Revenues from nickel sales surged 192% to US$1.33 billion last year, but Merdeka Battery Materials (MBMA) posted gross profit of US$77.5 million only, an increase of 74.5% from 2022. The nickel producer suffered more in the fourth quarter due to falling prices in international market on oversupply from Indonesia and softened demand.
Read MorePresident-elect Prabowo Subianto attended a Ramadan gathering event held by the Democratic Party at the St Regis Hotel on Wednesday (Mar. 27). In the event, the sixth President Susilo Bambang Yudhoyono (SBY), also known as the supreme leader of Democratic Party, delivered his wishes to Prabowo. Among those wishes, one that is worth highlighting is about the country’s election.
Read MoreIn the last few days, President-elect Prabowo Subianto attended some Ramadan gathering events held by political parties within his coalition. These events are worth highlighting in the context of Prabowo’s relationship dynamics with not just members of the coalition but also with the outgoing President Joko “Jokowi” Widodo and his son, Vice President-elect Gibran Rakabuming Raka.
Read MoreShares of MD Pictures (FILM), a production house, ended higher by 4.6% to Rp4,580 on Wednesday (Mar 27) even when the company reported 40% fall in net profit last year. At the last quoted price, MD Pictures was traded with PE multiple 458, one of the most overcooked stocks in the market.
Read MoreShares of Amman Mineral Internasional (AMMN), parent of gold and copper miner PT Amman Mineral Nusa Tenggara (AMNT), ended lower by 0.86% to Rp8,600 on Wednesday (March 27) as investors digesting financial results in 2023. We anticipate further correction to reflect fair value of this company.
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