The Corruption Eradication Commission (KPK) is still investigating the case of alleged bribery involving the Central Jakarta District Court’s Registrar Secretary (Pansek) Edy Nasution. But to date, the KPK has not provided more information regarding the case.
Read MoreState coal producer PT Tambang Batubara Bukit Asam (PTBA) Tbk posted net profit of Rp332.6 billion in the first quarter of 2016, down slightly from Rp340.3 billion in the corresponding period of last year, but mainly due to 37% jump in income tax expenses. Overall, the Company reported a strong quarter amidst significant fall of thermal coal prices.
Read MorePrecast concrete producer WIKA Beton (WTON), subsidiary of Wijaya Karya (WIKA), booked net profit of Rp50.24 billion in the first quarter of 2016, nearly tripled from corresponding period of 2015 as sales revenues jumped 71%. Acceleration of infrastructure projects helped the Company significantly in the period.
Read MoreRosneft CEO Igor Ivanovich Sechin was introduced to energy and mineral resources minister Sudirman Said by Dwi Sutjipto, CEO of state-owned oil and gas company Pertamina, in Jakarta Wednesday (Apr 27), less than one month before President Joko ‘Jokowi’ Widodo is scheduled to visit Russia for the Russia-ASEAN Summit.
Read MoreChandra Asri Petrochemical (TPIA), the largest chemical company in Indonesia, booked net profit of US$35.3 million in the first quarter of 2016, skyrocketing 1214% from the corresponding period of 2015, thanks to falling oil prices. Coal producer Resource Alam Indonesia (KKGI) also enjoyed stronger margins in the quarter despite falling thermal coal prices.
Read MorePT Hero Supermarket Tbk (HERO) posted net loss of Rp35.4 billion in the first quarter of 2016, expanded slightly from the corresponding period of 2015 due to falling sales. IKEA, which recorded double-digit growth, failed to save HERO.
Read MorePT Nippon Indosari Corpindo (ROTI) Tbk, market leader for bread, posted net profit of Rp86.3 billion in the first quarter of 2016, an increase of 30% from the corresponding period of 2015, thanks to stronger sales revenue growth. Improved purchasing power?
Read MoreSix months has passed since the last time the Province Government of Jakarta declared they were ready to relocate the residents of Bidaracina, East Jakarta for the construction of the Ciliwung Waterway Tunnel. But to date nothing has been done. Residents of Bidaracina chose to take the fight to court. The proceedings of the class action lawsuit filed in July 2015 is still on-going. On April 25, 2016, the Jakarta State Administrative Court (PTUN Jakarta) granted the administrative lawsuit filed related to the determination of location of the inlet for the Ciliwung Waterway project.
Read MoreCrude oil futures rose half a dollar in early Asian trading on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although analysts warned this month’s bull-run could soon run out of steam, Reuters reported. Nymex’s crude oil rose 1.2% to US$44.58 per barrel in Asian trading this morning. A weak dollar, in which crude is traded, makes fuel imports cheaper for countries using other currencies at home, potentially spurring demand.
Read MoreThe case of alleged forgery of land documents filed by PT Bank Central Asia Tbk (BCA) against Jakub Sugiarto Sutrisno and two of his legal counsel Timotius Tumbur Simbolon and Jemmy Mokolensang has reached the finish line. In the hearing on April 25, 2016, the panel of judges at the South Jakarta District Court declared both advocates guilty.
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