Tugu Insurance (TUGU) Recorded 29.2% YoY Net Profit Decline in 9M25

Indonesia Ready to Repay Whoosh Loan at IDR 1.2 Tn Annually 
President Prabowo Subianto stated that Indonesia is ready to repay the Jakarta–Bandung High-Speed Rail (Whoosh) loan to China at IDR 1.2 tn/year. The govt. confirmed there are no issues with China regarding the loan repayment, while state investment firm Danantara continues to negotiate technical financing terms with Chinese counterparts. Prabowo affirmed Indonesia’s fiscal capacity to meet its obligations and announced plans to expand railway projects beyond Java—particularly in Sumatra, Kalimantan, and Sulawesi—to enhance connectivity and reduce national logistics costs. (Kontan)

Tugu Insurance (TUGU) Recorded 29.2% YoY Net Profit Decline in 9M25 
TUGU booked net profit of IDR 594.82 bn in 9M25, down 29.2% YoY from IDR 840.45 bn after restatement under PSAK 117. The decline was mainly due to accounting adjustments rather than weaker operations, as underwriting, investment, and subsidiaries remained solid. Insurance service revenue reached IDR 5.97 tn with insurance service result at IDR 682.63 bn (– 31.8% YoY), while investment income rose 21% to IDR 509.05 bn. Total assets grew 19.7% to IDR 32.12 tn, and equity increased 4.4% to IDR 10.93 tn, reflecting strong financial resilience despite the new accounting standard impact. (Kontan) 

Kawasan Industri Jababeka (KIJA) Posted 22% YoY Marketing Sales Growth as of Sep-25 
KIJA booked marketing sales of IDR 2.92 tn as of Sep-25, up 22% YoY from IDR 2.4 tn, achieving 83% of its FY25 target of IDR 3.5 tn. The Co. attributed the growth to strong investor demand in both Cikarang and Kendal industrial estates, supported by macroeconomic stability and Kendal’s status as a Special Economic Zone (KEK). Kendal contributed IDR 2.02 tn mainly from sales to rubber, building materials, and furniture sectors, while Cikarang recorded IDR 896 bn from industrial, residential, and commercial properties including data centers and personal care projects. (Kontan) 

Waskita Karya (WSKT) Secured IDR 5.6 tn New Contracts in 10M25 
WSKT booked new contracts of IDR 5.6 tn in Jan–Oct25, dominated by water resources projects supporting national food and energy resilience. The Co. managed 65 ongoing projects including toll roads, LRT, and 28 dams, focusing on lean construction and BIM efficiency. (Kontan) 

J Resources Asia Pasifik (PSAB) to Record USD 309 Mn Gain from Doup Gold Mine Divestment 
PSAB expects to book a divestment gain of USD 309 mn from the sale of its subsidiary PT Arafura Surya Alam, operator of the Doup gold mine. Following the transaction, PSAB’s debt-to-equity ratio will improve from 0.98x to 0.54x. The deal involves United Tractors (UNTR), through its subsidiaries PT Danusa Tambang Nusantara and PT Energia Prima Nusantara, acquiring 100% of PT Arafura Surya Alam from PSAB’s unit PT J Resources Nusantara.(Company) 

Harum Energy (HRUM) Subsidiary Crackdown: Satgas PKH Led by Menhan Sjafrie Shuts Down Illegal Mine in Kutai Kartanegara 
Indonesia’s Forestry Area Enforcement Task Force (Satgas PKH), under the direction of Defense Minister Sjafrie Sjamsoeddin, shut down an illegal coal mining site operated by PT Mahakam Sumber Jaya (MSJ), a subsidiary of Harum Energy Tbk (HRUM), owned by businessman Kiki Barki. The 116.9 ha site, located in Kutai Kartanegara, East Kalimantan, was declared operating without proper legal permits. The operation was attended by East Kalimantan Governor Rudy Mas’ud and top regional officials, marking a coordinated effort to curb illegal mining. (Inilah.com)