Online shopping mall Blibli.com (PT Global Digital Niaga Tbk/BELI)), owned by Djarum Group, suffered loss of Rp2.65 trillion in the first nine months (9M) to September of 2023, but narrowed from Rp3.75 trillion loss in the corresponding period last year.

Shares of nickel producer Trimegah Bangun Persada (NCKL) or Harita Nickel, one of the largest in the country, ended lower by 2.4% to Rp1,015 on Thursday (Nov 30) as investors responded to the company’s release of financial report for the period ended Sept 30, 2023. The stock is now traded way below IPO price (Rp1,250) few months back.

PT Mineral Industri Indonesia (MIND ID) has finally released financial report for the period ended June 30, 2023. MIND ID, parent of Aneka Tambang (ANTM), Bukit Asam (PTBA), PT Timah Tbk (TINS), and PT Freeport Indonesia (PT-FI), booked net profit of Rp11.2 trillion in the first half of 2023, increased by 12.3% from the corresponding period of 2022 thanks to substantial contribution from PTFI.

Shares of Bumi Resources (BUMI), the country’s largest coal producer by volume, ended lower by 2.7% to Rp108 on Wednesday (Nov 29) as investors responded negatively the company’s performance in the first nine months of 2023. BUMI, which is now co-owned by Bakrie Group and Salim Group, reported substantially weaker bottomline than peers. 

Coal miner Harum Energy (HRUM), which has invested more in nickel industry in the past few years, booked net profit of US$107.3 million in the first nine months of 2023, crashed by 55% from the same period last year due to correction in thermal coal price.

Shares of nickel producer Vale Indonesia (INCO) ended substantially higher by 7.1% on Wednesday (Nov 29) as investors responded to recovery of nickel prices, which gained nearly 3% in London Metal Exchange. Vale is a company to watch because of the ongoing negotiation with Indonesian government related to divestment of 14% shares.

Shares of plantation firm Palma Serasih (PSGO) gained 6.15% to Rp138 on Tuesday (November 28) as investors welcomed the acquisition of two PSGO’s subsidiaries–PT Agro Bumi Kaltim (ABK) and PT Nusantara Agro Sentosa (NAS)–by PT Evans Indonesia, wholly-owned subsidiary of LSE-listed M.P. Evans Group PLC. PSGO is now valued at Rp2.6 trillion.

In order to pay out US$325 million of cash dividends, Golden Energy Mines (GEMS), one of coal producing companies controlled by Sinarmas Group (Widjaja Family), opted to take in US$166 million long-term loans. With that, GEMS managed to pay US$162.9 million long-term loans due in the first nine months of 2023.

Shares of state-owned mortgage bank PT Bank Tabungan Negara (BTN) Tbk (BBTN) ended flat at Rp1,290 on Monday (Nov 27) as investors responded to flat growth of the company’s net profit in the first nine months of 2023.