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

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

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

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

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

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

Indonesia Market Summaries 3 July 2014

PT Hexindo Adiperkasa Tbk (HEXA, Rp 3.590, BUY, TP Rp 4,250): Inline FY recurring net income. HEXA recurring net income for fiscal year of 2013 and 2014 in line with analist predictions (104%) and consensus (98%) (HEXA financial statements based on the fiscal year ending March 2013 and 2014).


We liked the HEXA performance because the company will be the beneficiary of the booming infrastructure budget after the election. We adjust our assumptions again and reassign BUY recommendation with TP revised to Rp 4,250, from the previous of Rp 5.450. (Mandiri Sekuritas)

The Indonesia Government will issue euro-denominated global bonds worth 1 billion euros (equivalent IDR 16,3 trillion) in the near future. Government with Bank of America Corp., Citigroup Inc., and Deutsche Bank as underwriters of its publication. The Bonds will be tenured 7 years and the coupon in the range of 195 bps to 210 bps above the median rate swaps Europe. (Kontan)

PT Mitra Investindo Tbk (MITI, Rp 201) will remove the granite quarry business if the acquisition by Saratoga through the Goldwater Group Pte been completed. In addition to his new business to focus on oil and gas, the company assesses granite reserves held just enough for the next 5 years. (Kontan)

PT Acset Indonusa Tbk (ACST, Rp2.350), The general contractor and foundation issuer, get credits worth IDR 250 billion from PT Bank Danamon Indonesia Tbk (BDMN, Rp 4.205, NEUTRAL, TP Rp 4,200). The loan tenure of 3 years. (Investor Daily)


PT Garuda Indonesia Tbk (GIAA, Rp 429) get a loan worth USD 200 million, equivalent to IDR 2.4 trillion. The loan that was originated from the six banks will be used for expansion. These six banks are PT Bank Pan Indonesia Tbk (Bank Panin, PNBN, Rp850, BUY, TP Rp1.000), Dubai Islamic Bank, Emirates NBD, First Gulf Bank, Standard Chartered, and Warba Bank. (Bisnis Indonesia)

Four tower issuers eyeing tower auction of PT XL Axiata Tbk (EXCL, Rp5.225). The four are PT Tower Bersama Infrastructure Tbk (TBIG, Rp7.975, BUY, TP Rp7.200), PT Sarana Menara Nusantara Tbk (TOWR, Rp3.970, NEUTRAL, TP Rp3.750), PT Solusi Tunas Pratama Tbk (SUPR, Rp8.250), and PT Inti Bangun Sejahtera Tbk (IBST, Rp3.175). (Investor Daily)


for Indonesia Market Summaries 3 July 2014

Indonesia Market Summaries 2 July 2014

PT XL Axiata Tbk (EXCL, Rp 5.075) to sell towers in 2H.
EXCL plans to sell part of its telecommunication towers in the second half of 2014 and will use the fund to proceeds the pay off of a portion of its debt which amounting to IDR 22 trillion (USD 1.9 billion).


The company has formed a bid committee to make recommendations to the board of commissioners and directors of the company. Although not mentioned the details of the number of towers that are intended to be sold, the company had mentioned will sell approximately 7,000 towers in the price of 9 to 10 times from EBITDA  tower business. (Bisnis Indonesia)


PT Bank Rakyat Indonesia Tbk (BBRI, Rp10.375, BUY, TP Rp12.100) allocates Rp 3 trillion on acquisition. BBRI allocated 3 trillion for investment in order to create inorganic growth. Currently, the company is following due diligence on the acquisition of PT Bank Mutiara Tbk (BCIC, Rp50) and two insurance companies. (Investor Daily)


PT Newmont Nusa Tenggaran complained Indonesia to the International Arbitration. Complaints that aims to overturn a ban on the export of raw mineral policy, whereas NNT have got delays on exports ban until 2017. (Kontan)


for Indonesia Market Summaries 2 July 2014

The government to Renegotiate LNG Tangguh Price with South Korea

Following the success of renegotiate the price of LNG Tangguh to China, the government also intends to renegotiate the price of LNG to South Korea, which is K-Power and Posco.


In the 20-year tenured contracts, LNG prices for both companies is USD 4.1 / MMBTU with a total sold volume of 1 million tons/year, which is distributed by the same amount to the two companies.


The government's efforts at this time is to raise the price of LNG to USD 8 / mmbtu. The challenge was very hard. One of the employees of SKK Oil and Gas stated, not like the treaty with China, there is no clause of price change with the South Korea. (Bisnis Indonesia)


for Indonesia Market Summaries 2 July 2014

Indonesia Market Summaries 1 July 2014

PT Pakuwon Jati Tbk (PWON, Rp 346, BUY, TP Rp 430) issued global bonds of $ 168 million. The number was lower than the company's previous targets of USD 175 million. Five-year bond was set 7.125% coupon. Value of the bond issuance is the maximum amount that can be issued by PWON today.


PWON itself now has a long-term bank debt amounted to IDR 1.28 trillion. PWON's total liabilities reached IDR 5.1 trillion and the equity Rp 4.5 trillion. Debt rtio to PWON' equity determined not be more than 50%. (Kontan)


PT Summarecon Agung Tbk (SMRA, Rp 1.115, BUY, TP Rp 1.550) build Summarecon Digital Center (SDC) as the first IT and the gadget center in Gading Serpong with an investment of IDR 200 billion. SDC is a commercial center that provides information technology needs such as computers, gadgets and other mobile technologies.
SDC Serpong has a wise area of ​​32395.21 square meters, consists of three floors and a basement. In addition, there are 101 stores and 240 counters that provide a variety of hardware and software. (Bisnis Indonesia)


for Indonesia Market Summaries 1 July 2014

Indonesia Market Summaries 30 September 2013

• PT Budi Starch and Sweetener Tbk (MIND,Rp 100) has realized repurchase ( buyback ) as many as 12.1 million shares or a 0.3 % share of the total shares outstanding. Manufacturers of tapioca starch and cassava-based artificial sweetener that has set aside 25 billion to buyback shares amid plunging stock price index (IHSG).
  
  The company formerly known as PT Budi Acid Jaya Tbk has done buyback in the period of time, September 5 to 6, September 9 to 13, September 16 to 20, and then September 23 to 27. Funds of stock buyback amounting to Rp 25 billion is derived from the company's reserve fund, which the company retained earnings unappropriated, valued at Rp 209,6 billion as of June 30, 2013. (Bisnis.com)
• PT Rajawali Nusantara Indonesia ( RNI ) Persero plans to acquire Australian cattle farms with 200,000-500,000 cows. According to the Director of RNI, Mr Ismed Hasan Putra, the company has prepared about 350 billion fund. This budget was derived from internal cash about 30 % and 70 % bank loan.
  
  Currently, the company is verifying five companies. He expects corporate takeover can be completed in January 2014. SoE Minister Dahlan Iskan has appointed PT Pupuk Indonesia Holding Company (Persero) to buy cattle company in Australia with a land area of ​​1 million hectares, while RNI can manage cattle in smaller amounts. (IMQ)

for Indonesia Market Summaries 30 September 2013

LPJKN proposed six actions to deal foreign currency fluctuations

The National Construction Services Development Institute (Lembaga Pengembangan Jasa Konstruksi Nasional / LPJKN)  proposed six actions to the government to deal with foreign currency fluctuations. 

1. The government must establish the conditions of force majeure and revise the contract value by time duration, which is a multiyear, single year, and lump-sum contract.
2. The contract price adjustment can only be done in times of crisis.
3. Project delays can only be allowed if the agreement price adjustment has not happened.
4. The contractor is allowed to cancel the contract without penalty if the contract value is not agreed upon negotiation.
5. Review of final taxation for the period of crisis.
6. Incentives import tax on building materials strategic to national development.

As a plant, the proposal will be submitted to the government next week .

The Association also stated that minimum wage (UMR and UMP) rising, increase in fuel price and IDR-USD volatility has a negative pressure on the construction industry. According to LPJKN, the supplier of goods is not willing to lock the sale price more than a week since the price fluctuating.

Analyst believe that the proposal would be a boost to the owner of the project contractor. If the government approve the proposal, the margin of contractors will be affected by the light conditions of crisis.

for Indonesia Market Summaries

Indonesia Market summaries 27 September 2013

Central Bureau of Statistics of Indonesia (Badan Pusat Statistik / BPS) will announce the September inflation and August trade balance at 1 October. Analyst predicts deflation will occur between the months of 0.05 % (MoM) and push inflation to 8.7 % between the year (YoY) which fell compare to inflation of 8.8% YoY last month. Since the beginning of the year (YTD), inflation will reach 7.9%.

Analyst observed that staple food commodities such as rice, peppers, onions, garlic, and beef are the main drivers. Transportation expenses will also be normal again after a period of Eid.

Nevertheless, core inflation can be increased slightly to 4.64% YoY from 4.48% YoY in August 2013. The main factor is the depreciation of 5.5% MoM and 0.6% MoM rise in gold last month.

Supply of cash funds increased 14.7% YoY in July from 11.8% YoY in June can cause pass through effect of core inflation in September 2013.

For the trade balance, there are trade deficit that will decline to U.S. $ 0.8 billion in August from U.S. $ 2.3 billion in July due to the lower imports. Import growth is predicted to fall to 2.4% YoY in August (compared to 6.5 % YoY in July 2013), while exports will be improve.

Predicted exports contracted 5.2% YoY from 6.1% previously. Decline in trade deficit also caused the value of imports, especially of fuel cut previously had increased because of Ied holiday. This cycle has occurred in recent years.

From 2005-2012 data, the trend of imports will rise by U.S. $ 1 billion in Eid then will drop. In addition , export performance also will not move significantly while the price of coal, palm oil, and rubber are still stable.

for Indonesia Market summaries

Indonesia Market summaries 26 September 2013

• Ministry of Communication and Informatics Republic of Indonesia (Kominfo) insists will only approve the consolidation of PT XL Axiata Tbk (EXCL, Rp 4.425) with PT Axis Telekom Indonesia in the event of a merger. Kominfo will only support the merger because the number of telecom operators will be reduced.
  
  Kominfo said, the fewer number of operators will make a quality mobile broadband network to meet its criteria. They also said that the CDMA operators in the 850MHz spectrum should also get ready to unite its network even though the company will not unite. (Bisnis.com)
• PT Modernland Realty Tbk (MDLN, 700) acquired 100% property project of Jakarta Garden City in Cakung, East Jakarta. The acquisition of this project occurred because MDLN has acquired the shares of PT Mitra Sindo Sukses and Mitra Sindo Makmur.
  
  On the other hand, MDLN projected revenue this year could reach Rp 2 trillion. By mastering Jakarta Garden City project, MDLN revenue targets next year increased to Rp 2,6 trillion. (Kontan)
• Management of Bank Nagari still keen to do the initial public offering (IPO). IPO step is done to support the company's expansion. They would discuss the IPO plan with directors and shareholders. (Inilah.com)
• Fitch Ratings assessed that tightening LTV for second and third homes will tame the property and house price growth in Indonesia. Significant growth occurred during the last 3 years. Fitch Ratings still believes that the property market is still attractive despite the growth of price will slow, and the developers are still able to compete in the more challenging conditions. (Fitch Ratings)
• PT Sat Nusapersada Tbk (PTSN, Rp 92) allocates Rp 40,74 billion to buy back shares of about 20 % of the paid-up capital. The Company has appointed PT Samuel Sekuritas Indonesia, which will help the company in the buyback. (Inilah.com)
• Energy services company PT Elnusa Tbk (ELSA, Rp 285) to realize the sale of 40% stake in its subsidiary, PT Patra Telekomunikasi Indonesia (Patrakom) PT Telekomunikasi Indonesia Tbk (TLKM, Rp 2.175). Sales made ​​on 25 September 2013 and the effective date of this sale is upon receipt of payment in full. (imq21.com)
• PT Dharma Satya Nusantara Tbk (DSNG, Rp1.880) got a loan of Rp 201,58 billion of BBCA (Rp10.300, NEUTRAL, TP Rp10.300). 7-10 year loan tenure obtained by DSNG through eight subsidiaries for investment in oil palm plantation. (IDX)

for Indonesia Market summaries 26 September 2013

Indonesia Market Summaries 25 September 2013

• Astra Group through PT Marga Mandala Sakti (MMS) targeting Balaraja Serpong toll road. Subsidiary of PT Astra International Tbk (ASII, Rp6.400, NEUTRAL, TP Rp7.300) targeting 40 km toll road by forming a consortium with Grup Sinarmas and Grup Kompas Gramedia.
  
  The joint venture will have a 70:30 ratio of debt compared to the proportion of cash that will be used. MMS focus on the Trans Jawa toll road Mojokerto-Kertosono along 40.5 Km which will be completed in September 2014. The company is targeting revenue Rp 600 billion this year (+20% YoY), while net profit rose just 10% targeted amid rising labor costs. (Investor Daily)
• SUN's Auction managed to get requests Rp 25,78 trillion yesterday. In the auction, the government absorb the demand and issue Rp 12 trillion from Rp 8 trillion indicative target. Throughout the quarter III/2013 government has sold securities valued at Rp 77,76 trillion of the auction, above the target of Rp 72,9 trillion. Since the beginning of the year, the government has issued securities valued (Surat Utang Negara / SUN) at Rp 179, 18 trillion. (Kontan)
• Issuer of Grup Sinar Mas, PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM, Rp1.750) mortgaged 35.29% shares of its subsidiary - PT Oki Pulp & Paper Mills - to get a loan from China Development Bank Corp. The new shares are owned by TKIM since July 11 are pledged for a loan of U.S. $ 3 billion that will be used to build tissue and Oki Pulp paper mill. (Kontan)
• PT Dayamitra Telekomunikasi (Mitratel) were given a backdoor listing option on the stock exchange by its parent company, PT Telekomunikasi Indonesia Tbk (TLKM, Rp 2.150, under review). Backdoor listing is A strategy of going public used by a company that fails to meet the criteria for listing on a stock exchange. To get onto the exchange, the company desiring to go public acquires an already listed company.
  
  The option was given with the portion of release shares held by TLKM up to 49% and open procedure for redemption through the exchange of shares and cash. (Investor Daily) 
• Contract of Work (Kontrak Karya / KK) of PT Koba Tin was decided not to be extended. Management of tin mine land that abandoned by Koba Tin handed over to PT Timah Tbk (TINS, Rp1.470). This decision established on 18 September, after having been extended twice with a total duration of 5 months. A total of 75% stake in Koba Tin owned by Malaysia Smelting Corp and the rest owned by TINS. (Bisnis Indonesia)

for Indonesia Market Summaries 25 September 2013

Indonesia Market Summaries 23 September 2013

• PT Kimia Farma Tbk (KAEF, Rp590) delay the issuance of bonds worth Rp 1 trillion, which is planned to be released this September. According to the plan, Funds from the issuance are for the construction of pharmaceutical manufacturing. The company plans to seek bank loans to those needs. (Kontan)
• PT Timah Tbk (TINS, Rp1.530) targeting 51% stake in the new company which will replace PT Koba Tin. The plan is inline with the condition if the government did not renew the work contract of Koba Tin. (Investor Daily)
• The IPO schedule of PT Link Net, a subsidiary of PT First Media Tbk (KBLV, Rp600) withdrew from the beginning schedule in the quarter III/2013. Delays occur until the end of this year due to the acquisition have not been pre-effective statement from the Financial Services Authority. (Bisnis Indonesia)
• PT Cipaganti Citra Graha Tbk (CPGT, Rp265) acquired two taxi company, PT Pandu Persada Saranamukti and PT Andika Semesta. Acquisition through its subsidiary in the field of taxi services, PT Grand Transportasi Sejahtera. (Bisnis Indonesia)
• Indonesian Government Bond Yields fell the most in among other Asian countries along with the Fed's decision delay tapering Quantitative Easing. The fall of government securities (Surat Utang Negara / SUN) yields  make its price in the secondary market climbed. However, the big fall of SUN also shows that the Indonesian bond market is very fluctuative. It also shows the pressure in the bond market decreased. (Kontan)

for Indonesia Market Summaries 23 September 2013

Indomobil shows Datsun Go at IIMS 2013

PT Indomobil Sukses International Tbk (IMAS) through Nissan Motor Indonesia (NMI) displaying Datsun Go in Indonesia International Motor Show 2013 (IIMS 2013).



After being introduced to the media, Tuesday, 17/9/2013, Datsun Go finally can be seen by the general public in the annual car show event, IIMS 2013. There are 2 types of LCGC car that will be in the market in 2014, Datsun Go and Datsun Go+.

NMI explains the presence of Datsun Go in IIMS 2013 is still a show car, there is no order units and it will be sold in 2014.

As is known, some manufacturers are planning to introduce LCGC cars, such as Honda Prospect Motor launched Brio Satya, Agya by Toyota, Ayla by Daihatsu.  And Datsun Go will complete the market of LCGC car segment in Indonesia.

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