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Motorcycle dealer MPM sets IPO price at IDR1,500 per share | Company data
(Insider News) – Indonesian motorcycle dealer PT Mitra Pinasthika Mustika has set its IPO price at 1,500 rupiah per share to raise an expected US$153 million. The price is at the bottom end of its indicative range of IDR1,500-IDR2,000 a share. MPM expects to sell 1.02 billion shares and will list on May 29. Deutsche Bank Full Article
Killara Resources acquires 80% of coal producer Borneo Emas Hitam | Company data
(Insider Stories) – Australia’s Killara Resources (ASX:KRA) has acquired 80% equity interest in Indonesian coal producer PT Borneo Emas Hitam, located in East Kalimantan province, from major shareholder the Zulkarnaen family. Killara will pay, pending due diligence, a minimum of US$2.2 million, a statement says. This transaction underscores the board’s strategy of establishing an Indonesian Full Article
Sumatra Copper & Gold seeks to raise $20 mln from rights issue | Company data
(Insider Stories) – Indonesia’s Sumatra Copper & Gold plc (ASX: SUM) is seeking to raise $20 million through a rights issue as a key financial plank of development of the Tembang Gold-Silver Project in Sumatra. The rights issue is two new CDIs for every five CDIs and will involve the issue of up to 117.8 Full Article
Moody’s affirms Adaro’s ratings at Ba1; outlook stable | Press release
Moody’s affirms Adaro’s ratings at Ba1; outlook stable Singapore, May 08, 2013 - Moody’s Investors Service has affirmed the corporate family and senior unsecured bond rating of PT Adaro Indonesia (Adaro) at Ba1. The outlook of the ratings is stable. RATINGS RATIONALE “The affirmation reflects Adaro’s strong liquidity position, track record of prudent financial management, and our Full Article
Indonesia releases first Extractive Industries Transparency Initiative report | Regulation data
(Insider Stories) - Indonesia has taken a significant step forward in introducing transparency into governance of its extractive resources industry, a sector that is the economy’s mainstay and provides a third of the national budget but where a lack of transparency has led to corruption and conflict, with the Coordinating Ministry for Economic Affairs releasing Full Article
Moody’s: Adaro’s ratings at Ba1; outlook stable | Outlook Data
RATINGS RATIONALE “The affirmation reflects Adaro’s strong liquidity position, track record of prudent financial management, and our expectation that the company will focus on deleveraging such that its adjusted debt to EBITDA ratio will return to below 2-2.3x by end 2014,” says Simon Wong, a Moody’s Vice President and Senior Analyst. “Its rating headroom, however, Full Article
State enterprises ministry plans to set up Islamic bank - official
(Insider News) – The state enterprises ministry plans to develop an Islamic bank as early as next year, to supply huge potential demand for shariah financing. Deputy state enterprises minister Gatot Trihargo told a discussion forum in Jakarta that one option is to consolidate the shariah units of state-owned lenders PT Bank Mandiri (IDX:BMRI), PT Full Article
Moody’s: China property outlook stable, sales growth to slow | Outlook data
(Insider Stories) - Moody’s Investors Service says the outlook for China’s property market remains stable despite a likely slowdown in sales growth to around 10% on year in the next 12 months, in line with 2012 but down from highs in the first quarter of the year. ”Our view is that urbanization and favorable mortgage financing for Full Article
Moody’s: China’s Aa3 rating supported by controlled growth slowdown | Outlook data
(Insider Stories) - Moody’s Investors Service says its Aa3 sovereign rating on China’s local- and foreign-currency debt, the agency’s fourth-highest investment grade ranking, remains supported by relatively high economic strength and very high government fiscal strength, which are not jeopardized by “the country’s new era of slower growth.” The rating rational “anticipates that the government Full Article
Cargill breaks ground on $100 mln Indonesia cocoa plant | Company data
(Insider Stories) – Cargill Inc. has broken ground on a state-of-the-art cocoa processing facility in Gresik, East Java province, with the company reportedly prepared to invest $100 million in the project. Cargill’s first cocoa processing facility in Asia, the plant will “meet the growing demand among customers for cocoa products and to encourage the development Full Article
Investors rediscover their appetite for EM equities - Capital Economics | Outlook data
Investors have rediscovered their appetite for emerging market equities in the past few weeks, possibly reflecting diminished fears that the U.S. Federal Reserve will scale back its quantitative easing, but EM equities remain vulnerable to a likely slowdown in asset purchases by the Fed later in the year, London-based research provider Capital Economics says in Full Article
Indonesia could reverse coal export ban - Nomura | Sector data
(Insider Stories) - Indonesia could reverse its coal export ban and delay implementation of a coal export tax in order to avoid impacting smaller coal miners, Nomura says. Nomura coal analyst Isnaputra Iskandar says legal and technical and economic issues mean the government likely won’t implement a coal export ban or export tax in the next Full Article
Indonesia offers 10 infrastructure projects worth US$10 Billion | Sector data
(Insider Stories) – Indonesia’s government plans to offer 10 infrastructure projects across Indonesia starting this year with an estimated value of $10 billion, the majority of which are in preparation and expected to be completed this year. Bastary Pandji Indra, public private partnership development director at the Ministry of National Development Planning, said on the Full Article
Australia likely to cut rates again by end of 3rd quarter - Capital Economics | Outlook data
(Insider Stories) – The Reserve Bank of Australia is likely to cut interest rates again before the end of the third quarter of the year, following a 25 basis point reduction of the cash rate to a record low 2.75% Tuesday as the central bank seeks to boost the economy ahead of a possible slowdown in the Full Article
S&P Downgrades Bakrie Telecom To ‘CCC’; Outlook Negative | Press release
The following is a press release from Standard & Poor’s: - BTEL has not disclosed its plans to bridge a funding gap of about US$100 million over the next 12 months. - The Indonesia-based limited mobility wireless operator will therefore continue to face significant liquidity pressure. - We are Full Article
