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.

Desy Sulistio Hidayat (Siem Giok Hwa), considered key person behind transformation of Sido Muncul (SIDO) from a small-scale producer of traditional herbal drinks (jamu) into Indonesia’s market leader for herbal products, has passed away Thursday. She leaves behind five children and 13 grandchildren, who are mostly working in Sido Muncul.

Pretty much as predicted, state-owned power utility company PT Perusahaan Listrik Negara (PLN) has through its subsidiary PT Indonesia Power entered into partnership with one consortium previously competed in the controversial tender for the development of 2×1,000 MW coal-fired power plant in Cilegon, Banten province, otherwise known Jawa-5 project.

A plan to build new legislative building continues to spark controversies. Leaders of the House of Representatives (DPR) insist that President Joko ‘Jokowi’ Widodo has approved the Rp1.6 trillion project, but some political parties recently changed their minds, calling the project not urgent this time around.

Mitsui Chemicals Agro Inc (MCAG) has recently signed agreement with shareholders of PT Agriculture Consruction (Agricon), a leading agrochemicals company in Indonesia, wherein the Japanese company acquired 30% shares of Agricon’s subsidiary PT Agriculture Construction Indonesia (AGCI). This marks the first investment of MCAG in the country.

Shares of Golden Agri-Resources Ltd, the largest palm oil producer listed on SGX controlled by Sinarmas Group, ended flat Monday (Aug 14) even though the Company reported strong sales revenue and improved operations. Golden Agri is now traded below equity due to its persistent low return on equity (ROE).

Blackberry used to rule the Indonesian smarthphone market. In a relatively short period of time, however, Blackberry lost ground to Apple, Samsung, Asus, and some Chinese brands. In recent years, interestingly, Blackberry expected more from Indonesia to support its business recovery. That’s why Blackberry CEO John Chen’s meetings with senior government officers yesterday in Jakarta deserved attention.

China Jinjiang Environment Holding Company Ltd, a leading waste-to-energy (WTE) operator in China but listed on Singapore Exchange (SGX), has decided to expand in Indonesia with the establishment of two companies. These companies are expected to tap the growing need for waste-to-energy facilities in Indonesia.