Shares of telco tower operator Dayamitra Telekomunikasi (MTEL), or Mitratel, owned by Telkom Group, gained 0.74% to Rp680 on Monday (November 20), to make marker capitalization of Rp56.2 trillion. Mitratel, the largest telco tower operator, is now bigger than Sarana Menara (TOWR) and Tower Bersama Infrastructure (TBIG).

Thermal coal prices rose 0.12% to US$123.24 per ton on Monday (November 20), but it fell 11.65% monthly and 64.1% year on year (y/y). This price should still make Indonesian coal miners key political players in next year’s legislative and presidential election. 

Whoever wins next year’s election will have to fix serious problems at state engineering, procurement, and construction (EPC) firms. Adhi Karya (ADHI), one of the state EPCs, has just managed to pay Rp289.6 billion bonds due November 18, 2023, but others have been struggling to make payments to creditors.

Shares of telco firm Indosat Ooredoo (ISAT) ended lower by 2.15% to Rp9,100 on Friday (Nov 17) to make a market capitalization of Rp73.4 trillion, more than twice its equity. Still, ISAT is among the best performing stocks with 50% gain year-to-date despite downfall of net profit reported in the first nine months of 2023. 

Cash-rich pulp and paper producer Indah Kiat Pulp & Paper (INKP), member of Sinarmas Group, offered bonds worth Rp1.18 trillion and Islamic bond (sukuk) worth Rp305 billion, used to pay debt and to fund working capital.

Shareholders of PT Vale Indonesia Tbk (INCO) Tbk have on Friday (Nov 17) signed a heads of agreement (HoA) related to the future of the company. Vale Canada Ltd (VCL) and Sumitomo Metal Mining Co Ltd (SMM), among others, agree to divest 14% shares to PT Mineral Industri Indonesia (MIND ID), which currently holds 20% shares.

Coal-mining-service firm Samindo Resources (MYOH), where Low Tuck Kwong owns 14.18% shares, is set to acquire 82% shares in Transkon Jaya (TRJA) from controlling shareholder PT Damai Investama Sukses (37.79%), PT MSJ Investama Abadi (30.06%), PT Aneka (9.95%), and from public investors (21.8%). 

The management of Bank OCBC NISP (NISP) announced on Thursday (November 16) that the bank has signed an agreement to purchase 99% in PT Bank Commonwealth shares from Commonwealth Bank of Australia (CBA).

Once worth billion USD, mining contractor Delta Dunia Makmur (DOID) has been struggling to recover its value for many years. On Thursday (Nov 16), the stock ended slightly higher to Rp384 to make a market capitalization of Rp2.82 trillion or US$180 million only, way below equity (US$261.5 million by Sept 30, 2023).

Shares of shipping and logistic firm Trans Power Marine (TPMA) ended higher by 6.4% on Thursday (Nov 15) as investors responded positively the company’s action in purchasing 79 used tugboats and barges with an investment value of Rp1.2 trillion.