futures fell further toward US$72 per barrel on Friday and are on track for an over 6% weekly drop due to fading expectations of immediate interest rate cuts in the largest global economy, influenced by U.S. jobs data, Tradingeconomics.com reported. Indonesia, meanwhile, is set to record highest investment commitment in the past seven years.
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