Indonesia's Business Competition Supervisory Commission (KPPU) has ordered telecommunication operators Indosat Ooredoo and XL Axiata to provide more details concerning the establishment of their joint venture One Indonesia Synergy. The KPPU suspects that both companies are involved in cartel practices, more specifically the companies are suspected to have breached Law No. 5/1999 on the Ban on Monopolistic Practices and Unfair Business Competition in terms of price fixing, market allocation and output restriction.

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Another sign that the mobile phone market of Indonesia is saturated is that the number of (active) mobile phone numbers has only grown by 1 percent between the end of 2015 and the end of Q1-2016. Previously, we reported that the attractiveness of Indonesia's telecommunications market has been weakened due to sharp competition between operators, slowing profit margins and a saturating voice and SMS services market. However, there remains room for growth in data services and value-added services given Indonesia's still relatively low smartphone penetration (as well as low Internet penetration).

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Three new stocks will enter Indonesia's LQ45 index for the February-July 2016 period. The LQ45 index, compiled by the research and development division of the Indonesia Stock Exchange (IDX), consists of 45 stocks that meet a number of specific criteria. As the stocks listed in the LQ45 are the country's most traded stocks, investors should follow this index. The composition of the LQ45 index is adjusted twice per year (in February and August).

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What were the important corporate news headlines from Indonesia on Thursday 14 August 2014? Below Indonesia Investments presents the daily market roundup. This includes the following companies and topics: XL Axiata, Telekomunikasi Indonesia (Telkom), Kalbe Farma, Telekomunikasi Seluler, Telkomsel, Golden Agri Resources, Matahari Putra Prima, Loop card, Lippo Group, Hypermarts, the Industry Ministry of Indonesia, technology businesses, and the ASEAN Economic Community (AEC).

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The recently launched Investor33 Index has outperformed both the benchmark stock index of Indonesia (Jakarta Composite Index or IHSG), which contains all stocks that are listed on the Indonesia Stock Exchange, and the LQ45 Index, a stock index which contains 45 Indonesian listed companies that fulfil certain criteria. In the first six months of 2014, the Investor33 Index climbed 16.36 percent, whereas the IHSG increased 14.14 percent and the LQ45 Index 15.68 percent.

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Beritasatu Media Holdings in cooperation with the Indonesia Stock Exchange (IDX) officially launched its Index Investor33 on Friday (21/03). This index consists of 33 listed companies at the IDX that share strong fundamentals, assessed through both technical and fundamental analyses. According to Hoesen, Director of Corporate Valuation at the IDX, the 33 companies have influenced the performance of the Jakarta Composite Index (Indonesia's benchmark stock index) considerably in recent years.

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In recent years, the telecommunication sector of Indonesia has been a tough arena for mobile phone operators. In terms of voice services, the once highly prospective industry has become more and more saturated over the years. Amid fierce competition tariffs for mobile phone services have been brought down significantly, while a new group of subscribers (from the poorer segments of society) have limited spending capacity. However, with the introduction of the increasingly popular smartphone, there is still room for growth.

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Indonesia Investments updated the company profile of XL Axiata. The company is one of Indonesia’s leading cellular service providers, offering various types of telecommunication products and services including Voice, SMS, Data, and other mobile telecommunication services to Indonesians through its extensive network in the country. However, Indonesia's telecommunication market has lost some of its glory as the mobile phone market has become saturated while competition remains rife.

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Three Indonesian telecommunication and network providers are considered to have great room for improving their corporate earnings in the second half of 2017. These companies are Telekomunikasi Indonesia, Indosat Ooredoo, and XL Axiata. Reason why these companies should experience a good performance in H2-2017 is Indonesia's "data consumption trend".

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Data and Internet services are now the big engine of growth for the corporate earnings of Indonesia's listed telecommunication and network providers. However, there is only one of such companies that showed great net profit growth in the first half of 2017, to wit Telekomunikasi Indonesia (Telkom). Therefore, Telkom is expected to have raised its market share in the mobile phone market of Indonesia this year.

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The financial performance of Indonesia's listed telecommunication and network providers improved in 2015. Indonesia's three largest listed telecommunication companies Telekomunikasi Indonesia, XL Axiata and Indosat Ooredoo all recorded a better financial performance last year. However, this does not mean all three companies posted net profit. In fact, only Telekomunikasi Indonesia recorded net profit. The other two companies still posted a net loss, albeit their losses were much lower compared to one year earlier. Given that Indonesia's economic growth is expected to accelerate in 2016, these companies should be able to continue growing this year.

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Despite sharp competition, slowing profit margins and a saturating voice and SMS services market, Indonesia’s telecommunications industry still has lucrative prospects as there is still room for growth in data services, value-added services and still relatively low smartphone penetration (as well as low Internet penetration). However, of the big three Indonesian telecommunication network and services providers - Telekomunikasi Indonesia (Telkom), XL Axiata and Indosat - only Telkom managed to post net profit over 2014.

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