Chandra Asri Petrochemical (TPIA), the largest petrochemical company in Indonesia, announced on Tuesday (December 12) that it has secured an investment of US$194 million from Electricity Generating Public Company Limited or EGCO Group (EGCO), a leading independent power producer in Thailand. 

Bank BTPN has its acquisition plan funded by proceeds from offering new shares or rights issue, while Vital Solution Fund entered as a shareholder of Maybank Indonesia (BNII) with a portion of more than 5%. It is recorded that the Vital Solution Fund holds 6.65 billion shares in BNII with an ownership portion of 8.72%.

Newcastle coal futures, for the December 2023 contract, rose 1.51% to US$151 per ton on Monday (December 11), the highest in over a month, as demand from China is set to rise as temperatures are falling, Tradingeconomics.com reported. While not as high as last year,...

After gaining 13.68% to Rp108 on Friday last week (December 8), shares of technology firm GoTo Gojek Tokopedia (GOTO) dropped 20.37% to Rp86 on Monday (December 11), to make market capitalization of Rp103.3 trillion, following report about acquisition of 75% shares in Tokopedia by TikTok.

Shares of technology firm GoTo Gojek Tokopedia (GOTO) gained 13.68% to Rp108 on Friday last week (December 8), in the midst of the buzz regarding the potential collaboration between GOTO and TikTok which was responded positively by the market. Foreign investors, interestingly, were recorded selling GOTO shares with a net foreign sell of Rp220.9 billion. 

Shares of Barito Renewables Energy (BREN), a holding company and part of the Barito Pacific Group owned by Prajogo Pangestu, ended higher by 3.87% to Rp8,050 last Friday (Dec 8) to make a market capitalization of Rp1,077 trillion, taking over the position long held by Bank Central Asia (BBCA) as the largest company on the Indonesia Stock Exchange (IDX) by market cap.

Shares of plantation firm Sawit Sumbermas Sarana (SSMS) gained 1% to Rp1,010 on Thursday (December 7), to market capitalization of Rp9.62 trillion, on report the Company will receive the transfer of debt into shares worth Rp3.45 trillion.

The retailers experienced a decline in sales for the first nine months (9M) to September of 2023 as a result of the economic slowdown and weakening purchasing power in the lower middle income group. The retailers posted less than encouraging performance due to a lack of stimulation during the last Eid holiday.

Fixed broadband operator Link Net (LINK), subsidiary of Axiata Group, where telco operator XL Axiata owns 20% shares, suffered loss of Rp274 billion in first 9M this year, against profit of Rp246.4 billion in the same period of 2022, due to lower revenues and higher expenses. 

Dian Swastatika Sentosa (DSSA), owned by Sinar Mas Group, booked net profit of US$749.57 million in the first nine months (9M) to September of 2023, declined 5.8% year on year (y/y) inline with lower revenues and higher selling expenses. DSSA’s revenues was down 1.5% to US$4.09 billion while selling expenses rose 13.7% to US$397.7 million.