Oil and Gas company Chevron Pacific has been operating in Indonesia (in several past incarnations) since the 1920s.  Chevron has developed oil and gas blocks that have contributed greatly to the Nation’s lifting, such as the Rokan Block, the East Kalimantan Block, the North Duri Development Area 13, and the Indonesia Deep Water (IDD) in the Makassar Strait.

Bakrie Group have not been making much news on the oil & gas front. It’s affiliate PT Energi Mega Persada Tbk (ENGR) exited the ONWJ Block, and ever since, the Group have managed Blocks without much potential like the Kangean Block. That being said, on Oct. 23, Bakrie Group’s Lapindo Brantas and Minarak Brantas Gas, secured the right to manage the Banyumas Block and the Brantas Block.

Two weeks ago, international agriculture player Royal De Heus Group acquired Indonesian feed producer PT Universal Agri Bisnisindo for undisclosed price consideration. This marks the first entry of the global player in Southeast Asia’s largest market for protein. Few days ago, another  global player in food assumed 100% control of Indonesian joint venture, ending over 40 years of partnership.

Crude oil increased 0.4% to US$69.52 a barrel on Monday (Oct. 22). While Nymex’s crude oil increased 0.1% to US$69.25 per barrel. Geopolitics will be a neutral factor in the week ahead. Tensions between Saudi Arabia and the U.S. have lessened, and even at their peak were unable to overcome sentiment from large crude builds in the U.S.

I Gusti Ngurah Askhara Danadiputra, CEO of Garuda Indonesia (GIAA), revealed that it has agreed to establish a joint venture with China Communication Construction Company (CCCC) for the development of aircraft tire manufacturing facility in Indonesia with estimated investment of US$500 million.

PT Fajar Surya Wisesa Tbk (FASW), popular as Fajar Paper, is among the best performing stocks with 43.5% gain year-to-date. At the last quoted price, Fajar Paper has market capitalization of Rp19.2 trillion or about 4.8 times equity (as at Sept 30, 2018). The Company has been benefited from higher paper production, including soaring export volume amidst weaker rupiah.

On August 21, 2018, we reported about a deal between Cinepolis, fourth largest movie theater chain operator, and Lippo Group related to shares of PT Cinemaxx Global Pasifik, operator of Cinemaxx. On Friday, Oct 19, Cinepolis and Lippo issued joint statement to confirm the deal. 

Bank Capital Indonesia (BACA) booked profit after tax of Rp99 billion for the first nine months (9M) to September of 2018. It jumped 61% from Rp61 billion in the corresponding period of 2017, supported by a 9.56% growth in net interest income (to Rp401 billion).