The Insider Stories Market Briefs

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JAKARTA (TheInsiderStories) – The followings are some market news, compiled by our team and Mandiri Sekuritas that may affect market trading today:

*Indonesia Stock Exchange has included PT Delta Dunia Makmur Tbk (DOID, Rp404) in a category of unusual trading activity ( UMA) following sharp swings of its shares price.

*PT Alam Sutera Realty Tbk (ASRI, Rp446, NEUTRAL, TP 350) intends to issue bonds denominated in US dollars to repay bonds worth US $ 225 million maturing in 2019. The plan issuance of bonds maturing in 2022 was rated B2 by the rating agency Moody’s Investors Service. The bond issuance will be done by ASRI through its subsidiary Natural Synergy Pte Ltd. The company has appointed JP Morgan and UBS in order to offer debt securities denominated in US dollars (global bond). The series deals debentures will take place from Oct. 13.

*PT Evergreen Invesco Ltd (GREN, 185) is planning to raise its capital via rights issue. The company plans to issue a maximum of Rp 200 billion new shares. Previously, GREN only intends to issue a maximum of 150 billion new shares and the estimated funds (gross) to be raised is around of Rp30 trillion.

*PT Bumi Teknokultura Unggul Tbk (BTEK, Rp835) plans to conduct a stock split with a ratio of 1: 5. The company, which engages in the business of timber, ornamental plants, and the plants, will also offer shares with rights issue worth of 4.8 billion shares at an offer price of Rp1,000 per share so that fresh funds to be raised would reach Rp 4.8 trillion.

*PT Cita Mineral Investindo Tbk (CITA, Rp940) provides corporate guarantee for a credit facility to be obtained by its subsidiary, PT Well Harvest Winning Alumina Refinery (WHW). The loan value reached US$455 million. This credit facility obtained through a syndicate of banks, which include Bank of China Limited, Jakarta Branch, Bank of China Limited-Singapore Branch, DBS Bank Limited, Indonesian Exports Financing Agency, Oversea-Chinese Banking Corporation Limited, and PT Bank OCBC NISP Tbk (NISP, Rp1.700).

*The movement of crude oil prices tracked lower in trading on Oct. 13, following a statement by OPEC that production had risen to its highest level in at least eight years. According to traders, as reported by Reuters, the oil market has been depressed after the organization of oil exporting countries (OPEC) reported a rise in production, although oil producers planned cutback in production to withstand a global oversupply.

*PT Tiphone Mobile Indonesia Tbk (TELE, Rp635, BUY, TP Rp1.040) issue bonds worth a total of Rp 700 billion. The Company issued bonds with a principal value of Rp700 billion.

*PT Bank Rakyat Indonesia Tbk (BBRI, Rp11.975, NEUTRAL, TP Rp11,300) plans to reduce its stake in its subsidiary, PT Bank Rakyat Indonesia Tbk Agroniaga (AGRO) to 76% from the current 87.23% through rights issue.

*PT Jasa Marga Tbk (JSMR, Rp4.610, NEUTRAL, TP Rp.5,300) and PT Waskita Karya Tbk (WSKT, Rp2.670, BUY, TP Rp3,200) ranks first in the evaluation of bid documents on two toll roads to be built, namely Jakarta-Cikampek elevated and Krian-Legundi-Manyar toll road.

*PT Hanjaya Mandala Sampoerna Tbk (HMSP, Rp4.020, NEUTRAL, TP Rp3,750) is building an integrated production system that will consolidate its supply chain system of tobacco farmers directly to the company. This system aims to improve the productivity and income of farmers.

*Industrial information and communication technology (ICT) in Indonesia in the last 5 years grew 9.98% -10.7% per year, almost double the national growth rate of 4.79% -6.56%. Starting in 2019, the domestic ICT industry is projected to grow at over 11% per year. (*)

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Source: The Insiderstories
The Insider Stories Market Briefs

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