JAKARTA-
Three Indonesian state banks have agreed to provide a syndicated loan of US$80 million to finance the construction of a geothermal power plant in Patuha, West Java.
Gatot M Suwondo, the president of Bank Negara Indonesia (BNI) (JSX:BBNI) said the bank is ready to lead the syndicate that will include PT Bank Mandiri (JSX:BMRI) and PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) to finance the project owned by PT Geo Dipa Energy.
Negotiation is still underway to decide the contributions of each bank, Gatot said after the signing of a memorandum of understanding between the three state lenders last week.
Praktimia Semiawan, the president of Geo Dipa, said the cost of building the 55-megawatt power plant is estimated to reach US$143 million.
Geo Dipa is a joint venture company between state power utility PLN and oil and gas company PT Pertamina. March 27th, 2009.
Friday, March 27, 2009
Wednesday, March 25, 2009
Indonesian auto finance, transport firms plan bond issues
JAKARTA - Two Indonesian finance firms and a transport group plan to raise 2.3 trillion rupiah ($202 million) in total from bonds, according to company officials and prospectuses, as domestic interest rates are set to fall further.
Several Indonesian companies have shown an interest in issuing bonds this year to raise funds for working capital and to repay maturing debt. Analysts estimate new corporate bonds could reach a total of around 10-15 trillion rupiah.
Tito Sulistio, chief commissioner at transport firm PT Mitra Rajasa Tbk, said on Tuesday the firm would raise about 750-900 billion rupiah from a bond issue in May.
PT Mandiri Sekuritas, a unit of Bank Mandiri, PT CIMB-GK Securities, a unit of Bank CIMB Niaga and PT DBS Vickers Securities Indonesia, part of DBS Group, have been appointed as underwriters.
Mitra Rajasa is changing its focus from transportation to energy and mining following its acquisition of drilling firm PT Apexindo Pratama Duta Tbk, and of two coal mines in South Sumatra for $40 million. It also plans to change its name to PT Mitra International Resources Tbk.
Two auto finance firms, PT Astra Sedaya Finance and PT Adira Finance Tbk, expect to raise 900 billion rupiah and 500 billion rupiah respectively in the second quarter.
Astra Sedaya, controlled by General Electric Co and Indonesia's largest automotive distributor PT Astra International Tbk, will issue five bond series with maturities ranging from 370 days to 36 months.
The fixed-rate bonds, underwritten by PT Indo Premier Securities, PT Mandiri Sekuritas, PT HSBC Securities Indonesia and PT ING Securities Indonesia, offer rates ranging from 13.50-14.90 percent, the firm said in a prospectus.
Adira Finance, controlled by Indonesia's fifth-largest bank PT Bank Danamon Tbk, plans to sell two-year and three-year bonds with coupons in the range of 12.3-14.5 percent.
PT CIMB-GK Securities Indonesia, PT HSBC Securities Indonesia and PT Indo Premier Securities have been appointed underwriters.
Indonesia's central bank has cut its benchmark interest rate by a total of 175 basis points to 7.75 percent since December and has indicated it could lower the rate further to drive growth. ($1 = 11,375 rupiah). March 24th 2009 By Reuters.
Several Indonesian companies have shown an interest in issuing bonds this year to raise funds for working capital and to repay maturing debt. Analysts estimate new corporate bonds could reach a total of around 10-15 trillion rupiah.
Tito Sulistio, chief commissioner at transport firm PT Mitra Rajasa Tbk, said on Tuesday the firm would raise about 750-900 billion rupiah from a bond issue in May.
PT Mandiri Sekuritas, a unit of Bank Mandiri, PT CIMB-GK Securities, a unit of Bank CIMB Niaga and PT DBS Vickers Securities Indonesia, part of DBS Group, have been appointed as underwriters.
Mitra Rajasa is changing its focus from transportation to energy and mining following its acquisition of drilling firm PT Apexindo Pratama Duta Tbk, and of two coal mines in South Sumatra for $40 million. It also plans to change its name to PT Mitra International Resources Tbk.
Two auto finance firms, PT Astra Sedaya Finance and PT Adira Finance Tbk, expect to raise 900 billion rupiah and 500 billion rupiah respectively in the second quarter.
Astra Sedaya, controlled by General Electric Co and Indonesia's largest automotive distributor PT Astra International Tbk, will issue five bond series with maturities ranging from 370 days to 36 months.
The fixed-rate bonds, underwritten by PT Indo Premier Securities, PT Mandiri Sekuritas, PT HSBC Securities Indonesia and PT ING Securities Indonesia, offer rates ranging from 13.50-14.90 percent, the firm said in a prospectus.
Adira Finance, controlled by Indonesia's fifth-largest bank PT Bank Danamon Tbk, plans to sell two-year and three-year bonds with coupons in the range of 12.3-14.5 percent.
PT CIMB-GK Securities Indonesia, PT HSBC Securities Indonesia and PT Indo Premier Securities have been appointed underwriters.
Indonesia's central bank has cut its benchmark interest rate by a total of 175 basis points to 7.75 percent since December and has indicated it could lower the rate further to drive growth. ($1 = 11,375 rupiah). March 24th 2009 By Reuters.
INDONESIA'S BTPN CHALKS UP THE HIGHEST ROE
JAKARTA - PT Bank Tabungan Pensiunan Nasional (BTPN) chalked up the second highest return on equity (ROE) among banks in Indonesia after state lender Bank Rakyat Indonesia (BRI) in 2008.
The medium bank had a ROE of 28.44 per cent by December, 2008 as against BRI's 32.86 per cent with BCA, the country's second largest lender in asset recording 28.29 per cent and Bank Mandiri, the country's largest bank 22.38 per cent.
BTPN recorded a 9.06 per cent increase in net profit to Rp378.89 billion (US$31.6 million) attributable to 32.81 per cent credit expansion that increased its outstanding credit to Rp10.43 trillion. , the newspaper Investor Daily said.
Its net interest income surged 25.85 per cent to Rp1.31 trillion and the bank succeeded in reducing its non performing loan to 0.59 per cent from 1.31 per cent. March 25th, 2009.
The medium bank had a ROE of 28.44 per cent by December, 2008 as against BRI's 32.86 per cent with BCA, the country's second largest lender in asset recording 28.29 per cent and Bank Mandiri, the country's largest bank 22.38 per cent.
BTPN recorded a 9.06 per cent increase in net profit to Rp378.89 billion (US$31.6 million) attributable to 32.81 per cent credit expansion that increased its outstanding credit to Rp10.43 trillion. , the newspaper Investor Daily said.
Its net interest income surged 25.85 per cent to Rp1.31 trillion and the bank succeeded in reducing its non performing loan to 0.59 per cent from 1.31 per cent. March 25th, 2009.
Tuesday, March 17, 2009
INDONESIA'S BANK PERMATA TO GET US$ 200 MLN CAPITAL INJECTION
JAKARTA-
Indonesia's PT Bank Permata (JSX:BNLI) will get a capital injection of US$200 million from its shareholders PT Astra International (JSX:ASII) and Standard Chartered bank.
The publicly listed lender will need fresh fund to strengthen its funding capacity, a bank sources told the newspaper Investor Daily.
Astra and Stanchart are finalizing the plan for additional capital to be available before July this year, the sources said.
Meanwhile, Bank Permata corporate secretary Sandi T Mulyana said additional capital is needed anticipating worse impact of the global financial crisis.
Mulyana, who declined to confirm the capital injection report, said the bank is considering three options to strengthen its capital - issuing bonds, launching right issue and seeking banks loans.
He denied suggestions that the bank needs capital injection to increase its capital adequacy ratio (CAR) saying the bank still has a safe CAR of 11 per cent well above the minimum limit of 8 per cent. (17th March 2009).
Indonesia's PT Bank Permata (JSX:BNLI) will get a capital injection of US$200 million from its shareholders PT Astra International (JSX:ASII) and Standard Chartered bank.
The publicly listed lender will need fresh fund to strengthen its funding capacity, a bank sources told the newspaper Investor Daily.
Astra and Stanchart are finalizing the plan for additional capital to be available before July this year, the sources said.
Meanwhile, Bank Permata corporate secretary Sandi T Mulyana said additional capital is needed anticipating worse impact of the global financial crisis.
Mulyana, who declined to confirm the capital injection report, said the bank is considering three options to strengthen its capital - issuing bonds, launching right issue and seeking banks loans.
He denied suggestions that the bank needs capital injection to increase its capital adequacy ratio (CAR) saying the bank still has a safe CAR of 11 per cent well above the minimum limit of 8 per cent. (17th March 2009).
Tuesday, March 10, 2009
15 Largest Listed Palm Planters
March 10 (Reuters) - Following are the 15 largest listed
palm planters, ranked by market value and mostly located in
Indonesia and Malaysia, the top producers of the vegetable oil.
Total plantation holdings are given in hectares and include
both cultivated and uncultivated land as well as joint ventures
with Indonesian smallholders.
The data is taken from company statements published in 2007 and 2008.
Cash/short term investments as well as short- and long-term
debt are from the latest available financial statements.
Company
a. Landbank (hectares)
b. Mkt Cap* ($ mln)
c. Cash/Short term Investments ($ mln)
d. Short&Long Term Debt ($ mln)
1 Wilmar
a. 11,883.7 ha
b. $ 3,747.8 mln
c. $ 5,283.5 mln
d. $ 218,645 mln
2 Sime Darby
a. 8,877.8
b. 802.5
c. 1,579.4
d. 522,363
3 IOI Corp
a. 6,145.9
b. 499.4
c. 1,384.7
d. 251,000
4 KL Kepong
a. 2,838.7
b. 374.5
c. 450.6
d. 360,000
5 Astra Agro
a. 1,555.7
b. 72.4
c. -nil-
d. 258,900
6 Golden Agri
a. 1,797.3
b. 137.8
c. 553.9
d. 637,361
7 Asiatic Dev
a. 809.1
b. 143.3
c. 5.4
d. 225,100
8 Boustead
a. 552.6
b. 180.2
c. 943.0
d. 100,000
9 United
a. 603.8
b. 100.2
c. -nil-
d. 80,874
10 Indofood
a. 475.1
b. 139.9
c. 482.7
d. 285,772
11 Kulim Bhd
a. 411.0
b. 112.8
c. 326.1
d. 88,484
12 IJM Plantations
353.0
14.5
9.4
70,000
13 London Sumatra
a. 352.7
b. 41.2
c. 61.4
d. 169,909
14 Sampoerna Agro
a. 176.5
b. 39.9
c. 18.9
d. 169,000
15 Bakrie S
a. 96.3
b. 40.6
c. 130.7
d. 80,000
* Market capitalisation on March 6, 2009.
(Sources: Company websites, Thomson Reuters data)
palm planters, ranked by market value and mostly located in
Indonesia and Malaysia, the top producers of the vegetable oil.
Total plantation holdings are given in hectares and include
both cultivated and uncultivated land as well as joint ventures
with Indonesian smallholders.
The data is taken from company statements published in 2007 and 2008.
Cash/short term investments as well as short- and long-term
debt are from the latest available financial statements.
Company
a. Landbank (hectares)
b. Mkt Cap* ($ mln)
c. Cash/Short term Investments ($ mln)
d. Short&Long Term Debt ($ mln)
1 Wilmar
a. 11,883.7 ha
b. $ 3,747.8 mln
c. $ 5,283.5 mln
d. $ 218,645 mln
2 Sime Darby
a. 8,877.8
b. 802.5
c. 1,579.4
d. 522,363
3 IOI Corp
a. 6,145.9
b. 499.4
c. 1,384.7
d. 251,000
4 KL Kepong
a. 2,838.7
b. 374.5
c. 450.6
d. 360,000
5 Astra Agro
a. 1,555.7
b. 72.4
c. -nil-
d. 258,900
6 Golden Agri
a. 1,797.3
b. 137.8
c. 553.9
d. 637,361
7 Asiatic Dev
a. 809.1
b. 143.3
c. 5.4
d. 225,100
8 Boustead
a. 552.6
b. 180.2
c. 943.0
d. 100,000
9 United
a. 603.8
b. 100.2
c. -nil-
d. 80,874
10 Indofood
a. 475.1
b. 139.9
c. 482.7
d. 285,772
11 Kulim Bhd
a. 411.0
b. 112.8
c. 326.1
d. 88,484
12 IJM Plantations
353.0
14.5
9.4
70,000
13 London Sumatra
a. 352.7
b. 41.2
c. 61.4
d. 169,909
14 Sampoerna Agro
a. 176.5
b. 39.9
c. 18.9
d. 169,000
15 Bakrie S
a. 96.3
b. 40.6
c. 130.7
d. 80,000
* Market capitalisation on March 6, 2009.
(Sources: Company websites, Thomson Reuters data)
Friday, March 6, 2009
Bank Danamon Issue Already Taken Up By 90% Of Holders-Sources
HONG KONG -
PT Bank Danamon Indonesia's (BDMN.JK) IDR4 trillion ( US$335 million) rights issue has already received pledges from 90% of the bank's existing shareholders, people close to the situation said Thursday.
Subscriptions to the rights offer begin April 7 and end April 14.
One person said a number of parties that don't have any holdings in the bank have expressed interest in purchasing the new shares by sub-underwriting the deal.
He declined to comment on the identity of the parties. Sub-underwriters underwrite the risk taken on by underwriters. Dow Jones, 4 March 2009
PT Bank Danamon Indonesia's (BDMN.JK) IDR4 trillion ( US$335 million) rights issue has already received pledges from 90% of the bank's existing shareholders, people close to the situation said Thursday.
Subscriptions to the rights offer begin April 7 and end April 14.
One person said a number of parties that don't have any holdings in the bank have expressed interest in purchasing the new shares by sub-underwriting the deal.
He declined to comment on the identity of the parties. Sub-underwriters underwrite the risk taken on by underwriters. Dow Jones, 4 March 2009
BANK INDONESIA REVOKES PERMIT OF AMEX BANK BRANCH OFFICE
JAKARTA-
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
BANK INDONESIA REVOKES PERMIT OF AMEX BANK BRANCH OFFICE
JAKARTA-
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
Bank Indonesia (BI) as Indonesia's central bank revoked the permit of the American Express Bank branch office at the request of the bank's headquarters for self liquidation in view of the ongoing process of integrated management of the Standard Chartered Bank and the American Express Bank, Ltd.
Sources from Bank Indonesia's public relations office here said on Wednesday the revocation of the permit was effective as of February 24, 2009 on the basis of Bank Indonesia's decision No. 11/2009 dated February 24, 2009.
Following the revocation of the permit to establish a branch office in Indonesia and to conduct banking business activities as a commercial bank based on decree of the Finance Ministry No D.15.6.2.3 of March 21, 1968 on the granting of business permit to the American Express International Banking Cooperation in Hartford, Connecticut, USA with its head office in New York, which then changed its name into the American Express Bank, Ltd based on the Indonesian Finance Ministry decree No S-404/MK.11 1985 of August 27, 1985, is no longer valid,.
"For customers and other parties who still have the right or obligation to the branch office of the American Express Bank Ltd. in Indonesia are advised to contact the branch office of Standard Chartered Bank in Indonesia," the sources said. 05 March 2009 (ANTARA)
Monday, March 2, 2009
BANK OF CENTRAL ASIA POSTS 16.7% RISE IN NET PROFIT TO US$480MLN
JAKARTA, Mar 02, 2009 (AsiaPulse via COMTEX) -- PT Bank Central Asia (BCA) posted a 16.7 per cent increase in net profit to Rp5.3 trillion (US$480 million) un-audited year-on-year in 2008 driven by a surge in interest income.
The country's largest private banks recorded a 17.7 per cent increase in interest income to Rp19.3 trillion with cost of fund rising only 2.98 per cent to Rp6.9 trillion.
The bank, which is controlled by Faralon Capital (USA), posted a sharp increase of 38.5 per cent in operating income to Rp3.6 trillion.
Its outstanding credit rose 37 per cent to Rp112.7 trillion with third party fund it held rising 10.8 per cent to Rp209.5 trillion, the newspaper Bisnis
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