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
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