Monday, September 8, 2014

Indonesia Market Summaries 8 September 2014

FX reserve continues to pick up. Foreign exchange reserve currency (cadev) continue rising. Foreign exchange is USD 111.2 billion in August, in line with Mandiri Securities  projections of USD 111 billion to USD 112 billion. The position is the fifth consecutive increase since March.

In general, cadev equivalent to 6.5 months of import value, or 6.3 months of imports and government foreign debt payments, still above the international standard 3 months of imports. (Bank Indonesia).

PT Ciputra Property Tbk (CTRP, Rp720) to prepare capex IDR 1.5 Trillion. CTRP prepare a capital expenditure (capex) of IDR 1.5 trillion (IDR 800 billion to IDR 700 billion for construction and land) project aimed at Rosewood Hotels and Villas in Tabanan, Bali. Construction will start in early 2015 and is predicted to finish in 2 years. (Bisnis Indonesia)

PT Summarecon Agung Tbk (SMRA, Rp1.230, BUY, TP Rp1.550) to issue bonds IDR 700 billion. SMRA will issue bonds worth IDR 700 billion, which will be divided into two types, namely conventional bonds and sukuk. Both will have a tenure of 5 years and a coupon of about 11-12%. Funds will be used for the issuance of land acquisition. (Bisnis Indonesia)

for Indonesia Market Summaries 8 September 2014

Friday, September 5, 2014

Indonesia Market Summaries 5 September 2014

PT Modernland Realty Tbk (MDLN, Rp510, NEUTRAL, TP Rp510) to revise marketing sales target to IDR 3.8 trillion. MDLN decided to revise the target company's marketing sales in 2014 to IDR 3.8 trillion from IDR 4 trillion since the launch of the bari project in the first semester of 2014 is lower than the target.

Pre-sales for 7M14 reached IDR 1.88 trillion (49.5% of the target). The company is optimistic to achieve the new targets by launching two new housing clusters in Jakarta Garden City in the second semester of 2014 and the contribution of Cikande Modern Industrial Estate. (Bisnis Indonesia)

PT Kresna Graha Sekurindo Tbk (KREN, Rp 405) intends to rights issue worth IDR 2 trillion. The step is a part of restructuring of the company into a group holding company, and will acquire Affiliate company in the insurance sector and the property. (Kontan)

Astra Group targeting Mulut Tambang power plant project worth USD 900 million in South Sumatra through tenders. Tender was followed by the Astra Group through PT United Tractors Tbk (UNTR, Rp 21.475, NEUTRAL, TP Rp 23.000) subsidiary', PT Pamapersada Nusantara (PAMA). (Investor Daily)

Division of Flour, PT Indofood Sukses Makmur Tbk (INDF, Rp 7.050, BUY, TP Rp 8.200) is targeted to achieve Bogasari revenue IDR 19.6 trillion this year, up 5% from last year. The target was supported by an increase in demand for capacity on the market, but there is no expansion this year. (Bisnis Indonesia)

for Indonesia Market Summaries 5 September 2014