Market News Jakarta 28 Feb 2013

Entrepreneurs welcomed CIF agreements for exports initiative

Bisnis Indonesia daily reported that the government’s notion to change the current FOB export agreement to CIF is welcomed by entrepreneurs. Expected to be implemented in 2H13, the Minister of Trade Gita Wirjawan said that CIF method will increase exports by 8-9% while at the same time stimulate the growth of Indonesian transportation, banking, and insurance services.
Meanwhile, the Chairman of Indonesian Entrepreneur Association (Apindo) Sofjan Wanandi and Indonesia Chamber of Commerce Suryo Bambang Sulistyo consider it as the correct initiative to reduce current account deficit pressure (Bisnis Indonesia)

The New Shares of INDF subsidiary will trade immediatelly

INDF buy China stocks Minzhong Food Corporation Limited on the Singapore stock exchange valued at Rp717.4 miliar. the number of shares purchased as many as 98 million shares or equivalent to 14.95% of the total capital of CMFC.
Based on Information in the Indonesia Stock Exchange (BEI), the number of new shares issued as many as 98 million shares. The new shares free of any imposition, and have the same rights as the shares that have been issued by CMFC. The new shares will be listed and traded on the Singapore Exchange Securities Trading Limited on March 1, 2013 starting at 9:00 pm Singapore time. (Kontan)