headline-finance
BI: DBS Can Aquire 40% of Danamon, Ask for Reciprocity for Higher Ownership
(The Insider Stories) - Singapore’s biggest lender, DBS Group Holdings Ltd. (SGX:D05) has received approval to acquire a 40% stake in PT Bank Danamon Indonesia (IDX:BDMN), and if it wishes to increase ownership above that level Indonesia requires a regulator in Singapore to provide leniency to pave the way for three Indonesian state lenders to Full Article
Rates on hold, growth slower but resilient; resource sector in focus - Weekly report | Sector data
Main story: Bank Indonesia likely to keep rates on hold; growth to slow but stay resilient Bank Indonesia kept benchmark interest rates steady this week and is likely to remain on hold until later in the year despite an imminent rise in inflation, but despite the central bank’s efforts and an improvement in the balance Full Article
Exclusive: Pertamina prices global medium term notes at US$3.25 billion | Company data
(The Insider Stories) - Indonesia’s biggest energy company, state-owned PT Pertamina, will issue US$3.25 billion from its global medium-term note programme (GMTN), slightly higher than its initial target. The order book is $14.4 billion or 5.76 times oversubscribed from the initial issuance target of $3 billion. Pertamina investment director Afdal Bahauddin says the yield on the 10-year Full Article
Sumitomo to buy up to 40% of Indonesian bank BTPN for $1.5 billion | Company data
(Insider Stories) – Japan’s Sumitomo Mitsui Financial Group Inc. (SMFG) said it has reached an agreement to acquire up to 40% of Indonesia’s PT Bank Tabungan Pensiunan Nasional (IDX:BTPN) in a deal worth an initial IDR9.2 trillion ($946 million) that could rise to over $1.5 billion. Tokyo-based Sumitomo Mitsui is buying 24.26% of BTPN from TPG Full Article
Weekly macro report: Fuel price policy clouds outlook, although there are bright spots | Sector data
(The Insider Stories) – A number of warning signals sounded this week for Indonesia’s economy, with stalled reforms and a seeming lack of willingness by the palace to take swift action on issues like fuel subsidies putting a long-awaited sovereign rating upgrade at risk, while a forecast that weak commodity prices will keep growth near Full Article
Indonesia outlook revised to stable from positive - S&P | Outlook data
(Insider Stories) – Ratings agency Standard & Poor’s Ratings Services has revised its outlook for Indonesia to stable from positive while affirming its sovereign credit ratings, as stalled reform momentum and a weaker external profile have diminished the potential for a rating upgrade by the agency in the next 12 months despite a favorable debt profile 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
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
Panin in talks to develop JV with foreign investor - Exclusive | Company data
(The Insider Stories) — Indonesian financial company PT Panin Financial Tbk (PNLF) is in final discussions to develop a joint venture (JV) company in the insurance business with a foreign investor, and is planning to sell 40% of its unit PT Panin Life to the investor. “I cannot mention our partner’s name because the discussions Full Article
Two Saratoga units eyeing 2Q IPO for business expansion | Company data
(The Insider Stories) — Indonesian private-equity magnates Edwin Soeryadjaya and Sandiaga Uno plan to list at least 15% of their PE fund PT Saratoga Investama Sedaya and a 20% stake of automotive distribution PT Mitra Pinasthika Mustika Finance on the Indonesia Stock Exchange by June, according to people close to the matter. Saratoga Investama Sedaya Full Article
Share sales of Bakrie & Brothers units to close in April | Insider company data
(The Insider Stories) — PT Bakrie & Brothers (BNBR) expects the share sales of PT Bakrie Pipe Industry and PT South East Asia Pipe Indonesia to close in April, its chief executive says, while two sources close to the deal say three investors–Japan’s Sumitomo Corp., Mitsui Co. Ltd. and Indonesian private equity fund Saratoga Capital–have Full Article
Bank Negara hopes to sell life unit for five times unit’s IDR350 billion tier one capital | Insider company data
(Insider Stories)—State-owned PT Bank Negara Indonesia (BBNI) hopes to set the sale price for its life insurance unit PT BNI Life at five times the unit’s tier one capital of 350 billion rupiah ($36 million), while more than 10 companies from the U.S., Europe, China, Japan and Korea has expressed interest in buying the life Full Article
Indonesia’s Lawmakers Approve Agus Martowardojo As the New Cbank Govt | Insider News
(The Insider Stories) - Indonesia’s finance and banking commission at the House of Representatives approved Finance Minister Agus Martowardojo to succeed the retiring central bank governor Darmin Nasution, Emir Moeis, the commission’s chairman said late on Tuesday. He said 47 lawmakers in the commission voted in favor of Agus, while seven rejected the former chief Full Article
Dyandra Media International Rises After Trading Debut Insider Company
Shares of Dyandra Media International, the exhibition and events unit of a media conglomerate Kompas Gramedia Group, increased 10 percent to Rp 385 after its trading debut at the Indonesia Stock Exchange on Monday. Dyandra said in a statement on Monday, it raised Rp 448.7 billion ($46.1 million) from selling 30 percent of its enlarged Full Article
Indonesia has Scope to Capture More India Inc. Investment in Autos, Food, Infrastructure | Insider sector data
India’s companies have yet to make serious inroads into Indonesia but Southeast Asia’s biggest economy has potential to capture more outbound M&A, as rising incomes and more skilled workers boost growth in sectors like food, manufacturing and resources while improvements to the regulatory environment slowly open up a huge potential infrastructure market, Indian government and Full Article
