Daily Business Briefs – Nov 23

Campina to launch IPO (Image credit : Campina)

JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:

Jasa Marga to Build Two More Tollroads Next Year

PT Jasa Marga Tbk (IDX:JSMR), a state-controlled toll road operator, will develop two more toll road sections next year after winning government bid, namely Probolinggo-Banyuwangi in East Java and Jakarta- South Cikampek II in West Java. The Head of Tender Committee for Toll Road at the Ministry for Public Works and Public Housing Eka Pria Anad said the signing agreement to develop the toll roads will be held next month. The company will develop the 170.36 kilometers of the Probolinggo-Banyuwangi toll road in collaboration with other consortium members, namely PT Brantas Abipraya (Persero, and PT Waskita Toll Road

Campina to Sell 15.04% Through IPO

Popular ice cream maker PT Campina Ice Cream Industry on Tuesday (22/11) unveiled its plan to sell 15.04 per cent of the company’s shares to the public, or 885 million shares via initial public offering (IPO). The company sets its IPO price at between Rp310 and Rp400 per share. The sets offering date on Dec. 8-12, 2017 followed by listing on the Indonesian Stock Exchange on Dec. 19.

Indah Kiat to Issue Rp1 Trillion MTN

Pulp and paper maker PT Indiah Kiat Pulp & Paper Tbk issues medium-term notes (MTN) worth Rp1 trillion, the proceeds of which will be used to strengthen its working capital. In a filing to the Indonesian Stock Exchange, the company said the portion of the MTN will be purchased by affiliated companies, namely, PT Sinarmas Asset Management amounting to Rp326 billion and PT Bank Sinarmas Tbk amounted to Rp15 billion. The remaining Rp659 billion will be offered to the public.

FSA to Issue Ruling on Lending Based on Technology System

Indonesia’s Financial Services Authority plans to issue stipulation by the end of this year that will govern financial technology (Fintech) companies that facilitates lending to consumers, including peer-to-peer lending services. The stipulation is a response to the rise of the technology-based lending system in the country.

Turkey’s Beko Expands to Indonesia

Home appliance producer from Turkey Beko is expanding to the Indonesian market to tap growing middle-class market. Zafer Ustuner, Regional Director for Asia Pacific of Beko said there is still wider room for Indonesian market to grow driven by growing middle class as well as huge population. Apart from Indonesia, the company also expands to China, Vietnam, Malaysia, Thailand, Pakistan, India and Australia. Beko is a member of Arcelik Group.

Advertising Spending on Television, Media Rises 8%

Advertising spending in television and media in the nine months to September reached RP107.7 trillion, representing an increase of 8 per cent form the same period last year, Executive Director and Head of Media Business of Nielsen Indonesia Hellen Katherina was quoted by Bisnis Indonesia as saying. The rise was partly due to an increase of televisions advertising rates, which was on average increased 6 per cent. Most of the advertising spendings or 80 per cent were spent on television, with the remaining 20 per cent were shared by the newspaper (19 per cent) and magazines 1 per cent.

Malaysia to Import Chickens, Ducks from Indonesia

Malaysia plans to import chickens and ducks from Indonesia, following a visit by Indonesian delegates, Animal Farm Board secretary general Ade Zulkarnain said, “A trade mission by the Agriculture Ministry to Malaysia on Monday offered to sell Malaysia livestock, including chickens and ducks from micro, small and medium-sized farms in Indonesia,” Ade was quoted by the Jakarta Post as saying.

Indonesia Power, Adaro to Jointly Develop Mine Mouth Power Plant

PT Indonesia Power, a subsidiary of state-owned electricity company PT Perusahaan Listrik Negara (PLN), teams up with PT Adaro Energy Tbk (IDX:ADRO) to develop mine-mouth power plant project in East Kalimantan, called PLTU Kaltim 5 with an installed capacity of 2×100 MW. Indonesia Power will hold 51 per cent stakes in the joint venture company that will build the plant and Adaro 49 per cent. (*)