BlackGold Natural Resources Ltd, a company listed on SGX controlled by Kotjo family and some investors, has on September 15, 2017 entered into a heads of agreement (HoA) with various parties to form a new consortium in relation to the development of 2×300 MW coal-fired power plant in Riau province, Indonesia.

Shareholders have yesterday appointed Hendi Prio Santoso, former CEO of the troubled oil and gas company PT Perusahaan Gas Negara Tbk (PGAS), as new CEO of PT Semen Indonesia Tbk (SMGR), the largest cement producer in the country. Hendi replaces Rizkan Chandra, who passed away in July.

When we first revisited Wicaksana Overseas (WICO) in June 2016, the stock was traded at Rp50. At the moment, the stock is traded at Rp382. WICO rallied to Rp492 in July following the entry of Germany company DKSH Holdings AG. This morning, the Company informed market participants about divestment of land and buildings to affiliated party.

China Oceanwide Holdings Ltd, a company listed on HKSE, had granted EPC contract worth US$426 million to SEPC few years back for the so-called Hamparan Perak coal-fired power plant project in Medan Industrial Area, North Sumatra province. Slated for completion in mid 2017, the project’s future is now seriously questioned.

According to its corporate website, Selaras Holdings (PT Selaras Inti Corpora) was established in 2009 with principal business interest in land & real estate development, hospitality, and healthcare. Selaras claims to have 10 portfolio companies and subsidiaries. Who’s behind?

Indika Energy (INDY) is among the best performing stocks with 80% gain year-to-date despite 2.7% correction on Thursday (Aug 31). The Company booked net profit of US$51.2 million in the first half against loss in the same period last year, but the stock is still among those valued below equity.

The Corruption Eradication Commission (KPK) has arrested Siti Masitha Soeparno, mayor of Tegal in Central Java province, from a sting operation. This is another blow to Golkar Party following some party leaders recently named suspects in the mega-scandal e-KTP project. Who is Sitha Soeparno?

Shares of Pollux Properties Ltd were traded at S$0.062 on SGX Monday to make a market capitalization of S$39 million only. Pollux, however, is a company to watch. On July 28, 2017, controlling shareholders, the family of Nico Purnomo Po, ‘injected’ PAI Properties into Pollux through the acquisition of Pollux Alpha Investments Ltd from Pollux Holdings Pte Ltd.

Last Month, PT Danau Winata Indah (DWI), a developer company that develop Avani Condotel in Nusa Dua, Bali entered the period of Suspension of Debt Payment (PKPU). Two creditors namely Adhi Nugraha and Agus Priadi Lumbatoruan filed lawsuit against DWI to the Central Jakarta District Court, registered under the case No.92/Pdt.Sus-PKPU/PN.Jkt.Pst/2017. Both claim that BWI has debts worth Rp1.6 billion and Rp1.7 billion for the purchase of Avani Condotel units.