Plantation firm Bakrie Sumatera Plantations (UNSP) booked a profit attributable to owners of Rp249 billion in the first half (H1) of 2023, fell 25.8% year on year (y/y) as the Company only recorded other income of Rp32 billion only in said period, compared to Rp864 billion a previous year.

Shares of nickel producer Merdeka Battery Materials (MBMA), co-owned by Saratoga Group, Provident Capital, and Garibaldi ‘Boy’ Thohir, ended substantially lower by 5.85% last Friday to make a market capitalization of Rp86.9 trillion. The stock has fallen 12% from recent peak, among others due to less convincing results in the first half.

Shares of e-commerce platforms GOTO (parent of Tokopedia), BUKA (bukalapak.com), and BELI (parent of blibli.com) moved in narrow range this morning (Sep 29) as investors are not convinced that the new e-commerce regulation, which might slowdown the growth of social commerce platforms like TikTok Shop, Facebook Shop, and Instagram, won’t necessarily benefiting them.

Coal miner Golden Energy Mines (GEMS), owned by Sinar Mas Group, said its subsidiaries–PT Borneo Indobara (BIB) and PT Barasentosa Lestari (BSL)–obtained a loan facility of Rp2.2 trillion from Bank Rakyat Indonesia (BBRI) for 12 months period.

Pretty much as predicted, property developer Agung Podomoro Land (APLN) has decided to offload more assets as part of deleveraging program. APLN through its subsidiary PT Tiara Metropolitan Indah (TMI), has recently sold the Neo Soho Mall assets, located in West Jakarta, to PT NSM Assets Indonesia for Rp1.44 trillion value.

Shares of Darma Henwa (DEWA), owned by Bakrie Group, dropped 7.8% to Rp71 per share on Tuesday (September 26) as the company dismissed speculation on an acquisition by Anthoni Salim. DEWA has gained 34% year to date, inline with its improvement on earnings. At current price, DEWA is valued at Rp1.5 trillion.

Shares of shipping firm Berlian Laju Tanker (BLTA) was traded flat at Rp50 per share on Tuesday (September 26), to make market capitalization of Rp1.17 trillion. BLTA, once one of the largest shipping firms in the country, has been priced Rp50 since April 1, 2019, making no gain this year even though the Company recorded a jump in revenue and profit for the first half (H1) of 2023.

Shares of Harum Energy (HRUM), a coal miner investing more in nickel industry in the past few years, ended substantially lower by 4.67% on Tuesday (Sep 26) just when the company announced the acquisition of remaining shares in PT Infei Metal Industry (IMI) for US$70.38 million.