JAKARTA (TheInsiderStories) – Followings are some news that could affect trading on the stock market today, which are compiled by our team and Mandiri Sekuritas :
- Parent state-owned mining producer, PT Indonesia Asahan Aluminium (Inalum) claimed that the company is ready to take over 10.64 percent share divestment of PT Freeport Indonesia if the government gave instructions. Director of Inalum Winardi Sunoto stated, from the operational side, INALUM already has the experience in dealing with such underground project of PT Aneka Tambang Tbk (ANTM), which is also processing (hydro-metallurgy).
- PT Bank Rakyat Indonesia Tbk (BBRI) plans to expand business overseas with the State-Owned Banks Association (Himbara). The business expansions that are conducted jointly by state-owned lenders are expected to bring profit to Reviews their businesses because the market coverage will be more extensive. BBRI president director Asmawi Syam said, the state-owned lenders ought not to compete with each other abroad. Instead, they should synergize. Asmawi argued that overseas expansion under the name of the new joint will be carried out once the holding company for Indonesian state-owned bank is established.
- Otto Hasibuan, Indonesian Advocate Association advisory council (Peradi) chairman, said that the Indonesian government would have a strong case against PT Freeport Indonesia if the company was to bring the dispute surrounding the export license to an international arbitration. He explained that the government has a strong position because it upholds Government Regulation No. 1/2017 on the fourth amendment to Government Regulation No. 23/2010 on mineral and coal mining business. Otto said, that if Freeport did not fulfill one of its obligations, such as constructing a smelter, it would be considered as a default. Peradi declared support for the Indonesian government, if Freeport realized its plan to file a lawsuit with an international arbitration.
- Nelson Tampubolon, Board of Commissioners of the Financial Services Authority (FSA) in Banking estimated credit growth of banking industry in the first quarter of 2017 grow more than 8.5% year on year. The prediction is inline with the situation in the first quarter of 2017 the credit growth amounted to 8.51% which is down compared to credit growth in the first quarter of 2015 amounted to 11.36%.
- The Financial Services Authority (OJK) will take a number of US economic policies under the administration of President Donald Trump into consideration before making decisions on capping the gap of maximum deposit interests for Category IV Banks (BUKU IV) and and Category III Banks (BUKU III). BUKU III banks include banks with a capital of under Rp 30 trillion. Meanwhile, banks that have more than Rp 40 trillion in capital are categorized under BUKU IV. Currently, the gap of maximum deposit interest between BUKU IV and BUKU III banks is 25 base points (bps). OJK previously mentioned that they are planning to reduce the gap this year.
- PT Energi Mega Persada Tbk (ENRG, Rp50) hopes to combine the par value of shares (reverse stock) in the near future. After reverse stock action, they will restructure the business to get into midstream oil and gas sector and the energy downstream. Emiten is exploring the acquisition of projects that have run or will be developed.
- PT Sugih Energy Tbk (SUGI, Rp114), through its subsidiary, PT Eastwin Global Investment Ltd., signed a loan facility worth US $ 41.44 million from Mandala Funding (Caymans) Ltd. Eastwin Global Investment Ltd is the owner of a 34% participating interest of the working area Lemang. As one holder portion for Contractor Cooperation Contract (PSC) for the working area Lemang, Sugih Energy is committed to developing the region. Together with two other companies, namely PT Hexindo Gemilang Jaya and PT Mandala Energy they will develop the infrastructure in the working area. Director of Energy Sugih Supriyato say, for now a new field of the region Akatara Lemang exploration has been done since November 2016 yesterday. According to records of oil production capacity in the field recently reached 300 BOPD (barrels of oil per day).
- 5 Issuer ready to fulfill free float of shares outstanding by 7.5% in the third quarter of this year. Director of Corporate Valuation BEI, Samsul Hidayat explained, for the realization of this free float rule, issuers could do with some schemes, ranging from the private placement to the rights issue. Fifth issuers are PT Chandra Asri Petrochemical Tbk (TPIA, Rp23,500), PT Bank CIMB Niaga Tbk (BNGA, USD BUY, TP Rp1,335), PT Golden Energy Mines Tbk (GEMS, Rp3,000), PT Sinar Mas Agro Resources and Technology Tbk (SMAR, USD 4200) and PT Keramika Indonesia Tbk (KIAS, Rp85).
- IDX reported there are 7 Candidates Ready for IPO, said Director of Assessment BEI, Samsul Hidayat. The seven companies are PT Bintraco Dharma, PT Nusantara Port Reliable, PT Sariguna Primatirta, PT Terragera Asia Energy, PT Sanur Hasta Mitra, PT Cahaya Sakti Investindo, and PT Samudera Shipping Tamarin. (*)