Kamadjaja Logistics, controlled by the family of Hura Kamadjaja, is one of the largest logistic companies in Indonesia, providing services to consumer goods giants like Unilever, Indofood, Garudafood, Sosro, Orang Tua, Nestle, P&G, etc. One private equity firm has reportedly entered the group.

PT Sumber Alfaria Trijaya (AMRT) Tbk, operator of Alfamart convenience stores, booked net profit of Rp602 billion last year, an increase of 33.4% from 2015 despite slower year-on-year growth in the last quarter of 2016. The Company, interestingly, reported 16.2% growth in sales revenue even though number of new outlets grew only 11%.

Finance minister Sri Mulyani Indrawati, minister of public works & housing Basuki Hadimuljono, and chief of the Toll Road Authority (BPJT) inspected construction of Bawen-Salatiga section of Semarang-Solo toll road Friday (Feb 17). At the same time, in Jakarta, President Joko ‘Jokowi’ Widodo witnessed financial closing of the so-called Non-State Budget Investment Financing (PINA) to accelerate the trans-Java toll road project.

Tolak Angin and Antangin JRG are the most popular herbal remedy for the common cold in Indonesia. Tolak Angin is product from Sido Muncul (SIDO), which is listed on Indonesia Stock Exchange (IDX) with market capitalization of Rp8.55 trillion (US$643 million), about 3.3 x equity as at Sept 30, 2016.

President Joko ‘Jokowi’ Widodo held a special cabinet meeting about acceleration of development in East Nusa Tenggara (NTT) province Thursday (Feb 16). Other than development of infrastructure to support agriculture and fisheries, which make up 30% of the province’s GDP, Jokowi instructed faster development of infrastructure to support tourism industry.

Indonesia booked trade surplus of US$1.4 billion in January 2017, jumped by 33.4% from December 2016 and skyrocketed from US$14 million only in January 2016. Higher average prices of commodities contributed to US$1.93 billion of surplus in non oil and gas, while higher volume of import resulted in expanded deficit in oil and gas.

Hutama Karya, state-owned EPC firm assigned by the government to develop the trans-Sumatra toll roads, reported stronger performance of Medan-Binjai toll road in North Sumatra. Physical construction of Section III has reached 95.45% by February 10, 2017, while land acquisition in Section I has shown good progress.

Frequent rainfall in the past few weeks might have slowed down construction of some infrastructure projects, causing lower cement sales in January year-on-year. Overall, however, we see progress in mass transportation projects (MRT, LRT, skytrain), ports, airports, and toll roads.