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View all search resultsAs Google-parent Alphabet Inc became on Thursday the fourth US company to top a market value of more than US$1 trillion, some funds holding its shares are wondering whether now is the time to cash in on the stock's extraordinary gains.
The rapid rise and sudden collapse of a few tech companies has raised questions about the sanity of the stock market and investor valuation, which appeared to assign higher values to tech companies the more their losses mounted.
The recent WeWork case was a much-needed wake-up call. Adopting an aggressive burn rate to temporarily stretch gross merchandise value and market share is no longer a sound pitch to investors.
With gross merchandise value increasingly becoming the metric to value online retail businesses in their initial stages, venture capitalists and economists are now warning of the sustainability of such valuations.
Newly established state-owned gas subholding company PT Perusahaan Gas Negara (PGN), which acquired 51 percent shares in Pertagas, a subsidiary of state energy giant Pertamina, on Friday must disburse US$1.2 billion, according to a public auditor assigned to valuating the shares.
The Indonesian Chamber of Commerce and Industry (Kadin) has advised the government not to bow down to the wishes of the United States’ Freeport McMoRan, the parent company of PT Freeport Indonesia, which had rejected the government’s proposal on its divestment scheme.
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