Finance
Bank Muamalat to offer 30% of shares, wants capital a third higher | Company data
(Insider Stories) – Indonesian shariah bank PT Bank Muamalat expects to raise IDR2.5 trillion from a secondary public offering of up to 30% of its shares, with PT Bahana Securities and PT Danareksa Sekuritas as joint lead underwriters on the deal that it hopes will increase its capital by a third and allow it to lend Full Article
Lippo and Sentul City to invest IDR8 trillion to develop integrated CBD Sentul City | Company data
(Insider Stories) – Property development giants Lippo Group and Sentul City will develop an integrated development called CBD Sentul City in West Jakarta with total area of 250,000 square metres for a total investment of 8 trillion rupiah ($823 million), as the upmarket property sector continues to grow. The companies will build apartments, a hotel, Full Article
Weekly report: Finance minister pick has investors uneasy, while investment and inflation improve | Sector data
TIS Weekly: macro edition - Main story: Finance minister’s appointment has investors uneasy about future Investors are yet to react strongly to the surprise appointment of a political figure as acting finance minister, but may become jittery if he remains in the post for too long - Roundup: Asian investors drive surge in Indonesia FDI, Full Article
Investment manager Ashmore Group seeks growth in Indonesia - Reports | Company data
(Insider Stories) – Emerging market-focused investment manager Ashmore Group PLC is betting on growth in Indonesia’s relatively undeveloped mutual fund market, opening its second Southeast Asia office in the country to take advantage of strong growth in the region’s biggest economy. London-based Ashmore had a reported $77.7 billion under management as of March 31 and Full Article
Garuda wants to raise US$200 million from share sales | Company data
(Insider Stories) –Flag carrier PT Garuda Indonesia (GIIA) plans to release up to 10% of the company or around three billion shares this year or next year in order to raise at least US$200 million, and is planning to issue IDR2 trillion five-year rupiah bonds at the end of June with PT Mandiri Sekuritas and Full Article
Not all foreign banks required to operate as PTs: New banking bill - The Jakarta Post | Regulation data
(The Insider Stories) – Parliament may alter a clause in the Banking Bill requiring foreign banks in Indonesia to become legal business entities (PTs) in order to ringfence Indonesian capital against being pulled out of the country if the banks’ headquarters are hit by the global financial crisis, potentially expempting banks that focus on wholesale Full Article
Lion Air launches full-service carrier Batik Air - Report | Company data
(The Insider Stories) – Indonesia’s biggest low-cost carrier, Lion Air, has launched its full-service Batik Air carrier, obtaining flight permits and approval from the Transportation Ministry to serve 66 domestic routes and 20 international routes, stepping up direct competition with flag carrier Garuda Indonesia (GIAA) which it already outpaces in domestic market share. Batik Air Full Article
Multipolar becoming more aggressive in China, Indonesia | Company data
(The Insider Stories) – Lippo Group subsidiary PT Multipolar (MLPL) is strengthening its presence in China as one of the biggest markets in the world and boosting its business at home amid strong domestic growth, while extending a partnership with a Singaporean sovereign wealth fund and looking at partnering with a Japanese investor. Multipolar built 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
Fitch APAC Risk Radar | Outlook Data
(The Insider Stories) - Fitch Ratings considers most potential risks to be lower in urgency in Asia-Pacific (APAC) than in other regions. Comparatively strong growth (we project emerging Asia to have the strongest GDP growth of any global region until 2014) and the strengthening of sovereign balance sheets have increased buffers against future shocks. The Full Article
Salim Ivomas, London Sumatra plan share buybacks with CPO prices slumping
(Insider Stories) – Plantation companies PT Salim Ivomas Pratama (IDX:SIMP) and PT London Sumatera (IDX:LSIP) have announced they plan to buy back shares from Indonesia Stock Exchange and are preparing funds of around 410 billion rupiah ($42 million) from retained earnings for the deals. Weriyanti Setiawan, a spokesperson for the Indofood Group, which owns the Full Article
Triputra Group conglomerate wants triple growth in five years - The Jakarta Post | Company data
(The Insider Stories) – The Triputra Group’s founder expects the holding company’s diversified subsidiaries to triple growth, with the reach of the group’s units across many of the sectors that are growing fastest in Indonesia looking set to lead to the emergence of a new local mega-conglomerate, The Jakarta Post reports. The full report is Full Article
Indosat to delist its New York-listed ADRs by May 16 | Company data
(The Insider Stories) - Indonesian telco firm PT Indosat (ISAT) plans to delist its American Depositary Receipts on the New York Stock Exchange by May 16 to cut administrative costs against the backdrop of a rapidly expanding local bourse. Indosat said in a statement dated April 22 that the Indonesian Stock Exchange has grown significantly Full Article
Bank Mandiri’s Q1 Loans Grow 20% Y/Y Insider Company
Indonesia’s largest bank by assets, PT Bank Mandiri Tbk (BMRI), estimated its loan to have grown at around 20% in the first quarter of this year from the same period a year ago, a director at the bank said on Monday. Pahala N. Mansyuri, the lender’s chief operating officer, said the growth in the first Full Article
