Reopening of economic activities (2)
The capital city Jakarta will resume operation of office and restaurants (exclusive of those in the malls) whilst at 50% capacity by Monday (Jun 8). This will be followed by reopening of shopping malls one week later. The mass-rapid transit (MRT) is set to return to normal operation today, while Tanah Abang, the largest textile and garment wholesale market in Southeast Asia, should open soon.
Companies affected/not affected by Covid-19 (10)
Hand sanitizer is now a must have. Demand skyrockets. It’s good for ethanol producers. One of them, PT Indo Acidatama Tbk (SRSN) admitted to Indonesia Stock Exchange (IDX) that it is positively affected by higher demand for ethanol, main raw material for hand sanitizers. Wonder whether domestic sugar planters would boost ethanol production going forward.
Construction sector during the pandemic (2)
Ministry of public works and housing said construction works of supporting infrastructure projects in five prioritized tourism destinations (Toba Lake, Borobudur, Mandalika, Labuan Bajo, and Manado-Likupang) have been running us usual without suspension whatsoever during the pandemic. This include construction of roads & bridges, clean water infrastructure, flood control, waste management, and public housing.
Construction sector during the pandemic (1)
State-owned construction firm Wijaya Karya (WIKA), which develops some toll roads, said on Thursday that out of 208 projects, 13% of them were suspended, while 23% others were in slowdown mode related to physical distancing measures. The company, however, increased its workforce from 3,592 in December 2019 to 4,154 by the end of April 2020.
Companies affected/not affected by Covid-19 (2)
Textile and garment producer PT Pan Broters Textile Tbk (PBRX) is one of companies not affected by Covid-19 and measures taken by the government to contain the spread of the virus. The company, in fact, claimed positive implication because growing demand for PPEs led to creation of new product line.
Strong performers in Q1/2020 (3)
Consumer goods players performed well in the first quarter of 2020. Pharmaceutical company PT Kalbe Farma Tbk (KLBF), for example, generated sales revenues of Rp5.8 trillion in the quarter, an increase of 8% from the corresponding period last year amidst economic slowdown due to the Covid-19 pandemic.
Strong performers in Q1/2020 (1)
First quarter of 2020 was not too bad for Indonesia in some economic sectors. Some of them might remain strong in the second quarter due to disruption of operations in some countries related to Covid-19 measures.
Freeport’s Smelter to Operate in 2024
The COVID-19 pandemic has affected many strategic projects in the mining sector, one of which is the construction of PT Freeport Indonesia (PTFI)’s copper smelter. The Smelter is to be built in Gresik, East Java, but it has been halted. It’s now difficult to continue the construction of the Smelter in the Java Integrated Industrial and Port Estate (JIIPE), given the pandemic.
PLN Revises Its Electrification Target
The coronavirus pandemic has affected the planning of the state-owned utility giant PT PLN. The Company’s 35.000 MW electrification project must be revisited, with completion targets pushed back. The President Director of PT PLN Zulkifli Zaini told members of the...
Budget Reallocation in the Ministry of Agriculture
COVID-19 continues to spread in Indonesia. The number of new positif cases detected has increased along with the Government’s increased PCR testing capacity. It’s unclear how long this pandemic would last, and it’s thus unclear how long the economy would have to be in suspended animation. Logistics for food is now a major concern. The Ministry of Agriculture must work hard to guarantee the security of food stocks. But how prepared are they to do the job?