Credit rating: 2011 corporate bond issuance up to IDR40 trio

BI/bourse

20/12/2010

Irvin Avriano A.

Bisnis Indonesia

Credit rating: 2011 corporate bond issuance up to IDR40 trio

JAKARTA: The rating agencies predict corporate bond issuance next year will exceed this year issuance that pegged around IDR40 trillion, higher from the expectations of the underwriter that projected around IDR30 trio next year.

PT Fitch Ratings Indonesia President Director Baraditta Katoppo says the projection is supported by the possibility of companies in the country will continue to expand, even with the bigger requirement of funds than which happen this year.

"The companies need high working capital, and bonds issuance could be alternative for them than to bank loans," he told the press earlier this week. Previously, some underwriter predict the bond issuance next year will still be at the level of IDR30 trio next year.

He said the issuance of corporate bonds will be crowded during the 2011 1st half, which anticipating rising interest rates by Bank Indonesia (BI), that predicted to be conducted in 2011 2nd semester.

Bintang Semestaraya sell stake in Ristia Mahkotasejati

BI / exchange

21/12/2010
Irvin Avriano A.
Bisnis Indonesia

Bintang Semestaraya sell stake in Ristia Mahkotasejati

JAKARTA: PT Bintang Mitra Semestaraya Tbk, a property and real estate listed company, sold its stake in PT Ristia Bintang Mahkotasejati Tbk worth IDR1.37 billion.

Its revealed on BMSR coded issuer disclosure to the Indonesia Stock Exchange (IDX/Bursa Efek Indonesia). It also announced the company sold as many as 16.33 million shares of its subsidiary at IDR84 price level.

Trimegah divided its investment management division

BI/bursa

21/12/2010

Irvin Avriano A.

Bisnis Indonesia

Trimegah its investment management division

JAKARTA: PT Trimegah Securities Tbk, a listed securities company, divided their investment management division into a new company, PT Trimegah Asset Management.

The company targeted their asset under management to IDR5.2 trillion--5.5 trio for Trimegah Asset Management next year.

Trimegah Securities President Director Omar S. Anwar said the projection assumes from this year end target to IDR2.6 trillion.

Perumnas issued another MTN IDR30 bio

BI/bursa
21/12/2010
Irvin Avriano A.
Bisnis Indonesia


Perumnas issued another MTN IDR30 bio

JAKARTA: Perum Perumnas issued another medium term notes (MTN) III/2010/C worth IDR30 billion what will matured until March 2012.

From Indonesia Sentral Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) information disclosure showed in their website today, the housing developer self owned enterprises (SOE) will paid off the MTN coupon every three months.

Bakrie & Brothers issue equity linked notes US$109 mio

BI/bursa

21/12/2010

Irvin Avriano A.

Bisnis Indonesia

Bakrie & Brothers issue equity linked notes US$109 mio

JAKARTA: PT Bakrie & Brothers Tbk issued an equity linked notes worth US$109 million to Eurofa Capital Investment Inc tenured 5 years. The amount equals to IDR985,36 billion, assumed to currency IDR9,040 per US dollars.

Bakrie & Brothers Director & Corporate Secretary Sri Dhamayanti said the issuance has been done last December 16th.

Fajar Wisesa revenue IDR4.3 trio next year

BI/bursa

21/12/2010
Irvin Avriano A.
Bisnis Indonesia

Fajar Wisesa revenue IDR4.3 trio next year

JAKARTA: PT Fajar Surya Wisesa Tbk, a listed packaging paper company, projected their revenue to IDR4.3 trillion next year.

Fajar Wisesa Director Hadi R. Ongkowidjojo said the increased prediction is up to 35.51% above this year estimated number, IDR3.17 trio.

The so-called-target are came from the upgraded paper production capacity that will be increased to 1 million metric ton next year from previously only 715,000 metric ton per year.

Indofood buyback IDR36 bio IV/2007 bond

BI/bursa

21/12/2010
Irvin Avriano A.
Bisnis Indonesia

Indofood buyback IDR36 bio IV/2007 bond

JAKARTA: PT Indofood Sukses Makmur Tbk buyback IDR36 billion IV/2007 bond partly from the previous amount of IDR2 trillion.

Indofood Director & Corporate Secretary Werianty Setiawan in the company's disclosure to PT Bursa Efek Indonesia today said the buyback made the existing bond reduce to IDR1.96 trillion.

"All bonds we bought back are treated as a debt settlement," said her in the information disclosure submitted to the Indonesia Stock Exchange (IDX) today. The bonds itself will mature in 2012.

SMF will issue max IDR1.2 trio bond

BI/bursa

20/12/2010
Irvin Avriano A.
Bisnis Indonesia

SMF will issue max IDR1.2 trio bond

JAKARTA: PT Sarana Multigriya Finansial (SMF) will issue maximum IDR1.2 trillion bond, divided into conventional bond and medium term notes (MTN).

SMF Corporate Secretary Sony Wisaksono Nugroho said they already appoint PT Danareksa Sekuritas as their IV/2011 bond issuance plan, amounted to IDR500 billion-800 billion. The MTN that will mature only in 360 days is amounted to IDR200 billion--400 billion.

Pan Brothers reduce rights issue funding

20/12/2010

Irvin Avriano A.

Pan Brothers reduce rights issue funding

JAKARTA: PT Pan Brothers Tbk, a publicly listed garment company, set their rights issue price at IDR1,350, that will reduce their targeted fund from previously maximum IDR701.57 billion to only IDR601.34 billion.

On their rights issue published today on Bisnis Indonesia daily newspaper, the company reduce the utilization of rights issue's fund for its working capital and expansion, also for its subsidiary from previous plan IDR341.1 billion to only IDR.240.47 billion.

In contrast, the company increase their funding plan to acquire 51% stake on PT Hollit International, a garment trading house, from previous plan IDR41.39 billion to IDR41.79 billion.