FX reserve continues to pick up. Foreign exchange reserve currency (cadev) continue rising. Foreign exchange is USD 111.2 billion in August, in line with Mandiri Securities projections of USD 111 billion to USD 112 billion. The position is the fifth consecutive increase since March.
In general, cadev equivalent to 6.5 months of import value, or 6.3 months of imports and government foreign debt payments, still above the international standard 3 months of imports. (Bank Indonesia).
PT Ciputra Property Tbk (CTRP, Rp720) to prepare capex IDR 1.5 Trillion. CTRP prepare a capital expenditure (capex) of IDR 1.5 trillion (IDR 800 billion to IDR 700 billion for construction and land) project aimed at Rosewood Hotels and Villas in Tabanan, Bali. Construction will start in early 2015 and is predicted to finish in 2 years. (Bisnis Indonesia)
PT Summarecon Agung Tbk (SMRA, Rp1.230, BUY, TP Rp1.550) to issue bonds IDR 700 billion. SMRA will issue bonds worth IDR 700 billion, which will be divided into two types, namely conventional bonds and sukuk. Both will have a tenure of 5 years and a coupon of about 11-12%. Funds will be used for the issuance of land acquisition. (Bisnis Indonesia)
for Indonesia Market Summaries 8 September 2014
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