Danny Nugroho is another exception
Shares of Capital Financial Indonesia (CASA), controlled by Danny Nugroho, ended lower by 0.37% to Rp1,330 on Thursday (Apr 2). That means the stock declined only by 15.3% since late January, while other junk stocks have retreated by more than 50%.
Mass (quiet) layoffs (17)
Financial report of state steel manufacturer PT Krakatau Steel Tbk (KRAS) pointed to ‘dismissal’ of 815 workers or 20% of the company’s total workforce last year as the company struggled with squeezed margins.
Inside cigarette excise cartel
The latest investigation by the Corruption Eradication Commission (KPK) into alleged bribery within the Directorate General of Customs and Excise is not merely another corruption case. It is a window into a deeper, more troubling reality: the possibility of a structured, cartel-like system governing Indonesia’s cigarette excise regime.
When AI steals your identity
The artificial intelligence race has entered a new and unsettling phase. It is no longer about who can generate the most accurate text or solve the most complex problems. It is about who can sound the most human—and increasingly, who can sound exactly like you.
Krakatau Steel yet to see the light
State-owned steel manufacturer Krakatau Steel (KRAS) recorded net profit of US$325.5 million last year against loss of US$155 million in 2024, but that was attributable to non-cash gain from debt restructuring. The company’s operations actually worsened.
From maps to markets
Terralogiq promote artificial intelligence and geospatial data as the future of business expansion, the narrative is compelling: smarter decisions, lower risks and precision down to the last meter.
Indocement & Cemindo ‘improved’, Semen Indonesia ‘worsened’
Cement industry, no doubt, remains under pressure due to lower government investments in infrastructure and weaker purchasing power for property products. Three major cement manufacturers listed on the Indonesia Stock Exchange (IDX) were forced to dismiss over 1,000 workers last year.
The undervalued Kalbe Farma
Shares of Kalbe Farma (KLBF), the largest pharmaceutical company listed on the Indonesia Stock Exchange (IDX), ended higher by 3.2% to Rp970 Tuesday (Mar 31). At the last quoted price, however, Kalbe Farma was traded with PE multiple 12 only, way below market average.
Gudang Garam’s ‘layoffs’
Shares of Gudang Garam (GGRM), the second largest cigarette producer behind HM Sampoerna (HMSP), ended higher by 3.1% Tuesday (Mar 31) as the company reported 59% jump in net profit to Rp1.56 trillion last year.
Alfamart & KDMP’s numbers
Shares of Sumber Alfaria Trijaya (AMRT), operator of Alfamart convenience stores, ended substantially higher by 5.34% Tuesday (Mar 31) as investors responded positively the company’s performance in 2025. The stock, however, has lost 53% from its peak in October 2024, when Prabowo administration rolled out a plan to develop over 80,000 outlets of cooperatives in the villages (KDMP).