The Rabobank Group, a Dutch multinational banking and financial services company with its headquarters in Utrecht, has injected USD $35 million worth of capital into its Indonesian subsidiary Rabobank Indonesia. Martyn Schouten, President Director at Rabobank Indonesia, said that the capital injection is carried out to support Rabobank Indonesia’s business expansion in Southeast Asia’s largest economy. He added that the Indonesian unit will play an increasingly important role in international business of the Rabobank Group.
Update COVID-19 in Indonesia: 28,233 confirmed infections, 1,698 deaths (3 June 2020)
03 June 2020 (closed)
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Below is a list with tagged columns and company profiles.
Today's Headlines Agribusiness
Indonesia Investments updated the company profile of Astra Agro Lestari in our Indonesian Companies section. Astra Agro Lestari is Indonesia's largest agribusiness company by value. The company, majority-owned by diversified conglomerate Astra International, is engaged in palm oil and rubber plantations as well as industrial activities. It currently manages a total plantation area of 281,378 hectares - including nucleus and plasma - in Sumatra, Kalimantan and Sulawesi.
The government of Indonesia expects to list two state-owned enterprises on the Indonesia Stock Exchange (IDX) in 2014. Minister of State-Owned Enterprises Dahlan Iskan announced that the two companies involve Perkebunan Nusantara III and Perkebunan Nusantara IV. The main reason behind conducting the initial public offerings (IPOs) is to reap funds for further expansion. The IPO plan needs to be approved first by the Privatization Committee, under the wings of the Ministry of Economy, and then by the House of Representatives (DPR).
Latest Columns Agribusiness
Japfa Comfeed Indonesia, one of the largest and most integrated agri-food companies in Indonesia, is expected to see rising profit in 2016 and 2017 supported by stable prices of raw materials and rising poultry demand. Its corporate earnings in the first nine months of 2016 were impressive. Together, it led to an upgrade in the outlook for the company's future earnings. Meanwhile, S&P Global Ratings also recently raised its long-term corporate credit rating for Japfa Comfeed Indonesia from B to B+.
Indonesia's benchmark stock index (IHSG) rebounded on Tuesday (03/09) amid rising Asian stock indices inflicted by optimism about economic recovery in China and the USA. The IHSG rose 1.53 percent to 4,164.12 points. Agribusiness and mining stocks were the top performers today, while the miscellaneous industry, which fell 0.09 percent, was the only sectoral index on the Indonesia Stock Exchange (IDX) that was down. The rupiah depreciated against the US dollar as investors are concerned about July's USD $2.3 billion current account deficit.
Astra International, Indonesia's largest listed company by market capitalization, presented its Q1-2013 financial results yesterday. The company, which represents the dominating force in Indonesia's automotive sector, posted a seven percent fall in net earnings (YoY) to IDR 4,310 trillion (USD $444.3 million) amid Indonesia's rising labour costs, weak commodity prices, increased competition in the country's car sector and effects of new minimum down-payment regulations in automotive Shariah-financing.
Indonesian companies engaged in the production of a variety of agricultural products, such as palm oil, experienced a rather poor year in 2012 regarding net profit. Global economic turmoil has reduced the world's consumption of palm oil in both the developed markets and developing markets. In particular decreased demand from China, the world’s biggest buyer after India, made a negative impact on the balance sheets of Indonesian companies.