A More Aggressive JAPFA
PT Japfa Comfeed Indonesia (JPFA) Tbk is among the best performing stocks this year, gained 155% year-to-date. The company has just secured a US$110 million facility from Bank Central Asia (BCA) to finance expansion and working capital. JPFA has retreated 19.7% from...
Adijanto Family & Business Empire
The family, like others, was in trouble in late 1990s due to the collapse of banking system. In recent years, the family has expanded its business in coal mining, plantations, and forestry. This family controls at least three companies listed on the Indonesia Stock...
Minang Merchants Network: Who’s Who
It was a busy weekend for Kalla. He was there in his capacity as Vice President. He brought with him several high-profile business & politic leaders of Minangkabau ethnic such as Industry Minister Fahmi Idris and deputy chairman of Regional Representative Council (DPD) Irman Gusman who are also Golkar Party leaders.
ACE Hardware & Kawan Lama
Ace Hardware (ACES) is one of the best performing stocks in the retail business. It gained 40% this year to make a US$400 million company. The company has just opened its 43rd outlet in Bekasi area last month. Ace Hardware is controlled by Kawan Lama Group. Who's...
Ancora Resources, so far
PT Ancora Indonesia Resources (OKAS) Tbk, a company controlled by Investment Coordinating Board Chairman Gita Wirjawan, posted net profit of Rp6.7 billion in the first half of 2010, slashed 70.6% from the same period last year on squeezed margin. The stock, meanwhile,...
Adaro & Affiliated Transactions
Adaro Energy (ADRO) was not even half of Bumi Resources (BUMI) two years ago. Now Adaro is almost twice the size of BUMI by market capitalization. Both emerged out of leveraged buy-outs (LBO). BUMI collapsed due to aggressive expansion of assets through dubious...
Andree Halim & His QAF Ltd
QAF Limited has just released its first half financial results on Singapore Stock Exchange (SGX) with profit after tax of S$27.33 million, declined 13% from the same period last year. QAF is food giant controlled by Andree Halim, son of Soedono Salim (Lim Sioe Liong)...
Mr President and The Joker
Two suspended deputies of Corruption Eradication Commission (KPK) disclosed what might be the reason behind President SBY’s decision to issue the government regulation in lieu of law (Perppu) which basically kicked them out of the anti-graft body’s leadership. They disclosed the flow of funds from The Joker to SBY’s inner circle.
Auditing Firms of Listed Companies
Arthur Andersen collapsed with Enron. Andersen has been subject to much criticism for their role in Enron's collapse, partly on questionable accounting that kept hundreds of millions of dollars in debt off Enron's books. How about auditors of major companies on IDX by...
A private bank named BUMI
PT Bumi Resources (BUMI) Tbk lost another 3.66% yesterday to Rp1840. BUMI is now the top loser in Top 20 stocks on IDX (by market cap) with 24.1% fall so far this year. Endless announcements (claimed to be the most credible) failed to boost investors' confidence. Why?...