New Renewable Energy Players: Who’s Who (1)
State-owned electricity provider PT Perusahaan Listrik Negara (PLN) and ministry of energy & mineral resources have on Monday engaged three groups linked to French companies in the development of wind farm and solar power plants with combined investments of US$336.9 million. Who are they?
The Businesses of Jokowi’s Children (2)
Instagram account of Chilli Pari, a catering service owned by Gibran Rakabuming Raka, eldest son of President Joko ‘Jokowi’ Widodo, posted the inauguration of new outlet of Markobar stuffed pancake at Transmart Solo, Central Java last week. Chairul Tanjung, owner of TransCorp, and his wife were seen in the picture with Gibran.
The Businesses of Jokowi’s Children (1)
Kaesang Pangarep, the youngest son of President Joko ‘Jokowi’ Widodo, has just opened the first outlet of his Sang Pisang banana nugget at the food court of ITC Cempaka Mas Saturday (Dec 9). Kaesang, the most popular among siblings, followed his brother Gibran in food business, popular with Chilli Pari catering services and stuffed pancake Markobar.
IFC & Its Indonesian Investments/Projects
Wintermar Offshore (WINS), an offshore logistic provider, is among the best performing stocks with 53% gain year-to-date. At the last quoted price of Rp336, however, the stock is still way below the price paid by International Finance Corporation (IFC) three years ago.
Revisiting Bumi Resources
Bumi Resources (BUMI), the largest coal group in Indonesia, booked net profit of US$263.8 million in Jan-Sep 2017, skyrocketed 261% from the corresponding period last year due to stronger performance of coal producing subsidiaries PT Kaltim Prima Coal, PT Arutmin Indonesia, and PT Darma Henwa Tbk (DEWA), falling interest charges, write-off of tax, and settlement on debt restructuring.
Coal Group to Watch: Borneo Pacific Global
National media reported today that PT Borneo Pasifik Global sets aside US$50 million of capital expenditures next year for the acquisition of three coal mining permits (IUP) in South Kalimantan. The group also plans to double its production next year.
Revisiting BFI Finance
Consumer finance and leasing company PT BFI Finance Indonesia Tbk (BFIN) is among the best performing stocks with 100% gain year-to-date. It is also one of the most profitable companies in the industry with net profit of Rp842 billion in the first nine months of 2017, surged by 52% from the corresponding period last year.
Those Continue to Expand: Pupuk Kaltim
PT Pupuk Kalimantan Timur (Pupuk Kaltim), a subsidiary of state-owned fertilizer holding company PT Pupuk Indonesia, is among the most profitable companies in Indonesia. Like other state companies, Pupuk Kaltim continues to expand its production capacity for ammonia, urea, and compound fertilizers. In 2015-2016, the Company invested nearly Rp2 trillion of its cash in investing activities, mostly to procure new factories.
Salim Group & The Future of META (4)
Metro Pacific Investments Corp (MPIC), a company co-owned by Salim Group, has finally confirmed our earlier reports about acquisition of 47.08% shares in PT Nusantara Infrastructure Tbk (META) for US$132 million. The Philippines media quoted Rodrigo E Franco, CEO of MTPC, saying the acquisition will support the current management in its future growth.
IPO to Watch: Panca Budi
Plastic producer PT Panca Budi Idaman Tbk has kicked off initial public offering (IPO) of 738.8 million shares, proceeds of which will mostly be used to expand production capacity of factories. PT Bahana Sekuritas, PT BCA Sekuritas, and PT CIMB Sekuritas Indonesia are underwriters of the IPO.