4 securities potentially to become Telkom bond underwriter

as published in Bisnis Indonesia daily newspaper

Tuesday, 08/12/2009 00:00 WIB

4 securities potentially to become Telkom bond underwriter

JAKARTA: PT Telekomunikasi Indonesia (Telkom) Tbk nominated four securities potentially to become bond issuance underwriter wit maximum value of IDR5 trillion next year.

The four firms here include PT Danareksa Sekuritas, PT Mandiri Sekuritas, PT Bahana Securities, and PT Trimegah Securities Tbk.

An informed executive said the company has shortlisted the securities nominated as underwriter.

"The name has been defined but only shortlisted. It might possibly be left out," he said to Bisnis last week.

Other resource said the appointed securities company here was invited again by the bond emitter Tuesday and Wednesday last week to get further briefing from the company.

"The securities commonly proposed IDR3-5 trillion. We were called to give commitment on the number of bonds distributable to our investors candidates and each securities propose different amount."

Finance Director of Telkom Sudiro Asno was not available for comment yesterday.

Formerly Asno said Telkom readied to pay the matured debt this year worth IDR5 trillion as from the outstanding IDR25 trillion debts from internal cash.

The company begins to open talk on merger and acquisition with some middle class cellular operators to speed up the business.

The corporate outstanding debt per September 2009 stood at IDr23 trillion and might turn into IDR25 trillion by end of the year. One fifth of them is bank loan which will have prompt maturity.

On yesterday closing, the corporate stock price was on the level of IDR9,300 or 50 points or 0.54 percent uprising from prior position.

The price has led to Telkom capitalization worth at IDR187.74 trillion.

Telkom has just called off the acquisition of 80 percent Indonesianpower due to the absence of deal with the seller, PT Solusindo Kreasi Pratama.

Corporate Secretary of Telkom Agus Murdiyanto in official statement last week said the requirement in the conditional agreement for the sell and purchase activity here was unfulfilled with the absence of deal from Telkom and shareholders of Solusindo Kreasi Pratama.

Telkom plans to acquire base transceiver station (BTS) company provider through its subsidiary firm, PT Dayamitra Telekomunikasi (Mitratel).

As to Agus, the cancelled acquisition scheme does not hamper Mitratel performance in telecommunication tower business performance. (Bisnis/21)