Matahari Department Stores (LPPF) booked net profit of Rp2.02 trillion last year, an increase of 13.4% from 2016. Matahari Putra Prima (MPPA), on the other hand, reported net profit of Rp7 billion only, crashed 83% from 2015. MPPA’s sales revenue slipped 2% to Rp13.5 trillion last year, while LPPF posted 9.9% growth to Rp9.9 trillion.

Indonesian Automotive Industry Association (Gaikindo) was upbeat with sales of cars in the first two months of 2017, which grew 5.8% from the corresponding period of 2016. Time will tell as to whether this year’s sales would beat the association’s growth projection of 3-4%. Sales of heavy equipment/construction machinery also jumped significantly in the first two months of 2017, lifted by demand from mining sector.

PT Fast Food Indonesia (FAST) Tbk, operator of Kentucky Fried Chicken outlets, booked net profit of Rp173 billion last year, jumped 64% from 2015. The Company was more aggressive last year with 32% increase in acquisition of fixed assets to grow its outlets.

Indofood Sukses Makmur (INDF), the largest food company in Indonesia, booked net profit of Rp4.14 trillion last year, jumped by almost 40% from 2015, but mostly due to substantial decline in finance costs. The group’s sales revenues grew only 4.2% last year with even weaker growth of 2.2% in the last quarter of 2016.

PT Tower Bersama Infrastructure (TBIG) Tbk, co-owned by Saratoga Group and Provident Group, reported 8.5% growth in sales revenues to Rp3.7 trillion last year, thanks to double digit growth from Telkomsel, subsidiary of state-owned PT Telkom Tbk (TLKM). TBIG’s growth was smaller than Sarana Menara Nusantara (TOWR), controlled by Djarum Group, which grew 13.1% to Rp5.05 trillion because of acquisition of towers from XL Axiata.

President Joko ‘Jokowi’ Widodo kicked off development of trans-Sumatra toll road program about two years ago with the construction of the long 141-KM Bakauheni-Terbanggi Besar turnpike. Progress was pretty slow in the beginning with construction progress of 1.2% by March 19, 2016. As of March 17, 2017, however, nearly 26% has been built.

Physical construction of 10 low-cost apartment towers in Kemayoran, Jakarta, which will also be used as dormitory for athletes participating in next year’s Asian Games in Jakarta and Palembang has reached 66% as of this week. The apartments (7,428 units) will be completed gradually in June, July, and August 2017. The Rp3.4 trillion project will be able to accommodate around 22,000 people from low-income group or those to be relocated from slum areas in the capital city.

Flag carrier Garuda Indonesia (GIAA) booked net profit of US$8.1 million last year, crashed by 88% from 2015 due to a combination of factors, including the airline’s reluctance to streamlining operations and revamp the fleet management. Garuda failed to benefit from 18% fall in fuel costs due to persistent high cost of aircraft rental & charter, maintenance and overhaul, user charges and station, and finance cost.

Shares of Latinusa (NIKL), market leader for tinplates in Indonesia, advanced further this morning to make it one of the most expensive stocks on Indonesia Stock Exchange (IDX). Shares of Mandom Indonesia (TCID), key player in personal care market, meanwhile, were flat with thin trading volume.

Tough market has forced ceramic producer PT Intikeramik Alamasri Industri Tbk (IKAI) to suspend its production. Lyman Group, meanwhile, has recently expanded production capacity with US$70 million of investment. Arwana Citramulia (ARNA), another ceramic producer listed on Indonesia Stock Exchange (IDX), reported net profit of Rp90.48 billion last year, jumped approximately 30% from 2015 on strong sales growth.