Shares of nickel producer Merdeka Battery Materials (MBMA) ended substantially lower by 4.8% to Rp438 on Tuesday (Jul 1) as investors responded negatively the company’s financial performance in the first quarter, which was only released June 30. MBMA, co-owned by Garibaldi ‘Boy’ Thohir, older brother of Erick Thohir (minister of state-owned enterprises), reported slightly lower net profit of US$3.5 million in the quarter. To subscribe please click here
