Shares of Felda Global Ventures Holdings Berhad crashed 8.6% in Kuala Lumpur Monday (June 15) morning after its trading resumed by authorities. Shares of Eagle High Plantation (BWPT), where Felda Global would have 37% shares, also retreated in Jakarta.
Read MoreInvestigation into the murder of Sawit Watch activist Jopi Peranginangin has led to one arrest. J.L., who’s an active-duty navy soldier, has been named as suspect in Jopi’s murder. As a soldier, J.L. will be tried at the military court. The Military Police investigation team of the Navy Main Base (POM Lantamal) III has held a reenactment of the murder on June 11, 2015. Results will be submitted to military prosecutors.
Read MoreAfter almost three months of back-and-forth process with the House of Representatives (DPR), President Joko ‘Jokowi’ Widodo has last week signed three government regulations to implement the capital injection into state-owned construction firms Adhi Karya (ADHI), Waskita Karya (WSKT), and Hutama Karya.
Read MoreEconomic slowdown hit both car and motorcycle sales. We all know about that. But, PT Nipress Tbk, producer of battery for both cars and motorcycles, is one of few companies reporting double digit growth in the first quarter of 2015. Its sales revenue and gross profit grew 14.8% and 22.8% each.
Read MoreThe former Chief Justice of the Constitutional Court Hamdan Zoelva recently said that there have been worrying developments in the Supreme Court (MA) related to the implementation of procedural law in the appeal process. This concern, we may assume, refers to the figure of Justice Artidjo Alkostar. For those convicted of corruption, Justice Artidjo is bad news. Artidjo is known to often aggravate sentences at the appeal process, especially if it’s a corruption case. His latest “victim” is the former Chaiman of the Democratic Party Anas Urbaningrum.
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President Joko ‘Jokowi’ Widodo spent two whole days on Friday and Saturday to deal with toll roads and sea toll projects in Java and Sumatra. He officially kicked off operation of Gempol-Pandaan toll road in East Java on Friday and Cikampek-Palimanan in West Java Saturday morning. The President then flew to Lampung, southern tip of Sumatra to inspect the trans-Sumatra toll road project.
Read MoreState-owned ammonia and urea producer PT Pupuk Kaltim is scheduled to conduct demonstration and performance test for its new factory, built with US$638 million of investments, later this month until second week of July.
Read MoreTired of depressing news about economic slowdown, weakening of rupiah, and downfall of composite index? Well, looks like there are lot more good news coming out recently. President Jokowi, for example, has granted free visa for 45 countries, 30 more from the previous regime.
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Remember in early 2013 when Dahlan Iskan, then minister of state-owned enterprises, was questioned by East Java police over the crash of a prototype electric car. Dahlan, driver of the locally produced car called Tucuxi, admitted to violating traffic regulations, but the Police released him from charges. Just when we think the episode of Tucuxi ended with Dahlan’s term in the cabinet, the Attorney General’s Office questions Dahlan over an alleged corruption in the project.
Read MoreFelda Global Ventures Holdings Berhad, the world’s largest palm oil producer, has agreed to become strategic partner of Rajawali Corpora (controlled by tycoon Peter Sondakh) in Eagle High Plantation (BWPT). Felda pays a premium of almost 76% to Thursday’s closing price.
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