Kategori: Consumer Goods

PT Nippon Indosari Corpindo, Tbk (ROTI IJ), bread producer with strong distribution channels in the modern trade and traditional markets, signed a partnership with Caffebene, to distribute its products in 576 Caffebene outlets in South Korea. Nippon Indosari will supply a variety of cake and pastry with Caffebene brand in an outlet-outlet Caffebene started December.

PT Central Proteina Prima, Tbk (CPRO IJ), an aquaculture feed and food processing company, would convert its bonds worth USD185.78mn into stocks. According to this corporate action, company will increased its capital through private placement, offering as much as 19.10 billion new shares or equivalent to 32.07% from company’s issued and fully.

Bonlight Investment Limited, one of the major shareholders of PT Nippon Indosari Corpindo, Tbk (ROTI IJ), sold its shares to the issuer in negotiations market. Shares crossing reached 789 million, with stock’s average price at level IDR1,235 per share and total value worth IDR1trn. Previously, Bonlight few times sell off its stock ownership on Nippon.

PT Multi Bintang Indonesia, Tbk (MLBI IJ) through PT Tirta Prima Indonesia, reported its non-alcoholic drinks sales worth IDR175.29bn during 1H2017, or slightly lower than same period 2016 worth IDR197.81bn. Tirta Prima’s non-alcoholic contributed 11.6% of Multi Bintang’s total net sales worth IDR1,509trn in.

PT Sido Muncul, Tbk (SIDO IJ), is the largest herbal medicine producer in Indonesia, will buy assets of Nyonya Meneer worth IDR21.9bn. Sido will buy the assets such as: the land and building,through an auction on September 26, 2017. For the record, Nyonya Meneer’s land is located beside Sido’s.

PT Kimia Farma, Tbk (KAEF IJ) is issuing medium term notes (MTN) worth IDR1trn, which has permitted from the Ministry of SOEs (State Own Enterprise). MTN’s coupon at level 8.1%, and AA- rating received by PT Pemeringkat Efek Indonesia (Pefindo). For the record, the company will used the proceed to fund its expansion as well.

PT Martina Berto, Tbk (MBTO IJ), a herbal and cosmetic company, domestic sales IDR297.61bn in 1H2017, lower than same period last year IDR310.47bn. The domestic sales, amidst the weakening domestic market’s power purchase. For the record, domestic market giving the largest contribution to the total company’s total.

Mayora Indah, Tbk (MYOR IJ) set its Shelf Registered Bond I Tranche I worth IDR500bn coupon at 9.25%. The company also set its bond issuance in just one serie (5y). The net proceeds will be used for working capital and to pay off its maturing sukuk mudharabah II year 2012 worth of IDR250bn this year..

Salim Group’s issuer, including Indomobil Finance Indonesia (the subsidiary of Indomobil Sukses Internasional, Tbk (IMAS IJ)), will release bonds to raise funds. Indomobil Finance will release Continuous Bond II Indomobil Finance Indonesia with fixed interest rate Phase IV Year 2017 with a principal value of IDR400bn. This issuance is part of Bond II Indomobil Finance.

Despite a weakened IDR and DOC price capping headwinds, Malindo deserves attention at this juncture. This is due to: 1. Its attractive valuation – it is currently trading at 10-9x FY16F-17F P/E, close to -2SD from its 5 years mean of 15x; 2. 4Q16 to be another strong quarter – average broiler and DOC prices.