Category: Market

Corporations to Watch

Bakrie Kalila Investment reduced its ownership in oil and gas firm Energi Mega Persada (ENRG), as it recently sold 559 million ENRG shares. Currently, Bakrie Kalila holds 51.97% ENRG shares, reducing from the previous 54.22%....

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Industry Update

The manufacturing sector expanded with imports in August 2021 jumping 74.20%, dominated by raw materials, boosting the productivity of the domestic industry. Import capital goods also rose, reflecting growing demand in the...

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Market & Economy

Global stock markets closed mixed on Wednesday (September 15), with United States (US) stocks gaining further boosted by a 3% jump in oil prices while a slew of economic data somehow stabilized sentiment. On Wednesday, the...

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Corporations to Watch

Textile giant Sri Rejeki Isman (SRIL), or Sritex, held bondholders or creditors meeting on Tuesday (September 14), demanding approval for 90 days extension of the Suspension of Debt Payment (PKPU). Some 110 creditors attended...

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Revisiting Chandra Asri

SCG Chemicals Company Limited, a subsidiary of Siam Cement Group, has purchased 1.16 billion new shares of petrochemical giant Chandra Asri Petrochemical (TPIA) for Rp4,082 per share, or Rp4.73 trillion in total. SCG purchased TPIA’s new shares to maintain its ownership at 30.57%.

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Market Snapshots

Global stock markets were mixed on Tuesday (Sept. 14). All three major United States (US) stock indexes ended in the red, continuing their recent pullback despite the latest data showing a slowdown in US consumer price inflation. The monthly inflation rate in the US eased to 0.3% in August, the lowest in 7 months, a sign inflation probably peaked and will now slowly retreat, in line with Federal Reserve (Fed) forecasts. 

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Corporations to Watch

AKR Corporindo (AKRA), the largest distributor of fuel in the private sector, allocates capital expenditure (capex) of US$15-20 million for the JIIPE Gresik special economic zone (SEZ) in East Java. For the past five years, the...

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Palm Journal

Malaysian palm oil futures have been trading around MYR 4,300 per ton in September, below a record high of MYR 4,560 per ton in August, amid prospects of growing supply from the two world’s largest producers Indonesia and...

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Market Snapshots

Global stock markets gained on Monday (Sept. 13) with United States (US) stocks rebounding as traders expect the passage of US President Joe Biden’s $3.5 trillion budget package, which is expected to include a proposed...

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Corporations to Watch

State construction firm Wijaya Karya (WIKA) said capital expenditure (capex) of Rp6.9 trillion is allocated for funding its new business in the airport sector, partnering with PT Angkasa Pura I and Incheon International Airport Corporation. In the consortium of A1-IIAC-WIKA, WIKA has share ownership of 19%, Incheon 30%, and Angkasa Pura I 51%. So, WIKA would prepare Rp170 billion capex for said business. WIKA will then be involved in airport management, including terminal renovation, also cargo management for Hang Nadim airport in Batam for 25 years.

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First Half Results of Telco 

SmartFren (FREN), telco operator controlled by Sinarmas Group, performed the best in the first half (H1) of 2021 as it reported a strong 15.1% growth in sales revenues (Rp4.95 trillion) in the said period, compared to peers Indosat Ooredoo (ISAT) and XL Axiata (EXCL). 

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Market This Week

The United States (US) and the United Kingdom (UK) are releasing key inflation reports this week. Investors are looking forward to seeing if the recent price pressures show any signs of abating amid the economic growth slowdown. Important data to follow include retail sales and industrial production figures from the US and China, employment reports from the UK and Australia, and foreign trade data for the Eurozone and Japan.

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