A More Aggressive Jasa Marga
Shares of state-owned toll road developer and operator PT Jasa Marga Tbk (JSMR) gained 3.6% Thursday (Apr 27) as investors responded positively the Company’s performance in the first quarter, when its net profit jumped 34% to Rp547 billion, while sales revenues soared by 72.2% to almost Rp5 trillion.
Those Continue to Expand Here
President Joko ‘Jokowi’ Widodo has inaugurated new car manufacturing facility of PT Mitsubishi Motors Krama Yudha Indonesia (MMKI) at GIIC Industrial Estate, Bekasi, West Java yesterday. Built with 60 billion yen of capital, the new plant has a production capacity of 160,000 units per annum.
Anies-Sandi & Their Heavy Luggage (3): Alcohol Game
Anies Baswedan and Sandiaga Uno, winner of Jakarta election, plan to start their term in October 2017 with divestment of the city administration’s shares in beer producer PT Delta Djakarta Tbk (DLTA). This clearly an opportunity to those have long targeted ownership in Delta Djakarta, a very profitable company with net profit of Rp254 billion last year, jumped by 33.2% from 2015.
Trans-Java & Trans-Sumatra Toll Roads So Far (2)
Not all smooth, of course. Toll road projects in big cities like Jakarta and Bandung continued to confront the classic land acquisition issues. Commercial operation of Bekasi-Cawang-Kampung Melayu (21 KM) toll road in the greater Jakarta area, for example, is behind initial schedule set by President Jokowi (March 2017). The first section (8KM), however, should be ready for commercial operation in the coming weeks after 22 years of delay.
Trans-Java & Trans-Sumatra Toll Roads So Far
Losing key ally in Jakarta triggered some to speculate about Jokowi’s chance in 2019 election. But, even if he won’t be reelected, the President will be remembered for his aggressive push in the development of toll roads in Java, Sumatra, Kalimantan, and Sulawesi. Legacy is not about how long someone in strategic position, but something handed down from one generation to the next.
Strong Q1 for Astra
Astra International (ASII) reported a strong first quarter 2017. Its net profit jumped 63.5% to Rp5.09 trillion as sales revenues increased by 16.5% from the corresponding period last year. With the exception of IT and infrastructure & logistics, other business segments reported strong growth in the period.
Infrastructure Journal No. 15/2017
After more than four decades of delay, physical construction of Umbulan water pipeline in East Java has finally been started last week. Construction is scheduled for completion in two years time with total investment of Rp2.3 trillion. In the meantime, the government has geared up development of Section W2 (6KM) connecting the newly inaugurated Tanjung Priok Port access toll road and the inner city toll road.
US-Indonesia Trade Ties
Indonesia booked non oil and gas trade surplus of US$884 million with the United States of America last month, jumped 37.5% year-on-year. In the first three months of 2017, the trade surplus expanded 32.8% to US$2.7 billion. What would be the impact of US President Donald Trump’s order to investigate potential trade abuse allegedly committed by Indonesia?
First Quarter Trade Briefs
Indonesia booked trade surplus of US$1.23 billion last month, jumped 143% year-on-year, thanks to 23.6% growth in export revenues, while import increased by 18.2%. In the first quarter of 2017, trade surplus reached US$3.93 billion, skyrocketed by 137% from the corresponding period of 2016 as export grew 20.8%, while import increased by 14.8%.
Business Alliance: Sariaatmadja + Jack Ma
PT Elang Mahkota Teknologi (EMTK) Tbk, controlled by Sariaatmadja family, has on Monday, April 10, established joint venture company with API (Hongkong) Investment Limited, a company owned by Alibaba Group of Jack Ma. API holds 39% shares in PT Elang Andalan Nusantara, an indirect subsidiary of EMTK.