Financial year 2016 treated Peter Sondakh, one of Indonesia’s tycoons, not quite well, at least in the context of his companies listed on Indonesia Stock Exchange (IDX). Plantation firm Eagle High Plantation (BWPT), for example, reported net loss of Rp391 billion, skyrocketed 117% from 2015, while deal with Felda Group yet to be completed.

MNC Sky Vision (MSKY), market leader in cable TV business, yet to release its full year 2016 results. Financial report of other players, however, suggesting more pressures to MSKY, which is indirectly controlled by businessman and politician Hary Tanoesoedibjo.

Beer producer Delta Djakarta (DLTA), co-owned by San Miguel and Jakarta government, booked net profit of Rp254 billion last year, an increase of 33.2% from 2015. The company’s sales revenue grew only 5.4%, substantially smaller than market leader Multi Bintang Indonesia (MLBI), which posted 21% growth.

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.