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Tunas Baru Lampung to sell Rp750 billion bonds

CPO producer PT Tunas Baru Lampung Tbk (TBLA) plans to sell Rp750 billion fixed rate bonds in July this year. In a prospectus published today, Tunas Baru’s 5-year bonds have been assigned idA by PT Pemeringkat Efek Indonesia.
The company also [...]

Budikwanto Kuesar steps down from Bukit Makmur

President Director Budikwanto Kuesar at PT Bukit Makmur Mandiri Utama (BUMA), a wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID), has stepped down from his position to pursue other interest. His step down will put into effect from May 31 [...]

Mitrabahtera subsidiary secures contract from Berau Coal

PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secured a 5 year contracts of coal transhipment service at Muara Pantai, East Kalimantan, from PT Berau Coal.Mitra Alam is responsible to [...]

Indika closes Multi Tambangjaya takeover

PT Indika Indonesia Resources, a subsidiary of PT Indika Energy Tbk (INDY), has closed a 85% stake takeover of coal company PT Multi Tambangjaya Utama (MTU) worth US$136 million.In an announcement filed to Indonesia Stock Exchange, the takeover deal [...]

Fitch Ratings upgrades Arpeni Ocean to CC

Fitch Ratings has upgraded PT Arpeni Pratama Ocean Line Tbk’s (APOL) Long-Term Foreign and Local Currency Issuer Default Ratings to CC from RD (Restricted Default), its USD senior unsecured notes rating to CC from C and its National Long-Term Rating [...]

Budikwanto Kuesar steps down from Bukit Makmur

President Director Budikwanto Kuesar at PT Bukit Makmur Mandiri Utama (BUMA), a wholly owned subsidiary of PT Delta Dunia Makmur Tbk (DOID), has stepped down from his position to pursue other interest. His step down will put into effect from May 31 [...]

Mitrabahtera subsidiary secures contract from Berau Coal

PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secured a 5 year contracts of coal transhipment service at Muara Pantai, East Kalimantan, from PT Berau Coal.

Mitra Alam is responsible [...]

Indika closes Multi Tambangjaya takeover

PT Indika Indonesia Resources, a subsidiary of PT Indika Energy Tbk (INDY), has closed a 85% stake takeover of coal company PT Multi Tambangjaya Utama (MTU) worth US$136 million.

In an announcement filed to Indonesia Stock Exchange, the takeover [...]

S&P puts Bakrie Plantations rating on credit watch

Standard & Poor’s Ratings Services (S&P) said today that it had placed its CCC+ long-term corporate credit rating on Indonesian plantation company Agri International Resources Pte. Ltd. on CreditWatch with negative implications.S&P also [...]

Kalbe Farma acquires Hale International at Rp100 billion

Pharmaceutical company PT Kalbe Farma Tbk (KLBF) has agreed to acquire PT Hale International with consideration price of Rp100 billion.Kalbe Farma entered into conditional sale and purchase agreement to takeover 100% stake in Hale International, a [...]

Visi Media secures US$10.80 million bank guaranteed facility

Media parent company controlled by Erick Thohir and Anindya Bakrie, PT Visi Media Asia Tbk (VIVA) has secured a US$10.80 million bank guaranteed facility on May 29 2012.

In an filing to Indonesia Stock Exchange yesterday, the issuance of bank [...]

Adaro buys majority stake in affiliated Bhakti Energi

PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 years (referred to below as Option One), to acquire a controlling interest  in an affiliated coal miner PT Bhakti Energi Persada [...]

S&P puts Bakrie Plantations rating on credit watch

Standard & Poor’s Ratings Services (S&P) said today that it had placed its CCC+ long-term corporate credit rating on Indonesian plantation company Agri International Resources Pte. Ltd. on CreditWatch with negative implications.

S&P [...]

Kalbe Farma acquires Hale International at Rp100 billion

Pharmaceutical company PT Kalbe Farma Tbk (KLBF) has agreed to acquire PT Hale International with consideration price of Rp100 billion.

Kalbe Farma entered into conditional sale and purchase agreement to takeover 100% stake in Hale International, [...]

Visi Media secures US$10.80 million bank guaranteed facility

Media parent company controlled by Erick Thohir and Anindya Bakrie, PT Visi Media Asia Tbk (VIVA) has secured a US$10.80 million bank guaranteed facility on May 29 2012.

In an filing to Indonesia Stock Exchange yesterday, the issuance of bank [...]

Adaro buys majority stake in affiliated Bhakti Energi

PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 years (referred to below as Option One), to acquire a controlling interest  in an affiliated coal miner PT Bhakti Energi Persada [...]

Moody’s withdraws Davomas Abadi rating

Moody’s Investors Service has withdrawn the Ca corporate family rating and outlook of PT Davomas Abadi Tbk (DAVO).
Moody’s has withdrawn the rating because it believes it has insufficient or otherwise inadequate information to support the [...]

Pefindo downgrades Bakrie Telecom bond to idBB

Rating agency PT Pemeringkat Efek Indonesia (Pefindo) lowered its ratings for PT Bakrie Telecom Tbk (BTEL) and its Bond I/2007 to idBB from idBBB-.

Pefindo still places the ratings on Credit Watch with Negative Implication. The rating action is [...]

Moody’s withdraws Davomas Abadi rating

Moody’s Investors Service has withdrawn the Ca corporate family rating and outlook of PT Davomas Abadi Tbk (DAVO).
Moody’s has withdrawn the rating because it believes it has insufficient or otherwise inadequate information to support the [...]

Moody’s withdraws Davomas Abadi rating

Moody’s Investors Service has withdrawn the Ca corporate family rating and outlook of PT Davomas Abadi Tbk (DAVO).
Moody’s has withdrawn the rating because it believes it has insufficient or otherwise inadequate information to support the [...]

Arpeni secures transhipment contract from Baruna Dirga

Shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 million metric tons from PT Baruna Dirga Dharma, a subsidiary of energy integrated company PT ABM Investama Tbk (ABMM).

The contract [...]

Arpeni secures transhipment contract from Baruna Dirga

Shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 million metric tons from PT Baruna Dirga Dharma, a subsidiary of energy integrated company PT ABM Investama Tbk (ABMM).

The contract [...]

Telkomsel President Director Sarwoto replaced

President Director Sarwoto Atmosutarno at PT Telekomunikasi Selular (Telkomsel) has been replaced by Alex Sinaga, Solo-born executive. Alex Sinaga will be officially replaced Sarwoto on May 16 2012.

Eddy Kurnia, Head of Corporate Communication [...]

Telkomsel President Director Sarwoto replaced

President Director Sarwoto Atmosutarno at PT Telekomunikasi Selular (Telkomsel) has been replaced by Alex Sinaga, Solo-born executive. Alex Sinaga will be officially replaced Sarwoto on May 16 2012.

Eddy Kurnia, Head of Corporate Communication [...]

Darma Henwa, Prove Energy & Corfield takeovers

Coal mining contractor PT Darma Henwa Tbk (DEWA), an affiliated of coal miner PT Bumi Resources Tbk (BUMI), were in frenzy acquisitions last year. However, the actions have raised questions, Prove Energy and Corfield Investments. Was it necessary [...]

Darma Henwa, Prove Energy & Corfield takeovers

Coal mining contractor PT Darma Henwa Tbk (DEWA), an affiliated of coal miner PT Bumi Resources Tbk (BUMI), were in frenzy acquisitions last year. However, the actions have raised questions, Prove Energy and Corfield Investments. Was it necessary [...]

Berau, KPC, Arutmin 1Q coal productions up 8.69%

Three coal miners that are controlled by Bumi Plc, PT Berau Coal, PT Kaltim Prima Coal, and PT Arutmin Indonesia mined 20 million tonnes of coal for the first quarter of 2012, a 8.69% increased from 18.4 million tonnes in Q1 2011.

Coal sales volume [...]

Berau, KPC, Arutmin 1Q coal productions up 8.69%

Three coal miners that are controlled by Bumi Plc, PT Berau Coal, PT Kaltim Prima Coal, and PT Arutmin Indonesia mined 20 million tonnes of coal for the first quarter of 2012, a 8.69% increased from 18.4 million tonnes in Q1 2011.

Coal sales volume [...]

Medco to issue US$450 million bonds

Oil and gas producer PT Medco Energi Internasional Tbk (MEDC), that is controlled by Panigoro family, aims to issue US$450 million bonds in several foreign currencies in a bid to fulfill working capital and refinance its debts.

Finance Director [...]

Stock recommendations today

The Dow ended in the red for the sixth day in a row on Wednesday as
traders fretted about the deteriorating situation in Spain, Greece and
other eurozone nations that are still in the grips of the debt crisis.

The Dow Jones Industrial Average, [...]

Medco to issue US$450 million bonds

Oil and gas producer PT Medco Energi Internasional Tbk (MEDC), that is controlled by Panigoro family, aims to issue US$450 million bonds in several foreign currencies in a bid to fulfill working capital and refinance its debts.

Finance Director [...]

Telkom bids for cable operator Pacnet US$1 billion

PT Telekomunikasi Indonesia Tbk (Telkom), the nation’s biggest telecom firm, has submitted a bid to buy Asia’s leading undersea cable operator Pacnet Ltd, in a deal that could value Pacnet at about US$1 billion including debt, sources said on [...]

S&P revises Gajah Tunggal outlook to positive

Standard & Poor’s Ratings Services (S&P) today revised its outlook on Indonesia-based tire manufacturer PT Gajah Tunggal Tbk (GJTL) to positive from stable. 

At the same time, S&P affirmed the B corporate credit rating on the [...]

Churcill Mining sends letter to President SBY

Churchill Mining plc advises that it has filed a further formal letter to his excellency the President of the Republic of Indonesia, seeking support and legal protection in order to achieve an amicable and commercial resolution to the company’s [...]

Telkom bids for cable operator Pacnet US$1 billion

PT Telekomunikasi Indonesia Tbk (Telkom), the nation’s biggest telecom firm, has submitted a bid to buy Asia’s leading undersea cable operator Pacnet Ltd, in a deal that could value Pacnet at about US$1 billion including debt, sources said on [...]

Visi Media 1Q posts Rp193 bio net profit

Parent media company PT Visi Media Asia Tbk (VIVA), that is controlled by Bakrie Group, today reported a Rp193.69 billion net profit in the first quarter of this year, a reversal from net loss of Rp3.51 billion a year ago.

In the financial [...]

Gozco 1Q CPO sales volume up 5%

CPO Producer PT Gozco Plantations Tbk (GZCO), controlled by Indonesian businessman Tjandra Mindharta Gozali, reported 9,500 tons of CPO sales volume in the first quarter of this year, a 5% increase from 9,000 tons a year earlier.

In the term of [...]

Stock recommendations today

The markets wobbled between positive and negative territory on Monday
following last week’s steep retreat as traders mulled developments in
Europe over the weekend.

As of 3:15 p.m. ET, the Dow Jones Industrial Average, as quoted by [...]

S&P revises Gajah Tunggal outlook to positive

Standard & Poor’s Ratings Services (S&P) today revised its outlook on Indonesia-based tire manufacturer PT Gajah Tunggal Tbk (GJTL) to positive from stable. 

At the same time, S&P affirmed the B corporate credit rating on the [...]

Visi Media 1Q posts Rp193 bio net profit

Parent media company PT Visi Media Asia Tbk (VIVA), that is controlled by Bakrie Group, today reported a Rp193.69 billion net profit in the first quarter of this year, a reversal from net loss of Rp3.51 billion a year ago.

In the financial [...]

Sarana Menara 1Q profit drops 50.29%

Telecommunication tower operator PT Sarana Menara Bersama Tbk (TOWR), affiliated of cigarette maker Djarum Group that is controlled by Hartono family, today reported a 50.29% drop in net profit for the first 3 months of this year as a result of [...]

Sarana Menara 1Q profit drops 50.29%

Telecommunication tower operator PT Sarana Menara Bersama Tbk (TOWR), affiliated of cigarette maker Djarum Group that is controlled by Hartono family, today reported a 50.29% drop in net profit for the first 3 months of this year as a result of [...]

Bakrie & Brothers posts Rp132 bio profit

PT Bakrie & Brothers Tbk (BNBR), a holding company of Bakrie family, today reported a Rp132 billion net profit last year. The company posted operating profit of Rp1.76 trillion last year from Rp4.01 trillion operating loss.

In a press [...]

Kartini Muljadi family to place Tempo Scan

PT Bogamulia Nagadi, that is controlled by Kartini Muljadi family, plans to hold a private placement of certain percentage on its stake in PT Tempo Scan Pacific Tbk (TSPC).

In an official announcement published today, the placement is aimed to [...]

Kartini Muljadi family to place Tempo Scan

PT Bogamulia Nagadi, that is controlled by Kartini Muljadi family, plans to hold a private placement of certain percentage on its stake in PT Tempo Scan Pacific Tbk (TSPC).

In an official announcement published today, the placement is aimed to [...]