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Good morning,
Indonesia’s
investment board targets IDR795trn direct investment in 2018
Indonesia’s
Investment Coordination Board (BKPM) has set a target of IDR795trn in 2018,
up by 17.2% from this year’s target of IDR678.8trn. From that amount,
domestic direct investment accounts for 37.6% while foreign direct investment
accounts for 62.4%. Singapore, China, Japan, South Korea, Taiwan, and
Malaysia are the countries expected to significantly contribute to
Indonesia’s FDI figure in 2018. In 2016, Singapore is the country with the
highest amount of direct investment in Indonesia with USD9.2bn. (Investor
Daily)
Waskita Karya injects IDR525bn
into Waskita Toll Road
Waskita
Karya (WSKT IJ, BUY, TP: IDR4,000) has injected IDR525bn into its toll road
subsidiary, Waskita Toll Road to acquire 38.97% shares of Kresna Kusuma
Dyandra. With the acquisition, Waskita Toll Road will own 98.87% shares in
total of Kresna Kusuma Dyandra.The capital injection has an interest rate of
13.5% per year, higher than the loans facility with other parties. Since
Waskita Toll Road was established in 2014, the company has injected at least
IDR4.56trn into its infrastructure unit. (Bisnis Indonesia)
Adhi
Karya eyeing IDR1.5trn from Meikarta project
Adhi
Karya (ADHI IJ, Neutral, TP: IDR2,100) targets new contract worth IDR1.5trn
from Meikarta, the property project to be built by Lippo Group. As a private
construction projects, the company looks to secure the payment structure and
hope the construction will begin in 2017. As of May 2017, the company
recorded new contracts worth IDR5.3trn, or 23% of the new IDR21trn target
throughout 2017. The contracts were still dominated by the construction
business with 92.3%. (Bisnis Indonesia)
Soechi Lines delays USD300mn bonds issuance
Soechi Lines (SOCI IJ, BUY, TP: IDR650) has
delayed the issuance of its USD300mn global bonddue to an unfavorable market
condition. Initially, the bond was going to be offered by 13 June 2017. (Bisnis
Indonesia)
J Resources to develop two gold mines in
North Sulawesi
J Resources Asia Pasifik (PSAB IJ, NR)
plans to develop two gold mining sites in Pani and Doup, both in North
Sulawesiwith respective cost of c.USD100mn and c.USD200mn. In April 2017, the
company obtained approval from its shareholders to issue 20.13bn shares with
the aim of generating USD300mn for the development of the mines. (Jakarta
Post)
Tiphone Mobile Indonesia announces
IDR117.2bn dividends
Tiphone
Mobile Indonesia (TELE IJ, NR) announces IDR117.2 bn in dividends, or 25% of
FY 16 net income. In per share terms, the dividend is equivalent to IDR16 per
share. The company also gained approval from its shareholders to restructure
its loans. It has a long-term loan worth IDR2.5trn maturing in 2018, and TELE
is looking to lengthen the term of the loan in order to gain lower rate on
the loan. (Kontan)
Link to daily
report: Indonesia Morning Cuppa 190617
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Our
Recent Publication:
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Economics Update: BI Continues To Hold Key
Policy Rate In June
Link to report: BI
Continues To Hold Key Policy Rate In June
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Economics Update: Exports And Imports Accelerate In
May
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Sector Update: Coal Mining – China To Cut
Coal Production Capacity
Link to report: China
To Cut Coal Production Capacity
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Company Update: Ramayana Lestari – June Is
a Key Month For Sales
Link to report: Ramayana
Lestari : June Is a Key Month For Sales
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Company Update: Indofood Sukses
Makmur - Subsidiary Buys
Land From Anthony Salim
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Company Update: Bekasi Fajar – Raising Target On a Brighter Outlook
Link to report: Bekasi
Fajar : Raising Target On a Brighter Outlook
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Company Update: Bank Tabungan Negara – Growing Further Through The Housing
Market
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Strategy: Moving Upwards
Link to report: Indonesia
Strategy: Moving Upwards
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Company Update: Indocement Tunggal
Prakarsa –
Competition
Likely To Get Tougher
Link to report: Indocement
Tunggal Prakarsa : Competition Likely To Get Tougher
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Sector Update: Coal Mining – The Sun To Start Shining
Link to report: The
Sun To Start Shining
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Best regards,
Helmy Kristanto
Director
Head of Indonesia Research
PT RHB Sekuritas Indonesia
DID: (6221) 2970 7056
Fax: (6221) 2783 0777
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