Crude palm oil (CPO) has just touched its new low at US$648 per ton in Rotterdam on Monday (January 19), the lowest since late July 2009. Depreciation of rupiah and Malaysian Ringgit, however, helped CPO producers in Indonesia and Malaysia in the past few months.
Read MoreVolatility remains in the energy market as Nymex crude oil dropped 5.26% to US$46.13 per barrel in New York few hours ago. Shares of coal producers were dragged down accordingly, led by Arch Coal and Peabody Energy, which fell 7.32% and 2.13% respectively. Spot coal from Newcastle, Australia, meanwhile, collapsed 5.2% to US$58.6 per ton late last week, the lowest price since June 2007.
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Yangtze Optical Fibre and Cable Joint Stock Ltd, a company listed on the stock exchange of Hong Kong (HKSE) with market capitalization of HK$4.2 billion, has decided to enter Indonesian market.
Read MoreLeading retail food brand manager and franchisor, Retail Food Group Limited, has become one of significant players in Indonesian F&B market with the acquisition of global business and intellectual property assets of Gloria Jean’s Coffees for a total consideration of $179.9 million last year.
Read MoreComposite index of the Indonesia Stock Exchange (IDX) closed flat on Monday (Jan 19), only inched up 0.07% to 5152 and trade was volatile. Cement stocks were still the focus of sell-off following the government’s decision to cut cement price by Rp3000/bad produced by state cement maker PT Semen Indonesia Tbk (SMGR).
Read MoreSona Petroleum and Salamander Energy Ltd have on Monday (January 19) terminated the sales and purchase agreement (SPA) for the US$281.2 million acquisition of 40% interest in the B8/38 oil and gas block in Thailand.
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With the sole National Police Chief nominee Budi Gunawan under the investigation of the Corruption Eradication Commission (KPK), and now that Chief Sutarman has been discharged from his position, the Deputy Police Chief Badrodin Haiti is the one commanding the National Police. This awkward situation has inspired some controversy, but the public seems to prefer the awkwardness more than having the graft suspect Budi Gunawan as the National Police Chief. The question now: Who’s going to end up being permanently appointed Police Chief?
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Financial statement of Bumi Resources, controlled by Bakrie Group, for the period ended September 30, 2014, which has just been released to public yesterday, pointed to US$895 million of liabilities due to the Government of Indonesia. BUMI also recorded tax liabilities (short-term) of US$270 million, jumped US$100 million in nine months of 2014. What the new administration has done?
Read MoreOn Monday (Jan. 19), the Jakarta-based Institute for Policy Analysis of Conflict (IPAC) released a report on the “Support for Islamic State in Indonesian Prisons”. According to the report, the Indonesian Islamic State supporters are a minority in the group of convicted terrorists in Indonesian prisons.The prison staff members have successfully limited the spread of hardline ideology under their watch. But an obstacle remains, a convicted terrorist could be encouraged to join IS if his family is tangled up in financial problems.
Read MoreState-owned oil & gas company, PT Pertamina (Persero) is going to involve Total E&P Indonesia in managing the Mahakam Block. CEO of Pertamina Dwi Soetjipto said that Total would remain a partner in the Mahakam Block to maintain the block’s continued operation.
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