Category: Business

Bakrie Group’s Graha Andrasentra Propertindo (JGLE), which is still a ‘Gocap stoc’ (Rp50), divested 51.44% equity interests in PT Jungleland Asia (JLA) to PT Adiprotek Envirodunia (AE), aiming to help JLA in restructuring its debt to creditors, mainly Bank Rakyat Indonesia (BBRI). AE purchased JLA shares at value of Rp251 billion.

Diversified energy firm Indika Energy (INDY) said its subsidiary, PT Indika Mineral Investindo (IMI), has on September 26, 2022 acquired PT Perkasa Investama Mineral (PIM), adding non coal assets. Indika opts to reduce exposure in coal, and targets the non coal sector to contributing 50% earning by 2025.

State-owned EPC firm Wijaya Karya (WIKA) is an interesting company to watch. The last quoted price of WIKA was Rp930 to make a market capitalization of Rp8.34 trillion, not even half of its equity (Rp17.4 trillion). 

The rupiah weakened toward Rp15,260 against the US dollar on Wednesday (September 28), the weakest level since April 2020, in line with the majority of other Asian currencies, as the dollar index hit a 20-year high after hawkish statements by the US Federal Reserve officials and reports that there was no possibility of a global deal to adjust currency values.

United Tractors (UNTR), subsidiary of Astra International (ASII) engaged in heavy equipment, mining contracting, coal and gold production, enjoyed a strong month of August in terms of heavy equipment sales, but lower sales...

Shares of e-commerce player Bukalapak.com (BUKA) gained 4.38% to Rp286 on Tuesday (September 27), but it has fallen 42.8% so far this year. At current price, BUKA is valued at Rp29.47 trillion. Retail investors’ appetite seems...

Against all odds, Indonesia recorded State budget surplus of Rp107.4 trillion or 0.58% by August 2022. What a turn from budget deficit of Rp383.2 trillion or 2.32% of GDP in the same month last year. Finance Minister Sri Mulyani...

State toll road operator Jasa Marga (JSMR) booked profit attributable to owners of Rp735 billion in the first half (H1) of 2022, declined 14% year on year (y/y), due to loss in financial assets. Revenues actually grew 8.7% y/y...

State cement maker Semen Indonesia (SMGR) announced that it will acquire 7.49 billion shares in small cement firm Semen Baturaja (SMBR), representing 75.51% enlarged capital, after president Joko ‘Jokowi’ Widodo signed...