Plantation shares: FY24 Result & Valuation (2)
Higher average price of crude palm oil (CPO) and palm kernel oil (PKO) perfectly compensated production decline due to weather issues last year. The El Niño phenomenon in second half of 2023 until first quarter of 2024 led to production decline in most companies listed on the Indonesia Stock Exchange (IDX).
Plantation shares: FY24 Result & Valuation
Palm oil production of companies listed on the Indonesia Stock Exchange (IDX) last year were adversely affected by dry weather conditions, especially in the later part of the preceding year. This, however, was mainly compensated by higher average price of crude palm oil (CPO)—double digit from 2023.
Prabowo & The Eight + Four Conglomerates (3)
Within less than 24 hours, President Prabowo Subianto met eight Indonesian conglomerates twice (Sugianto Kusuma, Anthoni Salim, Franky Widjaja, Boy Thohir, Tommy Winata, Prajogo Pangestu, Tahir, James Riady). In the second meeting, however, four other conglomerates (Haji Isam, Chairul Tanjung, Anindya Bakrie, and Hilmi Panigoro)—-all are non-Chinese—joined.
People behind startup business, political interests and venture capital games
Amid Indonesia’s booming startup ecosystem, the involvement of elite figures such as Samira Shihab and Pandu Sjahrir in AC Ventures raises a crucial question: Is startup investment truly fostering innovation and sustainable growth, or is it largely controlled by political and business interests?
Happy’s Rukun Raharja (2)
Shares of oil and gas company Rukun Raharja (RAJA), a company controlled by Hapsoro (Happy)—-husband of Puan Maharani (speaker of the House of Representatives/DPR, politician from PDIP), gained 0.7% to Rp2,720 this morning as the company announced flat growth of profit last year.
Prabowo & The Eight Conglomerates (2)
President Prabowo and eight richest men in the country reportedly discussed various issues, including self sufficiency in energy and food, the newly established sovereign wealth fund Danantara, and free ‘nutritious’ meal program. That’s it?
Sari Roti’s slower growth
Shares of Nippon Indosari (ROTI), a leading packaged bread player famous with its Sari Roti brand, opened higher by 1.7% to Rp915 Friday (Mar 7) morning as investors responded positively the company’s 9% increase in net profit last year.
Prabowo & The Eight Conglomerates
President Prabowo Subianto has on Thursday (Mar 6) night met eight conglomerates at the State Palace. They reportedly discussed various domestic and global issues, including the government’s programs such as free meal, infrastructure, textile, food and energy self-sufficiency, industrialisation and the newly established sovereign wealth fund Danantara.
Finding justice for Ojol drivers
The increasing cut in commission rate for online motorcycle taxi drivers (abbreviated as ojol drivers) has been a huge problem for quite some time now. Over the past few months, a series of mass protests was staged by ojol drivers to bring this issue to the attention of the Indonesian government, with the latest one being held on February 27. In a recent hearing meeting (05/03), the House of Representatives (DPR) therefore suggested ride-hailing services companies to lower the cut in commission rate to 10%.
More mass layoffs?
Two companies producing Nike footwear in Tangerang, Banten province reportedly dismissed a combined 3,500 employees due to downfall of work orders from the global brand. This is clearly not a good news from Prabowo administration, which just swallowed a bitter pill with mass layoffs in the troubled textile company Sritex (SRIL).