Indonesia Market Summaries 3 June 2013

DBS Holdings Ltd. will extend the deadline for buying a controlling stake in PT Bank Danamon

Indonesia Tbk from Temasek Holdings Pte. The Agreement with Temasek Fullerton Financial which expired yesterday, was extended until August 1.
According to a Bloomberg report, that DBS announced it today, the deal would pass unless both parties agree to extend it. This is the second time for DBS to postpone the deadline of a transaction. (Kontan)

HSBC Holdings Plc is considering a strategic plan to release shareholding in PT Bank Ekonomi Tbk

after investing about 4 years. Peter Wong, CEO of HSBC Asia Pacific in an announcement on the London Stock Exchange said, they are reviewing strategic options related to ownership of 98.94% stake in Bank Ekonomi. The announcement was made to answer the question from the Indonesia Stock Exchange to Bank Ekonomi.

Peter says, HSBC remains committed to investing in the development of Indonesia. (Business Indonesia)

for Indonesia Market Summaries 3 June 2013

PT Semen Indonesia Tbk will conduct a stock split

PT Semen Indonesia Tbk (SMGR) will conduct a stock split if the stock price in the market reach the level of Rp 20,000 per share.

"We're going to do a stock split, if the stock price SMGR was at Rp 20,000 per share," said Director of SMGR, Dwi Soetjipto Saturday (1/6) in Gresik, East Java.

Dwi Soetjipto said that corporate action plan is done so the SMGR stocks are more liquid in the market, then it can be more affordable and absorbed by retail investors.

Dwi said this stock split plan would use ratio of one to five (1:5). Thus the nominal value of SMGR will be Rp 100 per share compared to the current Rp 500 per share.

SMGR stock price is currently still in the range of USD 18,000 per share, at the close of trading on Friday (31/5). The SMGR at the level of Rp 18,000 per share, down USD 250 from the previous closing price of Rp 18,250 per share.

for Indonesia Market Summaries 3 June 2013