JBIC-Japanese Banks in The 35,000 MW Program
The Japan Bank for Internationak Cooperation (JBIC) and Japanese banks like The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Sumitomo Mitsui Banking Corporation (SMBC) continue to dominate financing of power plant projects in Indonesia, including those under Jokowi-Kalla’s ambitious 35,000 MW program.
Endless Pressures on Hary Tanoe
Hary Tanoesoedibjo, businessman-cum-politician, is scheduled for examination as crime suspect by the national police today. In the meantime, some bureaus of Koran Sindo, a newspaper controlled by Hary’s MNC Group, will reportedly be closed down, threatening a mass layoffs of journalists.
Revisiting Sinar Mas Agro (SMAR)
PT Smart Tbk (SMAR), controlled by Sinarmas Group, has just completed placement of 138 million shares to some investors to comply market regulation on minimum 7.5% shares owned by public investors.
New Equity to Watch: Kirana Megatara (KMTR)
Shares of Kirana Megatara (KMTR), one of the largest natural rubber processing companies in Indonesia, fell 18.32% last Thursday (June 22) on profit taking by some investors after the stock gaining more than 100% in the trading debut on Indonesia Stock Exchange (IDX). Started out its trading on IDX at initial public offering (IPO) price of Rp458, the stock then jumped to Rp1,000 on the trading debut.
Hary Tanoe A Crime Suspect: Implications?
The National Police officially named businessman-cum-politician Hary Tanoesoedibjo a suspect on Friday for allegedly intimidating an Attorney General’s Office (AGO) official last year. Hary, chairman of Perindo Party and owner of diversified business group MNC, is also banned from overseas travel.
Another Strong Month for United Tractors
United Tractors (UNTR) sold 302 units of Komatsu construction machinery last month, jumped by almost 69% year-on-year, thanks to strong sales to agriculture (plantation) and mining sector. Sales to forestry sector grew 7.1% year-on-year, but sales to construction sector collapsed 56% to 51 units only
Ridwan Mukti, Bribery & the Wives Club
Investigators from the Corruption Eradication Commission (KPK) have arrested Ridwan Mukti, governor of Bengkulu province in Sumatra Island, and his wife Lily Maddari after the wife reportedly caught accepting cash amounting around Rp1 billion in bribes from a contractor at the governor’s official residence in Bengkulu Tuesday (June 20).
Sawit Sumbermas & Citra Borneo Indah’s Acquisitions
Palm oil producer PT Sawit Sumbermas Sarana (SSMS) Tbk is scheduled to convene an extraordinary meeting of shareholders on July 17, 2017. Detail agenda of the meeting might be known to public this Friday. SSMS is still the most expensive palm oil producer listed on Indonesia Stock Exchange (IDX) despite 17.4% correction from recent peak.
Revisiting BTEK & Cocoa Processing
Shares of cocoa processor and forestry company PT Bumi Teknokultura Unggul (BTEK) Tbk declined further by 1% to Rp910 Monday (June 19). That means the stock already lost 26% its value year-to-date and 41.3% from its peak. Investors responded negatively BTEK’s poor performance in the first quarter.
Aggreko & The Power Rental Business
UK company Aggreko has announced the acquisition of PT Kerta Bumi Teknindo (KBT), a power rental company, as key component of Aggreko’s strategy to expand its operations and investments in Indonesia. The acquisition intensifies competition in the temporary power services business in the country.