Kategori: Finance

Adira Dinamika Multifinance, TBk (ADMF:IJ) will offer 2nd tranche of its for Shelf Registered Bond III 2015 worth IDR 1.44 trillion. The bond is part of Shelf Registered Bond III program worth IDR 8 trillion, whereas first tranche of the bond worth IDR 979 billion has been issued at end of June. In the second.

Indonesia credit market transaction in last week trading touched IDR3,6 trillion, mostly short tenured (1-3 year) with a volume reaching IDR3,1 trillion or 86% of total market transaction last week. Looking at trading frequency, short tenured bonds (1-3 year) received higher trading frequency of 244x as compared to 35x and 15x in medium (5-7 year).

Bank ICB Bumiputera (BABP IJ, NR) will issue 8.05 billion new shares through rights issue (59.5%) with ratio of 15 old : 22 new. The rights issue price is set at IDR100/share that will translate to IDR805bn of fresh fund from the corporate action that may be executed on 2 July 2014. Besides that, BABP.

The recent political development inside PDIP which led to the speculation that the party will endorse Jokowi as a presidential candidate is premature, in our view. But we believe Jokowi nomination will lower political uncertainties and positive for the financial markets. November 13 trade data also showed that fundamental economy of Indonesia is improving. Large.

While we are still cautious on Indonesia’s short-term equity market outlook owing to economic and political uncertainties, we are of the view that its long-term fundamentals are intact. We foresee 2014 GDP growth dipping to 5.4% while Bank Indonesia (BI) may have to raise the BI rate to 7.75-8.25%. As short-term macroeconomic fundamentals are weak,.

BBRI’s investments in the micro business ensures sustainability of its micro lending market share, growth and asset quality. An enlarged network, growing e-banking and emphasis on deposits should protect BBRI’s funding profile. The earnings risks are rising credit cost and NIMs. BBRI is our Top Pick as its share price correction has driven its multiples.

Bank Permata’s key strengths are its two main shareholders, Standard Chartered Bank (SCB) and Astra International, Tbk (ASII IJ). Both have a joint ownership of 89.12% in Bank Permata, Tbk (BNLI IJ). SCB is a British multinational bank operating in over 70 countries and has a credit rating of A+ by S&P. Whereas, Astra is.

PT Surya Artha Nusantara Finance (the Company) was established with the name of PT Sangga Loka Subur on August 25, 1983. The Company obtained a license to operate as a financing company from the Minister of Finance of Republic of Indonesia based on its Decision Letter No.1660/KMK.013/1990 dated December 31, 1990, with license in leasing.

Earlier in our IIMS report, we already stated that we like the Agya and Ayla twins upon seeing it in the International Motor Show. We positively view Astra’s bold move to introduce the cars even though government hasn’t finalizing the LCGC incentive. The exterior is appealing and the interior is spacey with a very affordable.

Since Bank Mandiri (BMRI) took 51% ownership of Mandiri Tunas Finance (MTF) from Tunas Ridean (TURI) in 2009, MTF’s outstanding consumer receivables have almost tripled to IDR8.2trn at end-2011 from UDR2.9trn as at end-2009. However, the loans growth did not translate into higher net income due to rising provisions and contraction in margin. The good.