JAKARTA, May 29, 2009
A consortium of Indonesian banks led by Bank Rakyat Indonesia (BRI) (JSX:BBRI) has pledged a loan of US$328 million for state electricity company PLN.
The loan fund will be used to finance the construction of coal-fired power plants in Pangkalan Susu North Sumatra and in Tarahan in South Lampung, PLN vice president Rudiantara said.
The two projects are part of PLN's crash program to build coal-fired power plants with a total capacity of 10,000 megawatts to be completed next year, the newspaper Bisnis Indonesia said.
The Pangkala Susu plant will have a capacity of 400 MW to be built by a consortium of Chuan Dong China, PT Bagus Karya Jakarta and PT Nicek Bandung at a cost of US$270 million.
The one in Tarahan will have a capacity of 200 MW to be built by Jiangxi Electric Power Overseas Engineering from China and PT Adhi Karya to cost around US$154.27 million and Rp595.1 billion.
Saturday, May 30, 2009
Tuesday, May 5, 2009
INTERVIEW-Indonesia lender BTN eyes IPO, good bond demand
* Up to 30 pct stake sale via IPO in Q4 or early next year
* IPO may raise around 2 trln rupiah ($191 million) * To use IPO proceeds to strengthen capital
* Sees healthy demand for $142 million bond on offer
NUSA DUA, Indonesia -
Indonesia's state-owned home lender PT Bank Tabungan Negara expects to sell up to a 30 percent stake, worth around $191 million, late this year or in early 2010, to strengthen its capital, an executive said on Monday.
An IPO had been put in doubt after the stock market fell sharply late last year, but recent share gains, spurred by better-than-expected company earnings, have made it attractive for the state to sell shares in BTN, one of the country's top-10 banks by assets, said Evi Firmansyah, vice president director.
Firmansyah said the loan market for landed houses was strong, in line with some sectors in the economy that remain resilient due to large domestic demand.
Central Bank Governor Boediono told Reuters on Sunday that boosting demand in the large domestic market would be key to a quick recovery in Southeast Asia's biggest economy. His comments came ahead of a policy meeting on Tuesday.
BTN is a leading home lender in Indonesia, with a particularly strong presence in the loan market for first time home buyers from the low and middle income segments.
The unlisted lender had outstanding loans of 30.8 trillion rupiah at end-2008, 97 percent of which are mortgage loans. It posted 2008 net profit of 430.5 billion rupiah, up 7 percent.
"We have submitted the names of the proposed underwriters to the government," Firmansyah told Reuters on the sidelines of the annual meeting of the Asian Development Bank in Bali.
"We expect it in the fourth quarter, if that's not possible then it would be in the first quarter of 2010." he said, referring to the IPO.
He declined to name the proposed underwriters.
"There will be up to a 30 percent stake for sale during the IPO," he said. "All the proceeds from the sale of the new shares will go to the bank to strengthen its capital."
Firmansyah said the move would give BTN more room to boost lending. The bank has said it aims to increase lending by 14 percent this year. "It's very crucial now to increase capital. This is also in order to allow for credit expansion," he said.
BTN has said it expected to boost lending by 14 percent this year.
Firmansyah said he expected healthy demand for BTN's 1.5 trillion rupiah ($142 million) bond issue currently being offered to investors, due to expectations of falling interest rates.
The central bank cut its key interest rate by 25 basis points to 7.5 percent last month, bringing total cuts to 200 bps since December to support economic growth.
BTN planned to price the bond issue to yield 150-250 bps above comparable government bonds, one underwriter said in April. Marciano Herman, head of investment banking at PT Danareksa Sekuritas, has said the yield would be decided at the end of the book building on May 26.
Danareksa, PT Mandiri Sekuritas and PT Trimegah Securities have been appointed underwriters. ($1=10,590 rupiah). From Reuters.
* Up to 30 pct stake sale via IPO in Q4 or early next year
* IPO may raise around 2 trln rupiah ($191 million) * To use IPO proceeds to strengthen capital
* Sees healthy demand for $142 million bond on offer
NUSA DUA, Indonesia -
Indonesia's state-owned home lender PT Bank Tabungan Negara expects to sell up to a 30 percent stake, worth around $191 million, late this year or in early 2010, to strengthen its capital, an executive said on Monday.
An IPO had been put in doubt after the stock market fell sharply late last year, but recent share gains, spurred by better-than-expected company earnings, have made it attractive for the state to sell shares in BTN, one of the country's top-10 banks by assets, said Evi Firmansyah, vice president director.
Firmansyah said the loan market for landed houses was strong, in line with some sectors in the economy that remain resilient due to large domestic demand.
Central Bank Governor Boediono told Reuters on Sunday that boosting demand in the large domestic market would be key to a quick recovery in Southeast Asia's biggest economy. His comments came ahead of a policy meeting on Tuesday.
BTN is a leading home lender in Indonesia, with a particularly strong presence in the loan market for first time home buyers from the low and middle income segments.
The unlisted lender had outstanding loans of 30.8 trillion rupiah at end-2008, 97 percent of which are mortgage loans. It posted 2008 net profit of 430.5 billion rupiah, up 7 percent.
"We have submitted the names of the proposed underwriters to the government," Firmansyah told Reuters on the sidelines of the annual meeting of the Asian Development Bank in Bali.
"We expect it in the fourth quarter, if that's not possible then it would be in the first quarter of 2010." he said, referring to the IPO.
He declined to name the proposed underwriters.
"There will be up to a 30 percent stake for sale during the IPO," he said. "All the proceeds from the sale of the new shares will go to the bank to strengthen its capital."
Firmansyah said the move would give BTN more room to boost lending. The bank has said it aims to increase lending by 14 percent this year. "It's very crucial now to increase capital. This is also in order to allow for credit expansion," he said.
BTN has said it expected to boost lending by 14 percent this year.
Firmansyah said he expected healthy demand for BTN's 1.5 trillion rupiah ($142 million) bond issue currently being offered to investors, due to expectations of falling interest rates.
The central bank cut its key interest rate by 25 basis points to 7.5 percent last month, bringing total cuts to 200 bps since December to support economic growth.
BTN planned to price the bond issue to yield 150-250 bps above comparable government bonds, one underwriter said in April. Marciano Herman, head of investment banking at PT Danareksa Sekuritas, has said the yield would be decided at the end of the book building on May 26.
Danareksa, PT Mandiri Sekuritas and PT Trimegah Securities
Friday, April 10, 2009
BANK RAKYAT INDONESIA TO ROLL OUT 4,000 NEW ATMS
JAKARTA, Apr 08, 2009 - Publicly traded bank, PT Bank Rakyat Indonesia (BRI) (JSX:BBRI) said it will have 4,000 new units of automatic teller machines (ATM) this year.
With the additional units the state bank will have 6,700 units of ATM or the largest owned by a bank in the country, the bank Operation Director Sarwono Sudarto said.
BRI, which recorded the largest net profit last year, also plans to build 1,500 new branch offices bringing the total number of its branches to 7,000 by the end of this year, Sudarto said.
He said the country's third largest bank by assets has an ambition to become the largest lender in the country with international standard service and quality.
With the additional units the state bank will have 6,700 units of ATM or the largest owned by a bank in the country, the bank Operation Director Sarwono Sudarto said.
BRI, which recorded the largest net profit last year, also plans to build 1,500 new branch offices bringing the total number of its branches to 7,000 by the end of this year, Sudarto said.
He said the country's third largest bank by assets has an ambition to become the largest lender in the country with international standard service and quality.
Friday, April 3, 2009
Bank Negara Indonesia to lend another US$25.6 mln to shipbuilder
JAKARTA-
PT BANK NEGARA INDONESIA (BNI) has agreed to provide additional loan of US$ 25.6 million for state shipbuilding company PT PAL INDONESIA.
PT PAL will use the fund to build four tankers on orders from Turkey and Italy, Gatot Murdianto Suwondo, the president of the state bank , which already provided a loan of US$ 83 million earlier for PT PAL.
Gatot said the two state companies have reached an agreement that BNI will finance projects to be built by PT PAL. April 02, 2009.
PT BANK NEGARA INDONESIA (BNI) has agreed to provide additional loan of US$ 25.6 million for state shipbuilding company PT PAL INDONESIA.
PT PAL will use the fund to build four tankers on orders from Turkey and Italy, Gatot Murdianto Suwondo, the president of the state bank , which already provided a loan of US$ 83 million earlier for PT PAL.
Gatot said the two state companies have reached an agreement that BNI will finance projects to be built by PT PAL. April 02, 2009.
Rp 5 Trillion for Steam Power Plants
Jakarta-
The Regional Development Bank formed a consortium to help loan Rp5 trillion for 16 steam power plants in Indonesia. The consortium includes 22 regional development banks and PT Bank Rakyat Indonesia.
Head of the association of regional development banks, Winny E. Hasan, said the power plant project is guaranteed by the government so it is secure.
“Lead managers of the consortium include Bank DKI in partnership with Bank Papua, Bank Jatim, Bank Kaltim, and Bank Sulsel,” said Winny yesterday.
She said that the Regional Development Bank has been giving loans for infrastructure projects like electricity and potable water facilities. Thursday, 02 April, 2009 Powered by Tempo Interaktive
The Regional Development Bank formed a consortium to help loan Rp5 trillion for 16 steam power plants in Indonesia. The consortium includes 22 regional development banks and PT Bank Rakyat Indonesia.
Head of the association of regional development banks, Winny E. Hasan, said the power plant project is guaranteed by the government so it is secure.
“Lead managers of the consortium include Bank DKI in partnership with Bank Papua, Bank Jatim, Bank Kaltim, and Bank Sulsel,” said Winny yesterday.
She said that the Regional Development Bank has been giving loans for infrastructure projects like electricity and potable water facilities. Thursday, 02 April, 2009 Powered by Tempo Interaktive
Bank Syariah Mandiri posts strong growth in net profit
Jakarta –
Indonesian Islamic bank PT Bank Syariah Mandiri (BSM) reported a 70.12 per cent surge in net profit to Rp194.42 billion (US$17.6 million) last year from Rp115.45 billion in the previous year.
BSM management said a strong growth in financing was the main contributor to the rise in net profit last year. Its outstanding financing rose 28.59 per cent to Rp13.28 trillion from Rp10.33 trillion, the bank said in a statement yesterday.
Significant growth was also recorded in its fee-based income rising to Rp300.99 billion from Rp209.96 billion.
Indonesian Islamic bank PT Bank Syariah Mandiri (BSM) reported a 70.12 per cent surge in net profit to Rp194.42 billion (US$17.6 million) last year from Rp115.45 billion in the previous year.
BSM management said a strong growth in financing was the main contributor to the rise in net profit last year. Its outstanding financing rose 28.59 per cent to Rp13.28 trillion from Rp10.33 trillion, the bank said in a statement yesterday.
Significant growth was also recorded in its fee-based income rising to Rp300.99 billion from Rp209.96 billion.
Wednesday, April 1, 2009
Indonesian third-largest bank BRI profit up by 23 pct in 2008
JAKARTA -
Indonesia's state-owned Bank Rakyat Indonesia or BRI net profit rose by 23 percent to 5.96 trillion rupiah (some 512.56 million U.S. dollars) last year compared with the year 2007, the bank said on Tuesday in its report. "Amid the global financial routs, the bank still shows its best performance," Director for Operation of the bank Sarwono Sudarto said here.
Banks in Indonesia have been expected to cut lending rate following the rate cut by 50 basis points to 7.75 percent recently to boost economic growth. March 31, 2009
Indonesia's state-owned Bank Rakyat Indonesia or BRI net profit rose by 23 percent to 5.96 trillion rupiah (some 512.56 million U.S. dollars) last year compared with the year 2007, the bank said on Tuesday in its report. "Amid the global financial routs, the bank still shows its best performance," Director for Operation of the bank Sarwono Sudarto said here.
Banks in Indonesia have been expected to cut lending rate following the rate cut by 50 basis points to 7.75 percent recently to boost economic growth. March 31, 2009
Subscribe to:
Posts (Atom)
