Month: September 2024

Will Megawati Surprise Everyone Again?

We all see more and more signals from the key leaders of PDIP, including Puan Maharani, that the Party might join Prabowo Subianto’s administration. Despite of the obvious signals, however, we cannot discount the possibility that Megawati Soekarnoputri, the matriarch of PDIP, might surprise everybody with her final say. Megawati did it before, and she might do it again.

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The State Revenue Agency (BPN)

Burhanuddin Abdullah, chief of the board of experts at Prabowo-Gibran campaign team, told media on Wednesday (Sep 25) that Prabowo will establish the State Revenue Agency (BPN), which actually spinning off ministry of finance’s director generals for taxation (DJP) and customs & excise (DJBC). 

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Steel industry update

Steel price recovered slightly Wednesday as market participants responded positively new incentives from China and reports about lower output in some major producing countries. Still, the key construction and machinery material is way below the same period last year.

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Revisiting Tunas Baru Lampung 

Unlike FAP Agri (FAPA), Tunas Baru Lampung (TBLA), a producer of palm oil, biodiesel, and sugar controlled by Oey Family (Sungai Budi Group), is now valued way below equity. TBLA shares ended slightly higher by 0.8% to Rp655 on Wednesday (Sep 25) to make a market capitalisation of Rp3.99 trillion. 

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The Overvalued FAP Agri

Shares of PT FAP Agri Tbk (FAPA), a plantation firm controlled by Fangiono Family, ended flat at Rp5,300 on Wednesday (Sep 25) to make a market capitalisation of Rp19.24 trillion, substantially bigger than Astra Agro Lestari (Rp12.9 trillion) and Salim Group’s London Sumatra Plantation (Rp7 trillion).

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