ANYER, West Java-
PT Bank Rakyat Indonesia (BRI) plans to issue bonds worth no less than Rp2 trillion (US$194 million) in the second semester this year to increase its capital and credit distribution.
"We have already made preparations for it," the bank`s head of planning and strategy division, Irianto, said in a press gathering here on Saturday.
He said he still had yet to wait for the financial report for the first semester at the end of June before implementing the plan.
He said it would take around one and a half months or two months to audit the first semester`s financial report and therefore the issuance of the bonds would only be done after July.
Irianto said no decision had been made yet on whether the bond would mature in five or ten years.
He said BRI had actually planned to issue bonds several semesters before but because economic conditions were not supportive the plan had been delayed.
The bank`s head of investor relationship desk, Haru Koesmahargiyo, said BRI until March 2009 still performed well growing above the average national banks.
"BRI`s assets grew 24.78 percent, third party funds up 27.23 percent and credit rose 39.51 percent while profit increased 22.02 percent," he said.
Haru said the value of BRI`s asssets reached Rp250.14 trillion while its outstanding credit Rp165.23 trillion, third-party funds Rp203.11 trillion and net profit Rp1.72 trillion.
The bank`s capital adequacy ratio was recorded at 14.91 percent while its non-performing loan 3.24 percent and its loan to deposit ratio at 81.35 percent.
Monday, June 22, 2009
Friday, June 12, 2009
Indonesia's BRI Syariah sees doubling in assets
JAKARTA -
Indonesian Islamic lender PT Bank Rakyat Indonesia Syariah (BRI Syariah) expects its assets to double to 3 trillion rupiah ($297.6 million) by the end of the year, the bank's top official told to reporters.
Indonesia is seen as a prime market for Islamic finance with around 85 percent of its population of 226 million people following Islam, although growth has been slow.
The central bank in January forecast that sharia banks would account for 3 percent of total banking industry assets this year, compared to just over 2 percent of the national banking assets in 2008, far lower than its neighbour Malaysia and Singapore.
"Our assets are at about 1.5 trillion rupiah and we hope they will increase to 3 trillion rupiah by the end of the year," chief director Ventje Raharjo said late on Thursday.
The world's largest populated Muslim country has been lagging in developing sharia banking, due to factors such as tax regulations and a lack of expertise.
The bank had also secured an additional 500 billion rupiah of funds to double its working capital to 1 trillion rupiah.
"It will be used for investment, strengthening the infrastructure and expanding business," Raharjo said.
He added the bank would focus more on low- and middle-income segments, in line with its parent company, PT Bank Rakyat Indonesia Tbk (BBRI.JK).
Most Islamic-based banks and sharia banking divisions in the country have provided financing for small- and medium- sized enterprises, focusing on agriculture, manufacturing, and trading sectors as well as business services.
Indonesia has five sharia banks and 25 commercial banks with sharia units, as of April 2009, central bank data showed. From Reuters, 12th June 2009
Indonesian Islamic lender PT Bank Rakyat Indonesia Syariah (BRI Syariah) expects its assets to double to 3 trillion rupiah ($297.6 million) by the end of the year, the bank's top official told to reporters.
Indonesia is seen as a prime market for Islamic finance with around 85 percent of its population of 226 million people following Islam, although growth has been slow.
The central bank in January forecast that sharia banks would account for 3 percent of total banking industry assets this year, compared to just over 2 percent of the national banking assets in 2008, far lower than its neighbour Malaysia and Singapore.
"Our assets are at about 1.5 trillion rupiah and we hope they will increase to 3 trillion rupiah by the end of the year," chief director Ventje Raharjo said late on Thursday.
The world's largest populated Muslim country has been lagging in developing sharia banking, due to factors such as tax regulations and a lack of expertise.
The bank had also secured an additional 500 billion rupiah of funds to double its working capital to 1 trillion rupiah.
"It will be used for investment, strengthening the infrastructure and expanding business," Raharjo said.
He added the bank would focus more on low- and middle-income segments, in line with its parent company, PT Bank Rakyat Indonesia Tbk (BBRI.JK).
Most Islamic-based banks and sharia banking divisions in the country have provided financing for small- and medium- sized enterprises, focusing on agriculture, manufacturing, and trading sectors as well as business services.
Indonesia has five sharia banks and 25 commercial banks with sharia units, as of April 2009, central bank data showed. From Reuters, 12th June 2009
Indonesia's Bakrie says to buy back Bumi shares
JAKARTA -
Indonesia's PT Bakrie & Brothers Tbk (BNBR.JK) plans to buy back shares in coal miner PT Bumi Resources (BUMI.JK) and property firm PT Bakrieland Development Tbk (ELTY.JK), a director said on Thursday.
The diversified group, whose interests range from plantations to telecoms and coal, struck a number of deals, including sale stakes, late last year to help repay around $1.2 billion in debt.
The politically connected group, controlled by the family of Indonesia's chief welfare minister Aburizal Barkie, has said its debts have been halved to the equivalent of $627 million. [ID:nJAK414315]
Asked about a report that the firm planned to spend $150 million on buying back shares in Bumi and Bakrieland, Bakrie & Brothers' Finance Director Yuanita Rohali said the firm had an option to buy back shares in the fourth quarter.
"We have the intention to exercise the options on their exercise date in the fourth quarter," Rohali told Reuters via email, adding it planned to buy around a 6.4 percent stake in Bakrieland and around a 4.2 percent stake in Bumi.
"We're still reviewing alternatives for the source of funds," Rohali said.
Shares of Bakrie & Brothers gained 3.3 percent on Thursday to close at 94 rupiah, while Bumi shares fell 1.1 percent to 2,225 rupiah and Bakrieland Development fell 3 percent to 315 rupiah.
The Jakarta Composite Index .JKSE fell 0.91 percent. From Reuters, 11th June 2009
Indonesia's PT Bakrie & Brothers Tbk (BNBR.JK) plans to buy back shares in coal miner PT Bumi Resources (BUMI.JK) and property firm PT Bakrieland Development Tbk (ELTY.JK), a director said on Thursday.
The diversified group, whose interests range from plantations to telecoms and coal, struck a number of deals, including sale stakes, late last year to help repay around $1.2 billion in debt.
The politically connected group, controlled by the family of Indonesia's chief welfare minister Aburizal Barkie, has said its debts have been halved to the equivalent of $627 million. [ID:nJAK414315]
Asked about a report that the firm planned to spend $150 million on buying back shares in Bumi and Bakrieland, Bakrie & Brothers' Finance Director Yuanita Rohali said the firm had an option to buy back shares in the fourth quarter.
"We have the intention to exercise the options on their exercise date in the fourth quarter," Rohali told Reuters via email, adding it planned to buy around a 6.4 percent stake in Bakrieland and around a 4.2 percent stake in Bumi.
"We're still reviewing alternatives for the source of funds," Rohali said.
Shares of Bakrie & Brothers gained 3.3 percent on Thursday to close at 94 rupiah, while Bumi shares fell 1.1 percent to 2,225 rupiah and Bakrieland Development fell 3 percent to 315 rupiah.
The Jakarta Composite Index .JKSE fell 0.91 percent. From Reuters, 11th June 2009
Northstar-Saratoga preferred for Indonesia's Elnusa
JAKARTA -
A consortium made up of Indonesian private equity firms Northstar Pacific and Saratoga Capital has been named the preferred bidder for a stake in oil services firm PT Elnusa Tbk, the arranger for the deal said.
Plans by contracting firm PT Tri Daya Esta's to divest its 37 percent stake in Elnusa (ELSA.JK) attracted several bidders, including state energy firm Pertamina, which has already has a 41 percent stake in Elnusa.
"Tri Daya Esta will immediately continue to complete the negotiation with Northstar-Saratoga consortium, which has been stated as preferred bidder," PT Bahana Securities said a statement late on Thursday.
Officials from Northstar or Saratoga were not immediately available for comment.
Bahana said the consortium was chosen because it offered a credible business plan and the best offer price, but did not elaborate.
The transaction is expected to be completed within eight to ten weeks.
Elnusa's shares fell 4.9 percent to 385 rupiah as of 0809 GMT, compared to a 0.23 percent fall in the broader market .JKSE. From Reuters, 11th June 2009
A consortium made up of Indonesian private equity firms Northstar Pacific and Saratoga Capital has been named the preferred bidder for a stake in oil services firm PT Elnusa Tbk, the arranger for the deal said.
Plans by contracting firm PT Tri Daya Esta's to divest its 37 percent stake in Elnusa (ELSA.JK) attracted several bidders, including state energy firm Pertamina, which has already has a 41 percent stake in Elnusa.
"Tri Daya Esta will immediately continue to complete the negotiation with Northstar-Saratoga consortium, which has been stated as preferred bidder," PT Bahana Securities said a statement late on Thursday.
Officials from Northstar or Saratoga were not immediately available for comment.
Bahana said the consortium was chosen because it offered a credible business plan and the best offer price, but did not elaborate.
The transaction is expected to be completed within eight to ten weeks.
Elnusa's shares fell 4.9 percent to 385 rupiah as of 0809 GMT, compared to a 0.23 percent fall in the broader market .JKSE. From Reuters, 11th June 2009
Indonesia pension fund may raise equities' exposure
JAKARTA - Indonesia's state pension fund, PT Jamsostek, may increase its exposure to domestic equities because of better market conditions, but only to a limited extent as risks remain, a director said on Thursday.
The fund, which had about 64.4 trillion rupiah ($6.41 billion) of funds under management as of March, saw a 2 trillion rupiah rise in the value of investments in the first quarter.
The fund is targeting to grow its assets to 72.4 trillion rupiah this year, up about 18 percent from 2008.
"We will review our investment plan after the first half. But even if we decided to raise it (exposure to equities), it would probably only be up to about 17.5 percent," investment director Elvyn G Masasya told reporters.
"We need to sustain our investment gains," Masasya added, noting an initial plan to have 50 percent of its total portfolio in bonds, 30 percent in time deposits and 15 percent in equities. The remaining 5 percent is invested in other assets.
The unlisted firm achieved an unrealised gain of 520 billion rupiah ($51.73 million) as of May in its equity portfolio, helped by bullish market sentiment in the last few months, Masasya said.
The net value of Jamsostek's equity portfolio fell about 2.7 trillion rupiah last year, when the Jakarta's benchmark index .JKSE lost about half its value on the global financial crisis.
Masasya said he expected Jamsostek's total assets to rise 6.85 trillion rupiah this year.
The benchmark Jakarta composite index has climbed about 56 percent so far this year, helped by a resilient economic performance and as investors choose a higher risk exposure. From Reuters 11th June 2009.
The fund, which had about 64.4 trillion rupiah ($6.41 billion) of funds under management as of March, saw a 2 trillion rupiah rise in the value of investments in the first quarter.
The fund is targeting to grow its assets to 72.4 trillion rupiah this year, up about 18 percent from 2008.
"We will review our investment plan after the first half. But even if we decided to raise it (exposure to equities), it would probably only be up to about 17.5 percent," investment director Elvyn G Masasya told reporters.
"We need to sustain our investment gains," Masasya added, noting an initial plan to have 50 percent of its total portfolio in bonds, 30 percent in time deposits and 15 percent in equities. The remaining 5 percent is invested in other assets.
The unlisted firm achieved an unrealised gain of 520 billion rupiah ($51.73 million) as of May in its equity portfolio, helped by bullish market sentiment in the last few months, Masasya said.
The net value of Jamsostek's equity portfolio fell about 2.7 trillion rupiah last year, when the Jakarta's benchmark index .JKSE lost about half its value on the global financial crisis.
Masasya said he expected Jamsostek's total assets to rise 6.85 trillion rupiah this year.
The benchmark Jakarta composite index has climbed about 56 percent so far this year, helped by a resilient economic performance and as investors choose a higher risk exposure. From Reuters 11th June 2009.
Tuesday, June 9, 2009
15th Largest Listed Palm Planters
KUALA LUMPUR, June 9 (Reuters) - Following are the 15
largest listed palm planters, ranked by market value. They are
mostly located in Indonesia and Malaysia, the top two producers
of the vegetable oil.
Total plantation holdings are in hectares and include both
cultivated and uncultivated land as well as joint ventures with
Indonesian smallholders.
Company Mkt Cap* Short & Long Landbank
(US$ mln) Term debt# ($ ln) (Hectares)
1 Wilmar (WLIL.SI) 20,814.2 # 4,929.9 500,000
2 Sime Darby (SIME.KL) 11,994.8 # 1,638.0 524,626
3 IOI Corp (IOIB.KL) 8,323.2 # 1,639.0 251,000
4 KL Kepong (KLKK.KL) 3,617.6 # 580.0 360,000
5 Golden Agri (GAGR.SI) 3,302.8 557.0 637,361
6 Astra Agro (AALI.JK) 2,906.4 -nil- 258,900
7 Indofood (IFAR.SI) 1,362.6 650.1 541,224
8 Asiatic Dev (ASIA.KL) 1,206.8 7.9 164,000
9 London Sumatra (LSIP.JK) 864.3 73.4 169,909
10 Boustead (BOUS.KL) 804.0 1,035.0 100,000
11 United (UTPS.KL) 765.1 -nil- 80,874
12 Kulim Bhd (KULM.KL) 576.0 459.1 124,660
13 IJM Plantations (IJMP.KL) 502.6 10.0 70,000
14 Sampoerna Agro (SGRO.JK) 334.8 21.7 169,000
15 Bakrie Sumatera (UNSP.JK) 303.6 156.4 80,000
* Market capitalisation as of June 5, 2009
# Short and long-term debt as of March 31, 2009 except Bakrie
Sumatera, which is as of September 30, 2008
- Wilmar and Asiatic did not provide specific landbank numbers
and said their landbanks were above the figures mentioned
(Sources: Company websites, Thomson Reuters data)
largest listed palm planters, ranked by market value. They are
mostly located in Indonesia and Malaysia, the top two producers
of the vegetable oil.
Total plantation holdings are in hectares and include both
cultivated and uncultivated land as well as joint ventures with
Indonesian smallholders.
Company Mkt Cap* Short & Long Landbank
(US$ mln) Term debt# ($ ln) (Hectares)
1 Wilmar (WLIL.SI) 20,814.2 # 4,929.9 500,000
2 Sime Darby (SIME.KL) 11,994.8 # 1,638.0 524,626
3 IOI Corp (IOIB.KL) 8,323.2 # 1,639.0 251,000
4 KL Kepong (KLKK.KL) 3,617.6 # 580.0 360,000
5 Golden Agri (GAGR.SI) 3,302.8 557.0 637,361
6 Astra Agro (AALI.JK) 2,906.4 -nil- 258,900
7 Indofood (IFAR.SI) 1,362.6 650.1 541,224
8 Asiatic Dev (ASIA.KL) 1,206.8 7.9 164,000
9 London Sumatra (LSIP.JK) 864.3 73.4 169,909
10 Boustead (BOUS.KL) 804.0 1,035.0 100,000
11 United (UTPS.KL) 765.1 -nil- 80,874
12 Kulim Bhd (KULM.KL) 576.0 459.1 124,660
13 IJM Plantations (IJMP.KL) 502.6 10.0 70,000
14 Sampoerna Agro (SGRO.JK) 334.8 21.7 169,000
15 Bakrie Sumatera (UNSP.JK) 303.6 156.4 80,000
* Market capitalisation as of June 5, 2009
# Short and long-term debt as of March 31, 2009 except Bakrie
Sumatera, which is as of September 30, 2008
- Wilmar and Asiatic did not provide specific landbank numbers
and said their landbanks were above the figures mentioned
(Sources: Company websites, Thomson Reuters data)
Thursday, June 4, 2009
INDONESIA'S BANK PERMATA TO ISSUE BONDS VALUED AT US$200 MLN
Thu. June 04, 2009; Posted: 04:39 AM
JAKARTA, Jun 04, 2009 - Indonesia's 10th largest bank in terms of assets, PT Bank Permata (JSX:BNLI), has been given the go ahead by one of its largest shareholders to issue subordinated bond valued up to US$200 million.
Bank Permata needs funds to increase its capital adequacy ratio, says Gunawan Geniusahardja, an executive of Astra International (JSX:ASII), a shareholder of the bank.
Bank Permata is jointly owned by Astra and Standard Chartered Bank, each holding a 40.5 per cent stake with investing public holding the rest.
Gunawan said Bank Permata, which had a CAR of 11 per cent by March, plans to issue the subordinated bond to be offered only to two shareholders, this year.
JAKARTA, Jun 04, 2009 - Indonesia's 10th largest bank in terms of assets, PT Bank Permata (JSX:BNLI), has been given the go ahead by one of its largest shareholders to issue subordinated bond valued up to US$200 million.
Bank Permata needs funds to increase its capital adequacy ratio, says Gunawan Geniusahardja, an executive of Astra International (JSX:ASII), a shareholder of the bank.
Bank Permata is jointly owned by Astra and Standard Chartered Bank, each holding a 40.5 per cent stake with investing public holding the rest.
Gunawan said Bank Permata, which had a CAR of 11 per cent by March, plans to issue the subordinated bond to be offered only to two shareholders, this year.
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