Market crash: Beyond Sri Mulyani Issue
So, Sufmi Dasco Ahmad, deputy speaker of the House of Representatives (DPR), led a tour of lawmakers to the floor of Indonesia Stock Exchange (IDX) following the crash of the stock market Tuesday (Mar 18). “Thought Sufmi’s boss (President Prabowo) doesn’t care about the equity market,” one market participant commented, referring to Prabowo’s earlier statements that only those owning shares are the ones losing economic interest.
Michelin squeezes Multistrada
PT Multistrada Arah Sarana Tbk (MASA), a company controlled by France’s tire giant Michelin, booked net profit of US$34.9 million last year, crashed by 53.7% from 2023 due to squeezed operating margins.
Fangiono Family acquires ANJT from Tahija Family
PT Ciliandra Perkasa, subsidiary of SGX-listed First Resources Ltd (controlled by Fangiono Family) has on 18 March 2025 entered into a conditional shares purchase agreement (CSPA) with Tahija Family to acquire 91.17% shares in IDX-listed plantation firm PT Austindo Nusantara Jaya Tbk (ANJT).
Chandra Asri: Better Q4, but not enough
Shares of Chandra Asri (TPIA), the largest petrochemical company in Indonesia, ended lower by 1.5% Monday (Mar 17) despite improvement in the company’s operations in the fourth quarter of 2024.
AI solution to address traffic congestion in Jakarta
Traffic congestion in major cities in Indonesia, especially Jakarta, has become a chronic issue that impacts productivity, the environment, and public health. One of the latest initiatives to tackle this problem is the Green Light project, which leverages artificial intelligence (AI) technology and intelligent transportation systems to optimize traffic flow. This system utilizes sensors, surveillance cameras, and AI algorithms to analyze vehicle density and dynamically adjust traffic light durations, allowing traffic to flow more smoothly without relying on fixed timing patterns that are often ineffective.
Surprises from Taisho Pharmaceutical
PT Taisho Pharmaceutical Indonesia Tbk (SQBB) surprised many with net profit of Rp287.8 billion last year, skyrocketed by 257% from 2023 on strong sales revenue growth and improved operating margins.
External trade data for Jan-Feb 2025
Pretty much as predicted, Indonesia’s export performed better than import in the first two months of 2025, which might indicate weaker domestic economy. Export grew 9.16% year-on-year to US$43.4 billion in Jan-Feb 2025, while import slipped 0.36% to US$36.8 billion.
Financials of Prajogo Stocks
PT Barito Pacific Tbk (BRPT), controlling shareholder of Chandra Asri Petrochemical (TPIA) and Barito Renewables (BREN), has just released its financials for full year 2024. The company’s net profit actually doubled from 2023, but performance of TPIA and BREN might disappoint investors.
Revisiting Sekar Laut & Sekar Bumi
Shares of Sekar Laut (SKLT), involved in the processing and trading of fishery products, ended flat at Rp174 last Friday (Mar 14) even when the company reported an impressive financial performance in 2024.
Economic data to watch
Asian stock markets opened mostly higher ground this morning to respond recovery of Wall Street last Friday and stimulus package from China. Composite index of IDX (IHSG) might follow suit. Export-import data, the Fed’s decision on interest rate, and mass layoffs are some important data affecting market movements this week.