Weaker Q3 for Gajah Tunggal
Compared to the first two quarters of the year, tire manufacturer Gajah Tunggal (GJTL) actually reported higher monthly average sales in the third quarter. Compared to the same period last year, however, the third quarter was significantly weaker.
Chandra Asri & more oil and gas assets
Shares of Chandra Asri Pacific (TPIA) ended higher by 1.75% to Rp7,275 on Friday (Oct 27) as some investors responded positively the company’s entry into retail oil and gas business.
Pertamina Geothermal: Mixed results
Pertamina Geothermal (PGEO) has just released its financial report for the period ended September 30, 2025 where its net profit dropped 22.2% to US$104.3 million despite higher sales revenue growth.
When connectivity serves the connected
When PT Solusi Sinergi Digital Tbk (WIFI) or SURGE — announced its latest partnership with Huawei Indonesia to deliver 5G Fixed Wireless Access (FWA) solutions, beneath the glossy language of digital inclusion lies a familiar political economy. Indonesia’s broadband expansion has long been less about technology and more about access to power — who gets the license, who brings the foreign partner, and who benefits from the rent that follows.
Small coal players & the squeezed margins
Newcastle thermal coal ended slightly lower by 0.1% to US$104.1 per ton last Friday, representing almost 29% fall year-on-year due to subdued demand, especially in China, the world’s largest importer, and ample of supply in seaborne market.
Weaker Q3 for Haji Isam’s PGUN
Shares of Pradiksi Gunatatama (PGUN), an oil palm plantation firm controlled by the family of Haji Isam, ended lower by 8.46% to Rp16,500 on Friday (Oct 24). With market capitalization of Rp94.7 trillion, PGUN remains one of the most expensive stocks in the market.
Weaker Q3 for BNI
Shares of state bank BNI (BBNI) opened higher by 2.65 to Rp4,350 this morning even when the company reported 7.3% fall of net profit to Rp15.1 trillion in Jan-Sep 2025 due to squeezed margins.
Softer Q3 for Dharma Satya
Shares of palm oil and wood producer Dharma Satya Nusantara (DSNG) opened lower by 3% to Rp1,835 this morning on profit taking and upon learning financials of the company until September 30, 2025.
The Scripted Clash in Purbaya vs. Pertamina
The recent public dispute between Finance Minister Purbaya Yudhi Sadewa and Pertamina CEO Simon Aloysius Mantiri, a politician from Gerindra Party, seemed, at first glance, like a rare instance of internal friction within President Prabowo’s administration. Yet, viewed more closely, the episode appears less a spontaneous disagreement than a choreographed display of discipline— a performance meant to signal accountability while consolidating political power within Indonesia’s energy sector.
Layoff and ad spending cut helped Unilever
Unilever Indonesia (UNVR) booked net profit of Rp3.34 trillion in the first nine months of 2025, an increase of 10.8% from the corresponding period last year even when its sales revenues inched up 0.7% only due to weak purchasing power of households.