Shares of state construction firm Adhi Karya (ADHI) ended lower by 2.6% on Wednesday (Mar 20) even when the company reported 65% jump in net profit last year. At the last quoted price, ADHI was worth Rp3.2 trillion, nearly one-third of its equity. 

AKR Corporindo (AKRA), the largest distributor of fuel in the private sector, booked profit attributable to owners of Rp2.78 trillion in 2023, grew 15.8% y/y, thanks to lower cost of sales and revenues because revenues actually declined 10.6% y/y to Rp42.08 trillion. 

Shares of shipping firm Pelayaran Tempuran Emas (TMAS), controlled by Khusumo Family, ended slightly lower by 1.25% to Rp158 on Tuesday (Mar 19) making a market capitalisation of Rp9.01 trillion. Temas Line is among shipping firms decently priced in the market. 

Shares of data center service provider DCI Indonesia (DCII) ended lower by 0.14% to Rp36,500 per share on Tuesday (March 19), to make market capitalization of Rp87 trillion. DCII has fallen 32% from peak last November but still among the most expensive stocks in the market.

Shares of GOTO Gojek Tokopedia ended lower by 1.37% to Rp72 on Tuesday (Mar 19) as investors digested financial report of the tech giant for full year 2023, where it posted net loss of Rp90.4 trillion against loss of Rp39.6 trillion in 2022. 

Shares of cigarette maker HM Sampoerna (HMSP) declined 2.34% to Rp835 on Friday last week (March 15), to make market capitalization of Rp97.13 trillion. Its peer Gudang Garam (GGRM) also fell 2.13% to Rp19,500, valued at Rp37.52 trillion. Investors responded negatively a 10% hike on the excise tax for cigarette effective from January 1, 2024. 

Shares of Barito Renewables (BREN), controlled by tycoon Prajogo Pangestu, opened lower by 1% to Rp5,100 this morning as investors digesting bottomline performance of the company last year. Minutes into trading, however, the stock regained grounds 2% to make a market capitalisation of Rp705.7 trillion, third largest on IDX behind BCA and BRI.

Investment firm Saratoga Investama Sedaya (SRTG), co-owned by Sandiaga Salahuddin Uno (minister of tourism and politician from Islamic party PPP) and Edwin Soeryadjaya, suffered loss of Rp10.1 trillion in 2023, against profit of Rp4.6 trillion in 2022, as it recorded Rp13.8 trillion loss on investment in shares and other securities. 

Telco infrastructure firms PT Mora Telematika Indonesia, or Moratelindo (MORA) and PT Bali Towerindo Sentra (BALI), two of companies listed on IDX that owned by underreported business person Farida Bau, reported a flat profit and lower profit last year.

Indonesia booked trade surplus of US$867 million last month, a free fall from US$5.4 billion in February 2023 as export declined 9.45%, while import surged by 15.8%. The import side might be one-off due to substantial increase in import of cereals (rice) by 54% in the month, but there were alarming signs in the export side.