JAKARTA (TheInsiderStories) – Followings are some news that could affect trading on the stock market today, which are compiled by our team and Mandiri Sekuritas :
- PT Pelabuhan Indonesia IV (PELINDO IV) and Johor Port Bhd, a member of the MMC Group, has signed a Memorandum of Understanding on several collaboration including a sister port partnership program. Besides this, the MoU would also pave to the way for Johor Port to share its experience and expertise with PELINDO IV in the areas of port training services, consultation on container and conventional operations and collaboration on inter-port logistics services.
- PT Hutama Karya plans a 5.5 trillion rupiah ($412 million) bond issue in April, aiming to tap into funds being repatriated under the country’s tax amnesty program, the finance ministry said on Monday. The government will guarantee the bonds and the finance ministry said investors buying them would help support government efforts to accelerate infrastructure development in Indonesia. Hutama Karya has met with bankers, fund managers and traders to promote investment in the bonds, the ministry said in a statement. The company is building a toll road connecting major cities on the Indonesian island of Sumatra, in a project worth 82 trillion rupiah. The tax amnesty, which started last July and runs until March, aims to provide the government with billions of dollars in revenue to help cover a large fiscal deficit. Participants, including some of Indonesia’s wealthiest citizens, have pledged to transfer back home 141 trillion rupiah of funds they previously kept offshore, according to data from the finance ministry.
- Indonesia Stock Exchange considers the movement of PT Medco Energi International Tbk (MEDC, Rp2.680) shares in the category of unusual (outside the box/UMA) today. The stock exchange authorities urge investors to pay attention to information disclosure. The bourse also extends the temporary suspension on shares trading of PT Permata Sakti Prima Tbk (TKGA, Rp1800). Termination is done in the regular market and cash market.The discontinuation was done as TKGA is yet to pay the cost of annual listing fee 2017.
- Domestic jewelry industry is predicted to grow 7.8% in 2016-2021. Euromonitor International study revealed that from 2015 to the jewelry industry in 2016 grew 13%, valued at Rp21 trillion. This year, industrial growth is believed to be increasing, sustained market demand shows an upward trend.
- Indonesian Consumers Foundation (YLKI) critics import policy for the sake of consumers. YLKI asked the government to actually protect the interests of consumers in the country from the invasion of imported goods that are not meeting the required standard and quality.
- Bankers predicts that banks’ NIM (net interest margin) in 2017 would fall slightly. In contrast, the Deposit Insurance Agency (LPS) is still optimistic, net interest margin (NIM) can grow positive this year, but some bankers predict that NIM performance would drop. The reason is that the projected credit interest is fixed, while the deposit rate declines.
- In order to develop an office building and apartment, PT Astra International Tbk (ASII, Rp7.975, NEUTRAL, TP Rp8.200) prepares Rp8 trillion funds. ASII is building Astra Tower and Apartment Anandamaya Residence with a total cost of Rp 8 trillion. Astra tower is owned 100% by ASII with an investment of Rp4.5 trillion, while Anandamaya Apartment Residence siphon investment funds of Rp3.5 trillion. Anandamaya Residence was built through a joint venture between PT Astra International and Hong Kong Land. The two parties formed a joint venture called PT Brahmayasa Ark, in which Astra International and Hong Kong Land hold 60% and 40% respectively.
- Bank Windu has been renamed PT Bank China Construction Bank (CCB) Indonesia Tbk (Amcor, Rp294), following of the merger of PT Bank Windu Kentjana International Tbk and PT Bank Antardaerah. Today, China Construction Bank Corporation is now the controlling shareholder of Bank Windu. CCB will change its target market to corporate sector, especially infrastructure.
- China Construction Bank Indonesia PT Tbk is targeting loan growth this year to rise by 70% compared with last year. Director of China Construction Bank Indonesia (CCBI) Luianto Sudarmana said, the total loan portfolio over the past year has reached Rp8,2 trillion. With a target of 70% share, this year the company could provide lending to around Rp15 trillion.
- PT Bakrie Sumatera Plantation (UNSP, Rp51) EGM has approved a reverse stock move. Under the reverse stock split, every 10 shares with value of Rp100, will be converted into one share with a value of 1,000.
- Profit of Bank Pan Indonesia (Panin) Dubai Shariah 2016 dropped 64%. Dubai Islamic Bank Panin financing grew by 10.93% YoY to Rp6,34 trillion last year. The 2016 financial report also shows, third-party funds (DPK) grew 16.4% yoy to Rp 6.89 trillion. So that profit before tax reserve amounted to Rp 102 billion per end of 2016. Meanwhile, pre-tax profit reached Rp 28 billion in 2016, down 64% compared to 2015, which amounted to Rp 75 billion.
- PT Bank UOB Indonesia has set aside funds for interest payments on the 11th of its Subordinated Bonds I Bank UOB Indonesia Year 2014. The bank said in a disclosure to the Indonesia Stock Exchange on Monday (2/20/2017), the company said it would provide funds of Rp28.375 for interest payments on subordinated bonds I Bank UOB Indonesia 2014. {*)