Rumor from the Directorate General of Oil & Gas
There’s a rumor that the Director General for Oil & Gas I Gusti Nyoman (IGN) Wiratmaja Puja is going to be replaced. Words have it that the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan is going to make some changes after the Eid festivities.
Waiting for Improvements at State Plantations
PT Perkebunan Nusantara III, parent of state plantation companies, is one of the largest companies in Indonesia with total workforce of almost 140,000 people in late 2015. The holding entity controls 1.18 million hectares of plantation concession, of which 817,536 hectares have been planted with oil palm, rubber, tea, cane, coffee, cocoa, tobacco, and other food crops.
Central Omega Resources: Nickel Smelter & Export
Nickel retreated further to US$8793 per ton, reflecting only 5.83% gain year-on-year due to perception of higher supply, especially from new nickel pig iron (NPI) smelters in Indonesia and resumption of low-grade nickel ore export. What about Central Omega Resources (DKFT), one of companies development nickel smelters in the country?
Revisiting Johan Lensa’s J Resources
Shares of PT J Resources Asia (PSAB) Tbk ended lower by almost 2% Wednesday (May 31) as investors responded negatively the Company’s performance in the quarter ended March 31, 2017, where the gold producer reported net profit of US$1.5 million, crashed by 78% from the corresponding period of 2016.
Nursalim’s Business and KPK’s Investigation
Some people speculated whether tycoon Sjamsul Nursalim would sell some of his assets to settle once for all the long disputed obligations surrounding the closure of BDNI almost two decades ago, especially after the Corruption Eradication Commission (KPK) naming Sjafruddin Temenggung, former chairman of Indonesia Bank Restructuring Agency (IBRA), corruption suspect in the issuance of letter of settlement (SKL) 13 years ago.
Comments on the Newly-Appointed SKK Migas Deputy Chief Sukandar
Minister of Energy and Mineral Resources Ignasius Jonan made Sukandar the new deputy chief of the Special Task Force for Upstream Oil and Gas Business Activities on Friday May 26. Sukandar replaces M.I. Zikrullah. He was one of the candidates to replace the then Pertamina Director Dwi Soetjipto but he didn’t make the cut.
New Leaders in Oil & Gas
Minister of energy and mineral resources Ignasius Jonan has on Friday (May 26) inaugurated new leaders at the Downstream Oil and Gas Regulatory Body (BPH Migas) and the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas). Who are they?
Indosat & The Falling ARPU
Indosat (ISAT), second largest telecommunication player, booked net profit of Rp173.9 billion in the quarter ended March 31, 2017, dropped by 19.9% from the corresponding period last year due to squeezed margins. Indosat’s sales revenue actually grew 7%, but operating profit down by 1.9%.
Another Strong Quarter for ANTV, But…
Intermedia Capital (MDIA), immediate parent of TV station ANTV, booked net profit of Rp145.8 billion in the quarter ended March 31, 2017, jumped almost 60% from the corresponding period last year on strong growth in advertising revenues. MDIA posted 46% growth in sales revenues to Rp520.3 billion, significantly stronger than peers—-Media Nusantara Citra (MNCN) and Surya Citra Media (SCMA).
Bukaka/Kalla Targets More Electricity Projects
Talking about Jokowi-Kalla’s signature 35,000 MW program, one should not focus on power generation projects only. There are hundreds of transmission and sub-station projects worth a combined US$19.2 billion, mostly handled by state-owned electricity firm PT Perusahaan Listrik Negara (PLN).