Indonesia Market Summaries 28 August 2014

PT Pertamina re-opened the tap of subsidized fuel. This means that the use of subsidized fuel control process carried out by Pertamina to reduce the distribution of premium 5% and subsidized diesel 15% to 20% since August 18 has stopped. Marketing and Commercial Director of Pertamina, Mr Hanung Budya said, without any control of subsidized fuel, fuel subsidy quota this year of 46 million kiloliters will be exceeded. Pertamina predicts, the quota of fuel subsidy will be at 1.3 million to 1.5 million kiloliters. (Kontan)

PT Energi Mega Persada Tbk (ENRG, RP 90) exploring a new loan to pay off short-term debt of $ 250 million. Parties to the company said it is looking for a new loan with low interest to save the burden to be borne by the company. President Director of PT Energi Mega Persada Tbk (ENRG), Imam Agustino said that the loan is expected to be obtained before the end of 2014. (Bisnis Indonesia)

PT Berau Coal Energy Tbk (BRAU, Rp111) intentions to boost coal production this year,  finally approved by the government. Ministry of Energy and Mineral Resources (ESDM) finally provide the additional quota of BRAU production to as much as 1.85 million tons to 24.2 million tons. (Kontan)


PT Semen Indonesia Tbk (SMGR, Rp 16.400, BUY, TP Rp 18.300) will conduct its financial efficiency. The trick is, issuers run cash pooling system, which is to manage the entire financial surplus (excess cash) of its operational company to one financial container in the holding company. (Kontan)


for Indonesia Market Summaries 28 August 2014

Indonesia Market Summaries 26 June 2013 Session 2

• PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) immediately finalize the acquisition of PT Bank Sahabat Purba Danarta. After 70% stock transaction valued at Rp600 billion, Bank Sahabat Purba Danarta base in Semarang city, will be sharia bank.
  
  Acquisitions that have been revealed since 2011 ago would take a majority stake in Bank Sahabat previous owner, PT Persada Triputra Rachmat, owned by former high-ranking Astra Group, Mr. Theodore Permadi Rachmat. BTPN it self, recently acquired by Sumitomo Mitsui Bank from TPG Capital. (Bisnis Indonesia, Investor Daily, Kontan)
• PT Perusahaan Gas Negara Tbk (PGAS, Rp5.100) to acquire oil and gas blocks that are already in production for 10 years, Ujung Pangkah Block, in East Java. Acquisitions worth U.S. $ 265 million (equivalent to Rp2,62 trillion) was done by buying Kufpec Indonesia (Pangkah) BV from Kuwait Foreign Petroleum Exploration Company KSC. The gas block is located 50 Km from the industrial center of Surabaya. (Bisnis Indonesia, Investor Daily)
• The oil and gas of Bakrie Group, PT Energi Mega Persada Tbk (ENRG, Rp111) plans to pay off debts totaling U.S. $ 400 million to Credit Suisse and ND Owen Holdings Ltd. (Investor Daily, Bisnis Indonesia)
• PT Benakat Petroleum Energy Tbk (BIPI, Rp139) completed the acquisition of PT Astrindo Mahakarya Indonesia. In addition to transaction valued at U.S. $ 600 million, the completion was also accompanied by the completion of the acquisition of PT Benakat Patina worth U.S. $ 105 million. (Bisnis Indonesia)