Market News Jakarta 1 Mar 2013

Central Omega Booked a 70.98% Increase in Net Profit 70,98%

Nickel producer, PT Central Omega Resources Tbk booked a 70.98% Increase in net profit to Rp303,45 billion consolidated from revenue last year Rp177, 48 billion. The Rp303, 33 billion attributable to owners of the parent entity and the remaining Rp119, 86 million attributable to non-controlling interests. Meanwhile, earnings per share fell to Rp55 per share from the previous year because of Rp92 per share diluted. (Bisnis Indonesia)

Bank Rakyat Indonesia give 30% dividen pay-out ratio in 2013

BRI 2013 annual general meeting of shareholders decided on 30% dividend pay-out ratio for 2012 net profit of Rp18.5tr from 20% in 2011, totaling IDR 5.55tr. This translates into around Rp223/share and dividend yield of 2.3%. BRI also agreed on IDR 2.59tr as reserved funds and IDR 10.37tr as retained earnings in 2013. The bank targeted a 15-18% YoY growth in net profit to more than IDR 20tr in 2013 from IDR 18.52 tr (23% YoY) in 2012. Loans growth is expected to lower to 18-22% YoY in 2013, from 23% YoY in 2012. (Investor Daily)

Market News Jakarta 28 Feb 2013

Entrepreneurs welcomed CIF agreements for exports initiative

Bisnis Indonesia daily reported that the government’s notion to change the current FOB export agreement to CIF is welcomed by entrepreneurs. Expected to be implemented in 2H13, the Minister of Trade Gita Wirjawan said that CIF method will increase exports by 8-9% while at the same time stimulate the growth of Indonesian transportation, banking, and insurance services.
Meanwhile, the Chairman of Indonesian Entrepreneur Association (Apindo) Sofjan Wanandi and Indonesia Chamber of Commerce Suryo Bambang Sulistyo consider it as the correct initiative to reduce current account deficit pressure (Bisnis Indonesia)

The New Shares of INDF subsidiary will trade immediatelly

INDF buy China stocks Minzhong Food Corporation Limited on the Singapore stock exchange valued at Rp717.4 miliar. the number of shares purchased as many as 98 million shares or equivalent to 14.95% of the total capital of CMFC.
Based on Information in the Indonesia Stock Exchange (BEI), the number of new shares issued as many as 98 million shares. The new shares free of any imposition, and have the same rights as the shares that have been issued by CMFC. The new shares will be listed and traded on the Singapore Exchange Securities Trading Limited on March 1, 2013 starting at 9:00 pm Singapore time. (Kontan)