Thursday, August 28, 2014

Indonesia Market Summaries 28 August 2014

PT Pertamina re-opened the tap of subsidized fuel. This means that the use of subsidized fuel control process carried out by Pertamina to reduce the distribution of premium 5% and subsidized diesel 15% to 20% since August 18 has stopped. Marketing and Commercial Director of Pertamina, Mr Hanung Budya said, without any control of subsidized fuel, fuel subsidy quota this year of 46 million kiloliters will be exceeded. Pertamina predicts, the quota of fuel subsidy will be at 1.3 million to 1.5 million kiloliters. (Kontan)

PT Energi Mega Persada Tbk (ENRG, RP 90) exploring a new loan to pay off short-term debt of $ 250 million. Parties to the company said it is looking for a new loan with low interest to save the burden to be borne by the company. President Director of PT Energi Mega Persada Tbk (ENRG), Imam Agustino said that the loan is expected to be obtained before the end of 2014. (Bisnis Indonesia)

PT Berau Coal Energy Tbk (BRAU, Rp111) intentions to boost coal production this year,  finally approved by the government. Ministry of Energy and Mineral Resources (ESDM) finally provide the additional quota of BRAU production to as much as 1.85 million tons to 24.2 million tons. (Kontan)


PT Semen Indonesia Tbk (SMGR, Rp 16.400, BUY, TP Rp 18.300) will conduct its financial efficiency. The trick is, issuers run cash pooling system, which is to manage the entire financial surplus (excess cash) of its operational company to one financial container in the holding company. (Kontan)


for Indonesia Market Summaries 28 August 2014

Wednesday, August 27, 2014

Indonesia Market Summaries 27 August 2014

The dispute between the PT Newmont Nusa Tenggara with the Indonesian government in the International Arbitration Court officially ended. Newmont through its parent company - Newmont Mining Corporation - has revoked the lawsuit. This revocation was announced through the official website of Newmont Mining Corporation on Wednesday, August 27th 2014 (Kontan)

PT Bakrieland Development Tbk (ELTY, USD 50) claimed to have received interest on convertible bonds issued by PT Madison Global. The interest should be paid on August 7, 2014, PT Madison Global as an affiliated parties has not received payment to date. (Kontan)

The potential rise in interest rates of Federal Reserve (The Fed) in coming year believed would trigger an increase in the BI Rate by 50 bps to a level of 8%. However, a number of the optimistic performance of national banks in 2015 will be better than this year. (Bisnis Indonesia)

Once exposed to the suspension over a significant increase, the authority Indonesia Stock Exchange (IDX) opened padlock stock trading PT ICTSI Jasa Prima Tbk (KARW, Rp 215) Wednesday, 27 August 2014. According to official information from IDX, transactions for KARW stock re-opened as of the first trading session today. Shares of the company closed down -9.66% today. (Kontan)

PT Smartfren Telecom Tbk (FREN, RP70) prepared to pay interest on bonds worth IDR 12.06 billion. The bonds worth IDR 675 billion. FREN provide 12.375% fixed interest per year. The bond matures on March 15, 2012. (Kontan)


for Indonesia Market Summaries 27 August 2014

Tuesday, August 26, 2014

Indonesia Market Summaries 26 August 2014

PT Nusantara Infrastructure Tbk (META, Rp 209) targets 25% revenue contribution from telecommunication tower by 2017. META owned 500 Base Transceiver Station (BTS) towers per July and intends to add 350 towers again until the end of the year.

Revenue from the toll road is still at 89% of total revenue in the first quarter of 2014. META also participated in this divestment plan tower of PT XL Axiata Tbk (EXCL, Rp 5.675, BUY, TP Rp 6.900). (Bisnis Indonesia)


PT Metrapolitan Land Tbk (Metland, MTLA, Rp421) to develop CBD in Cileungsi.  The development comprises of apartments, offices, malls, and hotels in Cileungsi, Bogor, on an area of ​​15 hectares. The company  predicted the total development time for 5-10 years. The first phase of construction on 2.5 hectares of land targeted for completion in 2015 and began operations in 2016. (Investor Daily)

Issuer of coal companies are busy to restructure their debt maturities under 5 years old. Some of these include PT Delta Dunia Makmur Tbk (DOID, Rp 207), PT Berau Coal Energy Tbk (BRAU, Rp 111), and PT Bumi Resources Tbk (BUMI, Rp 201). (Bisnis Indonesia)

Profidence Capital Partners - a US-based private equity fund- is rumored to be taking part in the auction tower of PT XL Axiata Tbk (EXCL, Rp 5.725, BUY, TP Rp 6.900). Another auction participants are PT Tower Bersama Infrastructure Tbk (TBIG, Rp7.675, BUY, TP Rp7.200) and PT Solusi Tunas Pratama Tbk (SUPR, Rp9.900). (Investor Daily)

Shareholders of PT Cipta Marga Nusantara Persada Tbk (CMNP, Rp 4.180) allegedly taken over PT Cipaganti Citra Graha Tbk (CPGT, Rp 111). CMNP shareholder is considered to have closeness with founder of Koperasi Cipaganti Karya Guna Persada. (Investor Daily)

for Indonesia Market Summaries 26 August 2014

Indonesia Market Summaries 25 August 2014

PT Acset Indonusa Tbk (ACST, Rp 3.245) intends to expand its business into two new segments. Both are rental and sales of construction and heavy equipment; rental and sales of tower crane and passanger hoist. (Investor Daily)

The value of the acquisition of two subsidiaries, PT Benakat Integra Tbk (Bipi, Rp 121) by PT Saratoga Investama Sedaya Tbk (SRTG, Rp 5.000) fell to USD 60 million from the initial USD 78.5 million. The value of the purchase by SRTG subsidiary - Interra Resources Ltd - is based on consideration of oil reserves. (Investor Daily)

The new government Jokowi-JK intends to increase high-level income tax, above 500 million per year. The new government also intends to grant tax amnesty for entrepreneurs who intend to bring home money from abroad. It is not yet fully confirmed because there are pros and cons. (Kontan)

PT Bumi Resources Tbk (BUMI, Rp 196) of Bakrie Group, get approval from its subsidiary bondholders to extend the repayment period up to 2018. The Bondholders of BUMI subsidiary named Enercoal, also agreed to decrease to 6% coupon bonds of the previous 9 5%. (Kontan)

Issuers of industrial land, PT Surya Semesta Internusa Tbk (SSIA, Rp 835) considering to take loan from a number of local and foreign banks  amount of USD 126 million, equivalent IDR 1.46 trillion. The Funds will be use to rebuild the SSI Tower office building in Jakarta. (Bisnis Indonesia)

Asia Link Pte Ltd and issuers pay TV of Lippo Group, PT First Media Tbk (KBLV, Rp. 2,200) intends to release its subsidiary, PT Link Net Tbk (LINK, Rp 6.650) through private placements. If the release is realized as much as 1.82 billion shares (60%), the potential of fund obtained by both shareholder is IDR 12.1 trillion. (Bisnis Indonesia)

for Indonesia Market Summaries 25 August 2014

Friday, August 22, 2014

Indonesia Market Summaries 22 August 2014

21.4km, US$300mn Depok - Antasari toll road concession may be signed end of this month. Depok - Antasari toll road concessionaires was the  PT Citra Marga Nusaphala Persada Tbk (CMNP, Rp 4.270), PT Waskita Karya Tbk (WSKT, Rp 930, NEUTRAL, TP Rp 600), PT Pembangunan Perumahan Tbk (PTPP, Rp 2.470, BUY, Rp 2.100 TP) and PT Karya Hutama.

Construction will likely be carried out for members of the concession holders, except CMNP. The first phase of land acquisition has reached 65% of target and groundbreaking has been done on May 2014. Traffic figure is predicted to reach 47,000 per day. (Investor Daily)

PT Telekomunikasi Indonesia Tbk (TLKM, Rp 2.690, BUY, TP Rp 2,900) to invest IDR 1 Trillion to the Middle East. The Company plans to invest IDR 1 trillion to expand into the Middle East at the end of 2014, which will begin with a Mobile Virtual Network Operator (MVNO). (Investor Daily)

PT Bumi Serpong Damai Tbk (BSDE, Rp 1.640, BUY, TP Rp 2,000) to expand in Second Semester of 2014. The Company has budgeted capital expenditure (capex) 1.2 trillion for the second semester of 2014. Some of the company's projects in the period that includes the launch of a new cluster in the Grand Wisata Bekasi and Kota Wisata Cibubur, also home and commercial building projects in Manado and Balikpapan. (Kontan)

PT Darma Henwa Tbk (DEWA, Rp 50) targeting the port operator company. This was done to smooth the intention of the company into an integrated mining services company. (Investor Daily)

for Indonesia Market Summaries 22 August 2014

Indonesia Market Summaries 21 August 2014

PT XL Axiata Tbk (EXCL, Rp 5.700) gain a net loss in the first semester of 2014 worth IDR 482,52 billion, fell from net profit in the first semester of 2013 worth IDR 670,43 billion. The net loss is due to the operating expenses, IDR 11,13 trillion, raised 23.26% from the first semester of 2013 of operating expenses, IDR 9,03 trillion. (Bisnis Indonesia)

PT Elnusa Tbk (ELSA, Rp695) established two new subsidiaries in the oil and gas sector to boost its performance. Specifically, these subsidiaries provide operational support services activities engaged in the energy field, including companies in the oil and gas sector. The subsidiary is fully owned by ELSA, 99.99% . (Kontan)

Otoritas Jasa Keuangan (OJK) is preparing three draft regulations on the finance company that is expected to rise in the near future. The three draft are RPOJK (draft regulations of OJK) on Business Licensing and Institutional of Financing Company, RPOJK on the Implementation of the Business and Finance, and RPOJK on Good Governance for Financial Services. (Bisnis Indonesia)

Indonesia Stock Exchange (IDX) labeled the stock of PT Maskapai Reasuransi Indonesia Tbk (MREI, Rp 5.900) as unusual market activity (UMA). This is because the stock is rising out of the ordinary compared to the previous period. On August 14, the company's shares are at Rp 3.100 and up until this day never reaches Rp 6.900. (Kontan)

PT Multipolar Tbk (MLPL, Rp795) net income in the first semester of 2014 dropped by 95.67% over the same period last year (year-on-year). Net profit of the issuer owned by the Lippo Group, June 2014 stood at only IDR 63.85 billion. (Kontan)

for Indonesia Market Summaries 21 August 2014

Wednesday, August 20, 2014

Indonesia Market Summaries 20 August 2014

PT Kustodian Sentral Efek Indonesia (KSEI) will make it easier for potential investors to buy shares of the issuer that are being held an initial public offering (IPO). "On the Future, we want the investors to buy IPO shares through ATM using AKSes Card," said Heri Sunaryadi, Director of KSEI. (Kontan)

PT Pemeringkat Efek Indonesia (Pefindo) confirms the idAA rank for bonds issued by PT Summit Oto Finance (SOFN). Bonds that are ever issued is Bond IV / 2010 D series, which will due on October 28, 2014 amounting to IDR 300 billion.

The SOFN readiness to pay off maturing bonds are supported by cash and cash equivalents that at the end of June 2014 amounted to  IDR 357,6 billion and unused credit facilities amounting to IDR 6.8 trillion. (Bisnis Indonesia)

President-elect Joko Widodo will focus on priority programs in education and health, such as Indonesia Smart Card and Card Healthy Indonesia, for the coming reign. This is because the State Budget draft (RAPBN 2015) does not provide sufficient fiscal space to work on major programs. (Bisnis Indonesia)

PT Bank Victoria Tbk (BVIC, Rp 125) reported loan disbursements in the first semester of 2014 reached IDR 96 billion. "As of June 2014, total loans of IDR 96 billion, the CAGR of 18.6% from December 2011," said Deputy CEO of Bank Victoria, Mr Anthony Soewandy in Jakarta, (inilah.com)

for Indonesia Market Summaries 20 August 2014

Tuesday, August 19, 2014

Indonesia Market Summaries 19 August 2014

The government plans to limit coal production in 2015-2030.
Quota is likely set at 425 million tons/year. In addition, domestic consumption of coal is assumed to be 98 million tons/year and up 8%/year. The policy will be introduced in October 2014. (Kontan)

PT Indosat Tbk (ISAT, Rp 3.885) ongoing plans to issue bonds of worth a total of IDR 10 trillion. For the first phase, the company will issue bonds worth of IDR 2 trillion to 3 trillion. Funds from the bond issuance will be used to restructure debt and fund capital expenditures. (Bisnis Indonesia)

Otoritas Jasa Keuangan (OJK) preparing a draft of six rules of Sharia Capital Market which is expected to be completed before the end of 2014. The rules were set up to facilitate the issuance of Sharia securities in the capital markets. (Bisnis Indonesia)

PT Pembangunan Jaya Ancol Tbk (PJAA, Rp1,200) intends to build an international recreation parks worth IDR 1.6 trillion, that is conveniently located next to the Dunia Fantasi, Ancol. Construction began in 2016 and will start operating in 2018. (Bisnis Indonesia)


for Indonesia Market Summaries 19 August 2014

Monday, August 18, 2014

The 22nd Indonesian International Motor Show (IIMS 2014)

The year of 2014 will be a crucial year for the development of the global automotive industry. The predicted world vehicle sales will reach 85 million units. While the national automotive market was projected to have significant potential for growth.


 Gabungan Industri Kendaraan Bermotor Indonesia (Gaikindo) has an ambition to bring Indonesia's automotive industry being the largest in Southeast Asia. The achievement of national automotive production and sales in 2013, which reached 1,229,903 units, the association said sales target to penetrate target figure of 1.1 million units.

Implementation of the Indonesia International Motor Show (IIMS), will be a barometer of the passion and the purchasing power of the domestic market because it is able to attract the attention and curiosity of the public on the development of Indonesia's automotive industry. Various products with the latest technology that is present in the IIMS 2013 was recorded successfully. IIMS attracted 373,661 visitors, and managed to record a transaction value of more than IDR 4.9 trillion. 

Enhance the Quality of IIMS 2014

In this implementation of IIMS 22nd, the committee will focus on quality, improvement and maximization in all elements of the exhibition IIMS 2014. such as:
  • Innovate and anticipate the needs of increasing event area
  • Optimizing the use of event area in the same venue and raise occupancy of area use by 10% from last year.
  • Able to meet the expectations of participants IIMS 2014.
  • Facilitate visitors with easy transportation to and from IIMS 2014, more exhibition area and excellent programs of IIMS 2014.
The 22nd Indonesian International Motor Show (IIMS 2014) is scheduled to take place on 18 to 28 September 2014. Gaikindo will collaborate Dyandra Promosindo to organize the biggest automotive exhibition. Dyandra has launched the program for the Agent licensee (APM) of GAIKINDO members on Wednesday, January 8, 2014.

Like the previous exhibition, all APM expressed its readiness to show it's creativity in technology, products, and the newest innovation in IIMS 2014. A total of 38 brand of Gaikindo members consist of 29 passanger cars and 9 commercial vehicles  will again participate in IIMS 2014.

The IIMS 2014 will occupy the entire area of ​​the hall, Hall A, B, C, and D, as well as the entire outdoor area of JIExpo - Kemayoran.

for Indonesia Market Summaries

Indonesia Market Summaries 18 August 2014

PT Semen Indonesia Tbk (SMGR, Rp16.625, BUY, TP Rp18.300) targeting revenue growth of 120% for the second semester of 2014 compared to the previous semester. The Company is optimistic that the target can be realized due to the company's production lines have to meet national demand for cement. (Bisnis Indonesia)

PT Pembangunan Jaya Ancol Tbk (PJAA, Rp1.195) intends to build a recreational park in Solo and Cibodas. Nevertheless, the company still has not received permission from the local government to build a recreational park in Cibodas. (Kontan)

MDS Investment Holding Ltd. controls 25.6% of PT Prime Gapuraprima Tbk (GPRA, Rp371). MDS collecting GPRA shares since July. On July 14, MDS buy 15.4% of GPRA stake from International Leasing & Investment Company from Kuwait. In late July, MDS buy another 10.2% of GPRA stake from PT Citra Abadikota Persadana. (Investor Daily)

PT Media Nusantara Citra Tbk (MNCN, Rp 2,900) intends to increase the loan to $ 250 million from the initial amount of $ 150 million which the company acquired from Deutsche Bank and Standard Chartered. The plan was carried out by taking the greenshoe option. (Investor Daily)


for Indonesia Market Summaries 18 August 2014

Friday, August 15, 2014

News Market 14 August 2014

PT Intiland Development Tbk (DILD, Rp 498) to prepare capex IDR 800 bn. DILD will prepare a capital expenditure (capex) of about IDR 700 billion to IDR 800 billion in the second semester of 2014 for construction projects such as property and land acquisition in TB Simatupang and Office Tower Spazio. Source of funding through internal funds and bank loans amounting IDR 350 billion to IDR 400 billion. (Investor Daily)

PT Semen Indonesia Tbk (SMGR, Rp 16.550, BUY, TP Rp 18.300) to create 4 new subsidiaries in 2014. SMGR is preparing the establishment of four new subsidiary company in the field of property, infrastructure, power plant, and precast concrete. The four companies will be set up at 014 to compete with the global cement companies like Lafarge, Cemex and Holcim. (Kontan)

PT Adaro Indonesia Tbk (ADRO, Rp 1.285, BUY, TP Rp 1.450) reports increase is in coal production for 1H14. ADRO reported coal production of 27.83 metric tons (mt) in the first semester of 2014, up 11.6% compared to the first semester of 2013 amounted 24,94mt.
The increase came from Balangan mine which start production in the second quarter of 2014. In addition, the coal production of Balangan is predicted to reach 1mt this year. (Kontan)


for Indonesia Market Summaries 8 August 2014

Indonesia Market Summaries 15 August 2014

PT Asuransi Jiwasraya Management rejected acquisition plan by PT Bank Rakyat Indonesia Tbk (BBRI, Rp 10.825, BUY, TP Rp 12.850). Jiwasraya questioned the urgency of annexation among state-owned company (BUMN) because the company's performance has started to rise and have recovered from financial difficulties. (Bisnis Indonesia)

PT Telekomunikasi Indonesia Tbk (TLKM, Rp 2.755, BUY, TP Rp 2,900) plans to invest 200 million dollars, or about IDR 2.3 trillion into the digital creative industries sector. One that will do is invite the cooperation of several companies in Silicon Valley.
One of them is Fenox Venture Capital. In this partnership, Telkom investments made ​​through the efforts of its subsidiary, Metra Digital Investama. (Kompas)

PT Perusahaan Gas Negara Tbk (PGAS, Rp 5.850, BUY, TP Rp 6.650) put gas refueling facilities including mobile refueling unit (MRU) in Pluit reservoir area, North Jakarta. The facility is expected to facilitate user to get the gas fuel more easier. MRU in Pluit Reservoir can serve 500 vehicles per day.
Head of Corporate Communications of PGN, Mr Ababil Rida said the MRU placement in Pluit Reservoir is done in conjunction with the Asia Pacific Mayors Forum currently that is being held in Jakarta. (Kompas)

Otoritas Jasa Keuangan (OJK) said that the Indonesia Stock Exchange (IDX) is ranked third in market capitalization growth stocks in Asia in the first half of 2014. This was revealed in the OJK's performance exposure of Indonesia Stock Exchange (IDX) from January to August 2014.
"In capitalization, we also were third with 24.8% capitalization growth, Thailand 28.89%, while India 25.54%," said Nurhaida, The Chief Executive functioning as Capital Market Supervisor in Indonesia Stock Exchange Building, Jakarta. (Kompas)


for Indonesia Market Summaries 15 August 2014