Indonesia Market Summaries 12 September 2013

• PT Modernland Realty Tbk (MDLN, 700, BUY, TP Rp 1.250) seek approval of its shareholders at the EGM 27 September to seek bank loans. The fund is intended to be a source of funding for the acquisition of Jakarta Garden City of Keppel Land that has been previously announced.
  
  As a result of the world financial market conditions that are not conducive, MDLN failed to issue bonds denominated in U.S. dollars that were previously planned and are looking for alternative financing from banks. In the EGM, MDLN also requested approval of a stock split 1:2 . (Company Released)
• PT Cemindo Gemilang , the owner of Semen Merah Putih, began to build a new cement plant worth U.S. $ 600 million. The factory of Ganda Group company in Banten will have a capacity of 4 million metric tons per year and will start operating in 2015. The plant capacity can be increased to 12 million metric tons per year with a total investment of Rp 1,8 trillion. (Investor Daily)
• PT Astra Otoparts Tbk (AUTO, Rp3.550) of Group Astra will pay an interim dividend of Rp 22 per share (0.6 % yield). Cum date and ex date of dividend is 2 and 3 October, while the distribution will be made on October 23.
  
  Another ASII subsidiary, PT Astra Agro Lestari Tbk (AALI, Rp 21.400, BUY, TP Rp 21.900) and PT Astra Graphia Tbk ( ASGR , Rp1.230 ) will also pay dividends Rp 160 and Rp 18 per share. (IDX)
• Property company PT Surya Semesta Internusa Tbk intends to hold a buyback worth IDR200 billion. The funds will be used to purchase a maximum of 20 % of its shares in the stock market. (Investor Daily)
• Group Emtek PT Elang Mahkota Teknologi Tbk (EMTK, Rp 5.450) develope their business into the health care sector by acquiring ​​1.5 hectares area of RS Usada Insani in Tangerang. Acquisition is done by forming a joint subsidiary namely PT Surya Cipta Medika. The business group of Sariaatmadja was known as SCTV and has other business lines such as solutions and connectivity. (Bisnis Indonesia)
• PT Nippon Indosari Corpindo Tbk (ROTI, Rp 5.950) will hold the sale price this year despite there are any invasion of foreign companies and increased costs when fuel prices rise. The selling price was hold especially useful for maintaining their market share. (Bisnis Indonesia)

for Indonesia Market Summaries 12 September 2013