Inovisi will issue new shares worth IDR580.5 bio

BI / exchange

14/11/2010

Irvin Avriano A.

Bisnis Indonesia

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.

Bisnis Indonesia

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.

Bisnis Indonesia

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.

Bisnis Indonesia

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.

Bisnis Indonesia

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.