KPB Nusantara, the joint marketing office of state plantations, withdrew all of five CPO packages (7000 tons) auctioned off Monday (May 9) due to low bids. The benchmark July contracts of CPO, however, jumped RM33 to RM2661 per ton on the Bursa Malaysia Derivatives.
Read MorePT Charoen Pokphand Indonesia Tbk (CPIN), the largest feed producer in Indonesia, reported a 77.1% growth in net profit to Rp307 billion for the first quarter (Q1) of 2016 period, as revenues rose 22.7% to Rp9.2 trillion. CPIN also recorded foreign exchange (forex) gain of Rp152 billion, against forex loss of Rp266 billion in Q1-2015. The company has cash and cash equivalent of Rp1.28 trillion.
Read MoreGolkar Party’s chairman candidates will begin their campaign in the campaign Zone I covering Sumatra before continuing to the two other zones. How will Golkar’s relationship with President Joko “Jokowi” Widodo affect the race?
Read MoreStatistics Indonesia (BPS) chairman Suryamin expects the economy to grow by more than 5% this year. The economy only grew by 4.92% year on year in the first quarter of 2016, slowed compared to 5.04% growth in the fourth quarter of 2015. But the growth is expected to be higher in the coming quarters this year.
Read MoreThe process of Suspension of Debts Payment (PKPU) for PT Trikomsel Oke Tbk (TRIO) is still ongoing. In mid-April 2016, not long after four directors of TRIO resigned, the panel of judges of the Commercial Court of the Central Jakarta District Court approved an extension of TRIO’s PKPU for 60 days (until June 2016). TRIO is reportedly set to sell its entire ownership of one of its subsidiaries: PT Global Teleshop Tbk (GLOB).
Read MoreThe race has begun. Eight chairman candidates will compete in Golkar Party’s extraordinary congress (Munaslub). Who will win the race and what will happen to the Golkar Party?
Read MoreOn April 28, 2016 the Supreme Court granted the Public Prosecutor’s appeal against Irianto MS Syafiuddin (Yance) the former Regent of Indramayu tried for his involvement in graft in the procurement of land for the construction of Steam Power Plant (PLTU) Sumuradem in Indramayu, West Java. Yance was previously acquitted by the Corruption Court in Bandung and sentenced to 4 years in prison.
Read MoreMalaysian company Kulim Sdn Bhd has agreed to extend the closing of the transaction to acquire 60% equity interest in PT Citra Sarana Energi (CSE), which holds oil and gas block in Sumatra, for another six months to November 6th, 2016.
Read MoreToday, trading at IDX resumes. The market closed on Thursday and Friday last week due to public holidays. The composite index of the Indonesia Stock Exchange (IDX) gained 0.2% to close at 4,822 Wednesday last week (May 4), but regained from its lowest at 4765. Asian stocks were subdued early on Monday after a disappointing U.S. jobs report raised questions about the underlying strength of the world’s biggest economy, while crude oil prices soared on supply woes stemming from wildfires in Canada, Reuters reported. Crude oil rose 2.7% to US$45.50 per barrel in Asian trading.
Read MoreBank Mega (MEGA), controlled by tycoon Chairul Tanjung, booked net profit of Rp301 billion in the first quarter of 2016, dropped by almost 20% from the corresponding period of 2015 as its net non-performing loan (NPL) increased by 18.9%. The bank’s total assets also declined 2.9% due to substantial fall of third party time deposits in the bank.
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