Auto
Bank Internasional Indonesia auto finance arm sets IDR1.5tln bonds coupon at 7-8.5% | Company data
(Insider Stories) - Bank Internasional Indonesia Finance Center, an automotive financing arm of PT Bank Internasional Indonesia Tbk, sets the coupon rate of its Rp 1.5 trillion bonds at around 7.0 percent to 8.5 percent. Alexander, BII Finance Center’s President Director said on Monday the company plans to use proceeds of the bond sale to support expansion, Full Article
UMW M&E in automotive tie-up with Bluebird Group in Indonesia
(The Insider Stories) - UMW Holdings Bhd is making inroads into the Indonesian automotive sector via a joint venture with the Bluebird Group. UMW president and group chief executive officer Datuk Syed Hisham Syed Wazir and PT Pusaka Sukucadang president director Noni Purnomo, on behalf of Bluebird, signed the joint-venture agreement. UMW M&E Sdn Bhd, Full Article
Indonesia January-April auto sales 398,108 units - Astra International | Sector data
(Insider Stories) - Auto sales in Indonesia in the first four months of the year reached 398,108 units, 15% from a year earlier, and are in line to meet industry forecasts of full-year sales around the same level as last year’s 1.1 million vehicles, according to data released Tuesday from Indonesia’s top auto maker by sales, PT Astra Full Article
Fitch: Indonesia regulations to temper multifinance risks | Outlook data
(Insider Stories) - While profitability and asset quality are at their cyclical best at most Indonesian multifinance companies, narrowly-focused business profiles inhibit their ability to diversify funding sources beyond banks, while operating conditions can be difficult and underwriting lax, Fitch Ratings says. Nonetheless, progress in the regulatory framework and potential shareholder support for most multifinance Full Article
VW opens new outlet in Jakarta - The Jakarta Post | Company data
(The Insider Stories) - German automaker Volkswagen AG (DAX:VOW) has officially opened a new dealership in Jakarta to expand its network and improve services in Indonesia. VW Indonesia national sales manager Jonas Chendana says this is the company’s second distribution outlet with international standards in Jakarta and the fifth in the country after Bandung, Surabaya and Full Article
MPM confirms IPO prices at IDR1,500/share | Company data
(The Insider Stories) - Indonesian motorcycle dealer PT Mitra Pinasthika Mustika has set its IPO price at IDR1,500 a share and will raise US$153 million from the listing, its chief executive says, confirming The Insider Stories report published Thursday. The indicative price range was IDR1,500-IDR2,000 per share. Tossin Himawan adds that demand came from domestic, Full Article
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
Cap Asia buys 20% of toll operator, ready to invest US$100 million in Indonesia | Company data
(The Insider Stories) - Singaporean private equity fund Cap Asia acquired 20% of toll operator PT Margautama Nusantara (MUN), a subsidiary of Indonesian investment holding PT Nusantara Infrastructure (IDX:META). The sale-purchase Agreement was signed Monday between Cap Asia CEO Johan Bastin and Danni Hasan, CEO of MUN and finance director at META, with the ceremony witnessed by Full Article
Nissan to revive Datsun brand for Indonesia, India, Russia - Wires | Company data
(The Insider Stories) - Renault-Nissan will revive the Datsun automotive brand in Indonesia, India and Russia, targeting the growing middle class in the three markets. Renault-Nissan chief Carlos Ghosn is scheduled to unveil the new car and officially restart the Datsun brand this July before the car goes on sale next year, Digitaltrends.com reports. The Full Article
Indonesia president may announce blanket fuel price hike in May | Sector data
(Insider Stories) – President Susilo Bambang Yudhoyono will announce an increase in the price of subsidized fuel along with measures to mitigate the impact of the price rise after revisions to the budget are finalized with the House of Representatives, possibly this month. Yudhoyono said this week that increases in subsidized prices will be “limited Full Article
Astra proposes dividend of 45% of net profit | Company data
(The Insider Stories) – Indonesia multinational company PT Astra International Tbk is proposing a share dividend of 45% from 2012′s net profit of IDR19.4 trillion, with shareholders to vote Thursday, Astra finance director Simon Dixon tells The Insider Stories. Astra reported first-quarter net profit fell 17% from IDR4.65 trillion to IDR4.3 trillion, the first decline Full Article
Garuda signs first shariah financing deal with Kuwait’s Alafco | Company data
(Insider Stories) – Kuwait-based Aviation Lease and Finance Company (Alafco) signed a sale and lease-back agreement with PT Garuda Indonesia (IDX:GIAA) worth US$630 million to finance two Boeing 777-300 Extended Range (ER) aircraft worth US$630 for delivery in June and July. The agreement, the publicly listed flag carrier’s first ever financing deal based on shariah Full Article
Investment in Indonesia rises 40% on year in Q1 | Sector data
(Insider Stories) – Foreign direct investment in Indonesia grew 27.2% year-on-year to Rp 65.5 trillion ($6.8 billion) in the first quarter of this year, led by Japanese investment in the automotive sector, the head of Investment Coordinating Agency (BKPM) said on Monday. BKPM said Japanese investors contributed the most capital, pouring $1.2 billion into Indonesia, followed Full Article
Toyota Astra auto and financing units optimistic on sales | Sector data
(The Insider Stories) – Companies owned by automotive giant Astra International (ASII) are optimistic that domestic car sales and auto financing will remain strong despite a weak global economy and a plan by Indonesia’s government to increase fuel prices in May. National car sales likely steady at 1.1 million PT Toyota Astra Motor, a Full Article
Pirelli and Astra Otopart to set up 4-wheeler factory - Exclusive | Company data
(The Insider Stories) – Italy’s Pirelli & Co SpA (PC) is in intensive discussions with leading Indonesian automotive components maker PT Astra Otopart Tbk (AUTO) to build a four-wheeler factory in Karawang International Industry City, with development expected to start in 2014. Astra Otopart’s President Director Siswanto Prawiroatmodjo said total investment could be higher than Full Article
