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Matahari Acquires Matahari + Ramayana US$2.4 Billion
Matahari Department Stores (LPPF) will soon launch an acquisition of 51% shares of PT Matahari Putra Prima (MPPA) Tbk for US$1.2 billion, a premium of 100% on the last quoted price. Shareholders of LPPF also agree to pay US$1.2 billion for 51% shares in Ramayana Lestari Sentosa (RALS), also a premium 100%. ,Last Updated ( Sat, 18 May 2013)
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| Argo Manunggal: Squeezing ASRI Too Much Too Soon
Alam Sutera Realty (ASRI) is now valued higher (Rp21.2 trillion) than Summarecon Agung, about the same with Ciputra Development, more than twice of Agung Podomoro Land. Bekasi Fajar Industrial Estate (BEST) is just inches below Agung Podomoro. Combined market cap of ASRI and BEST is Rp30 trillion. Argo Manunggal Group decides to seize the opportunity to squeeze more from creditors... (Sat, 18 May 2013)
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| Bank Nationalnobu: Lippo's Cashier?
Bank Nationalnobu (NOBU) will kick off trading of its shares on Indonesia Stock Exchange (IDX) Monday, May 20. The bank, which had total assets of Rp1.2 trillion as of December 2012, starts the trading with market capitalization of Rp1.54 trillion. This is the first bank in the country valued more than its total assets. Most profitable banks like BRI and BCA are valued way below their total assets. (Sat, 18 May 2013)
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| • Solusi Tunas & The Race to Control Telkom Group Towers | ICT | Solusi Tunas Pratama (SUPR), telecommunication tower provider, jumped 19.53% Friday (May 17) to become a company with market capitalization of slightly above US$600 million following the company's intention to acquire towers from Telkom Group. This makes the race to control Telkom Group's towers more interesting to watch. | |
| • Unilever & Consumer Stocks | Stock Market | Unilever Indonesia (UNVR) surged 11% to become the fifth largest company on Indonesia Stock Exchange (IDX) by market capitalization today. Unilever Indonesia, a company with equity of Rp5.4 trillion, is now valued 44 times equity. It is now bigger than Bank Mandiri (BRI) and Bank Rakyat Indonesia, two of the largest banks in Indonesia. | |
| • MNC Group: Action & Performance | Company Profile | PT Bhakti Investama (BHIT) Tbk advanced 5.66% Friday with over 207 million shares exchanged hands as the company, controlled by Harry Tanoesoedibjo, completed the issuance of US$365 million Senior Notes due 2018. Global Mediacom (BMTR) and MNC Sky Vision, two of companies under MNC Group, interestingly reported not too shiny performance in the first quarter. | |
| • Coal Journal No. 37/2013 | Coal | Bargain hunting lifted shares of coal producers listed on Indonesia Stock Exchange (IDX) Friday (May 17) as there is no sign of recovery in coal prices. Harum Energy (HRUM) led with 15.7% gain, followed by Bukit Asam (+8.7%). Adaro, Indika Energy, and Indo Tambangraya also gained substantially. | |
| • Corporate Results & Actions | Stock Market | MNC Sky Vision (MSKY), parent of pay TV Indovision, reported weaker than expected performance in the first quarter of 2013. While revenues grew 30% to Rp696 billion, the company's gross profit rose by 7.7% only. Operating profit even dropped to Rp124 billion. | |
| • Laguna Cipta Griya & Rights Issue | Property | Property developer PT Laguna Cipta Griya (LCGP) Tbk once planned to leave property business, moving to oil and gas industry. Looks like the oil and gas business plan didn't work well, so the company decided to become an integrated property developer with apartment, hotel, convention center, and office as main units. | |
| • Harry Tanoe: Stocks & Politics | Stock Market | He just joined Hanura Party three months ago, but party founder General (ret) Wiranto already trusted Harry Tanoe as 2014 election campaign leader. As part of the party’s efforts to boost popularity, Hanura issued populist statements, including rejecting fuel price hike and abolition of economy class of train services. | |
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