JAKARTA (TheInsiderStories) – Good morning; here we provide several pieces of important news that might help your business decisions today:

Mayapada Bank targets Rp1 Trillion from Rights Issue

PT Bank Mayapada International Tbk (IDX: MAYA) in the near future will conduct a rights issue action, targeting Rp 1 trillion with 546.5 million new shares to be issued. In the public expose to the Indonesia Stock Exchange (IDX) on Monday Imron Hamzah, Head of Corporate Valuation Division 2 IDX said the theoretical price of MAYA’s rights issue should be Rp 2,829.WIKA Gedung Obtains Rp17.3 trillion Contract 

PT Wijaya Karya Gedung Building, unit of PT Wijaya Karya Tbk (IDX: WIKA) won a property development contract from WIKA Group worth more than Rp20 trillion. Wijaya Karya Finance Director, Steve Kosasih, said most of the contract Rp17.3 trillion, was obtained from construction contracts of property development projects between PT Wijaya Karya Realty and WIKA Gedung. He added that the Rp 3 trillion contract derived from strategic cooperation of residential development and commercial area with the concept of “Transit Oriented Development” (TOD) integrated with railway station worked by WIKA Group, among others TOD Kawasan Laswi, Bandung and TOD Station Senen, both owned by PT Kereta Api Indonesia.

Mayapada Bank targets Rp1 Trillion from Rights Issue

PT Bank Mayapada International Tbk (IDX: MAYA) in the near future will conduct a rights issue action, targeting Rp 1 trillion with 546.5 million new shares to be issued. In the public expose to the Indonesia Stock Exchange (IDX) on Monday Imron Hamzah, Head of Corporate Valuation Division 2 IDX said the theoretical price of MAYA’s rights issue should be Rp 2,829.

 

Ciputra Posts Rp5.25 Trillion Sales in September

PT Ciputra Development Tbk, (IDX: CTRA), posted marketing sales of Rp 5.25 trillion as of September 2017, up from Rp 3.85 trillion the previous month. Harun Hajadi, Director of CTRA, said that this sales contribution is still dominated by existing projects. And, until September 2017, CitraLand Surabaya contributed the most to total marketing sales of CTRA. Quoting financial statements, in the remainder of hte year, CTRA still has several investment property projects that will compose CTRA’s rental income. One of these projects is targeted to be completed in the fourth quarter of 2017, namely, Ciputra World 2 Jakarta. As of June 2017, the process of Ciputra World 2 Jakarta has reached 83 percent.

Indonesia Retail Sales Grow 2.2 percent in August

Retail sales in August 2017 grew, reflected by the real retail sales index (IPR) of August 2017, which rose by 2.2 percent (YoY), after the previous month’s figure contracted by 3.3 percent (YoY). The increase in sales mainly occurred in the food group, which grew by 7.9 percent (YoY), up from -0.3 percent (YoY) in July 2017. Meanwhile, non-food group sales showed improvement, although it was still limited. Regionally, the largest annual growth of IPR occurred in Semarang. Bank Indonesia expects retail sales growth in September 2017. This is indicated by the IPR September 2017, when it grew 2.4 percent (YoY). The increase in retail sales was bolstered by food groups that are predicted to grow relatively stably, along with improvement in retail sales in non-food groups while still negative.

Garuda Retires Boeing 747-400

Indonesia’s flagship airline, PT Garuda Indonesia (Persero) Tbk.(IDX:GIAA) has officially withdrawn three Boeing 747-400 aircraft that have been operating for almost 23 years from service. Garuda CEO Pahala Mansury explained the decision was based on the fact that fuel consumption is more wasteful than currently-owned aircraft, such as the Boeing 777-300 ER. He mentioned that the aircraft will likely be sold to another country and the company will thus receive additional revenue from the sale.

Government Extends Freeport License to Smooth Negotiation

The government said it would extend the status of the Special Mining Business License (IUPK) of PT Freeport Indonesia for the next three months from Tuesday tomorrow (10/10) to January 2018. Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan said, in line with this decision, the export permit will also be extended for three months. The move was made by the government to complete the continuation of the Freeport share divestment process, 51 percent passing to the government.

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