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Friday, March 3, 2017
Brief

The Insider Stories Market Briefs

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JAKARTA (TheInsiderStories) – The followings are some news, compiled by Mandiri Sekuritas, and other sources that may affect market trading today:

*Motorcycle sales in Indonesia fell 7.8 percent in September from a year earlier, Gaikindo reported. Motorbike sales stood at 555,820 units in September, down from 603,102 units sold in the same month last year, but showed an increase from 527,536 units sold in August. On a monthly basis, the sales were up 5.4 percent. Motorcycles are hugely popular in Southeast Asia’s biggest economy and their sales are a key indicator of consumption. Sales in September were led by Honda Motor, Yamaha Motor and Kawasaki, the data showed.

*Business Competition Supervisory Commission (KPPU) will call management of PT Indosat Ooredoo Tbk (ISAT, Rp6.375) and PT XL Axiata Tbk (EXCL, Rp2.650, NEUTRAL, TP Rp3,600) related to alleged cartel practices while forming a joint venture PT One Indonesia Synergy.

*PT Aneka Tambang Tbk (ANTM, Rp825, NEUTRAL, TP 500) Tbk has completed the construction of a coal power plant with a capacity of 2×30 megawatts (mw) which is part of Pomalaa Ferronickel Plant Expansion Project (P3FP). President Director of Aneka Tambang Badrujaman Tedy said, with the completion of the coal power plant, the company is preparing the P3FP overall settlement with an estimated commercial operation by the end of this year.

*Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said Japan is committed to invest not less than US$10 billion in 20,17.

*PT Siloam International Hospitals Ltd (SILO, Rp10.275, NEUTRAL, TP Rp10.820) has secured approval from the General Meeting Extraordinary Shareholders (EGM) to issue new shares. The company owned by the Lippo Group, will issue 144.5 million or 12.5% of total number of shares issued and fully paid, with price Rp9,000 per share.

*Finance Ministry issued five series of state debentures in a regular auction today Rp6,15 trillion worth of incoming requests Rp12,76 trillion. Total issuance was below the government’s indicative target of Rp12 trillion. (*)