PLN recorded sales revenue growth of 3.15% to Rp104.7 trillion in the first half of 2016, thanks to stronger growth outside Java. Kalimantan, Sulawesi, Nusa Tenggara, Maluku & Papua grew significantly higher than Java.

State-owned oil and gas company Pertamina has signed agreement with Repsol for the construction of Treated Distillate Aromatic Extract (TADE), an additive for the production of rubber for tires, at Pertamina’s refinery complex in Cilacap, Central Java. PT Kaltim Methanol Industry (KMI), the largest methanol producer in Indonesia, meanwhile, plans US$900 million for the expansion of capacity.

AKR Corporindo (AKRA)—currently has market value of US$2 billion—is among losers with year-to-date loss of 7% even though the Company’s fundamentals were pretty strong in the first half. In fact, AKRA’s operating profit margin jumped 35.5% in the period, despite 28.3% fall in revenues due to downfall of oil prices. How about the group’s property business?

Cement sales in Sumatra Island grew 17.6% to 1.36 million tons last month, the highest in the country, thanks to faster development of toll roads and other investments. In the first eight months of 2016, cement sales in the island grew 8.8% to 8.4 million tons, almost matching combined consumption in Jakarta and West Java.

Shortfall in revenues might have forced the government to cut further its expenditures. Some infrastructure projects might also be affected. But, there are lots of financing alternatives available, including loans from regional development banks, sharia banks, state agencies managing public funds, and multilateral agencies like Islamic Development Bank (IDB).

Shares of Tempo Inti Media (TMPO), publisher of Tempo magazine, Koran Tempo newspaper, and tempo.co online news, might be among the best performing stocks with 121.7% gain year-to-date. The Company’s fundamentals, however, worsened significantly in the first half of 2016.

Indonesian steel industry players complain about manipulation of import of steel products from China. They demand more protection from the government. Recent reports from the World Steel Association about growing output in China might alarm domestic players even more.

Synthesis Development is one of the fastest growing property players in the country with projects in the range of hundreds of billion to trillions of rupiah in some cities. Like peers, the group expects windfall from the tax amnesty program. Who’s behind?

PT Sekar Bumi (SKBM) Tbk, member of Sekar Group, has kicked off the issuance of up to 2.3 billion new shares to represent 71.06% of the total paid-up shares after the rights issue. The Company expects to raise Rp1.265 trillion to finance acquisition and investment in some assets.