PepsiCo Indonesia is preparing to inaugurate its snack factory in Cikarang, West Java province. The Company has invested US$200 million in factory development for 10 years, targeting to start operation in Q1 2025.

CEO of XL Axiata (EXCL) Dian Siswarini has resigned from the third largest telecommunication provider after nearly one decade in that position. At the same time, thousands of workers decided to take a collective leave, which sparked speculations about their discontent on the proposed merger between EXCL and SmarFren (FREN), the smallest player in the industry. 

Shares of Jhonlin Agro (JARR) declined 3.41% to Rp338 on Wednesday (Dec 11) to make a market capitalisation of Rp3.12 trillion. JARR, one of biodiesel producers in the country, is one of companies controlled by Haji Isam, who made headlines because of his involvement in Prabowo’s food estate project in Papua and last week’s meeting between Prabowo and Japanese business groups at the State Palace. 

Haji Isam, owner of Jhonlin Group, was seen accompanying cabinet members in a meeting with Japanese business groups at the State Palace last Friday (Dec 6). President Prabowo even specially introduced Haji Isam, whom he tasked to build the million hectares food estate in Merauke, Papua. 

Acquisition of Bakmi GM clearly strengthens Djarum Group’s position in the retail and food & beverage (F&B) businesses. After acquisition of Ranch Market few years back, Djarum has quietly grown its F&B manufacturing capacity through organic and inorganic growth strategies. 

Djarum Group has reportedly acquired 85% shares in PT Griya Mie Sejati, owner of the popular noodle chain restaurant Bakmi GM, for around Rp2 trillion. Months earlier, the group spent Rp3.1 trillion to acquire PT Suryacipta Swadaya, which develops and operates industrial estate in West Java.

Geopolitical tensions in the Middle East and global economic uncertainty lifted gold to US$2,701 per ounce this morning. The safe-haven asset has gained nearly 4% in the past four weeks, encouraging some to commit more investments in gold mining.

Shares of PT Pantai Indah Kapuh Dua Tbk (PANI) surged to Rp18,000 on Monday (Dec 9) to make a market capitalisation of Rp303.9 trillion, nearly 15 times BSD City (BSDE). Forget about this. Nothing to do with rare interview of Sugianto Kusuma (Aguan), controlling shareholder of PANI, by Tempo magazine. 

Harita Group is main partner of Thailand-listed Lanna Resources Ltd in thermal coal business through two companies operating under the Coal Contract of Work (CCOW). Outside these companies, Harita Group also controls one other coal mining company, making it one of substantial player in the sector.

Harita Group, controlled by the family of Lim Gunawan Hariyanto, is a diversified business group with interest in bauxite-alumina-aluminium, nickel, thermal coal, palm oil, plywood, finance, etc. It controls some companies listed on the Indonesia Stock Exchange (IDX), Singapore Exchange (SGX), and Hong Kong Stock Exchange (HKSE).