Revisiting Gajah Tunggal & Peers
Gajah Tunggal (GJTL), tire producer controlled by tycoon Sjamsul Nursalim, reported sales revenue growth of 12.2% in the first half of 2016, significantly better than Multistrada Arahsarana (MASA) and Goodyear Indonesia (GDYR), two other tire producers listed on Indonesia Stock Exchange (IDX). Multistrada reported 6.5% fall in sales revenue, while Goodyear Indonesia inched up 0.7% in the same period.
Marthen Amtiran & Kupang Manganese Smelter
ASX-listed company Gulf Manganese Corporation (GMC) Ltd informed market participants Friday (Aug 5) that it has entered into a binding term sheet with Marthen Amtiran for the investment of US$10 million in Gulf’s Indonesian-based subsidiary PT Gulf Mangan Group. Who is Amtiran?
Q&A with Waskita Karya CEO
Waskita Karya (WSKT) is among vehicles used by President Joko ‘Jokowi’ Widodo to achieve his ambitious target of completing trans-Java toll road and some toll road projects outside Java by 2018-2019. Compared to other state EPC firms, Waskita Karya was the most aggressive, which can also be seen in 380% jump in cash used for investing activities in the first half of 2016. To get better understanding about the company’s projects and plans, we hereby highlight Q&A during Thursday’s public expose and doorstop interviews.
Bright Spots in First Half: Cable Manufacturers
Upon reading financial statements of six cable manufacturers listed on Indonesia Stock Exchange (IDX), we can safely conclude that cable was the bright spot in manufacturing sector for the first half of 2016. They enjoyed strong growth, thanks to investments in telecommunication and, most importantly, power transmission projects from PT Perusahaan Listrik Negara (PLN).
Revisiting CMNP and Nusantara Infrastructure
Shares of Nusantara Infrastructure (META) surged by 14.17% Thursday (Aug 4) with substantial trading volume as investors responded positively the Company’s performance in the first half, when it posted net profit of Rp109 billion, jumped 55% from the corresponding period of 2015.
Intermedia Capital/ANTV: Tax Liabilities Grows Further
PT Intermedia Capital (MDIA) Tbk, parent of PT Cakrawala Andalas Televisi, operator of terrestrial TV station ANTV, booked net profit of Rp223.9 billion in the first half ended June 30, 2016, jumped 60% from the corresponding period of 2015, thanks to stronger sales revenue growth of 14.6% in the period.
Tangguh’s Train 3: What to Expect?
Construction of the third liquefaction facility in Tangguh LNG, West Papua in October is the major investment story in Indonesia’s oil and gas infrastructure amidst lacklustre development of oil refinery projects. Other than creating jobs for tens of thousand people during construction, the project paves the way for development of power plants under 35,000 MW program and gas-based industries in Bintuni, West Papua.
Corporate Actions: Sari Roti and Indofood
Nippon Indosari (ROTI) and Indofood CBP (ICBP) are two of the largest food and beverage producers—-all associated to Salim Group—-in their respective products. ROTI is market leader for bread, while ICBP is the largest for instant noodle. ICBP’s sister company Bogasari Flour Mill is also the largest in flour industry.
A More Aggressive PTPP
We attended public expose of PT Pembangunan Perumahan Tbk (PTPP) Wednesday (Aug 3) to get better understanding about the company’s future plans. The Company has yet to release its first half 2016 financial results, pending limited review for the issuance of new shares. First quarter results were quite promising to achieve its full year target.
Revisiting Semen Baturaja
Shares of Semen Baturaja (SMBR), the smallest cement producer listed on IDX, closed flat at Rp1125 Wednesday (Aug 3) after soaring to its historic high of Rp1225 in the morning session. Some investors decided to realise their gains because the stock has surged by 365% from its bottom. At the current price, SMBR is valued significantly higher than Semen Indonesia (SMGR) and Indocement (INTP), two of the largest cement producers in the country.