JAKARTA (TheInsiderStories) – Here’s several news could affect stock market condition compiled by our team :
*The proposed collaboration between Indonesia’s top property developers PT Hanson International Tbk (MYRX) with Malaysia’s Sime Darby Bhd, SPN Setia Bhd and unit of Permodalan Nasional Bhd’s to develop a RM3.5 billion housing project in Jakarta, has been cancelled. In a filing with Bursa Malaysia, SP Setia said the Malaysian companies are exercising the right to terminate with immediate effect the memorandum of understanding (MoU), which was signed in August last year on the sidelines of the World Islamic Economic Forum in Jakarta. No reason was given. The project was to be located on 500ha in Maja, Tangerang, next to an existing township Citra Maja Raya that was being developed by Hanson in partnership with Ciputra Group. In October last year, the four parties inked a supplemental MoU to extend the MoU’s validity period by four months, from Nov. 2, 2016 to March 2, 2017.
*Central Java Governor Ganjar Pranowo officially revoke the environmental permit mining of raw materials and the operation of a cement factory owned by PT Semen Indonesia Tbk (SMGR) in Rembang, Central Java. The original plan of the plant scheduled commercial operations in January 2017. The plant requires an investment of Rp 4.9 trillion. Although it has been revoked, the company will not to move the plant with a capacity of 3 million tons per year.
*The tools-producing company PT Maspion plan to go IPO in this year, said President Director Alim Markus. The Company has appointed BNP Paribas SA and PT Mandiri Sekuritas helped the process of finding fresh funds, which reportedly reached US$ 200 million. In 2013, one of Maspion group unit, PT BankMaspion Tbk (BMAS) had been listed on the stock exchange. Currently, the market capitalization of BMAS worth $136 million.
*A subsidiary of PT Delta Dunia Makmur Tbk (DOID), PT Bukit Makmur Mandiri Utama or BUMA prepared a roadshow to several cities in Asia, Europe, and the United States in the framework of the debt issuance. BUMA intends to issue bonds as much as US$500 million and to be listed on the Singapore Securities Exchange. Proceeds from the issuance of debt securities will be used to pay off debt of BUMA to SMBC and CIMB Niaga. On Nov. 15, 2016. BUMA received ratings of Ba3 rating (stable) from Moody’s and BB- (stable) by Fitch, has appointed BoA Merrill Lynch, J.P. Morgan and Morgan Stanley as joint lead managers and book-runners for the IPO.
*FIRST Reit and Lippo Malls Indonesia Retail Trust (LMIRT) have decided to terminate a deal to buy an integrated development in Yogyakarta and Indonesia from PT Lippo Karawaci Tbk (LPKR). They had first announced the signing of the sale and purchase agreement in February 2016. The purpose of the termination was to give more time for the vendor to carry out asset enhancement works to the retail mall component known as Lippo Plaza in Jogjakarta, as well as to obtain the relevant license for the operation of the hospital component called Siloam Hospitals Yogyakarta. PT Siloam International Hospitals Ltd (SILO, Rp12.050) acquired two hospitalsin Bekasi and Mataram in this month. The acquisition value of the two hospitals was Rp 182 billion.
*Mandiri Sekuritas presented to customers is MOST FUND, service and redemption of Mutual Fund Unit online. For information, the Indonesian Internet Service Provider Association (APJII) recorded as many as 93 million people or 70% of Indonesia’s 133 million users access the Internet anywhere or mobile. Financial Service Agency noted the amount of funds under management of the mutual fund industry in 2016 reached Rp328.5 trillion or increased significantly by 43.3% from 2015 with worth of Rp259.5 trillion. Currently,President Director of Mandiri Sekuritas Silvano Rumantir said, the company has been trusted by more than 58,000 customers who invest in the stock market and record transaction value of Rp134 trillion with a market share of 3.6%.
*Standard Chartered Bank Plc as a shareholder of PT Bank Permata Tbk (BNLI, Rp670) has insisted will not release ownership stake in Bank Permata. But this should not be an obstacle to Conglomerates Tahir and Eric Thohir to keep plans to acquire shares owned by Standard Chartered in order to seize the bank’s shares.
*PT Siloam International Hospitals Ltd (SILO, Rp12.050) acquired two hospitals in Bekasi and Mataram in this month. The acquisition value of the two hospitals was Rp 182 billion.
*Gold prices recorded a rise and near the highest level in the past seven weeks ahead of a speech British Prime Minister Theresa May who predicted offending “hard Brexit”. It is estimated that gold will move positively in the first half year as a result of global events.
*Import and consumption of Liquefied Petroleum Gas (LPG) more increased while supply from within and outside the country increasingly difficult to obtain. Every year, LPG consumption rose by 13%, indicating that imports have also increased. In 2017, 70% more than LPG dependent on imports, thus the higher the Indonesia’s dependence on imports. PT Pertamina and the government to develop new energy from coal to replace LPG with cheaper prices 20%. The alternatives were developed for supply of LPG is still a constraint to the continued reduction in resources.