Tuesday, August 26, 2014

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