Stronger Q3/17 for Medco
Medco Energi (MEDC) is among the best performing stocks with 188% gain since January 2017. Still, at the current price, MEDC is valued below its equity as at Sept 30, 2017, despite strong financial performance. In third quarter ended Sept 30, the Company booked net profit of US$83.65 million, bigger than the first six months of 2017.
Big Groups in Financial & Technology Ventures (3): Astra
Astra International (ASII) is one of the largest business groups in Indonesia with diversified interest in agriculture, automotive, banking, micro and consumer financing, heavy equipment, property, construction, mining, toll road, water infrastructure, port, and information technology (ICT). Like other major business groups, Astra has actually invested significantly in e-commerce in the past few years.
Djoko Setiadi: The Cyber Agency Boss
President Joko ‘Jokowi’ Widodo has installed Djoko Setiadi as chief of the newly established Cyber Body and National Encryption Agency (BSSN), a powerful agency reported directly to the President. It is a merger of the country’s national encryption agency and directorate general of Application and Informatics at Ministry of Information & Communication.
Brantas Abipraya
The Ministry of Public Works and Public Housing (Kemen-PUPR) is working on some improvements with the Jakarta Presidential Palace’s drainage system to minimize flood risk. This construction work is done by State-Owned company PT Brantas Abipraya. PT Brantas Abipraya is an interesting company to discuss.
Revisiting Sawit Sumbermas & Related Party Transactions
Sawit Sumbermas (SSMS) is among the highly valued stocks in the plantation sector. At the last quoted price, SSMS was valued 3.5 x equity, more than twice of established player Astra Agro Lestari (AALI), which was valued 1.4 x equity only. Unlike AALI, which lost 23% year-to-date, SSMS gained slightly by 3%.
Risco-Tap Oil Conflict Continues
Conflict between Risco Energy, a company controlled by Indonesian businessman Rizal Risjad, and the management of ASX-listed oil and gas company Tap Oil Ltd, continued. Executive chairman and two non-executive directors of Tap Oil informed ASX this morning that they do not accept reasons for the removal of James Menzies and Peter Mansell as directors.
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.