JAKARTA (TheInsiderStories) – Here’s several news could affect stock market condition compiled by our team and Mandiri Sekuritas :
*PT Eagle High Plantation Tbk (BWPT), the Federal Land Development Authority (Felda) will now have two plantation arms, namely Felda Global Ventures Holdings Bhs (FGV) and BWPT to maximise its investment returns. Felda’s deputy director-general (management) Muzzammil Mohd Nor said there would be a lot of collaborations and cross-selling between the two companies. As Felda is investing in its core business which is palm oil plantation, Muzzammil said the BWPT investment represents a golden and probably the last opportunity for it to expand its palm oil plantation land bank globally.
*A group led by Eric Thohir plans to invest Rp2 trillion to gain full ownership of PT Asuransi Jiwa Bumiputera, a new unit of mutual insurer PT AJB Bumiputera 1912, the coordinating statutory manager Didi Achdijat said. AJB aims to start life insurance operations early next year after receiving the investment from Thohir’s consortium. AJB Bumiputera 1912 had been exploring options to raise at least US$1 billion from a sale of its business to an overseas investor following a restructuring.
*State-owned China Communication Constructions Group (CCCG) prepared investment US$1 billion for eight-tower complex is targeting young middle-income Indonesian couples and is one of the largest in the capital. Another foreign developer Japan’s Mitsubishi Corporation, Tokyu Land, Hong Kong Land, as well as Malaysian Sime Darby, have also signed deals in Jakarta and surrounding areas, according to data compiled by construction consultant BCI Asia. The projects are estimated to be worth at least $2.8 billion, or the highest by foreign developers since at least 2007, and come despite a sluggish Indonesian property market. Mitsubishi’s joint venture with PT Bumi Serpong Damai Tbk (BSDE) aims to build 1,000 housing and retail units, while Sime Darby’s partnership with Indonesian developer PT Hanson International Tbk (MYRX) will invest Rp11.3 trillion to develop a 500 ha site.
*The rate of the US dollar index fell in afternoon trading. as a strengthening performance of the Japanese yen after a decline in US bond yields reduce the demand for the greenback. The US dollar index which measures the movement of the US dollar against a basket of currencies today opened down 0.17%, or 0.180 points at 103.120.
*PT Aneka Tambang Tbk (ANTM, Rp895, NEUTRAL, TP 500) projecting ferronickel and gold production in 2016 exceeded the internal target or the company. Official statement that says that up to the beginning of the last week in December 2016, the company had produced 20,080 tonnes of nickel in ferronickel or higher than the internal target of 18,500 tonnes.
*PT Sentul City Tbk (BKSL, Rp94) intends to acquire an affiliated company which has an area of 273 hectares of reserve land in Bogor. Funding will come from the acquisition of a limited public offering with the rights issue.
*Invasive transport business based online application, making performance PT Blue Bird Tbk (BIRD, Rp2.850) as issuers participating taxi companies eroded because the market is declining. Just look, the third quarter of 2016, the company recorded a profit for the period fell 42.30% to Rp360,86 billion from the same period the previous year Rp625,42 billion. The company’s revenue edged down 9.06% to Rp3,64 trillion in the third quarter of 2016 from the same period the previous year IDR4.03 trillion.
*PT Nippon Indosari Corpindo Tbk (ROTI, Rp1.560) through Sarimonde Foods Corporation took over 100% of the shares All Fit & Cool Foods Inc for $ 173.55 million pesos, or about Rp46,9 billion. It said the two sides had signed a deed of absolute sale of shares of stock on Dec. 23, 2016. All Fit & Cool Foods is a manufacturer of bread in the Philippines that is listed as the owner of various brands under the brand group Walter Health Nutrition Breads, which is used in bread and other related products.