Indonesia Market Summaries 27 June 2013

• PT Elang Mahkota Teknologi Tbk (EMTK, Rp6.600) opened two corporate acquisition opportunities in the field of IT and media with a total valuation of more than Rp1 trillion. This two company engaged in the business of media content and media portals.
  
  The acquisition of this two companies expected could be completed this year, preceded by transaction of media content company acquisition whose transaction value is smaller. Acquisition funds will come from internal cash. Based on the financial statements, internal cash EMTK have reached Rp3, 7 trillion. (Bisnis Indonesia)

• Otoritas Jasa Keuangan (OJK / Financial Services Authority) is currently reviewing the use of bond index as a parameter to the development of trade bonds and sukuk.
  
  The plan, bond index will be issued by the Indonesia Bond Pricing Agency (IBPA), although the OJK to consider if there are other parties than the IBPA can provide bond index.

• PT Bakrieland Development Tbk (ELTY, Rp50) sell two assets in Bali and Bukit Jonggol. The total transaction reaches Rp2, 9 trillion. ELTY assets that are sold in Bali is Bali Nirwana Resort and the transaction reportedly has entered the final stage.
  
  In fact, the asset of Nirwana Bali area of ​​103 hectares (ha) in Tanah Lot, Bali, has also been sold entirely to the MNC Group. The sale of assets was done in two phases, the first phase of 49% in May 2013 and the remaining 51% in June. (Kontan)
• PT Nusa Raya Cipta Tbk (NRCA, Rp1.000) up 17.64% to Rp 1,000 per share from the set price Rp 850 per share, on its trading debut June 27, 2013.
  
  The Company offers a stock as much as 306,1 million shares with a nominal value of Rp100. Initial implementation of the company's stock price set Rp850 per share. The funds will be gained from the stock offering around Rp 260,17 billion. The funding will be used by the company, for a variety expansion this year. (Inilah.com)

for Indonesia Market Summaries 27 June 2013

Indonesia Market Summaries 13 May 2013

Credit growth is slowing, as anticipated

Bank Indonesia deputy governor Perry Warjiyo mentioned that 1Q13 credit growth of 22.2% yoy is slower compared with 24.9% yoy in the same period last year, in line with the easing in economic growth. Such slowing occurred in all segments, namely working capital (23.7% yoy in 1Q13 vs. 25.2% yoy in 1Q12), investment (23.2% yoy in 1Q13 vs. 30.6% yoy in 1Q12), and consumption (18.9% yoy in 1Q13 vs. 20.5% yoy in 1Q12). However, the slowdown is anticipated; Bank Indonesia has previously revised its 2013 credit growth target to 21-22% (Bisnis Indonesia)

Surya Semesta’s NRC to conduct share swap with Saratoga Capital

PT Nusa Raya Cipta (NRC), SSIA’s construction arm, is planning to go through a share swap with Saratoga Capital before their IPO. Saratoga will acquire 7% of shares in NRC, while NRC will acquire 7% of Saratoga’s shares in the Cikampek-Palimanan toll road for Rp130bn.The reason for the share swap is still undisclosed, but the swap should be good for NRC since it raises the company’s stakes in the toll road. NRC targets total new contract of Rp4tn this year implying 48% growth yoy. (Kontan)

Comments: SSIA through NRC currently indirectly owns 20.5% stakes in the Cikampek-Palimanan toll road.

• NRC owns 100% of PT Karsa Sedaya Sejahtera (KSS)
• KSS owns 45.62% of PT Baskhara Utama Sedaya (BUS)
• BUS owns 45% of PT Lintas Marga Sedaya (LMS), who is a concession holder of the toll road

Bank Danamon - 30% dividend payout for 2012

Bank Danamon’s shareholders agreed to distribute 30% of 2012 net profit as cash dividend, translating into Rp125.58/share. Cum- and ex-date will be on 30 May and 31 May with payment date on 19 June 2013. Based on this payout ratio, the current yield is 1.9%.

MEDC discover gas reserve in Matang-1, Aceh

Medco E&P Malaka discover gas reserve in Matang-1, Aceh. President Director of MEDC estimates Matang-1 may produce gas of 25 MMscfd. (Bisnis Indonesia)

Indonesia Market Summaries 13 May 2013