Companies listed on Indonesia Stock Exchange (IDX) have geared up capital expenditures in the first half to reflect their optimism about the economy. Industrial estate developer Kawasan Industri Jababeka (KIJA), for example, spent Rp309 billion cash in the period for investments, jumped by more than 100% from the corresponding period of 2015.

Paper manufacturer Fajar Surya Wisesa (FASW) is among the best performing stocks with 124% gain year-to-date, supported by its stronger fundamentals. In the first half of 2016, FASW, popular as Fajar Paper, booked net profit of Rp404 billion against net loss of Rp138 billion in the corresponding period of 2015.

State-owned pharmaceutical company Kimia Farma (KAEF) booked net profit of Rp94 billion in the first half of 2016, increased by 20.9% from the corresponding period of 2015, thanks to stronger performance in the second quarter. Pharmaceutical and consumer goods distribution company Millennium Pharmacom also reported significantly stronger performance in the first half.

Consumer goods producers continued to reports strong performance in the second quarter of 2016. HM Sampoerna, the largest cigarette producer in the market, for example, posted nearly 15% growth in sales revenue in the quarter against 1.7% only in the first quarter.

Telekomunikasi Indonesia (TLKM), the largest telecommunication carrier in Indonesia, booked net profit of Rp9.93 trillion in the first half of 2016, jumped by 33.3% from the corresponding period of 2015, thanks to improved operating margins.

Unilever Indonesia (UNVR), the largest player in personal and home care market, booked net profit of Rp3.3 trillion in the first half of 2016, grew 12.5% from the corresponding period of 2015, thanks to strong performance in the second quarter.

In this edition, we update you the US$5 billion high-speed train project connecting Jakarta and Bandung, the US$3 billion Patimban port project in West Java, and some other infrastructure projects.

Construction of Phase I of Kuala Tanjung Port in Batubara Regency, North Sumatra province has been 51.9% completed. Three new water reservoirs built by Jokowi-Kalla administration will likely be completed two years ahead of initial schedule. Asian Infrastructure Investment Bank (AIIB), meanwhile, is expected to finance clean water infrastructure projects.

Range International Limited, which operates production facilities mostly in Indonesia, was admitted to the official list of Australia Stock Exchange (ASX) Thursday, July 21 following the initial public offering (IPO) of 50 million shares at $1 per share. With enlarged share capital of 150 million shares, Range started its debut in the stock market with market capitalization of $150 million, more than twice of its enlarged equity.