Charoen Pokphand (CPIN), the largest integrated poultry player, is now worth Rp78.7 trillion, more than four times Japfa Comfeed (JPFA), the second largest player. In the first half of 2024, Japfa came out stronger than Charoen in terms of profit margins. 

Ten years ago, feed producer Malindo Feedmill (MAIN) sold 96 million shares to a group of investors, including private equity firms, at Rp3,500 per share. On Monday (Sep 9), Malindo ended lower by 0.63% to Rp795. That means those stay in the company already booked unrealised loss of 77%. 

BlueBird (BIRD), the largest conventional taxi operator in the country, launched initial public offering (IPO) about ten years ago. The shares were offered at Rp6,500 and in a matter of three months, the stock reached its peak at Rp12,100 in January 2015. Late last week, the stock was traded at Rp1,800 only.

Shares of PT Aspirasi Hidup Indonesia Tbk (ACES), the largest furniture and home furnishing chain in Indonesia ended higher by 0.7 % to Rp720 on Tuesday (Sept 3) to make a market capitalization of Rp12.32 trillion. At the last quoted price, ACES was worth Rp12.32 trillion or 2.08 x equity.

President elect Prabowo Subianto said few months ago that he would implement mandatory B100 (biodiesel 100%) to significantly reduce import of petroleum diesel. Four years ago, state electricity utility PLN reminded the government that B100 could lead to bigger emissions, twice of diesel instead.

Crude palm oil (CPO) has retreated from its peak this year (RM4500/ton) to trade below RM4,000 this week on plans from India, one of the largest importers of vegetable oil, to introduce higher import tariffs. In the past two years, the commodity has relatively been stagnant around RM4,000.

Shares of Mayora Indah (MYOR), one of the largest F&B players in the country, ended at Rp2,660 to make a market capitalisation of Rp59.47 trillion last Friday (Aug 29), slightly below F&B giant Indofood Sukses Makmur (INDF, Rp60 trillion). 

Composite index of Indonesia Stock Exchange (ISHG) ended higher by 0.57% to a new record high last Friday (Aug 30) thanks to ridiculous valuation of companies controlled by tycoon Prajogo Pangestu. 

Shares of Steel Pipe Industry Indonesia (ISSP), popular as Spindo, ended slightly higher at Rp306 on Friday (Aug 30) to make a market capitalisation of Rp2.2 trillion, not even half of the company’s equity as at June 30, 2024 (Rp4.72 trillion). 

Shares of MNC Coal (IATA) and Resources Alam (KKGI), both are small coal miners, ended substantially higher by 9.8% and 8.1% respectively on Thursday (Aug 30) as some investors bet on low valuation of coal stocks amidst a relatively strong coal price.