Additional capital injection for state-owned EPC firm PT Hutama Karya of Rp2 trillion from the Revised 2016 State Budget allows the Company to proceed with construction of trans-Sumatra toll road. It is smaller than the previously approved amount of Rp5 trillion, but given lackluster revenue side of the Budget, this is enough to keep going.

Most analysts predicted Brexit would drag down commodities. Crude oil was predicted to move closer to US$40 per barrel. They seemed right when crude oil fell 5% the day market get confirmation about UK’s decision to leave European Union. Metals were losing ground as well. Interestingly, two days later commodities regained grounds with crude oil moves closer to US$50 per barrel.

PT Perusahaan Listrik Negara (PLN), the state electricity provider, has just released its full 2015 financial results. PricewaterhouseCoopers (PwC), the auditor, gave qualified opinion to the financial report due to PLN’s rejection to apply accounting standard ISAK 8 related to future liabilities to independent power producers (IPPs). Other than that, there are some key takeaways from the report.

Oil and gas supporting services company PT Apexindo Pratama Duta Tbk (APEX) has just released its financial report for the year ended December 31, 2015 on Monday (June 27). There are some interesting issues deserved continuous watching in the Company, including status of loan facilities from Standard Chartered Bank secured before downfall of commodities in 2013.

Intiland Development (DILD) is one of property companies directly affected by controversies surrounding the North Jakarta reclamation project. Unlike Agung Podomoro Land (APLN), whose CEO is named suspect in the alleged bribery scandal, Intiland has rarely been mentioned in the controversy.

Since the accident of Lentera Bangsa floating storage and offloading (FSO) in September 2011, PT Trada Maritime (TRAM) Tbk has been struggling to stay afloat. Its future depends on successful debt restructuring negotiation with creditors. In the first quarter of 2016, the Company’s sales revenues dropped 11%, mainly due to substantial decline in the dry bulk segment.

Malaysia-based RHB Bank Bhd has proposed to acquire PT Bank Mestika Dharma Tbk but the Financial Services Authority (OJK) has not given a green light as both countries needs to deal on the bilateral agreement.

Agung Podomoro Land (APLN) is among the worst performing stocks year-to-date, losing 20.4% to make market cap of Rp5.45 trillion or about 0.6 x equity only. Negative sentiment from bribery case implicating its CEO and prospect of reclamation project in north Jakarta might have contributed to the downfall.

Jokowi-Kalla administration seems determined to boost toll road development in the country. The toll road authority (BPJT) has just kicked off tender for the development of four new toll roads in Java with total length of 218 KM. In the meantime, toll road projects in Sumatra Island continues to show significant progress of physical construction.