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Sunday, October 24, 2010

Dayaindo Resources revenue up to IDR1 trio

BI / exchange
24/10/2010
Irvin Avriano A.

Dayaindo Resources revenue up to IDR1 trio
JAKARTA: PT Dayaindo Resources International Tbk predicts revenue in 3rdQ/2010 can reach IDR1 trillion due to the company's relation with Agritrade International Pte Ltd, a coal trading company in Singapore.

"Our income is more than IDR1 trillion, but the exact numbers can not convey yet now. Cooperation with Agritrade help us to export coal to China which has been difficult to penetrate," said Dayaindo Resources Vice President of Finance Heriman to Bisnis this afternoon.

He was also unable to reveal predictions of net income for the same period because of its financial statements are being prepared.

AKR Corporindo subsidiary bags US$15 mio loan

BI/bursa
24/10/2010

Irvin Avriano A.

AKR Corporindo subsidiary bags US$15 mio loan
JAKARTA: PT AKR Corporindo Tbk subsidiary, Khalista (Liuzhou) Chemical Industries Ltd, bags credit facilities from PT Bank Mandiri Tbk-Hong Kong branch of a US$15 million, or about IDR133.97 billion.

In the information disclosure to the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia), AKR Corporindo President Director Hardiyanto Adikoesoemo said the funds would be used for working capital, purchase of production raw materials, and working capital of their subsidiary.

"AKR Corpindo have been signed corporate guatantee for the management of debt and commitment to providing cash deficit for the loan," he said in the disclosure, Thursday.

AKR Corporindo controls a total of 100% stake in China-based subsidiary. AKR shares are coded AKRA in the stock market.

Astra Agro 3rdQ/2010 CPO sales dropped 0.78%

BI / exchange
21/10/2010
Irvin Avriano A.

Astra Agro 3rdQ/2010 CPO sales dropped 0.78%

JAKARTA: PT Astra Agro Lestari Tbk sales of crude palm oil (CPO) decreased slightly by 0.78% from 767,946 tons to 761,919 tons during 3rdQ/2010.

Based on the PT Astra International Tbk subsidiary's monthly release that published in Thursday, its recorded sales of domestic consumption rose slightly by 2.8% from as much as 674,607 tons to 693,456 tons in the same period.

Although the local market sales increases, the CPO export sales actually declined a larger number, equals to 26.7% from about 93.339 tons in the 3rdQ/2009 to 68,463 tons in the 3rdQ/2010.

Capitalinc delay its stock split plan

21/10/2010
BI/exchange

Irvin Avriano A.

Capitalinc delay its stock split plan

JAKARTA: PT Capitalinc Investment Tbk postpone its plans to stock split because the condition of the company's stock trading in the capital market is in high volatility.

"The company decided to delay the execution of the stock split until further notice," said Capitalinc President Director Ong Seng Hoo on company's disclosure to the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia) in Thursday.

Benakat still booked increasing net loss despite revenue soared

BI / exchange
21/10/2010
Irvin Avriano A.

Benakat still booked increasing net loss despite revenue soared

JAKARTA: PT Benakat Petroleum Energy Tbk net loss still increased 57.47% in 3rdQ/2010 compared to the same period last year despite rocketing corporate's income amounted to 1396.72%.

In the financial statements published in the disclosure of information the Indonesia Stock Exchange in Thursday, the company recorded a net loss increased from IDR61.16 billion to IDR96.32 billion. On the other hand, its revenue increased from IDR11.91 billion to IDR178.76 billion.

The majority factor that increase the net loss are cost of sales which also rose in large numbers, 365.24% from IDR28.74 billion to IDR133. 74 billion.

Jaya Pari booked 544.32% net profit

BI/bursa
21/10/2010
Irvin Avriano A.

Jaya Pari booked 544.32% net profit

JAKARTA: PT Jaya Pari Steel Tbk, an iron and steel producer, posted an increasing net profit of 544.32% in the 3rdQ/2010 to IDR33.79 billion compared with net losses booked IDR7.6 billion in the 3rdQ/2009, due to company's increasing sales and limited operating expenses.

In the financial statements published on the exchange authority website in Thursday, the company shows their revenues increased 42.52% from IDR216.32 billion in the 3rdQ/2009 to IDR308.31 billion in the 3rd Q of this year. But their cost of goods sold increased only 27.99% and resulted in an increase in gross profit of 227.77%.

Company operating expenses also increased by 24.77% from IDR9.43 billion in the 3rdQ/2009 to IDR11.77 billion in the 3rdQ/2010 and causing its profit increased by 531.94% from IDR6.29 billion to IDR39.8 billion.

Thursday, October 21, 2010

Pembangunan Graha build power plant worth US$10.8 mio

21/10/2010
Irvin Avriano A.

Pembangunan Graha build power plant worth US$10.8 mio

JAKARTA: PT Pembangunan Graha Lestari Indah Tbk will build three hydroelectric plant with a total construction contract worth US$10.8 million in North Sumatra. The projects are Sri Wampu I and II hydroelectric plant in Langkat, also Parlilitan hydroelectric plant in Humbang Hasundutan.

The construction will done through their subsidiary PT Aek Simonggo Energy, together with Arcadia Energy Trading Pty Ltd. The development will make Aek Simonggo will have 35% stake in the project with US$500,000 capital to acquire land bank and Arcadia will use the project cost to build the construction.

Based on the information disclosure to stock market authority yesterday, Pembangunan Graha Lestari Director Hendry Wigin said the company will sell the electricity from those power plant to PT Perusahaan Listrik Negara (PLN).

Indo Citra Finance stock trading suspended

20/10/2010
Irvin Avriano A.

Indo Citra Finance stock trading suspended

JAKARTA: PT Indo Citra Finance Tbk shares transaction suspended by the stock market authority because of its strengthened in a significant numbers in 14 days.

"[The strengthened share's price happen] about IDR1,955 or 315.22% from IDR620 in the market closing on October 5th to IDR2,575 on October 19th," said (Daily Implementing) Transaction Monitoring Division Head of Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) Irvan Susandy in an information disclosure yesterday.

He said the suspension will apply until the next announcement by the stock market authority. He also said the stakeholders should pay attention to every information that would be disclose either by the emitters or from the authority.

Wednesday, October 20, 2010

Bumi Serpong eyes IDR5 trio from rights issue

BI / exchange
20/10/2010
Irvin Avriano A.
Bisnis Indonesia

Bumi Serpong eyes IDR5 trio from rights issue
JAKARTA: PT Bumi Serpong Damai Tbk eyes IDR5 trillion from the rights issue to acquire majority shares of PT Duta Pertiwi Tbk. The acquisition would also be made to two other companies that are still ruled by their business group, Sinar Mas Group.

In the prospectus and the company announced today, the company will use the majority of the funds, amounting to IDR4.36 trillion, to buy as much as 85.3% Duta Pertiwi shares and two other companies, PT Sinar Mas Wisesa and PT Sinar Mas Teladan.

The new shares that will be issued are 1.57 billion new shares with par value of IDR600--900.

"The deal aims to create the largest real-estate property companies in Indonesia and to enhance corporate value through diversification of assets, revenues and geographic presence, scale expansion of the business and better access to funding," said Bumi Serpong President Director Harry Budi Hartanto in that prospectus.

Basuki Rachmat eyes IDR604.29 bio from rights issue

BI/exchange
20/10/2010
Irvin Avriano A.
Bisnis Indonesia

Basuki Rachmat eyes IDR604.29 bio from rights issue

JAKARTA: PT Kertas Basuki Rachmat Indonesia Tbk eyes IDR604,29 billion from their rights issue plan by issuing C series of new shares of to the market at the end of next month.

In the prospectus the company issued today stated the funds from the new shares issuance will be used to repay its debt to Quest Corporation amounting to IDR544.87 billion.

"Acting as the standby buyer is PT Henan Putihrai," said Kertas Basuki Rachmat President Director Glenn M. S. Yusuf in the prospectus.

Lippo Karawaci appoint Deutsche and Citi for its US$100 mio bond

BI/bursa
20/10/2010
Irvin Avriano A.
Bisnis Indonesia

Lippo Karawaci appoint Deutsche and Citi for its US$100 mio bond

JAKARTA: PT Lippo Karawaci Tbk appointed two international investment banker, Citigroup Capital Markets and Deutsche Bank AG to issue US dollar-denominated bonds worth US$100 million.

Based on the corporate information disclosure to the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia) this evening, its mentioned that the issuance of debt securities will be made next month.

"This issuance is to utilizing time of the low global interest rates and expected could result in' company's cumulative savings to 2-5% in 5 years ahead," said Lippo Karawaci Director Tjokro Libianto in the information disclosure this evening.

BTPN will rights issue

Tuesday, 19/10/2010 21:30:39 AM
BTPN will title rights issue
By: Irvin Avriano A.
Bisnis Indonesia

BTPN will rights issue

JAKARTA: PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) plans to held a rights issue with the right of preemptive and issue shares in the company's portfolio.

In the company information disclosure to Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today, they mentioned the plan will seek approval from its shareholders in general meeting extraordinary of shareholders (EGM) which will be held in the near future.

"EGM will be conducted on November 10th, 2010," said BTPN Director & Corporate Secretary Anika Faisal in the information disclosure.

Indomobil will acquire 10% Multistrada stake


Indomobil will acquire 10% Multistrada stake

JAKARTA: A retailer and automotive lenders PT Indomobil Sukses Internasional Tbk (IMAS) will acquire 10% stake in PT Multistrada Arah Sarana Tbk through its subsidiary, PT Central Sole Agency.

"We will buy the stock from one of the Multistrada current shareholder," said Indomobil Internasional President Director Gunadi Sindhuwinata in the stock market authority information disclosure yesterday.

Modern Internasional pocketed IDR280 bio loan

Irvin Avriano A.

Modern Internasional pocketed IDR280 bio loan

JAKARTA: PT Modern Internasional Tbk and their subsidiary pocketed a loan from PT Bank CIMB Niaga Tbk worth IDR280 billion to restructuring its another loan.

In an information disclosure to stock market authority yesterday, the emitters explain they will use as much as IDR230 billion of the fund to refinance the company's and PT Modern PutrIndonesia debt to several banks. Modern PutraIndonesia is a subsidiary of Modern Internasional.

"The other, about IDR50 billion, will be used to expand 7-Eleven convenience store outlet," said Modern Internasional Director Donny Sutanto in the disclosure.

Corporate bond daily trading increased 163%

BI/exchange
19/10/2010
Irvin Avriano A.

Corporate bond daily trading increased 163%
JAKARTA: The average daily trading volume of corporate bonds during the 3rd quarter of 2010 increased by 163% or at IDR369.03 billion per day compared with daily average during the 3rd quarter of 2009 as much as IDR140.45 billion per day.

Based on data from the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) that been published today, the daily trading frequency of bonds issued by corporations, including corporate bonds and sukuk, has increased by 69%. The increasing frequency happens from 36 times per day to 61 times per day for the same period.

Ramdhan Ario Maruto, PT Anugerah Securindo Indah Head of Fixed Income Division, agreed with corporate bonds trading data. According to him, the average trading volume increased due to begin the shifting of government bonds (surat utang negara/SUN) market to the corporate bond market.

"The shifting was reflected by the habit of regular market participants transact government bond with the amount of IDR10 billion-20 billion in a single transaction, and transactions of corporate bonds began to rise from the usually IDR1-2 billion to IDR5--10 billion per transaction," he said when contacted this afternoon.

Charoen Pokphand obtain approval to stock split

BI / exchange
19/10/2010
Dewi Idam Sari (16) & Irvin Avriano A.
Bisnis Indonesia

Charoen Pokphand obtain approval to stock split

JAKARTA: PT Charoen Pokphand Indonesia Tbk, a animal feed and broiler producers listed company, plans to split the value of shares (stock split) in December.

The plan was established after receiving approval from its shareholders in general meeting extraordinary shareholders (EGM/RUPSLB) today.

Charoen Pokphand Corporate Secretary Hadijanto Kartika said, in the EGM the company successfully obtain the approval from all the attended shareholders. The stock split will be done with 1:5 ratio and will make the shares nominal reduced from IDRp50 to IDR10 per share.

"The shareholders who attended approximately 72%, the majority approve our agendas, there are few who abstained but considered also agreed, according to the rules," he told the press this afternoon.

Tuesday, October 19, 2010

NatPac denied have a default discretionary funds

BI/exchange
19/10/2010
By: Irvin Avriano A., Stefanus Arief Setiaji (09), Ratna Ariyanti
Bisnis Indonesia
NatPac denied have a default discretionary funds

JAKARTA: PT NatPac Asset Management denied any embezzlement of their investors' fund for allegedly failing to pay up the discretionary funds (KPD/kontrak pengelolaan dana), which managed by the investment management company.

NatPac Asset Management President Commissioner Marusaha Lumban Gaol said his company is in the process of improving the investment contract.

According to him, recently the company did not have any problem with their investors and the project that became the basis of the issuance of the KPD underlying asset was still running.

"Until now we do not have a problem with our investors," he told reporters today. Underlying asset that became portfolio in the KPD are promissory notes and exchangeable bond.

Fajar Wisesa operating income jumped 50.66%

Monday, 18/10/2010 15:38:52 AM
Fajar Wisesa operating income jumped 50.66%

By: Irvin Avriano A.

JAKARTA: PT Fajar Surya Wisesa Tbk operating income rose 50.66% to IDR410.02 billion in the 3rd quarter/2010 compared to IDR272.14 billion in the same period last year.

In their financial report submitted to the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) last weekend, the company also booked revenues grew 21.87% to IDR2.44 trillion.

Cost of goods sold rose 18.05% from IDR1.65 to IDR1.95 trillion and their operating expenses increased 3.74% from IDR83.77 billion to IDR86.9 billion.

The Bekasi-based company's net income rose 44.26% from IDR177.78 billion in the 2009 3rd quarter to IDR256.48 billion in the 2010 3rd quarter.

CP Prima projected revenues fell 13.56%

Monday, 18/10/2010 19:22:15 AM
CP Prima projected revenues fell 13.56%

By: Irvin Avriano A.

JAKARTA: A fisheries emitters, PT Central Proteinaprima Tbk (CP Prima), is projecting revenues decreased by 13.65% this full year to IDR5.9 trillion compared with last year revenue that booked at IDR6.83 trillion level, optimistically. The decline was still affected by the IMNV, a shrimp virus, problem that occurs in their ponds.

In the disclosure to Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today, the management company explained that revenue projection is based on the four main factors.

First, the speed of the Lampung-based company to fix IMNV viruses which have suffered in the company's ponds since 2009. Second, the continuation of the pond recovery and areas infected with the virus.

Monday, October 18, 2010

Ancora Indonesia's shareholders sell stake

BI/bursa
18/10/2010
By: Irvin Avriano A.

Ancora Indonesia's shareholders sell stake

JAKARTA: Pictet and Cie S/A Burgundy Asset Corp and Sarasin Robo Nominees (Singapore) Pte Ltd, shareholders of PT Ancora Indonesia Resouces Tbk, release thier company's stock on October 13th.

Based on the stock ownership portion in published disclosure today, it shows the ownership of Pictet and Cie was not recorded again on October 13th from the previous portion of 11.04% ownership or 194.99 million shares on October 16th. Ownership was already decrease from 11.82% position or 208.78 million shares at the end of August.

The portion of Sarasin Robo is also reduced from 11.79% or worth 208.22 million shares at the end of August to 11.04% or as much as 194.99 million shares on October 13th.

Saturday, October 16, 2010

Taiwan instant noodles rejection not affect Indofood rating

Friday, 10/15/2010 16:41:14 AM
Taiwan instant noodles rejection not affect Indofood rating

By: Irvin Avriano A.

JAKARTA: PT Pemeringkat Efek Indonesia (Pefindo) assess the rejection of instant noodle products of PT Indofood Sukses Makmur Tbk and its subsidiary in Taiwan case did not affect the company's outstanding bond rating.

Pefindo analyst Vonny Widjaja and Niken Indriarsih in a release today stating that the product withdrawal does not matter, because the distribution of the consumer products only 1% of the export value of instant noodles and 0.03% of total sales of instant noodle.

"However, Pefindo still monitoring the impact of the withdrawal of instant noodles in Taiwan and on domestic sales for Indofood," Vonny said in the release.

Akasha Wira pocketed IDR200 billion loan commitment

Friday, 10/15/2010 14:51:41 AM

Akasha Wira pocketed IDR200 billion loan commitment
By: Irvin Avriano A.

JAKARTA: PT Akasha Wira International Tbk, a manufacturer of bottled drinking water brand Ades and Nestle Pure Life, has secured a loan from PT Bank Internasional Indonesia Tbk worth maximum IDR200 billion.

In the official disclosure to the Indonesia Stock Exchange today, the emitters mentioned the loan which was signed on September 2nd will be used to acquire assets of hair cosmetics company PT Damai Sejahtera Mulia worth US$5 million. The amount is equivalent to IDR45 billion, according to company calculations.

"A total of IDR35 billion from the loan will be used to acquire assets of Damai Sejahtera," as quoted from the release.

Friday, October 15, 2010

Pertamina finalized 21,9% Medco stake acquisition

BI/bursa
15/10/2010
Irvin Avriano A.

Pertamina finalized 21,9% Medco stake acquisition

JOHANNESBURG: PT Pertamina finalized the agreement to acquire 27.9% stake of Panigoro family's corporation, PT Medco Energi Internasional Tbk indirectly.

Based on Pertamina's press release this evening, the pinciples of agreement was made by the state owned enterprise (SOE) with the owner of 50,7% stake of Medco, Encore Energy Pte Ltd (EEPL).

Sunday, October 10, 2010

ADES stock prices: among the deepness of Nadine's cleavage, AQUA delisting, and high capital market euphoria

10/10/2010
Irvin Avriano A.

ADES stock prices: among the deepness of Nadine's cleavage, AQUA delisting, and high capital market euphoria

Riding on a gigantic white horse runs cross a plenteous field, Nadine Chandrawinata's semi-blond hair waved by the wind. With a backless-sexy white dress that overlooked her outdare cleavage, unfortunately only in seconds, the stupid-accused-2005-Miss Indonesia parse her hair which waving too frequent.

That is a 46 seconds advertising of Makarizo Hair Repair by hair cosmetics branded Makarizo, played in our local television network quite often these days.

The brand was hold by PT Makarizo Indonesia and the product produced by PT Damai Sejahtera Mulia, a company which commandeered by Daniel Hendro Tawang. Beside Makarizo brand which have been trademarked, Damai Sejahtera was also produced another brand, such as Vorsatz, Spa, Creator, T1, and MK3 which came from the same brand holder.

I wandered, after the falling of corporate's brand after its model, Luna Maya, trapped by sex scandal with Ariel and Cut Tari, they are very rare published an advertisement since last year. Is it a way to re-branding their fallen image? Or its related what happen to their producer?

Analyst: SUN market will flat next week

BI/bursa
Irvin Avriano A. & Stefanus Arief S. (09)

Analyst: SUN market will flat next week
JAKARTA: Analyst predicted price of the Indonesian government bond (surat utang negara (SUN) will move slightly next week.

Ramdhan Ario Maruto, PT Anugerah Securindo Indah Head of Fixed Income Division, said it will happen because local investor will hold the hiked price that happen before to limit the gain they already had.

"They want to limit their target in the next year, that will underpinned by how much gain they earn this year," he said to Bisnis today.

He said the price record-breaking that has occurred almost every day also has entered the final stage because the transactions volume of local market players have also been declining, indicating speculative transactions is reduced.

Friday, October 8, 2010

Arpeni will issue US$60 mio convertible bond and US$70 mio new shares

BI/bursa
8/10/2010
Irvin Avriano A.
Bisnis Indonesia


Arpeni will issue US$60 mio convertible bond and US$70 mio new shares

JAKARTA: Emitters of bulk and liquid shipping PT Arpeni Pratama Ocean Line Tbk will issue convertible bonds worth US$60 million and will issue new shares amounting to US$70 million to inject capital.

In its information disclosure to the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today, the company who commandeered by Oentoro Surya was plan to issuing debt securities to a single investor. The initial deal was outlined in a term sheet which also confirms the tenure of the bonds would be 5 years.

"Term sheet also requires the investor would purchase as much as 35% from US$70 million of company's new shares issuance which will be issued simultaneously with the convertible bonds issuance," said Arpeni Director & Corporate Secretary Ronald Nangoi in the disclosure.

Bhakti Investama delay US$107 mio bond conversion

BI/bursa
8/10/2010
Irvin Avriano A.
Bisnis Indonesia

Bhakti Investama delay US$107 mio bond conversion

JAKARTA: PT Bhakti Investama Tbk intended to delay the schedule of conversion of its convertible bonds worth US$107 million to be the company's stock.

The information was revealed in extraordinary general meeting of convertible bond holders (RUPTBUK) agenda in the company information disclosure submitted to Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today.

"RUPTBUK Agenda: Approval for restructuring of convertible bond I/2007 Bhakti Investama with fixed rates," said Bhakti Investama Director Darma Putra in the information disclosure today.

In the letter, the company intends to seek approval from bondholders to allow the delay. In addition, the company also intends to give mandate to the convertible bond trustee to do everything necessary related to this restructuring.

Thursday, October 7, 2010

Krakatau Steel pocketed president approval

BI/bursa
7/10/2010
Irvin Avriano A.
Bisnis Indonesia

Krakatau Steel pocketed president approval
JAKARTA: Government have approved PT Krakatau Steel IPO plan that been poured in the government decree (peraturan pemerintah/PP).

Two executive in the capital market informed that the approval has been signed by the president on Wednesday.

"The approval has been given, the plan will succeed until the Ministry of State Owned Enterprise give similar approval," said them today.

One of the source said the future stock emitters planned to get pre-effective statement of IPO from Capital Market and Financial Supervisory Agency (Bapepam-LK) on Monday.

Hence, the delayed government approval made the IPO schedule step back for a few days, until the emitters a new schedule for the pre-effective statement on Tuesday.

Pre-effective statement needed by the emitters to continue the IPO process to the bidding process to the future investors.

Three MI licence revoked: IDR10 bio paid-up capital should comply at the end of the year

BI/exchange
8/10/2010
Irvin Avriano A. & Dewi Idam Sari (16)
Bisnis Indonesia
Three MI licence revoked: IDR10 bio paid-up capital should comply at the end of the year

Investment managers whose licenses revoked:
PT AmCapital Indonesia
PT Majapahit Securities Tbk
PT Masindo Artha Securities

Investment managers whose activities are limited (on-suspend):
PT Credit Suisse Investment Management Indonesia
PT Ekokapital Securities
PT Falcon Asia Resources Management
PT Natpac Asset Management
PT Sarijaya Permana Sekuritas

Fund managers are still investigated by PP Bureau *:
PT Bumiputera Capital Indonesia
PT Eficorp Sekuritas
PT Harvestindo Asset Management
PT Optima Kharya Capital Management
PT Optima Kharya Capital Securities
PT Pavillion Capital
PT Signature Capital Indonesia

Investment managers whos paid-up capital less than IDR10 billion:
PT Anugra Nusantara Asset Management, IDR5 miliar
PT Bhakti Asset Management, IDR5 miliar
PT Dongsuh Investment Management, IDR5 miliar
PT Harvestindo Asset Management, IDR5 miliar
PT Intru Nusantara, IDR5 miliar
PT Lautandhana Investment Management, IDR5 miliar
PT Minna Padi Investment Management, IDR5 miliar
PT Natpac Asset Management, IDR5 miliar
PT Pavillion Capital, IDR5 miliar
PT Peak Capital, IDR5 miliar
PT Prime Capital, IDR5 miliar
PT Prospera Asset Management, IDR5 miliar
PT Reliance Asset Management, IDR5 miliar

*) Investigated by Investigation Bureau of Bapepam-LK, which also on-suspend
Source: Bapepam-LK Mutual Funds Information Centre

JAKARTA: Licence investment managers (MI) from three securities companies was revoked by the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) in the middle of tightening and control of the investment management industry.

The three companies PT Majapahit Securities Tbk (formerly PT Asia Kapitalindo Securities Tbk), PT Masindo Artha Securities, and PT AmCapital Indonesia.

Based on the data stock market authorities, the three investment managers (MI) is no longer listed on the Bapepam-LK Information Center Fund website.

Investment Management Bureau Chief of Bapepam-LK Djoko Hendratto comfirmed the revoking of IM licence from the three company, but the companies still can do business as usual with other licence.

"All three MI licence are revoked, but the action has nothing to do with the increasing capital in the industry, just because the improvement quality of MIs," he told Bisnis yesterday.

He said one vital mistake that caused the three companies licence revoked is a lack of commitment from management and owners of companies to continue business as MI. According to him, because of lack of commitment that, in general these companies do not comply with the orders and regulations that have been reminded several times.

When confirmed, the Director of Majapahit Securities Wim Al Fatih said the securities company had already returned its investment manager license because he wanted to focus on brokerage division and underwriting, not revoked.

"The permit was not revoked, but we return it because we want to focus on brokerage and underwriting."

Djoko added AmCapital already making changes that better management structure, shortly before the permit is revoked. However, he said, they gave the company's licence and they can request for a new license when the company was ready enough with the MI division.

AmCapital Indonesia president director Mustofa not reply short message service delivered yesterday afternoon when tried to confirmed.

IDR10 bio paid-up capital should comply at the end of the year
Last week, capital market authorities and the Ministry of Finance has just endorsed the Finance Minister Decree No.153/PMK.010/2010 to delay the schedule additional paid-in capital of securities company and MI gradually. The decree revised the Finance Minister Decree No.179/KMK.010/2003.

Terms of the final schedule was set back from the previous increase in paid up capital of IDR25 billion in the next year and delay until the end of 2012. Thus, the MI shall have a minimum paid up capital of IDR10 billion by the end of this year, amounting to IDR20 billion by the end of next year, and amounted to IDR25 billion by the end of 2012.

Currently there are 13 MI whose capital is below IDR10 billion (see table). Djoko said the capital market authorities still develop the industry by encouraging MI to comply with regulations, especially some newly issued regulations. For example, about nine mandatory function in the company and about the paid-up capital adding.

"We still push them so they remain comply with the regulations, and keep our eye so they can increase the paid up capital at the end of the year [to IDR10 billion]."

Vice Chairman of the Indonesian Mutual Fund Administrator Association (Asosiasi Pengelola Reksa Dana Indonesia/APRDI) Bowo Witjaksono Suhardjo said the association also intends to propose this distinction between added paid-up capital for local and foreign MI.

In addition, he said, the association will also be proposed distinction paid for MI by focusing efforts on opened product (for public only) and closed products (private placement).

"If MI is focused on public products the paid-up capital may be lower because the stakes are lower and the risks are more diversified, compared with MI with closed products."

Local investor only given small portion in Indofood CBP IPO

BI/bourse
7/10/2010
Irvin Avriano A., Stefanus Arief S. (09), Gita Arwana C. (06), Idam Sari Dewi (16)
Bisnis Indonesia

Local investor only given small portion in Indofood CBP IPO

JAKARTA: PT Mandiri Sekuritas only get below 10% portion of allotment in PT Indofood CBP Sukses Makmur Tbk in its initial public offering, that indicating local investors in the listing action was small.

"The majority of foreign investors is greater than the local [investors], [our allotment portion] were just under 10%," said Mandiri Sekuritas Director Kartika Wirjoatmodjo told reporters today.

Mandiri Sekuritas is one of four underwriter of the shares issuance. In addition to state-owned securities company, the other underwriter is PT Deutsche Securities Indonesia, PT Kim Eng Securities, and PT Credit Suisse Securities Indonesia.

In the IPO, the company release off as much as 1.16 billion shares, or 20% of the total outstanding shares after the offering. The funds obtained from the shares issuance worth IDR6.29 trillion.

Indofodd CBP is one of subsidiary of PT Indofood Sukses Makmur Tbk, a combination of several divisions of instant noodle manufacturers, milk, seasoning, and other consumer products.

Head of Corporate Finance Kim Eng Securities Setiawan Darmawidjaja justify the small portion of local investors in the IPO. He said foreign investors seek to buy the shares because of the new issuance from one of a Salim Group corporation was judged promising and good, fundamentally.

"The domestic macro economy is still good, both supporting the foreign investor judgment."

Werianty Setiawan, Indofood Sukses Makmur Corporate Secretary and also the Indofood CBP director, said the company help organize the distribution of allotment in the allocation of Indofood CBP new shares. He also denied the notion that states the company's management determines the portion of the allotment of investors.

"We and the underwriter, together."

Shares of companies whose coded ICBP stands at IDR5,850 level this afternoon, which had reached to the highest level IDR6,200 on at 9.30 this morning. The company share prices opened climbed a little to level IDR6,000, in the trading opening this morning, from the initial price of the shares IDR5,395.

Indocitra plans rights issue IDR3.6 trillion

BI/bursa
7/10/2010
By: Irvin Avriano A. & Dewi Idam Sari (16)
Bisnis Indonesia

Indocitra plans rights issue IDR3.6 trillion

JAKARTA (Bisnis.com): PT Indocitra Finance Tbk plans to held a limited public offering (rights issue) with the rights of preemptive of 1.44 billion shares worth of IDR3.6 trillion.

Indocitra Finance management said in a statement to Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) this morning that they will present the rights issue plan in extraordinary general meeting of shareholders (EGM) which will be held on November 10th.

The company's management announces that the new shares will be sold at nominal value IDR500 per share and will be offered by Rp2,500 price per share.

As much as 76.39% of the funds from the rights issue, or amounting to IDR2.75 trillion will be used to order 99.65% from Amstelco Plc new shares issuance, or as much as 20 billion shares.

Amstelco is an investment company based in the UK. Amstelco is currently focusing on the natural resources, oil and gas, and mining sectors, directing its attention on expansion in Asia. Amstelco with PT Northstar Pacific Indonesia noted is seeking opportunity to acquire 10% stake in PT Newmont Nusa Tenggara (NNT) last year.

Also as much as 0.0278% of the funds will be used to acquire 99.99% stake in PT Amstelco Energy Resources, or 999,999 shares of par value of IDR1,000 per share.

Furthermore 23.58% of the remaining funds will be used for working capital and rights issue emission cost.

The emitters, in the EGM agenda, also seek arrpoval from its investors to increase the paid up capital of IDR50 billion to IDR5 trillion.

The company's paid-in capital will be jacked up from 48 million shares total nominal value of IDR24 billion, to a number of 1.48 billion shares worth of IDR744 billion.

After the rights issue, the company also intends to release as much as 10% of shares within 12 months.

The emitters was also planned to change its name to PT Amstelco Indonesia Tbk and replace the previous business of multifinancing company into general trading sector.

The company's shares that coded INCF stagnant at IDR770 level this afternoon and establish its market capitalization to IDR36.96 billion.(YUS)

Tuesday, October 5, 2010

Petrosea stock split with 1:10 maximum ratio

BI/bursa
5/10/2010

Irvin Avriano A.
Bisnis Indonesia

Petrosea stock split with 1:10 maximum ratio

JAKARTA: PT Petrosea Tbk, one of a mining contractor stock emitters, intends to split it stock nominal as much as 1:10 maximum ratio.

In an information disclosure to Indonesian Stock Exchange (IDX/PT Bursa Efek Indonesia) today, Petrosea President Director Richard Bruce Ness explained that the emitters were trying to ask for it shareholders approval for the corporate action plan.

The company will held an extraordinary general of shareholder meeting (rapat umum pemegang saham luar biasa/RUPSLB) to seek the approval.

Besides the stock split, the company will also suggest to re-arrange their management and supervisory team, and also to revise the company's charter.

PT Indika Energy Tbk, the parent company of Petrosea, rumored had appointed Macquarie Securities and Citigroup as joint bookrunner to sell at least 18% of Petrosea shares during a secondary offering that they have planned earlier.

The secondary offering will be held in last quarter of the year, after the stock split is completed.

At the end of June 2010, Indika controled 99.38 million shares of Petrosea or 98.55%, while 1.45% belongs to public investor.

Today, Petrosea stock that coded PTRO closed stagnant at IDR28,000 level, formed IDR2.82 trillion market capitalization for the company.

While Indika shares that coded INDY weakened 0,74% or IDR25 to IDR3,350 level and accumulate IDR17,44 trio for the shares market capitalization.

Multifiling, Megapolitan, and Martina Bento to IPO this year

BI/bursa
5/10/2010
Irvin Avriano A., Stefanus Arief S. (09), & Dewi Idam Sari (16)
Bisnis Indonesia

Multifiling, Megapolitan, and Martina Bento to IPO this year

JAKARTA: Three future stock emitters had submit documents for their initial public offering (IPO) plan to Indonesian Stock Exchange (IDX/PT Bursa Efek Indonesia), namely PT Multifiling Mitra Indonesia, PT Megapolitan Development, and PT Martina Bento.

IDX President Director Ito Warsito said the three company will issue their stock this year.

"First Multifiling, and then Megapolitan, I forgot the other company," said him to the press in the house of Bapepam-LK today.

IDX Company Appraisal Director Eddy Sugito added Multifiling will use PT Ciptadana Securities's service as their underwriter in the IPO plan, while Megapolitan will use service from PT Henan Putihrai Securities.

"The other future emitters are Martina Bento, a division from cosmetics producer Martha Tilaar Group, that carried by PT Trimegah Securities Tbk."

After they got preliminary listing contract from the IDX, the company can submit the registration statement to Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) to get effective statement for their IPO plan.

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