Apr 22, 2016 | Industries, Market
PT Telekomunikasi Indonesia (TLKM) Tbk, the largest telecommunication operator in Indonesia, booked net profit of Rp4.52 trillion in the first quarter of 2016, increased significantly from Rp3.79 trillion in the corresponding period of 2015. Telkom recorded net sales...
Apr 22, 2016 | Industries, Law
The insolvency proceedings of PT United Coal Indonesia has entered a new phase. The supervisory judge is said to have endorsed the company’s bankruptcy documents since March 29, 2016. A number of the company’s assets—properties and shares in other companies—were...
Apr 22, 2016 | Industries, Market
The Jakarta Commercial Court is set to announce the decision on the debt restructuring over giant coal miner PT Bumi Resources Tbk (BUMI) in April 25, 2016, claimed by Castleford Investment Holdings Ltd amounting US$54.38 million. Both parties had amended the debt...
Apr 22, 2016 | Industries, Market, News Group
On Thursday (April 21), the central bank (Bank Indonesia/BI) decided to hold its benchmark BI Rate at 6.75%, while maintaining the Deposit Facility and Lending Facility rates at 4.75% and 7.25% respectively. In line with the plan to reformulate its policy rate, as...
Apr 22, 2016 | Industries, Market, News Group
Asian shares slid from a 5 1/2-month high on Friday as disappointing earnings from U.S. blue chip companies looked set to pour cold water on the rally that took off in March, Reuters reported. The composite index of the Indonesia Stock Exchange (IDX) touched the 4,900...
Apr 21, 2016 | Industries, Market
XL Axiata, the third largest cellular operator in Indonesia, booked net profit of Rp169.3 billion in the first quarter of 2016 against loss of Rp767 billion in the corresponding period of 2015, mostly due to non-cash Rp471.9 billion gain in foreign exchange...
Apr 21, 2016 | Industries
The Energy and Mineral Resources Ministry (ESDM) revealed that exploration period for contractors would be extended (while affecting no sharing of profits or returns during the yet-to-recover oil prices) as per the Government Regulation (PP) Number 35/2004 regarding...
Apr 21, 2016 | Industries, Market, News Group
Today the central bank (Bank Indonesia/BI) will decide on its benchmark BI Rate policy, whether to keep the rate at the current 6.75% level or to cut it further down. BI has recently launched a new instrument called the BI 7-Day Repo Rate, which has shorter tenor and...
Apr 20, 2016 | Industries, Market
President Joko ‘Jokowi’ Widodo met CEO of major companies based in the United Kingdom during his visit to the country, promising total business deal of US$19.02 billion, including US$1.2 billion contract between Garuda Indonesia and Rolls Royce. Some are...
Apr 20, 2016 | Industries, Market
Shares of global metal producers continued their rally worldwide Wednesday (Apr 20) as steel industry seems to consolidate further. Anglo American advanced 5% in London, while Freeport McMoRan opened higher by 1.8% in New York. Rio Tinto also gained 3.24% in London,...
