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Indonesia ETFs Leading Equities Market
The SeekingAlpha blog notes that Indonesia stocks and exchange traded funds have been leading the equities market due to sustainable economic growth and an improved earnings outlook for local companies. The Market Vectors Indonesia ETF was one of the best performing ETFs in February, gaining 9.1% in the past month, it notes. Full post: http://seekingalpha.com/article/1249731-why-indonesia-etfs-are-on-a-tearFull Article
Bumi & Bumi Minerals, what is next?
Indonesia’s largest coal exporter PT Bumi Resources Tbk (BUMI) aims to dispose up to 20% stake in non-coal mining company PT Bumi Resources Minerals Tbk (BRMS) to strategic investors. The shares sale will be used by Bumi to put down its debt, particularly to its largest lender China Investment Corporation (CIC) and other creditors. Bumi Full Article
Berau Coal & 3.40 bio shares issuance
PT Berau Coal Energy Tbk (BRAU) is seeking an approval from its shareholders regarding to a transfer authority to board of commissioner for 3.40 billion of new shares issuance or nearly 10% of outstanding shares. Such matter will be discussed during an extraordinary general meeting (EGM) with two other agendas, said Berau’s management in a Full Article
Dian Swastatika acquires Andalan Lestari
PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeover of PT Andalan Satria Lestari worth Rp8.70 billion. Hermawan Tarjono, Director of Dian Swastatika, said the acquisition is held by DSSA’s unit dubbed PT Bumi Kencana Eka Sejahtera. Bumi Kencana bought 87,000 shares issued by Andalan Lestari Full Article
Vale Indonesia names Richardo as president commissioner
One of nickel miners PT Vale Indonesia Tbk (INCO) on Friday has appointed Ricardo Rodrigues de Carvalho as the president commissioner of the company, replacing Peter Poppinga, while Poppinga remains as a member of the board of commissioner of the company. The shareholders of the Company also accepted the resignation of Tito B. Martins as Full Article
Ibrahim Risjad passes away
One of Indonesian tycoon Ibrahim Risjad, father of businessman Rizal Risjad, has passed away on February 2012 in Singapore due to illness at the age of 77. Ibrahim Risjad, stellar businessman during President Soeharto era,is a non-executive director of First Pacific Company Limited, a holding company of Indofood Group that is controlled by Anthony Salim. Full Article
Indika Energy acquires Multi Tambangjaya US$132 million
PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agreements to acquire, together with a co-venturer, 100% stake of PT Multi Tambangjaya Utama (MTU) as well as its coal distribution rights for a combined indicative purchase price of approximately US$132 million. Indika bought the assets, excluding the MTU’s Full Article
Samin Tan completes Bumi Plc takeover
Indonesian businessman Samin Tan who owns PT Borneo Lumbung Energi & Metal Tbk (BORN) today has completed a 23.8% takeover of Bumi Plc worth US$1 billion from Bakrie Group. “Yes, tomorrow , there will be signing ceremony,” said Samin Tan to Insider Stories today.Full Article
Samin Tan buys 23.8% stake in Bumi Plc
Stellar figure Samin Tan, who is known as one of closest buddies for Nirwan D. Bakrie, may soon take part as a 23.8% stake holder in London-based Bumi Plc. Samin Tan, former auditor of Deloitte & Touche, through its coking coal miner PT Borneo Lumbung Energi Tbk (BORN), is scheduled to announce a shares swap Full Article
Borneo Lumbung Energi’s owners move
Two shareholders in Indonesia cooking coal producer PT Borneo Lumbung Energy Tbk (BORN) intends to dispose 12.5% stake next year. Credit Suisse who is holding a 10% stake with Suryadinata Sumatri of 30% stake will sell their shares. One of steel company from China who has business base in China and Mongolia has shown their Full Article