Shares of online shopping mall Blibli.com (PT Global Digital Niaga Tbk/BELI)), owned by Djarum Group, declined 0.43% to Rp460 on Friday last week (June 21), to make market capitalization of Rp56.68 trillion. The stock fell 4.17% so far this year, as some continue to ask about the Company’s earning prospect.

Five months have gone. It is increasingly difficult to expect export would support a higher economic growth this year. Despite improvements in May, overall export in the first five months declined 3.52% year-on-year. We’ve seen price improvement of some key export commodities in recent weeks, but unlikely enough to shore up growth for full year. 

Golf course manager Intra GolfLink Resorts (GOLF), owned by Darma Mangkuluhur Hutomo, who is the son of Tommy Soeharto (youngest son of the late strongman Soeharto), plans to launch an initial public offering (IPO) by offering 3.1 billion shares, representing 15.02% of the company’s total issued and paid-up capital, priced at Rp200-230 per share, to raise total proceeds of maximum Rp713 billion.

Pulp and paper industry is one of key pillars of Sinarmas Group (Widjaja Family). With dominant position in domestic market and strong overseas presence, two companies under the business unit came up with mixed results in the first quarter of the year.

Shares of coal miners were remain under correction so far this year along with the fluctuation of coal price which has rebounded from its lowest on February 21, 2024. Supply-demand balance, especially in China, remains an issue to watch in the coming months. 

Consumer goods giant Unilever Indonesia (UNVR) recorded the highest advertising and promotional spending in the last five years, and spending the most in the first quarter (Q1) of 2024. UNVR spent Rp912 billion for advertising and promotion costs in Q1 this year, up 7.79% year on year (y/y).

The Central Jakarta commercial court has on Monday (June 11) ruled against the troubled textile producer Pan Brothers (PBRX) and its three subsidiaries to have the status of temporary postponement of debt payment obligations or PKPU for maximum 45 days.

Financing firm KDB Tifa Finance (TIFA), controlled by Korea Development Bank (KDB), is now under the spotlight as retail investors have voiced their objection related to no dividend payment in the past five years. 

Industrial estate and property developer Pakuwon Jati (PWON) has prepared a capital expenditure (capex) budget of Rp2.71 trillion for this year, used to accelerating development of superblock projects that are being built.