*The subsidiary of PT Pembangunan Perumahan Tbk (PTPP, Rp4.350, BUY, TP Rp4,300), PT PP Precast acquired PT Griyaton Indonesia totaling Rp71,85 billion. Of this amount, 40 billion in the form of direct equity acquisition of PT Menara Duta and the rest of the transfer Rp31,85 billion worth of debt. PP controlled 96.57% Griyaton shares.
*PT Eka Sari Lorena Transport Tbk (LRNA, Rp132) posted a comprehensive loss of Rp12 billion in the first half of 2016. Based on the company’s financial statements.
*PT Chandra Asri Petrochemical Tbk (TPIA, 10,000) will distribute an interim dividend of US $ 0.01 per share or Rp132,68 per share on September 15, 2016. The company’s net profit recorded US$131.75 million in the first half of 2016. According Suryandi, Director of the company stated that the main factor driving the positive performance of the product is a wide margin.
*PT Puradelta Lestari Tbk (DMAS, Rp254, BUY, TP 350) plans to start operating the rental apartments or serviced apartment Le Premier in early September 2016. Operational apartments will add to the coffers of the company’s revenue.
*PT Japfa Comfeed Indonesia Tbk (JPFA, Rp1.675) Riveren and sell cattle farm in Australia to Lavington Inverway Pty Ltd.Tujuan of the transactions was to gain investment and develop a business culture in the country.
*Muhammadiyah launched a judicial review against the tax amnesty legislation. Muhammadiyah see that the law is burdensome and unfair for the community because it deviates from the primary target, the repatriation of funds conglomerate, and instead of including people. Muhammadiyah lawsuit against the tax amnesty law is the second after the Foundation The United Struggle for Justice and the people of Indonesia.
*Financial Service Agency (OJK) allows the bank to branchless banking licenses to extend credit without having to seek additional approval. Banking optimistic to achieve double-digit growth. Although the central bank lowered the credit growth target to 7-9% for 2016, the OJK approaching double-digit growth of 10-12% for this year. Despite the anticipated lower credit growth, banks in BOOK IV still optimistic because they have revised the credit growth target for this year in their business plan.
*Until the end of August, the central bank has not yet released regulations or circulars from the relaxation of LTV. According to the President Director of PT Bank Central Asia Tbk (BBCA, Rp15.175, NEUTRAL, TP Rp13.000) Jahja Setiaatmadja, delays in the issuance of regulations and circulars will delay the increase in demand for mortgages for next year.
*Exports of four-wheeled vehicles (4W) down -12% year on year to 106 100 units in 7M16 from 120 800 units in 7M15. Gaikindo’s chair Jongkie D. Sugiarto Chairman stated that the decline in exports was driven by lower global demand, particularly in East Asia, and Asia.
*PT Astra Agro Lestari Tbk (AALI, Rp16.400, BUY, TP Rp16.500) entering the business breeding cattle. Cattle population currently stands at 2,060 cows and has planned to import 5,000 cows in 2H16. AALI has realized up to 75 billion for the initial investment in the business.
*PT Bank Tabungan Negara Tbk (BBTN, Rp1,990, BUY, TP Rp2,150) launched Multipurpose Program Untung. Target BBTN to raise cheap funds Rp6.3tn of Serba Untung Program (Attack) it, part of the savings BBTN Batara. BBTN just launched Assault Program in Makassar, South Sulawesi.
*PT Kimia Farma Tbk (KAEF, Rp925) Ajab build its own factory pharmaceutical ingredients. Companies do shopping Rp135 billion for the plant material. As many as 90% of raw materials are imported KAEF, and KAEF assign 75% of the factory’s output will be used for export.
*PT Jaya Real Property Tbk (JRPT, IDR830) will enter a new market. The company aims to develop 40 units of the boarding house and several shophouses 3 floors in Jaya University Town Tangerang, Banten. The initial investment cost for the two projects is estimated at Rp50bn.
*PT Pembangunan Perumahan Tbk (PTPP, Rp4.410, BUY, TP Rp4,300) targets revenue of 2.5 trillion-3 trillion of EPC business in 2016. PTPP is currently undergoing a fourth project soft power plants including Bangka-1 power plant and power plant Kalselteng-3, as well as a project aimed at developing the Independent Power Plant (IPP) 4.000MW within the next 3 years. Previous PTPP has posted Rp1.1 trillion from EPC business in 1H16.
*PT Surya Semesta Internusa Tbk (SSIA, Rp630, NEUTRAL, TP 700) continue the process of acquiring additional land until 200ha.Angka was revised down from the previous company’s target of 300ha due to some difficulties such as financing.