Shares of petrochemical giant Chandra Asri (TPIA) have dropped 28.1% from its peak as investors anticipated squeezed margins this year from higher average price of naphtha—-key feedstock for olefin center. Higher price of raw materials hurt Chandra Asri’s margins, which can be seen in 19% fall of gross profit in the first nine months of 2018. 

Winds of change are blowing in the TV industry, some say, and it’s happening faster than anyone thought. Streaming services, the rise of Netflix, Amazon, and plans from majors like Disney in offering own streaming services, might eventually change the future of cable TV providers like Indovision (MNC Sky Vision), LinkNet (Lippo), IndiHome (Telkom), etc.

Saudi Arabia’s Saudi Aramco is finally ready to partner up with state-owned PT Pertamina to develop the Cilacap Refinery in Central Java. Saudi had intended to cooperate since 2014, but the business agreement it was supposed to reach with the agreement progressed very slowly. That’s mostly because Saudi Aramco didn’t only seek for a tax holiday, but they also wanted the option for a spin-off.

Shares of Indofood CBP Sukses Makmur (ICBP) gained 2.9% to Rp8,900 Wednesday (Oct 31) as investors responded positively the company’s stronger performance in the third quarter. Unlike the first half, Indofood CBP reported double digit growth in the third quarter, while net profit grew 26% year-on-year.

Solid support from vice president Jusuf Kalla for reelection of president Joko ‘Jokowi’ Widodo next year—-at least that’s our impression from Kalla’s recent public statements on various issues, is considered one of key factors to watch. This might be related to solid financial performance of Bukaka Teknik Utama (BUKK), a company controlled by Kalla’s family.

Minister of Energy and Mineral Resources Ignasius Jonan (ESDM) has returned from visiting Japan. He brought back some news from his trip, one of which is that the Ministry of ESDM has come to an agreement with INPEX Corporation for accelerating the development of the Liquified Natural Gas (LNG) plant in the Abadi field of the Masela Block, Maluku. This is crucial for the Government of Indonesia’s plan to cover its oil and gas production deficit.

State-owned PT Indonesia Asahan Aluminium (INALUM) is to begin its ambitious project in North kalimantan together with its subsidiaries: PT Aneka Tambang dan PT Bukit Asam Tbk. The President Director of INALUM Budi Gunadi Sadikin said that this year INALUM would develop an aluminium plant with the production capacity of 500 kilotons per year in the Regency of Bulungan, North Kalimantan.

State-owned steel producer Krakatau Steel (KRAS) booked net loss of US$37.38 million in Jan-Sep 2018, about half of losses recorded in the corresponding period last year. The Company’s joint venture with POSCO, one of the world’s largest steel producers, interestingly, turned positive in the period.

State-owned oil and gas company PT Pertamina has entered into a cooperation with Taiwan’s China Petroleum Corporation (CPC) to build a petrochemical plant. That being said, the exact location of the plant has not yet been determined. Pertamina’s team are still reviewing the possibility of building in either Balongan, West Java or Tuban, East Java.