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)

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.

Capitalinc will most of its PN issuance for debt acquisition

Capitalinc will use most of its PN issuance for liabilities acquisition

Thrusday, 23/09/2010 19:35:40 WIB

By: Irvin Avriano A.

JAKARTA: PT Capitalinc Investment Tbk will use most of its promissary notes (PN) issuance, as much as IDR64.93 billion, to paid up liabilities from 5 oil and gas companies that will be bought. Its usage will delivered from total issuance of the PN as much as IDR120 billion.

"From the issuance, IDR55.07 billion will be used for take over the equities, and the rest is for their liabilities," said Capitalinc Director Budi Prihantoro when contacted by Bisnis tonight.

The PN issuance itself already planned by the management to fund the acquisition, tenured 3 years and charged coupon around 10--12% per annum. The debt instrument will be sold to the former oil and gas owner as the purchasing payment.

The 5 companies that will acquired are 90% PT Kutai Etam Petroleum equity worth IDR4.5 billion from PT Naga Mas Surya Cemerlang, 99% PT Kencana Surya Perkasa equities worth IDR1.38 billion from PT Masagena Agung, and 24% PT Mosesa Petroleum equity worth IDR2.4 billion from PT Masagena Agung.

Beside those three companies, Capitalinc will acquire 99.5% PT Cahaya Batu Raja Blok equities worth IDR41.79 billion from PT Nusantara Gagas Energi, and 100% Greenstar Assets Ltd equities worth IDR5 billion from Thames Liberty Trading Corp.

Capitalinc already pocketed approval to buy the five oil and gas companies from its shareholders in extraordinary general meeting (EGM) that been held this Tuesday. The acquisition approval has been given simultaneously with the reorganization of its board of director and commissioner.

Sandiaga Uno, the founder of Recapital Advisors Group which is holdco of Capitalinc, resign from his in president commissioner position in the emitter. His position will be concurrently by independet commissioner, Isakayoga.

Capitalinc president director position also changed. Budi, which formerly positioned as the CEO, replaced by Seng-Hoo Ong, but he is still in charge in the company as a director. The company also have another new director, namely Vinayaka Bandagadde and Frederik Hendrik Agustinus Hehuwat. Febriansyah Marzuki was also still in his position as company's director.

The emitters also get approval from its shareholder to add business line to invest in oil and gas companies.

The price of Capitalinc shares that coded MTFN rocketing today as much as 24.71% or worth IDR210 to the IDR1.060 level and formed its market capitalization in the amount of IDR772.47 billion. (bsi)

Lippo Karawaci sets US$80 million capex

Lippo Karawaci sets US$80 million capex

Thursday, 26/08/2010 20:33:04 WIB
by: Irvin Avriano A.

JAKARTA: Publicly listed PT Lippo Karawaci Tbk (LPKR) sets US$70-US$80 million of capital expenditure (capex). The source of funds shall be derived from its bond issuance.

“30% of the capital expenditure will be generated from the bank loan, while the remaining 70% is derived from the bond issuance,” said President Director of Lippo Karawaci Ketut Budi Wijaya to the press this evening.

The bond issuance refers to the dollar-denominated debt securities issued by the company through its subsidiary Sigma Capital Pte Ltd amounting US$270 million in the second quarter of 2010.

From such bond issuance, the company also expects to construct three hospitals. The company has started the construction of two hospitals located in Tanjung Bunga, Makasar and a teaching hospital in Lippo Village, Jakarta.

Besides, the company will also use part of such fresh funds to build a real estate/apartment project in St.Moritz, Jakarta and Kemang Vilage, South Jakarta.

Ketut added that the company will find another way to seek any other source fund in order to finance those projects. One of the options is by conducting right issues.

“We still have the option to hold new stocks placement.”

The funds needed to construct such apartment reaches US$1 billion-US$2 billion as the company expects to finalize the construction over the next seven and eight years.

PT Almaron Perkasa Director Rusli, Lippo’s subsidiary controlled Kemang Villange, said that the keys handover of those three apartment towers shall begin by September and October this year.

There will be around 180-200 units per tower.

“For the initial phase, we will own seven towers,” said Rusli who also acts as director in Lippo Karawaci.

In the initial project construction, the company only executed around 9 hectare out of 15 hectare area, so Almaron Perkasa may still exploit a quite wide area in order to develop such project.

Lippo Karawaci stocks rose by 1.96% at IDR520, making the market capitalization at IDR8.89 trillion. (t02/wiw)

'Trade retail sovereign bond'

'Trade retail sovereign bond'

Thursday, 26/08/2010 11:22:37 WIB
by: Irvin Avriano A.

JAKARTA: Bond analyst suggested investors to trade on retail government bond (SUN) of FR0053 and FR0054 series.

“Although market is still likely to continue moving in limited trend or yield, investors are recommended to choose retail shares or FR0053 and FR0054 series,” Dian Abdul Hakim, bond analyst at PT Kim Eng Securities, said in a report today.

Dian said sovereign bond market is still stable, as reflected from the index of Government Securities Traders Association (Himdasun) that moved between 104.9 – 105.

“The core Inflation is predicted to fall from July's actual figure at 4.15% to 4.1%.”

Yet, as Dian continued, the stagnant condition is vulnerable to the pressure from this month's inflation to be announced early next month.

Month-on-month inflation might be lessen from 1.5% to 1.0% last month but year-on-year inflation rate will gain from 6.2% to 6.7%, he adds citing a consensus. (T05/NOM)