Jaya Ancol’s margins squeezed, but undervalued still
PT Pembangunan Jaya Ancol Tbk (PJAA), a theme park controlled by Jakarta provincial government, has just released its full year 2024 financial results. The company reported slightly lower sales revenues, which might reflected lower purchasing power of mid-low income group in the country.
DeepSeek’s disruption (2)
Nikkei 225 ended lower by 1.39% Tuesday (Jan 28) as market participants responded to worldwide shockwave from the launch of China’s DeepSeek AI Assistant at a fraction of costs from other developers like ChatGPT and Gemini.
The inevitable budget revision (5): Implications
President Prabowo Subianto has instructed minister of finance Sri Mulyani Indrawati to save Rp300 trillion from ‘unnecessary expenditures’ like seminars, conferences, trips, etc. This will likely be taken to support the president’s signature programs, especially the free meal, food estate, and public housing.
DeepSeek’s disruption
The launch of DeepSeek’s AI Assistant from China start-up company has sent shockwaves to the stock market with downfall of shares of chip-makers and datacenter. DeepSeek is considered serious competitor for ChatGPT and Gemini (Google).
Trump’s trade war
US President Donald Trump has imposed 25% tariffs on products imported from Colombia, one of the country’s top trading partners with over US$40 billion of bilateral goods and services exchanged.
Ifishdeco: Overshooting?
Nickel ore miner PT Ifishdeco Tbk (IFSH) is among the best performing stocks with gain around 50% year-to-date despite correction of nickel price in international market. At the last quoted price (Rp1,220), Ifishdeco was worth Rp2.6 trillion, more than three times equity (Rp0.8 trillion by September 30, 2024).
Who controls eFishery?
After securing US$200 million Series D funding, where Abu Dhabi’s 42x Fund (G42) was main financier, eFishery founder and then CEO Gibran Huzaifah El Farizy, told the press about a plan for initial public offering (IPO) in 2029. Until early last year, eFishery was considered the first unicorn in the aquaculture tech industry with US$1.4 billion valuation.
Updates on the Illegal Sea Fence
The recent meeting between Commission IV of the House of Representatives and Ministry of Marine Affairs and Fisheries (KKP) resulted in nothing but more confusion. New statements from Agung Sedayu Group as the alleged SHGB owner of the fenced area off Tangerang coast only complicate things as well. Now it seems that all related parties are adamant about making this issue mysterious for as long as possible.
Metrodata + Databricks
Shares of digital solution provider and technology innovator Metrodata Electronics (MTDL) ended flat at Rp565 on Tuesday (January 23) as the company announced its new partnership. The last quoted price translated into market capitalization of Rp6.93 trillion, above equity (Rp5.23 trillion as of Sept 30, 2024).
eFishery fraud: Those Screwed
Hundreds of employees of PT Multidaya Teknologi Nusantara (eFishery) staged a protest at the company’s headquarter in Malabar Street, Bandung, West Java on Thursday (Jan 23). They demand transparency and clarity from the management on the alleged fraud of US$600 million. They doubted allegation of ‘systematic fraud’ levelled against the aquaculture technology startup as mentioned by Patrick Walujo (co-founder of Northstar Pacific and initial investor of eFishery).