Feb 24, 2016 | Industries, Market
As Indonesia’s economy slows down, retailer PT Matahari Department Store Tbk (LPPF) opts to cut its expansion for this year. In 2015, LPPF opened 11 new stores, but for 2016, the company is conservatively forecasting the opening of 6-8 new stores—the company...
Feb 24, 2016 | Industries, Market
Bank Mandiri (BMRI), the largest bank in the country in term of asset size, claimed that its growth remained on track even though the country’s economic development remained unclear. Inflation and current account deficit appear manageable. Core inflation...
Feb 24, 2016 | Industries, Market
SGX-listed chocolate producer Petra Foods Ltd reported a 19.5% drop in sales revenue to US$406 million in 2015, as sales revenue from Indonesia fell 22% while regional markets reported 13% decline in revenue. Indonesia contributed almost 70% of the total revenues in...
Feb 23, 2016 | Industries, News Group
The 2016 Social Media Week will be held in Jakarta from February 24 to 26. More than one hundred speakers will join the three-day event with the theme “The Invisible Hand: Hidden Forces of Technology and How We Can Harness It For Good”. Social Media Week is a global...
Feb 23, 2016 | Industries, Market, News Group
The Attorney General’s Office (AGO) has started an investigation into the case of alleged corruption involving the cooperation contract of PT Hotel Indonesia Natour (HIN), PT Citra Karya Bumi Indah (CKBI) and PT Cipta Karya Bersama (or Grand Indonesia). As of...
Feb 23, 2016 | Industries, Law
The former employees of PT Merpati Nusantara Airline (Persero) (Merpati) may have to wait longer before they can receive their salary from Merpati. On February 22, 2016, the bankruptcy lawsuit that former Merpati employees against the Company should’ve entered...
Feb 23, 2016 | Industries, Reviews
SGX-listed Bumitama Agri Ltd, co-owned by Malaysian IOI Corp and Indonesian Harita Group, booked net profit of Rp890 billion last year, declined by 22.8% from 2014 due to falling prices of crude palm oil (CPO). The Company, interestingly, reported stronger performance...
Feb 23, 2016 | Industries, Reviews
PT Semen Indonesia (SMGR) Tbk booked net profit of Rp4.52 trillion last year, down 18.7% from 2014 due to weaker sales growth and squeezed margins. SMGR reported stronger results in the fourth quarter, but not enough to cover slowdown in the first nine months of 2015....
Feb 23, 2016 | Industries, Reviews
China Shenhua Energy Co Ltd and China Coal Energy Co Ltd came up with surprising sales data for January 2016. Baramulti Suksessarana (BSSR), meanwhile, recorded net profit of US$23.4 million last year, skyrocketing from US$2.54 million in 2014 on improved margins....
Feb 23, 2016 | Industries, Market
The Financial Services Authority (OJK) urges national banks to improve efficiency and to reduce overhead cost in a bid to lower loan interest rate ahead of the Southeast Asia Economic Society (MEA) for banking sector in 2020. For the mid term, OJK hopes that overhead...
