Technology firm GoTo Gojek Tokopedia (GOTO) announced on Wednesday (January 31) that it has closed transaction with TikTok Nusantara (SG) Pte. Ltd. regarding acquisition of 75.01% shares in e-commerce platform Tokopedia.

The national economy might have grown 5% last year, but major banks enjoyed huge profit growth. So, while most people down there cried out for help due to falling purchasing power, major banks, mostly state-owned, bagged hefty profits.

Shrimp producer Central Proteina (CP) Prima (CPRO) announced on Monday (January 29) that it has completely paid off the Senior Facility Agreement (SFA) Tranche A debt from the 2021 bond restructuring on 15 December 2023. 

Shares of technology firm GoTo Gojek Tokopedia (GOTO) declined 2.38% to Rp82 on Friday last week (January 26), to market capitalization of Rp98.52 trillion. The stock has fallen 5.7% this month, and losing 75.7% from its initial public offering (IPO) price of Rp338.

Shares of state-owned Bank Negara Indonesia (BBNI) or BNI ended slightly higher by 0.46% to Rp5,425 last Friday (Dec 26) when the company reported net profit of Rp20.9 trillion in 2023, a growth of 14.2% from the previous year. Compared to peers, major banks, BNI is considered undervalued.

PT Bank Central Asia (BCA) Tbk (BBCA) booked net profit of Rp48.6 trillion in 2023, grew 19.4% year on year (y/y). BCA’s controlling owner Djarum Group has earlier been mentioned by Boy Thohir (co-owner of Adaro Energy) as one of major business groups declaring support for Prabowo-Gibran campaign.

Shares of telco tower operator Dayamitra Telekomunikasi (MTEL), or Mitratel, owned by Telkom Group, declined 0.75% to Rp660 on Wednesday (January 24), to make marker capitalization of Rp55.14 trillion. While its peer, Tower Bersama Infrastructure (TBIG) fell 0.26% to Rp1,950, to make market capitalization of Rp44.18 trillion.

Share of Sinarmas Group telecommunication firm Smartfren Telecom (FREN) gained 2% to Rp51 on Wednesday (January 24), to make market capitalization of Rp17.1 trillion. While FREN said it would increase capital with preemptive rights or a rights issue, targeting funds of up to Rp8.57 trillion.

MNC Kapital Indonesia (BCAP), owned by Hary Tanoesoedibjo, announced on Tuesday (January 23) that it divests 40% of its shares in PT MNC Guna Usaha Indonesia (MNC Leasing) to the giant from China, Shandong Heavy Industry Group (SHIG).