Finance

(The Insider Stories) — State-owned brokerage firm Danareksa on Tuesday said it has appointed Heru Adhiningrat as its president director replacing Edgar Ekaputra. Born in 1960, Adhiningrat holds a masters degree in finance from California State University, United States. He was the managing director of Danareksa Sekuritas from 1996 to 2001, then president director of Full Article

(The Insider Stories) — Indonesian stock market may rise by up to 17% this year, the biggest increase in three years, as a jump in minimum wage, low interest rate, and increasing members of the middle class spur domestic demand, Bloomberg reported Monday. “Domestic-oriented stocks will be the biggest contributor to the index,” Alvin Pattisahusiwa, Full Article

(The Insider Stories) — Indonesia’s rupiah bonds maturing in 2015 gain on Tuesday as investors shift their holdings to short term papers after disappointing inflation data, Bloomberg reported. The yield of the two-year notes fell eight basis points to 4.35% in the early trading session, Bloomberg cites data from the Inter Dealer Market Association, marking Full Article

(The Insider Stories) — BNI Asset Management, a subsidiary of the country’s fourth biggest bank by assets, plans to issue up to 10 new mutual funds this year, Kontan daily reported Tuesday. Investment Director Abdullah Umar Baswedan said the rupiah-denominated mutual funds would mostly be protected funds, followed by money-market funds and fixed-income funds, and Full Article

(The Insider Stories) - Those investing in equity funds might have been cheerful at increased returns, some even higher than the benchmark composite index, which surged by two digits in the first quarter. The Jakarta Composite Index (JCI) closed at an all-time high of 4,940.99 on March 28, 14.5 percent up in the year to Full Article

(The Insider Stories) — Last year was an unfortunate time for coal miners as declining price was reflected in plunging profits, prompting moves to cut cost this year. A number of listed coal miners have tried to increase production and sales volume, but revenue grew slower as the increase in production and sales volume failed Full Article

(Insider Stories)-Indonesia’s largest micro-loan provider, PT Bank Rakyat Indonesia (BBRI), has attracted strong demand for a US$500 five-year senior unsecured bonds, pricing the debt to yield 3.125%, below guidance of 3.375%. The bonds carry 2.950% percent coupon rate. Bids by investors were 5.3 times oversubscribed from 165 accounts. The proceeds from the bond sale will Full Article

(The Insider Stories) — State-owned cement producer PT Semen Baturaja plans to list 35% or around 2 billion shares through an IPO in June, a company executive says. The company expect to earn over IDR1 trillion ($100 million) from the IPO. “We need funds to increase our capacity production from 1.25 million tons to Full Article

(Insider Stories)-State-owned airline operator PT Garuda Indonesia (GIIA) expects solid growth to continue this year after strong gains in passenger numbers and revenue last year, and is preparing bond and share issues to support a planned up-to-$400 million capex budget. Garuda targets an increase in its fleet to 139 aircraft from 106 last year, with Full Article

(The Insider News) - Indonesia listed lender PT Bank Internasional Indonesia (BNII) is planning to offer new shares worth Rp 1.5 trillion (US$154 million) through a preemptive rights issuance. According to a statement made public on Wednesday, the company will offload 4.69 billion new shares, which will account for 7.69 percent of its enlarged capital, Full Article

(The Insider Stories) — Fitch Ratings has assigned TBG Global Pte Ltd.’s proposed USD guaranteed notes an expected ‘BB(EXP)’ rating. The final rating of the proposed notes is contingent upon the receipt of documents conforming to information already received. TBG Global Pte Ltd is a finance subsidiary of Indonesia-based telecommunications tower operator PT Tower Bersama Full Article