Anthoni Salim, CEO of Salim Group, one of the largest business groups in Indonesia, confirmed earlier about his intention to grow financial technology (fintech) services business with significant investment. Anthoni provided no further detail, but the group’s quest to become key player in fintech can be seen in investments in financial and technology ventures.

Two weeks ago we speculated about possible consolidation of Finders Resources Ltd, owner of Wetar copper project in Maluku province, into IDX-listed PT Merdeka Copper Gold Tbk (MDKA). Today, Finders informed Australia Stock Exchange (ASX) that a consortium, where MDKA is a member, has offered an off-market takeover for all of the shares in Finders.

Tan Siong Kie, founder of Rodamas Group (the Group), passed away at 101 years old on Tuesday, October 3rd, 2017. He is father of businessman Mucki Tan Pei Ling, one of the richest men in Indonesia. Rodamas is one of the largest business groups in the country with interest in consumer goods, manufacturing, trading, pharmaceutical, properties, and financial industry.

Shares of Indika Energy (INDY) ended lower by 1.06% Tuesday. The stock has dropped 13.5% from its peak as some investors realized gains (164% year-to-date). Any more upsides from acquisition of additional shares in Kideco Jaya Agung, third largest coal producer in Indonesia, which is expected to complete before Christmas?

Shares of Medco Energi (MEDC), which has interest in oil & gas, gold & copper, coal, and power generation, ended higher by 2.56% to Rp800 Monday (Oct 2nd) as some investors responded positively the company’s financial results for the period ended June 30, 2017. At this price, MEDC has market value of Rp10.45 trillion or 0.8 x equity as at June 30, 2017.

Albertus Peter Batubara, senior politician of PDI Perjuangan, main supporter of President Joko ‘Jokowi’ Widodo has on Friday, Sept 29, passed away in Jakarta. AP Batubara, father of Juliari P Batubara, is long-time head of PDI Perjuangan’s advisory board.

Geo Energy Resources Ltd, an SGX-listed coal producer with operations in Indonesia, informed market participants this morning that its US$300 million Notes offering received around US$1.2 billion demand. This, however, might be understandable in the context of Geo Energy’s fast growing coal output.

PT Pembangunan Perumahan (PTPP) Tbk, a state-owned EPC firm, has through subsidiary PT PP Energi subscribed Rp745 billion of additional capital for PT Meulaboh Power Generation, which builds 2×200 MW coal-fired power plant in Meulaboh, Aceh province. The capital injection paves the way for construction of the US$600 million project under the ambitious 35,000 MW program of Jokowi-Kalla administration.

Pigeon Group, a company listed on the Tokyo Stock Exchange, is among the fastest growing baby and mother care players in the world. In the first half ended July 31, 2017, the Company reported sales revenue growth of 5.9% to 49.05 billion yen, thanks to strong overseas and China business.