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Friday, November 26, 2010

Inovisi will issue new shares worth IDR580.5 bio

BI / exchange
14/11/2010
Irvin Avriano A.

Inovisi will issue new shares worth IDR580.5 bio

JAKARTA: PT Inovisi Infracom Tbk intend to raise fund from a non-preemptive rights worth IDR580.5 billion for their new stock exchange with shares of two companies that want to be acquired.

In its release today, the Inovisi Corporate Secretary Benita Sofia said they will issue as many as 107.5 million new shares to the Novel Capital Ltd and True Accurate Ltd which is also investor of the two acquired companies that want the company, which is abundant Global Ltd and Great World Ltd.

Malindo's stock trading suspended

BI / exchange
12/11/2010
Irvin Avriano A.
Bisnis Indonesia

Malindo's stock trading suspended

JAKARTA: PT Malindo Feedmill Tbk's shares trading transaction suspended by the stock exchange authorities since its climbed 134.09% or IDR1,100 from IDR1,475 level on October 28th to IDR2,575 on November 11th.

"Indonesia Stock Exchange [IDX] need to do a temporary suspension of shares trading in order to cooling down [reduction of trade tensions] of Malindo's shares on November 12th," said Indonesian Stock Exchange Head of Stock Transaction Control Division Irvan Susandy.

He revealed it in the disclosure of information stock exchange authority today.

The company's shares has provided benefits to its owner of 2,00.05% since late last year from IDR900 level.

He also said the trading halt was made at the regular market and cash market, with the aim to provide sufficient time for investors and other market participants to consider the direction of its investment.

Until now, the management of the issuer has not submitted the corporate action plan which they want to execute early next year. In a previous disclosure to the stock exchange, they admit to doing a corporate action, but details are still yet to be disclosed because it was still formulated.

On November 5th, one of the directors of the company, Tang Ung Lee, sold 20,000 of his company's shares so his ownership reduced to 266,500 shares or make portions of its shares in the listed companies amounted to 0.08% in the company.

The last position of the companies' shares that coded MAIN pinned at IDR2,575, forming its market capitalization amounted to IDR872.93 bio.

Gozco Plantations target 2011 net profit IDR180 bio

BI / exchange
11/11/2010
Irvin Avriano A.

Gozco Plantations target 2011 net profit IDR180 bio

JAKARTA: PT Gozco Plantations Tbk target a net profit to reached IDR180 billion next year, an increase of 20% from the targeted IDR150 bio at the end of this year.

Gozco Plantations Director Kreisna Dewantara Gozali said the company also targets revenue to increase by IDR425 bio by the end of this year.

He was optimistic the company will achieve the end of year target because the company's core farm production in 2ndH/2010 will still higher from 1stH/2010 production.

"Most of the raised production comes from our core, while the plasma is much reduced," he told the press today.

Kertas Basuki Rachmat reduce rights issue to IDR596.85 bio

BI / exchange
18/11/2010
Irvin Avriano A.

Kertas Basuki Rachmat reduce rights issue to IDR596.85 bio

JAKARTA: PT Kertas Basuki Rachmat Indonesia Tbk plans to reduce the value of its rights issue plan worth IDR604.29 billion to IDR596.85 bio.

In the company revised prospectus published today indicated the allocation of funds for working capital of the company fell from IDR9.41 bio, which was announced in the previous prospectus, to IDR1.97 bio.

The majority of funds from the issuance of the company new shares will still be used to pay off its debt to Quest Corporation amounting to IDR544.87 bio. The company also plans to use the rights issue funds to pay costs to restructure its debt to the Quest of IDR50 bio.

The company's old prospectus indicated the portion of the existing shareholders of the company could be diluted at a maximum of 75.61% if not execute its preemptive rights and warrants that will issued by the company.

However, in the revised of the new prospectus not show the potential reduction in ownership portion of the of investors after the rights issue executed.

The paper producer also has appointed PT Henan Putihrai as its standby buyer, which refers to the investors who managed under the securities company.

In that corporate action, the company issued a total of 5.98 bio C series new shares with a nominal value of IDR100 and IDR101 offering price per share. The value of new stock is as much as 75.61% of the total shares of the company.

The company also issued a total of 199.43 million IInd warrants. The warrants were valued at IDR20.94 bio with a nominal value of IDR100 and IDR105 offered value.

Five director Pupuk Kaltim dismissed

BI / exchange
16/11/2010
Irvin Avriano A.

Five director Pupuk Kaltim dismissed

JAKARTA: Five directors of PT Pupuk Kaltim dismissed, including chief executive and finance director, and only four positions that have been replaced. Pupuk Kaltim is one of a bond issuers in the capital market.

In the corporation information disclosure to the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia) today stated the company has not been appointed a new finance director, while the previous official Eko Sunarko also removed from his position.

This was a result of the extraordinary general meeting of shareholders company held on November 12th.

Bakrie Plantations appoint Credit Suisse and Deutsche Bank

BI / exchange
15/11/2010
Irvin Avriano A.
Bisnis Indonesia

Bakrie Plantations appoint Credit Suisse and Deutsche Bank

JAKARTA: PT Bakrie Sumatera Plantations Tbk, a listed Bakrie Group plantations company, appoint two global investment banks, Credit Suisse and Deutsche Bank as arranger of issuance of global bonds which amount planned US$200 million.

"The investment bank had eliminate several other banks that participated in the selection of the arranger," said a source in the capital markets whose involved in the transaction to Bisnis yesterday.

Capitalinc issue non-preemptive rights IDR120 bio

BI/exchange
15/11/2010
Irvin Avriano A.

Capitalinc issue non-preemptive rights IDR120 bio

JAKARTA: PT Capitalinc Investment Tbk, one of a Recapital Advisors Group company, intends to issue new shares with non-preemptive rights worth 72.87 million shares, with a value of around IDR120 billion.

Capitalinc Director Budi Prihantoro said the company plans to use funds from the nonpreemptive rights to pay off the promissory notes (PN) which is the debt of a subsidiary of the newly acquired oil and gas sector company.

"One of the requirements submitted by investors is that they want the level of our DER [debt to equity ratio] decline from now," he said when contacted this afternoon.

Based on data from the company stock trading today, companies' shares which coded MTFN it closed at IDR1,600, so that the value of the fund raised around the level of IDR116, 59 billion.

In the disclosure of information to the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today stated the company also has appointed PT Madani Securities as financial advisers.

He said the company also plans to use some funds from the issuance of shares to funding the oil and gas subsidiary. The five blocks newly acquired company is PT Kutai Etam Petroleum, PT Kencana Surya Perkasa, PT Mosesa Petroleum, PT Cahaya Batu Raja Giok, and Greenstar Assets Ltd.

Company, he said, also plans to delay stock split, which previously had scheduled in an extraordinary general meeting of shareholders (EGM) of the company. He also said rights issue is still an option for company to be done early next year.

Capitalinc's stock prices which coded MTFN formed its market capitalization amounted to IDR1.16 trillion.

Malindo not set a new net income target

BI / exchange
15/11/2010
Irvin Avriano A.
Bisnis Indonesia

Malindo not set a new net income target

JAKARTA: A listed animal feed company, PT Malindo Feedmill Tbk, not to increase this year's net income target that have been achieved in 3rdQ/2010, which was booked at IDR112.11 billion level.

Based on financial statement published today, the company recorded an increasing net income by 97.89% from IDR56.65 bio that was recorded in the 3rdQ/2009. In the late last year, the company posted a net profit of IDR75.97 bio, and their net profit targets set at the end of this year amounted to IDR83.56 bio.

"Our net profit target for this year only 10% [from last year], and has been achieved, but we have not set a new target," said Malindo Corporate Secretary Rudy Hartono when contacted yesterday.

He also explained the company did not set target for their revenue and only hope its equivalent to that recorded last year amounted to IDR1.86 trillion.

He said the company increased net profit was mainly supported increased revenure IDR36.19 billion, or 2.54% from IDR1.41 trillion in the 3rdQ/2009 to IDR1.45 trio per 3rdQ/2010.

In addition, he continued, the company also take benefits from declining prices of corn which is a main ingredient in the animal feed company this year, compared with last year.

According to him, facing an increasing corn global price which hit a record in October will not be taken effect on the company's financial performance because the company had locked the price when commodity prices are low at the middle of the year.

"That's been our key to the price, so our purchasing price will not rise high as what happened in the market."

According to him, the condition is also supported by reduction in cost of revenue of the company. Decrease in cost of goods sales was recorded at 4.37% from IDR1.25 trio per 3rdQ/2009 to IDR1.2 trio for the 3rdQ/2010.

He also said feed raw material purchase strategy is also one of his company's main weapons to reduce cost of good sales. He said the company benefited from the application of purchase techniques with a credit system which time is shorter or only by cash, so the burden is not as high as last year's purchases.

In the 3rdQ/2010, the company also posted a net profit margin of 7.7%, which was increased by 92.97% of net profit margin in the 3rdQ/2009 amounted to 3.99%.

Rudy adding the company still can not disclose its corporate action plan is planned to be held early next year. According to him, a plan of action unrelated to raising funds through the equity and the value also not significant, so it will not much affect the company stock price.

He added that the management also have explained the plan to stock exchange authorities that the plan still have not matured so that can't be delivered yet. Rudy explained the company also believes the plan is not yet known to market participants so that the causes of rising stock prices that happen nowadays not caused by the company's corporate action plan.

In addition, he said, the cause of delays in preparing the company's financial statements is because there are technical errors in information technology in the stock issuer.

Company's stock price that was coded MAIN close higher by 24.27%, or IDR625 to IDR3,200 level yesterday afternoon and establish its market capitalization amounted to IDR1.08 trio. Since late last year, the stock has given return of investment of 277.06% to their investors.

The share price was about hit the upper limit of trading after a suspension of trade opened this morning. Suspension is stock exchange authorities at the end of last week is intend to calm the market due to increased price of 134.09% or IDR1,475 to IDR1,100 at the close of October 28th, to IDR2,575 on November 11th.

The largest shareholder of the company that led by Lau Chia Nguang it is Dragon Amity Ltd. as much as 59.1% as of end of September. The rest is held by public by 40.9%.

Malindo booked 97.89% increased net profit to IDR112.11 bio

BI / exchange
15/11/2010
Irvin Avriano A.
Bisnis Indonesia

Malindo booked 97.89% increased net profit to IDR112.11 bio

JAKARTA: A listed animal feed producer, PT Malindo Feedmill Tbk, posted a net profit increased by 97.89% from IDR56.65 billion per 3rdQ/2009 to IDR112.11 billion in the 3rdQ/2009.

Based on financial reports published today, the increasing net profit was booked due to increased revenue of IDR36 billion, or 2.54% from IDR1.41 trillion in the 3rdQ/2009 to IDR1.45 trillion per 3rdQ/2010.

In addition, the increasing revenues was also accompanied by a decrease in cost of good sold amounted to 4.37% from IDR1.25 trillion to IDR1.2 trillion for the same period.

Per 3rdQ/2010, the company posted a net profit margin of 7.7%, which was increased by 92.97% of net profit margin in the quarter amounted to 3.99% III/2009.

Stock price that was coded MAIN close higher by 24.27%, or Rp625 to Rp3.200 levels this afternoon and establish its market capitalization amounted to Rp1, 08 trillion. Since late last year, the stock has given return of investment of 277.06% to investors.

The share price was about the upper limit of trading after a suspension of trade opened this morning.

Suspension is stock exchange authorities at the end of last week to calm the market due to increased price of 134.09% or Rp1.475 Rp1.100 at the close of October 28, 2010 to Rp2.575 on November 11, 2010.

Even the target has reached, the company haven't set a new target.

Astra Agro FFB 10m2010 production decreased 2.9%

BI / exchange
15/11/2010
Irvin Avriano A.

Astra Agro FFB 10m2010 production decreased 2.9%

JAKARTA: PT Astra Agro Lestari Tbk's fresh fruit bunches (FFB) production slightly decreased by 2.9% from 3.56 million tonnes in January--October 2009 to 2.46 million tonnes during January--October 2010.

In a monthly report to investors on its web site to the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia), the company's FFB yield production was also decreased by 8.5% from 18.05% in the first 10 months of 2009 to 16.51% since the beginning of the year to October 2010.

Slightly different from the production, the number of processed FFB by the company increased slightly by 0.5% from a total of 3.9 million tonnes to 3.91 million tonnes in the same period. The increase was supported by the processing of FFB from third parties as much as 36.1% or as much 333,699 tons from 10m2009 to 454,024 tons from 10m2010.

Production of company's crude palm oil (CPO) in the 10m2010 also increased slightly by 0.1% from the level of 896,912 tonnes as of October 2009 to 897,711 tonnes as of October 2010. Production of palm kernel also increased slightly by 0.3% from 193,180 tonnes by October 2009 to 193,803 tonnes as of October 2010.

Listed securities company's revenue dropped: Intensity of local investor trading slowed

BI/bursa
13/11/2010
Irvin Avriano A.
Bisnis Indonesia

Listed securities company's revenue dropped: Intensity of local investor trading slowed

JAKARTA: The capital market vibrant condition has not been able to move the majority of the commission income of securities company which revenue declining during the 3rd quarter/2010, compared to the same position in the 3rd quarter/2009.

It was considered as the result of the declining of local investor interest to trading in local capital market.

The brokerage commissions that also affects the declining revenue because the account usually became the largest revenue contributor.

Financial reports from eight securities that have been published shows, from exactly nine listed company, indicate as many as five securities which experienced a declining brokerage commission that recorded on their September financial statement. The decline occurred as compared to the same period last year.

The amount is inversely to the three issuers from the same sector which posted an increasing brokerage commissions.

Pefindo affirms Bank Sulut A-

BI / exchange
12/11/2010
Irvin Avriano A.

Pefindo affirms Bank Sulut A-

JAKARTA: PT Pemeringkat Efek Indonesia (Pefindo) affirm the IV/2010 PT Bank Sulut bond at idA- level. Prospect for the bond's rating and bank's rating set at stable levels.

In his research this afternoon, rating agencies also assign the same rating for the company, then the subdebt bond rating company also set at the level idBBB+.

"The rating reflects the strong support already shown from the company's shareholders, the company's position on the top of the market average, and good asset quality," said Pefindo Analyst Hendro Utomo in the research.

BCA Finance issue IDR200 bio MTN

BI / exchange
4/11/2010
Irvin Avriano A.

BCA Finance issue IDR200 bio MTN

JAKARTA: PT BCA Finance will issue medium-term notes (MTN) worth IDR200 billion that will be tenured 370-380 days in a near days.

This was revealed in the research of PT Fitch Ratings Indonesia today which shows the ratings of debt securities issuance plan was set at the level of AA+(idn). The rating agency were also set short-term national rating of the company at the level of F1+(idn).

"The rating is equated with BCA Finance long-term national ratings," said Fitch Main Analyst Julita Wikana in the research.

Thursday, November 25, 2010

Bapepam-LK give green light to EBA III IDR750 bio

BI / exchange
5/11/2010
Irvin Avriano A.

Bapepam-LK give green light to EBA III IDR750 bio

JAKARTA: The Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) gave the green light to the process of obtaining effective statement for the product of a asset-backed securities collective investment contract (kontrak investasi kolektif-efek beragun aset/KIK-EBA) III/2010 worth IDR750 billion.

The derivative product has been part of the investment portfolio of PT Sarana Multigriya Finance (SMF). SMF is also part of the securitization of the mortgage assets that will become assets of the two EBA series that has been issued earlier.

The green light was conducted because PT Mandiri Manajemen Investasi agreed to form and distribute the EBA-based protected funds that will utilize the derivative securities. The mutual funds are scheduled to become the first capital market investment products based with EBA I & II that already issued.

Perumnas and Ideas Elit Mulia issue IDR30 bio and US$200 mio MTN

BI/exchange
2/11/2010
Irvin Avriano A.

Perumnas and Ideas Elit Mulia issue IDR30 bio and US$200 mio MTN

JAKARTA: PT Perum Perumnas and PT Ideas Elit Mulia issue medium-term notes (MTN) worth IDR30 billion and US$200 million.

In the information disclosure of Indonesian Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) today is indicated coupon for Perumnas debt securities are 14% that will be paid every 3 month to its investors. The property developer's debt securities will mature in November next year.

The debt securities issuance is following the earlier Perumnas' MTN issuance earlier this year valued at IDR100 billion. The MTN that planned to be issued in the second half of this year that projected amount up to IDR100 billion is required to build up a reserve of land (land bank) to 20,000 hectares, from the current area of 2,500 hectares.

BI and Bapepam-LK unite in Bumiputera-NatPac examination

BI / exchange
4/11/2010
By: Irvin Avriano A.

BI and Bapepam-LK unite in Bumiputera-NatPac examination

JAKARTA: Examination and evaluation from Bank Indonesia (BI) to PT Bank ICB Bumiputera Tbk, associated with distribution of discretionary fund (kontrak pengelolaan dana/KPD), which ever occurs, is a result of its cooperation with the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).

"Inspection is the result of cooperation the two of us [Bapepam-LK with BI], although there are parts of each task. Examination There were no results, so more suitable to evaluate said first, saw nothing wrong or not," said Investment Management Bureau Chief of Bapepam-LK Djoko Hendratto to the press this afternoon (4/11/2010).

Wednesday, November 24, 2010

IDX summoned Bumi Teknokultura

BI/exchange
4/11/2010
Irvin Avriano A.
Bisnis Indonesia

IDX summoned Bumi Teknokultura

JAKARTA: Indonesia Stock Exchange (IDX/Bursa Efek Indonesia) calls PT Bumi Teknokultura Unggul Tbk management, related with the company's plan to buy a forestry company in North Bengkulu.

The target company is PT Bentara Agra Timber, with transaction worth IDR35 billion.

IDX Company Assessment Director Eddy Sugito said the invitation was intended to identify company's business plan that has not been clear.

"There is something that has not been clear with their business plan, but we do not know what, we just want to clear their plans that already presented in their information disclosure," said Eddy to the press yesterday.

Truba's investor reduce the portion of its shares

BI / exchange
4/11/2010
By: Irvin Avriano A.
Bisnis Indonesia

Truba's investor reduce the portion of its shares

JAKARTA: A shareholder of PT Truba Alam Manunggal Engineering Tbk, Indo Infrastructure Group Pte Ltd, reduce the portion of ownership in the stock issuer from 14.72% to 12.77%.

Based on the information disclosure of the company to the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia) today Truba President Director Sidarta Sidik said Indo Infrastructure sell some of its shares or as many as 306.79 million shares to two another Truba investors.

The investors are BNP Paribas Arbitrage SNC and Credit Suisse Europe Ltd Prime Brokereage.

Mutual funds unit only grow slightly on October

BI / exchange
3/11/2010
By: Irvin Avriano A.
Bisnis Indonesia

Mutual funds unit only grow slightly on October

JAKARTA: Mutual fund units only increased by 0.1% or as much as 830 million units during October, which indicate an increasing number of investors purchased a new unit only slightly. The data is believed to be the contribution from increased units from protected type of mutual fund.

Mutual Fund Data Information Center from Bapepam-LK that released yesterday shows the units of the mutual fund industry increased from 77.37 billion units to 78.2 billion units.

PT Infovesta Utama analyst Rudiyanto said the increasing number was most likely just caused by the addition of units of protected mutual fund.

Bank Panin bond coupon set at 9% and 10.5%




BI/bursa
2/11/2010
Irvin Avriano A.
Bisnis Indonesia

Bank Panin bond coupon set at 9% and 10.5%


JAKARTA: PT Bank Pan Indonesia Tbk (Bank Panin) set the conventional bond and subordinate bond coupon at the level of 9% and 10.5% with a total value of the issuance of IDR3 trillion.

In the announcement from PT Kustodian Sentral Efek Indonesia (Indonesian Central Securities Depository) this afternoon indicated the composition of the issuance of debt securities has changed a little, from the initial plan of conventional bonds amounting to IDR500 billion to IDR540 billion.

The subordinated bonds of the bank that coded PNBN amount itself changed to IDR2.46 trillion from the initial plan of IDR2.5 trillion.

Tuesday, November 23, 2010

Medco issues another MTN US$50 million

BI / exchange
2/11/2010
Irvin Avriano A.
Bisnis Indonesia

Medco issues another MTN US$50 million

JAKARTA: PT Medco Energi Internasional Tbk issues medium term notes (MTN) worth US$50 million with a coupon of 6.375% maturing in 2013.

In the disclosure of information to the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today, Medco President Director Darmoyo Doyoatmojo explain PT Bahana Securities and PT Kresna Graha Sekurindo Tbk helped the company to in issuing the debt as lead underwriter.

The MTN targeted also targeted institutional investors.

EBA based mutual fund worth IDR200 billion ready to sell

BI / exchange
1/11/2010
Irvin Avriano A.
Bisnis Indonesia

EBA based mutual fund worth IDR200 billion ready to sell

JAKARTA: PT Mandiri Manajemen Investasi gets approval from the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) to distribute its asset-backed securities (ABS/efek beragun aset/EBA) DSMF-BTN I/2009 and I I/2009 based protected funds, to its future investors.

The new mutual funds already got permission from Indonesia Central Bank, Bank Indonesia, to sell the product in several banks.

"Yes, we've got permission, we are ready to sell it in the near future. We also have achieve permit to sell it at numbers of banks," said Mandiri Investasi Director Andreas Muljadi Gunawidjaja to Bisnis. But he could not reveal the name of the banks due the formal announcement to offering the new public mutual fund.

Energi Mega intends to issue US$275 million US dollar bond

BI / exchange
2/11/2010
Irvin Avriano A.
Bisnis Indonesia

Energi Mega intends to issue US$275 million US dollar bond

JAKARTA: PT Energi Mega Persada Tbk, a Bakrie Group oil and gas company, plans to issue US dollar-denominated bonds worth US$275 million, or approximately IDR2.45 trillion, which is currently still in the process of preparation for the publication and ask for ratings.

The issuance will be issued through its subsidiary EMP International Holdings Pte Ltd and will be due until 2015.

This was revealed in a rating report by Moody's Investors Service and Standard & Poor's yesterday. Moody's rating agency assign B3 provisional ratings level for the business and corporate bond rating plan. The prospect of the two ratings was set at stable levels.

Tigaraksa seals three distribution contract worth IDR100 bio

BI/exchange
31/10/2010
Irvin Avriano A.
Bisnis Indonesia

Tigaraksa seals three distribution contract worth IDR100 bio

JAKARTA: PT Tigaraksa Satria Tbk signed a distribution and sale project contract of three company's principal brands are predicted can give contribute to their income to IDR100 billion next year.

Director & Corporate Secretary Tigaraksa Troy Parwata said the three companies are manufacturers of health products PT Galanesium Pharmasia Laboratories, Modena household equipment, and the DSG which is a manufacturer of Fitti baby diapers.

"This year there could be contributions from the three principals, but the nominal is not big and not significant to our financial statements," said him when contacted to his cellphone.

Fajar Wisesa get debt facility of US$ 120 million

BI/bourse
1/11/2010
By: Irvin Avriano A.
Bisnis Indonesia

Fajar Wisesa get debt facility of US$ 120 million

JAKARTA: PT Fajar Surya Wisesa Tbk pocketing loan facility from a consortium of banks worth US$120 million from HSBC Ltd, PT UOB Buana, and Oversea-Chinese Banking Corporation Ltd (OCBC) on October 22nd, 2010.

In a press release disclosure from the stock issuers in the Indonesia Stock Exchange mentioned that the loan facility will be used to refinance its corporate bonds consisting US$ 100 million which will expire in October next year.

"The rest can be used to fund the needs of companies other needs," said Fajar Wisesa President Director Winarko Sulistyo in the release.

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