*Fitch Ratings believes the credit profile of nine Indonesian banks were rated Fitch quite resilient (Sufficiently resilient) to face a weakening of commodity prices; pressure rupiah; the increase in non-current loans (NPL); and challenging operational conditions. Power is backed by their profitability and strong capitalization.
*PT Cita Mineral Investindo Tbk (CITA, Rp940) will issue bonds with a maximum value of US $ 30 million with interest of 2.8% per year and tenor of 2 years of the date of issuance. Oversea-Chinese Banking Corporation Limited (OCBC Ltd) will act as calculation agent.
*PT Aneka Gas Industri Tbk aiming for revenue growth of 20% this year. In the past year, Aneka Gas posted a revenue of Rp 1.4 trillion, up from the previous year amounting to Rp1 trillion.
* PT Astra International Tbk (ASII, Rp8.550, NEUTRAL, TP Rp8.200) will distribute interim dividend the year ended December 31, 2016 amounting to Rp 55 per share. The dividend will be on 21 October 2016. The cum and ex interim dividend on the regular market and negotiation falls on September 26 and September 27, 2016. As for the cash market fell on 29 September and 30 September 2016.
*Issuers financing company PT Buana Finance Tbk (BBLD, 1,000) raised a loan of Rp 25 billion from PT Bank Nationalnobu Tbk (NOBU, Rp460).
*Takasago Indonesia add an investment of US $ 19.5 million to build a new plant that will begin operation in 2018. Ajinomoto Indonesia also announced the expansion of the factory with an investment of US $ 23 million. GAPMMI states own food ingredients business portion of the business 25-35% of the total value of food and beverage business (Rp1,250 trillion) in 2015.
* Based on research by Colliers, of the total land sales in the 2Q16 period Jabodetabek, Cikarang, and Serang, about 48% of which is used for warehousing as compared to the construction of the plant. It was triggered by the trend of online business and logistics business in Indonesia.
*PT Jakarta Propertindo had chosen three state-owned contractor who pass the initial selection of a total of six participants. Seven routes LRT project is expected to begin construction on Oct16 with an estimated investment of Rp23,8 trillion.
*PT Ciputra Development Tbk (CTRA, Rp1,600, BUY, TP Rp1,600) targets targets master plan of merger to be completed in Oct16. The plan, the merger will be carried out through a share swap scheme.
*PT Waskita Concrete Precast Tbk (WSBP, Rp525) acquired new contracts worth Rp 7 trillion to 9M16. Values reflect the achievement of 90% of the new contract target FY16 Rp7,76 trillion. While its holding company PT Waskita Karya Tbk (wkst, Rp2.560, BUY, TP Rp3,200) targeting 3.1 trillion funds from the divestment of the toll road business. Currently the company is selecting three candidates for stock investors Waskita Toll Road. WSKT targets to roll out (IPO) Waskita Toll Road in 2017 with a target of Rp10 trillion of equity funds.
Sources: Mandiri Sekuritas