Revisiting Agritrade Resources
Agritrade Resources Ltd, a company listed on the Hong Kong Stock Exchange with coal mining and fuel operation business in Indonesia, is an example of resilience of low-calorie coal producers in the country. The Company booked profit after tax of HK$312.52 million from sales revenue of HK$1.44 billion for financial year ended March 31, 2017.
Fresh Pressure on Hary Tanoesoedibjo
National Police will declare status of media mogul and politician Hary Tanoesoedibjo in an alleged threat to Yulianto, the head of the subdirectorate for special crimes investigation of the Attorney General’s Office (AGO), next week. The statement effectively denied earlier statement from Attorney General HM Prasetyo suggesting Hary’s status as crime suspect in the case.
Skybee: From HERO to ZERO
Media billing and ICT retailer PT Skybeen Tbk (SKYB), controlled by the same shareholder of the troubled Trikomsel Oke (TRIO), booked zero sales revenue in the first quarter of 2017. So, no improvement from the corresponding period of 2016. The Company’s total asset was only Rp34.8 billion, crashed from Rp851 billion in December 2011.
Central Omega & Its Growing Optimism
Nickel miner and processor PT Central Omega Resources Tbk (DKFT) predicts net profit of Rp364.7 billion or Rp65 per share next year, jumped from an estimated net profit of Rp163 billion or Rp28.9 per share this year. The current price, accordingly, is seen very cheap with PE multiple 6.4 only. Really?
Tourism Industry: Banyuwangi Marina Project
SUTL Enterprise Limited, a leading integrated marina developer, operator, and consultant and owner of the ONE°15 brand, has signed a Memorandum of Understanding to provide integrated marina consultancy services to PT Pelindo Properti Indonesia (PT PPI) on a marina project in Boom Banyuwangi in East Java, Indonesia, which is currently under construction.
Salim Group Strengthen Grips in Indonesian Water Business
Few months ago, we speculated on possible future action from Anthoni Salim in water business, especially in Indonesia. On Thursday (June 8), Moya Holdings Asia Ltd, indirectly controlled by Anthoni, executed and completed a share purchase agreement for Acuatico Pte Ltd. Moya Holdings acquired Acuatico from Avenue Luxembourg S.A.R.L. and Hagerty Investments Ltd.
Wimboh Santoso, New Chief of OJK
Wimboh Santoso has finally been elected new chief commissioner of the powerful Financial Services Authority (OJK) for the period of 2017-2022 to replace Muliaman Hadad. Wimboh was elected by 50 lawmakers in the House Commission XI, while Sigit Pramono got only four votes. Who is Wimboh?
Anthoni Salim Bags US$164.4 Million from Selling Land to Indofood
PT Aston Inti Makmur (AIM), a subsidiary of Indofood Group, has on Wednesday (June 7) entered into two conditional sale and purchase agreements with Anthoni Salim and PT Adithya Suramitra (ADS), which is also controlled 100% by Anthoni, regarding six plots of land for an aggregate cash consideration of Rp2.19 trillion or US$164.4 million.
Emirsyah Satar: The Lady & Ferrari
On June 3rd, 2016, Emirsyah Satar, former CEO of flag carrier Garuda Indonesia, attended the launching of Range Rover LWB 3.0 & Range Rover Evoque at Lamoda cafe, Plaza Indonesia. He was there as owner of Range Rover and chairman of Range Rover Club Indonesia. Six months later, the Corruption Eradication Commission (KPK) gave him New Year 2017 present as bribery suspect.
Tito’s Maneuvre
The Chief of the National Police (POLRI) General Tito Karnavian has been busy. He hasn’t only been occupied with maintaining security, but also with managing POLRI’s internal matters. Recently Tito put into motion a big job rotation affecting 109 middle and high-ranking Police officer, including the appointment of Insp. Gen. Rycko Amelza Dahniel as the new governor of the the Police Academy (Akpol) to replace Insp. Gen. Anas Yusuf. Some see this as Tito’s consolidation of influence.