Wilmar’s response to the ‘court mafia’ scandal?
Wilmar International Ltd issued an interesting statement to the Singapore Exchange (SGX) Monday (April 14) responding media reports about the arrest of judges acquitted three palm oil companies, including Wilmar.
Missed opportunities at gold miners (2): Archi Indonesia
Shares of gold miner Archi Indonesia (ARCI), controlled by tycoon Peter Sondakh, ended substantially higher by 3.45% to Rp300 on Monday (Apr 15) on strong gold price. Unlike fellow gold miner J Resources (PSAB), which turned around from losses to profit, Archi Indonesia posted substantial downfall of profit.
Missed opportunities at gold miners (1): J Resources
Shares of gold miner J Resources Asia Pacific (PSAB) ended higher by 2.04% to Rp300 on Monday (Apr 14) as gold hovered above US$3,200 per troy ounce on global economic uncertainties.
PUBG Mobile: Tencent’s Game in Indonesia
Few games have shaped Indonesia’s digital culture as significantly as PlayerUnknown’s Battlegrounds (PUBG) Mobile. Since its release, PUBG Mobile has become more than just entertainment for young Indonesians — it is a daily habit, a social phenomenon, and for some, a professional career.
Threat from downfall of commodities
Asian stocks opened mostly higher grounds this morning to respond Trump’s decision to exempt electronics from his sweeping tariff hike. Nikkei 225 gained 1% in Tokyo, while All Ordinaries advanced 0.53%. KOSPI also gained 0.84% in Seoul as market participants await outcome of trade talks between US and Asian trading partners.
The Court Mafia & The Acquittal of Wilmar, Permata Hijau, & Musim Mas (2)
Attorney General’s Office (AGO) arrested Muhammad Arif Nuryanto, head of South Jakarta District Court, last Friday (Apr 11) just hours after President Prabowo Subianto reiterated his intention to significantly raise salary of judges so that they will not take bribes. Nuryanto is now accused of receiving Rp60 billion graft in arranging acquittal of three major plantation groups.
The Court Mafia & The Acquittal of Wilmar, Permata Hijau, & Musim Mas (1)
The Attorney General’s Office (AGO) has named at least seven suspects in the ‘court mafia’ case implicating three major palm oil producers: Wilmar International Ltd (Wilmar Group), Permata Hijau Group, and Musim Mas Group. Judges at the South Jakarta District Court are accused of receiving Rp60 billion of bribes in the acquittal of the three companies for corruption involving illegal palm oil export last month.
Fire in the disputed land of Sukahaji & Junus Suherman/Fama
A massive fire broke out in the disputed area of Sukahaji, Babakan Ciparay District, Bandung, on Wednesday evening (09/04) around midnight. It destroyed dozens of wooden stalls belonging to local residents, as well as houses nearby. People are now wondering whether the fire was purely accidental or intentional, considering the ongoing land dispute and the fact that similar incidents have occurred repeatedly throughout the years.
Nickel weighs on Harum Energy
Shares of Harum Energy (HRUM), a coal miner heavily investing in the nickel business in the past few years, opened lower by 0.8% to Rp645 Friday (Apr 11) morning to make a market capitalisation of Rp8.8 trillion, not even one-third of the company’s equity (Rp30 trillion by December 31, 2024).
Not out of the woods yet (2)
Asian stock markets opened significantly lower ground this morning to tracking selloffs in the Wall Street Thursday (Apr 10). Nikkei 225, which recorded more than 9% gain on Thursday, lost as much as 5.44% Friday morning in Tokyo, while ASX fell nearly 3% in Sydney.