Indonesians praised Saudi Arabia’s decision to raise the country’s hajj quota from 168,000 to 221,000 this year, cutting down effectively the waiting time, which now reaches up to 15 years in some regions. Higher quota means business for airline, catering services, hotels, and, of course, tours and travel services. Other than hajj, number of Indonesians visiting Saudi Arabia for minor hajj pilgrimage (umrah) has steadily increased alongside improvement in purchasing power.

PT HM Sampoerna Tbk (HMSP), the largest company on Indonesia Stock Exchange (IDX) by market capitalization, booked net profit of Rp12.76 trillion last year or US$959 million, an increase of 23.1% from 2015. Accordingly, Indonesia operations contributed 13.8% to Philip Morris International Inc’s worldwide net profit last year (US$6.97 billion).

Pretty much as predicted, Salim Group has continued expansion in property business in Indonesia. Other than projects in the greater Jakarta, including those in Pantai Indah Kapuk in partnership with Agung Sedayu Group, the group embarks major expansion in Bintan Island, Riau Islands province.

Massive infrastructure development has attracted some investors to continue investing in Indonesian property and logistics. TB Simatupang area in South Jakarta, for example, has attracted more foreign investors in commercial property as progress of mass rapid transit (MRT) lifts prospect of the area. Fast growing e-commerce has also attracted more investments in logistics solution.

Shares of AKR Corporindo (AKRA) ended higher by 2% Monday (Mar 6) as investors responded positively the Company’s performance last year. While sales revenues dropped 23%, mostly due to falling revenues from fuel trading and chemicals manufacturing, AKRA booked net profit of Rp1.01 trillion, slipped only 2.2% from 2015.

Shares of PT Telkom Tbk (TLKM), the largest telecommunication company in Indonesia, opened higher by 1.3% Monday (Mar 6) as investors responded positively the Company’s solid performance last year. Telkom booked net profit of Rp19.35 trillion last year, an increase of 24.9% from 2015, thanks to strong sales revenue growth of 13.6% to Rp116.33 trillion. The current price reflects PE multiple 20 on 2016 earnings.

Multi Bintang Indonesia (MLBI), the largest beer player in the country, booked net profit of Rp982 billion last year, nearly doubled from 2015 due to normalized retail sales and growing tourism industry. The Company, controlled by Dutch beer company Heineken International BV, enjoyed 21% growth in net sales revenues to Rp3.26 trillion, while gross profit jumped by 32.3% to Rp2.15 trillion.

State-owned company Waskita Karya (WSKT) generated Rp218 billion of revenues from toll roads last year, skyrocketed from Rp31.8 billion in 2015 following commercial operation of Section I and II of Pejagan-Pemalang toll road under the trans-Java toll road program. Revenues from toll road will grow further with the Company’s plan to start commercial operation of Section III and IV of Pejagan-Pemalang in June.