Public Transportation Projects
The country has been waiting nearly 30 years to connect its largest airport to the city center. Optimism grows this time around with significant progress of land acquisition in the past few months. The country will also see its first light-rail transit (LRT) next year, three months ahead of initial schedule. The first mass-rapid transit (LRT) will follow in 2018 after 30 years of talk.
Gamaland’s Bet in Benoa Bay
PT Adhi Karya Tbk (ADHI), a state-owned EPC firm, has been granted around Rp750 billion worth of structure, architecture, and MEP contract from PT Properti Bali Benoa for the construction of Samana hotel and resort in Benoa Bay, Bali Island. Adhi Karya is given 510 days to accomplish the works.
Tanto Intim Line
Looks like that PT Tanto Intim Line, one of the largest shipping companies in Indonesia, continues to grow. This week, we saw advertisements in national media from its business partners, congratulating the group’s new office at Jl Yos Sudarso, North Jakarta. Tanto Intim is known based in Surabaya, East Java.
Jokowi’s Infrastructure Push
President Joko ‘Jokowi’ Widodo is expected to solve land issue for the Jakarta-Bandung fast train project at air force base Halim Perdanakusuma area in his scheduled visit today. The president has also asked minister of high education and research to set aside 400 hectares of land in Walini, which will be one of the transit station for the fast train, for expansion of Bandung Institute of Technology (ITB).
Revisiting Sampoerna-Soenarko’s Samko Timber
Samko Timber Ltd, SGX-listed company controlled by the families of Putera Sampoerna and Aris Sunarko, failed to impress market participants since its listing on the mainboard in February 2008. Years of losses forced the Company to report negative equity by September 30, 2016. The company has recently launched restructuring to streamline its operations.
Underreported Companies: Bernofarm
Bernofarm is pharmaceutical company famous for its over-the-counter brands like VitalongC (C Vitamin), Biolysin (multivitamin), and Starmaag (anti ulcerarnts). Late last week, WidodoSarwono (Tan Tjong Hing), the founder of Bernofarm, passsed away on November 19, 2016 in Surabaya, East Java.
Consolidation of Coal Shipping Industry
Baltic Dry Index, gauge of global shipment of bulk materials, gained 29% last week to 1257. That means the index surged 142% year-on-year to tracking iron ore and coal, which gained 32.4% and 100% year-on-year, despite recent corrections. While prospect of commodities remains uncertain, some investors have also speculated in the shares of shipping companies listed on Indonesia Stock Exchange.
Infrastructure Journal
Jokowi-Kalla administration has proven once again its ability to pull things off. Land acquisition for new airport in Yogyakarta, which delayed development for two decades, has progressed well. Minister of transportation Budi Karya Sumadi claims around 70% land for the new airport has been acquired.
ASTI Holdings & Backdoor Listing of Indonesian IPP Projects
ASTI Holdings is a small company listed on the Singapore Exchange (SGX) with total assets of S$139.4 million as at June 30, 2016. The Company has in late October announced a plan to acquire 55% shares of PT Cahaya Sakti, an independent power producer (IPP) with some power plant projects in Indonesia.
Speculations on Medco Energi
Medco Energi (MEDC) has acquired two big assets: shares in Batu Hijau gold & copper mine in West Nusa Tenggara from Newmont and Sumitomo and shares in Natuna oil and gas assets from ConocoPhillips. The combined acquisition consideration for these assets is around US$3 billion. As such, people continue to speculate on ownership change at Medco Energi.