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Net profit of Perusahaan Gas Negara (PGN), Indonesia's largest natural gas transportation and distribution company, fell nearly 44 percent in 2015 as gas demand from the industry sector collapsed amid slowing economic growth. Weak demand caused sharply falling gas prices. Shares of PGN, a government-controlled company that is listed on the Indonesia Stock Exchange, plunged nearly 50 percent over the past two years amid the global commodity slump. So far this year shares of the company have fallen 4.74 percent.
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Bank Indonesia's decision to cut Indonesia's benchmark interest rate (BI rate) gradually from 7.50 percent at the year-start to 6.75 percent in March should lead to rising credit growth in Indonesia as borrowing costs have become less expensive. Bank Mandiri, Indonesia’s largest financial institution by assets, should see its financial performance improve due to the looser monetary policy. For Trimegah Securities the new context was reason to revise its forecast for net profit and net interest income of Bank Mandiri, a state-controlled entity that is listed on the Indonesia Stock Exchange (the central government owns a 60 percent stake).
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Indofood CBP Sukses Makmur, a leading producer of packaged food products in Indonesia, is estimated to see higher profit and revenue in 2016 supported by the launch of new products (which also strengthens the company's brand) and people's improving purchasing power. Indofood CBP Sukses Makmur, subsidiary of Indofood Sukses Makmur, has five main business segments: noodles, dairy, snack foods, food seasoning, and nutrition & special foods. The company listed on the Indonesia Stock Exchange in October 2010 with ticker symbol ICBP.
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Until 19 March, a Belgian mission - led by Princess Astrid, accompanied by four ministers and 301 participants (including 127 company representatives) - visits Indonesia in an effort to strengthen bilateral economic cooperation between both nations and boost foreign direct investment from Belgium into Indonesia. According to the Belgian Embassy, the ongoing mission in Indonesia is the fifth - and largest ever - economic mission conducted by Belgium in Southeast Asia's largest economy. Belgium is the fifth-largest investor from the European Union (EU).
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The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer.
