Shares of Indosat (ISAT) ended lower by 2.6% on Tuesday (Jul 30), but market leader Telkom (TLKM) dropped deeper by 5.6% on weaker financial performance in the first half of 2024. Indosat, second largest player, has actually closed gap in some key indicators following a merger with Hutchison Three.
Read MoreState-owned mining company Aneka Tambang (ANTM) booked net profit of Rp1.55 trillion in the first half of 2024, down from Rp1.89 trillion in the corresponding period of 2023. Non-cash foreign exchange gain of Rp576 billion against loss of Rp319 billion in the first half of 2023 prevented ANTM from reporting deeper correction in bottomline.
Read MoreTwo days after the Military Commander (Panglima TNI) General Agus Subiyanto instituted a job rotation, the Chief of the National Police (Kapolri) General Listyo Sigit Prabowo also instituted a rotation which affected 157 high-ranking police officers. This rotation is worth highlighting because General Sigit made changes into some provincial police chiefs (Kapolda), including the Central Java Police Chief Ahmad Luthfi, who will run in this year’s Central Java gubernatorial race as a governor candidate.
Read MoreSo, shares of Barito Renewables (BREN) ended lower by 2.3% on Monday (Jul 30), while Pertamina Geothermal (PGEO) gained 1.6% on modest financial improvements in the first half of 2024. PGEO was worth Rp53.3 trillion, 1/20 of BREN despite their similar business size.
Read MoreIn the previous instalment of the article, we’ve mentioned some names of potential candidates for the replacement of Sri Mulyani Indrawati in Prabowo-Gibran’s cabinet. Recently, Purbaya Yudhi Sadewa, who is known as Luhut Binsar Pandjaitan’s guy, has also been tipped as another potential candidate for the next Minister of Finance.
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