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

Darmin Sees 50 Companies Go IPO in 2018

Coordinating Minister for Economic Affairs Darmin Nasution sees 50 companies to list its share in this year. In 2017, 37 companies were recorded held initial public offerings (IPO). Meanwhile, Indonesia Stock Exchange (IDX) sees only 35 companies will listing in this year. Despite the modest target, IDX’s director Samsul Hidayat believes that this year’s economy will push more companies into listing their shares at the bourse, provided there is support from “sound economy and the government’s infrastructure programs”. Meanwhile, IDX president director Tito Sulistio is targeting to have a market capitalization value of Rp10 trillion in two years.

Fin Min: Freeport Negotiation Stil Continuing

Finance Minister Sri Mulyani Indrawati stated that the negotiation process with PT Freeport Indonesia (PTFI) is still continuing and does not face any obstacles. She noted that the extension of the operation will be linked to the mining business permit and will include all main obligations that must be implemented by Freeport Indonesia. Related to the divestment, Indonesian Stock Exchange’s President Director Tito Sulistio hope that PTFI would conduct an initial public offering at the bourse.

Alibaba Beats Google Chrome in Indonesia, India

The Alibaba-owned UC Browser is winning the war for mobile users in Indonesia and India the Chinese’s firm beating Google’s Chrome in these large developing markets. Chrome is the most widely used browser in the world, with more than 1 billion users. Globally, Chrome has a roughly 55 percent market share to Safari’s approximately 15 percent, as the second leading browser. The UC browser has just under 9 percent of the global market and is third after Safari. Firefox, Opera and Internet Explorer follow in that order.

Indonesia Offers Five Oil, Gas Blocks

Deputy Minister of Energy and Mineral Resources (MEMR) Arcandra Tahar said that investors were interested in five oil and gas working areas offered by the government. The government held auctions to bid out ten oil and gas blocks at the end of last year. He said, investors were recorded to have set their eyes on Andaman I, Andaman II, Merak-Lampung, Pekawai, and West Yamdema block. Areas that were not bid are South Tuna and Kasuri III as well as Tongkol, East Tanimbar, and Memberamo block. Arcandra stated the Energy Ministry will follow up on investors’ bid and conduct verifications. This process is expected to be completed in January or February 2018.

FSA Waiting MUFG Reports on Bank Danamon Acquisition

The Financial Services Authority (FSA) is waiting for an official report from Japanese bank, The Bank of Tokyo-Mitsubishi UFJ Ltd. (MUFG), which plans to acquire PT Bank Danamon Tbk (IDX: BDMN) shares of up to 73.8 percent.
Chairman of the Board of Commissioners of Indonesian FSA, Wimboh Santoso said on Monday (2/1). Under the Regulation of the FSA on Commercial Bank Ownership, the legal entity of a bank or financial institution may own a bank share of more than 40 percent of the bank`s capital, insofar as it obtains approval from OJK. As for other conditions, the bank must go public to achieve public ownership criteria of at least 20 percent. Previously, MUFG had agreed on a conditional sale and purchase agreement with Asia Financial (Indonesia) Pte Ltd and other entities to acquire 73.8 percent stake in Bank Danamon.

Jakarta Province Mulls IPO of 5 Local-Government Firms

The Jakarta provincial government mulls a plan to list five local-government owned companies, as a move to raise fresh funds and allow the public own shares int these companies. Deputy Governor of Jakarta province Sandiaga Uno said the five companies that could be listed are PT Jakarta Propertindo, PT Pembangunan Jaya, PT Bank DKI, PT Kawasan Berikat Nusantara and PT Jakarta Tourisindo. The provincial government will still hold controlling shareholder in these companies.

A number of Jakarta provincial government-owned companies have been listed, namely, PT Pembangunan Jaya Ancol Tbk (IDX:PJAA) which was listed in 1984, PT Alakasa Industrindo Tbk (IDX:ALKA) listed in July 1990 and beer producer PT Delta Djakarta Tbk (IDX:DLTA).

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here