Category: Market

Shares of herbal producer Sido Muncul (SIDO) were flat at Rp550 Friday (Mar 14) to make a market capitalisation of Rp16.5 trillion (US$1 billion). The company reported yet another strong year in 2024 for all of three business segments.

The Software as a Service (SaaS) industry continues to grow rapidly in Indonesia, including in the human resource (HR) management sector. Companies are increasingly shifting from traditional, manual, or on-premise HR systems to cloud-based solutions that offer greater flexibility and efficiency. This shift not only creates opportunities but also challenges for various HR digital service providers competing in an increasingly saturated market.

Shares of palm plantation company Sawit Sumbermas Sarana (SSMS) surged by 9.67% to Rp1,645 Thursday (Mar 14) as investors responded positively the company’s financial performance for full year 2024.

Asian markets might soon follow the Wall Street, which ended lower grounds Thursday (Mar 13) due to the escalated trade wars instigated by US President Trump. The Dow Jones Industrial Average (DJIA) ended down 1.3%, while Nasdaq composite collapsed nearly 2%. 

Minister of finance Sri Mulyani Indrawati has finally released status of the State Budget 2025 on Thursday (Mar 13). Pretty much as predicted, the State revenues dropped significantly by 21% year-on-year, while spending slipped 7% in the first two months of the year. The state budget recorded deficit of 0.11% against surplus of 0.11% in the corresponding period last year.

The alleged corruption case in the procurement of advertisements at Bank Pembangunan Daerah Jawa Barat dan Banten (BJBR) once again highlights serious issues in the governance of regional-owned enterprises (BUMD). KPK has named five suspects, including former President Director of BJB Bank, Yuddy Renaldi, in connection with alleged price markups in the advertising procurement project, which resulted in state losses of IDR 222 billion.

PT Medela Potentia Tbk, a company controlled by the family of Soetikno (owner of Dexa Medica, one of the largest pharmaceutical players in the country), is offering 3.5 billion shares in the initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The company can get as much as Rp805 billion from the IPO.

Soft candy producer PT Yupi Indo Jelly Gum plans to list and trade shares in the Indonesian Stock Exchange (IDX), seeking to raise as much as Rp2.13 trillion.

Shares of GOTO Gojek Tokopedia recovered 3.75% to Rp83 Wednesday (Mar 12) as investors responded positively the company’s financial performance for full year 2024. The tech company reported some improvements last year, whilst not enough to justify its current valuation.

Shares of Duta Intidaya (DAYA), operator of Watsons personal care retail outlets, dropped 5% to Rp960 this morning despite strong financial performance reported last year. Watsons, controlled by HK-based CK Hutchison, is among retailers continue to expand.