Mahaka Radio Integra (MARI), which operates radio stations in Jakarta and Surabaya, proves that people remain loyal to the radio, despite the growing use of gadgets and social media. Its financial performance earned higher valuation by investors than the famous print media Tempo Inti Media (TMPO).

Growing online and social media continue to challenge traditional and print media. Tempo Inti Media (TMPO), publisher of Tempo magazine, Koran Tempo newspaper, and tempo.co news portal, for example, booked net loss of Rp13.6 billion last year against profit of Rp2.6 billion in 2015 due to falling sales revenues and squeezed margins.

PT SmartFren Tbk (FREN), telco operator, booked net loss of Rp1.97 trillion last year, expanded from Rp1.57 trillion in 2015, forcing Sinarmas Group to dig deeper its pocket. FREN did report the strongest revenue growth (+20%) among telco operators last year, but the Company’s operating loss also expanded to Rp1.98 trillion.

Some companies reported stable and stronger performance last year despite slowdown of the economy. Second largest cigarette producer Gudang Garam (GGRM), for example, reported net profit growth of 3.7% only, but pharmaceutical company Kalbe Farma (KLBF) managed to grow its profit by 14.8%. Retailers ACE Hardware and Mitra Adiperkasa also reported strong bottomline. Altogether, these companies paid more corporate income tax to the State last year.

Partnership between Indofood CBP Sukses Makmur (ICBP) and Asahi has entered the fourth year of business in the non-alcoholic beverages market. Last year, ICBP recorded Rp1.67 trillion of sales revenues from beverages segment with segment loss of Rp336 billion. In the previous year, ICBP recorded sales revenue of Rp1.84 trillion from beverages with segment loss of Rp330.9 billion.

Shares of Blue Bird (BIRD) advanced 3.56% Thursday (Mar 30) as investors responded positively the official launching of partnership with Go-Jek Indonesia even though the conventional taxi services posted almost 20% fall in revenues in the fourth quarter of 2016 (year-on-year). The presence of high-profile figures in the launching of Go-Bluebird services might also lead to various interpretations.

Jokowi-Kalla administration is determined to improve public infrastructure, including access roads to tourism destinations in North Sumatra, West Sumatra, and other areas in Sumatra, home to over 50 million people. Construction of toll roads under the trans-Sumatra program also progressed well despite difficulties in land acquisition. In the meantime, hopes for construction of rail tracks in Kalimantan Island are revived with the President’s new regulation.

Jokowi-Kalla’s signature 35,000 MW program, Palapa Ring fiber optic project, and expansion of fiber-to-the-home (FTTH) by various business groups might have contributed to strong performance of cable manufacturers last year. PT KMI Wire and Cable Tbk, controlled by Gajah Tunggal Group, for example, posted 190% jump in net profit. Voksel Electric (VOKS), meanwhile, booked net profit of Rp160 billion against less than Rp1 billion in 2015.