Finance
Krakatau continues with $1.2b expansion despite poor report - The Jakarta Post | Company data
(The Insider Stories) — State-owned PT Krakatau Steel (KKTS), Southeast Asia’s biggest integrated steelmaker, is planning to forge ahead with $1.2 billion (IDR11.6 trillion) investment in ongoing projects this year, despite a weak steel price that prevented the company achieving higher profits despite a 12.5% increase in sales volume last year, The Jakarta Post reports. Full Article
Tycoon Eric Thohir sees synergy between media, telecoms - The Jakarta Post | Company data
(The Insider Stories) – Media tycoon Eric Thohir says synergy is achievable between his PT Mahaka Media (ABBA) company and mobile phone operator PT Hutchison 3 Indonesia, known as Tri, after a consortium of the Trinugraha Thohir Group run by Eric’s brother brother Garibaldi “Boy” Thohir and private-equity player Patrick Waluyo’s PT Northstar Pacific bought Full Article
Nike eyeing expansion in Indonesia as satisfied with contractors - Industry minister | Company data
Indonesia’s industry minister says Nike Inc. (NKE) is considering raising its investment in Indonesia as the sporting goods maker, one of world’s biggest, seeks to make the country a production base as it considers partnerships with local contractors successful, while the apparent plan to increase investment could assist with wage issues that the company has faced Full Article
Danamon CEO Henry Ho: DBS deal good for banking industry | Sector data
(The Insider Stories) – Singapore’s DBS Group Holdings (DBSM) gained approval from Bank Indonesia (BI) last week to buy a majority holding in PT Bank Danamon (BDNM), paving the way for DBS to potentially buy up to 99% in Indonesia’s sixth-biggest lender by assets in a deal that at up to $7.2 billion could become the Full Article
Sampoerna to inaugurate a new handrolled cigarette plant in Jember, East Java - Press release | Company data
(Insider Stories) — PT HM Sampoerna Tbk. today announced its plans to inaugurate a hand-rolled kretek cigarette manufacturing facility in Jember, East Java. The factory is expected to absorb a workforce of approximately 4,500 people, a strong catalyst for economic development in the Jember area. Surabaya, 18 April 2013 – Sampoerna (IDX: HMSP) made the Full Article
Investors race to buy Bukopin shares - Exclusive | Company data
(The Insider Stories) – Three investors are racingto buy up to 41.4% shares of commercial bank PT Bank Bukopin (BBKP) from state-run labor groups Koperasi Pegawai Bulog Seluruh Indonesia (Kopelindo) and Yayasan Bina Sejahtera Warga Bulog (Yanatera). According to sources, PT Bank Rakyat Indonesia (BBRI), Bosowa Corp. and Indonesian private-equity firm Saratoga Capital are competing Full Article
CIMB Islamic views Indonesia as prime market - The Jakarta Post | Company data
(The Insider Stories) – Indonesia has the world’s biggest potential for shariah banking due to its large Islamic population, according to CIMB Niaga, which has more than $900 million in shariah assets in Indonesia and is growing strongly in the country, The Jakarta Post reports. The full text of the story is below: CIMB Full Article
Tower Bersama Infrastructure eager for organic and inorganic expansion | Company data
(The Insider Stories) – Telecommunications infrastructure provider PT Tower Bersama Infrastructure (TBIG) is targeting an increase in tenant occupancy from 13, 708 to 17,058 subscribers in 2013, or 24.44% growth. Tower Bersama President Director Herman Setyabudi says in a press conference he is optimistic the tower business in Indonesia is still attractive, with several investors 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
Indonesian auto financing firms gearing up despite rough ride for economy | Sector data
(The Insider Stories) – Indonesian automotive financing firms – known locally as multifinance companies – expect to ride out tough macroeconomic conditions and continue competing for a share of a redhot auto financing market despite the possibility the government will raise fuel prices by more than half, adding to inflationary pressure and a rupiah that has Full Article
Garuda Indonesia wants Erik Meijer aboard as it navigates new skies | Executive data
(The Insider Stories) — Flag carrier Garuda Indonesia (GIAA) is keen to boost its executive team by adding Netherlands telecommunications executive Erik Meijer to its board of directors in order to better cope with increasing competition. State Enterprises minister Dahlan Iskan gave few details when announcing Meijer’s candidacy but said that Garuda needs to be better Full Article
Manchester City latest football team to tap Indonesian market, in deal with Extra Joss energy drink
(The Insider Stories) — Barclays Premier League team Manchester City FC says it has signed a domestic advertising deal with Kalbe Farma (KLBF) unit PT Bintang Toedjoe as football teams seek to tap keen local interest in the game and growing domestic consumption. Midfielders David Silva and Yaya Toure along with forward Sergio Aguerro will Full Article
Boston bombings add to concerns in markets - The Associated Press | Outlook data
(The Insider Stories) - The sense of caution in financial markets continued Tuesday after deadly bombings at the finish line in the Boston Marathon, according to a report by The Associated Press in the Jakarta Post. Investors have been spooked over recent trading sessions by the declines recorded in commodity prices — not just gold Full Article
Lippo Groups’s Nobu National Bank eyeing IPO to meet capital requirements | Company data
(Insider Stories)-The Lippo Group conglomerate’s boutique lender, PT Nobu National Bank, has set an indicative range of 325-400 rupiah a share for its planned May listing of 2.155 billion shares or 52% of enlarged capital, according to Ferry Tanja, the President Director of IPO underwriter PT Ciptadana Securities. A new minimum capital requirement issued by Full Article
EXCLUSIVE: DBS gets regulatory approval to buy 40% stake in Bank Danamon | Company data
(The Insider Stories) – The Indonesian central bank has given the nod for DBS Group Holdings Ltd.’s (D05) planned multibillion dollar acquisition of Bank Danamon (BDMN), with the processing of the legal documents for the deal likely to be completed in May, sources with direct knowledge of the matter said Friday. Singapore’s DBS is the Full Article
