JAKARTA (TheInsiderStories) – Followings are some news that could affect trading on the stock market today, which are compiled by our team and Mandiri Sekuritas :
- Indonesian President Joko Widodo will visit Australia on Feb. 26 to discuss efforts to enhance cooperation on fighting terrorism and economy issues like an investment, trade, tourism and education, said Minister Foreign Affairs Retno Marsudi. During the visit President Widodo will meet with Australian Prime Minister Malcolm Turnbull. The meeting would follow up scores of issues, which had initially discussed a plan to intercept terrorist funds, de-radicalization, refugee, and drug abuse as well as cyber crime by the representatives of the two nations, said the minister.
- Malaysian Grab is reportedly plan to acquire Indonesian online payment startup Kudo followed its planned to invest US$700m in Indonesia over the next four years. Kudo was founded in 2014 to facilitate online transactions for people in Indonesia in small towns and cities without bank accounts and helping them to make purchases with cash through its agents. The deal could be announced in this month and is hoping will help it to expand in the online payment space. In November 2016, Grab launched GrabPay credits, a cashless payment method to enable customers to top-up their balance through local banks, ATMs, stores, and online. This followed the company’s $750m funding round in September.
- PT Aneka Tambang Tbk (ANTM) has an estimated 5 million tonnes of low-grade wet nickel ore available for immediate shipping, corporate secretary Trenggono Sutioso said. Antam is waiting for further guidance from the government before starting to export, he added.
- Indonesia Stock Exchange treats the movement of PT Mas Murni Indonesia Tbk (MAMI, Rp94), PT Perdana Karya Perkasa Tbk (PKPK, Rp87), and PT Graha Andrasentra Propertindo Tbk (JGLE, Rp232) into a category unusual movement (UMA) on Monday. The stock exchange authority urged investors to pay attention to information disclosure.
- The government through the Ministry of Public Works and Public Housing set up the financing scheme for informal workers with income up to Rp 4 million to repay a home. With Home Loan scheme Housing Finance Liquidity Facility (FLPP), the low-income people could get a mortgage interest subsidy of 5% per month of the supposed 12%.
- PT Garuda Indonesia Tbk (GIAA, Rp356) wants to sell 20% stake in PT Garuda Maintenance Facility (GMF) through the IPO. GIAA said that this year could the right time for the subsidiary to go public on the back of steady economic growth. IPO will not only be done for domestic market, but also regionally and globally.
- PT Bank MNC International Tbk (BABP, Rp73) is seeking funds of Rp500 billion from rights issue to increase the capital of the company in 2017. The capital injection will come from it shareholders, PT MNC Capital Tbk (BCAP, Rp1.480). The corporate action is also part of the plan issuer to acquire other banks. BABP bank intends to acquire BOOK I.
- As many as 37 international companies showed their interested to be partnering with of state-owned energy provider PT Pertamina to build Bontang refinery. In April, Pertamina will replan the construction of the refinery in Bontang, East Kalimantan. Previously, Pertamina has appointed Russia’s Rosneft to build a refinery in Tuban, East Java. The company also has set a target that in 2023, Pertamina will no longer to import fuel. This target is considered to be quite realistic considering the construction of new refineries and refinery development of several carried out by Pertamina.
- Copper prices edged to a fresh 20-month high on Monday, as a strike at the world’s largest copper mine and the threat of supply disruptions at an Indonesia mine stoked supply worries. The three-month London Metal Exchange contract rose 0.10% to US$6,097 per metric ton in midmorning trade, its highest point since late May 2015. On Friday, prices briefly dipped on reports that the government had offered Freeport Indonesia a special export license, before rallying after the company said there was still no agreement. The other base metals were mostly higher on Monday. Lead was up 1.71% at $2,443 a metric ton, zinc was up 0.89% at $2,952 per ton, nickel was up 0.89% at $10,745 per ton and tin was up 1.75% at $19,756 per ton. Aluminum was down 0.13% at $1,873.50 a metric ton. (*)