FY18 Results: ROTI & ANJT
Bread maker Nippon Indosari Corpindo (ROTI) booked profit attributable to equity of Rp172.7 billion in 2018 (it grew 27 from Rp135.3 billion in 2017) supported by other comprehensive income (Rp9 billion against loss Rp10.9 billion in 2017).
Salim’s Big Cut Loss in Goodman Fielder
Wilmar International Ltd announced Monday (Mar 11) that it has entered into a share purchase agreement to acquire 50% shares in FPW Singapore Holdings Pte Ltd from Oceanica Developments Ltd, an indirect subsidiary of Salim Group’s First Pacific Co Ltd for a cash consideration of US$180 million.
An Energized Manufacturing Industry (3)
Minister of industry Airlangga Hartarto, minister of energy & mineral resources Ignasius Jonan, and minister of state-owned enterprises Rini Soemarno attended the launching of Bukit Asam Coal-Based Special Economic Zone (BACBSEZ) in Tanjung Enim Regency, South Sumatra province Sunday (March 3rd).
Soft Touch Regulation?
The Ministry of Communications and Informatics (Kominfo) have been organizing a regular talk series called Forum Merdeka Barat 9 (FMB9). They invite high profile speakers to talk about a particular topic or question. On Tuesday, Feb. 26, the panelists of FMB9 tried to answer the question, “Who Are Unicorns For?” In the panel was the Minister of Kominfo Rudiantara, the Chairman of the Financial Services Authority (OJK) Wimboh Santoso, and the Chairman of the Investment Coordinating Board Thomas Trikasih Lembong (Tom).
Expectations from Improved Connectivity
Regardless of what might come after April 17 election, the elected President should be better positioned to advance further Indonesia’s development because major infrastructures have mostly been completed. People and industrial areas in the greater Jakarta, West Java, and Banten province should be better served with the scheduled completion of Jakarta-Cikampek elevated toll road, which is key to the trans-Java toll road.
An Energized Manufacturing Industry (2)
State-owned ammonia and fertilizer producer PT Pupuk Iskandar Muda (PIM), subsidiary of PT Pupuk Indonesia (Holding), has completed acquisition of PT Asean Aceh Fertilizer (AAF) late last year. Following completion of the acquisition, PIM plans to revise some manufacturing assets left dormant for more than one decade due to limited natural gas supply.
Corporate Actions
Plastic processor Trias Sentosa (TRST) and PT Toyobo Co Ltd set up two joint venture (JV) entities (PT Trias Toyobo Astria/TTA), and PT Toyobo Trias Ecosyar/TTE) expected to commence operation by the fourth quarter (Q4) of 2019. The JVs are now building factories. TRST holds a 60% interest in TTA and 40% interest in TTE.
An Energized Manufacturing Industry
Minister of industry Airlangga Hartarto, who is also chairman of Golkar Party, inaugurated commercial operation of PT Virtue Dragon Nickel Industry (VDNI) in Morosi, Konawe on Monday, February 25. After spending US$1 billion, the Company pledges US$2 billion more for the nickel-to-stainless steel facilities in the same area.
Bright Spot of the Economy: Mineral Processing
Aneka Tambang (ANTM) is expected to start commercial operation of its new ferronickel (FeNi) smelter in Halmahera Timur, North Maluku province later part of the year with full financial impact next year. Jinchuan, one of the world’s largest producers of nickel, meanwhile, is moving closer to start its nickel smelter in Obi Island, North Maluku as well.
Corporate Results & The Labour Market
January was not a great month in the context of State Budget 2019 with expanded deficit, but corporate results continue to show the resilience of the economy amidst global slowdown and uncertainties. Too early to judge for the whole year, but in contrast to cars, sales of motorcycles in January jumped by 17.9% to 569,126 units.