PP Properti seek Industrial Workers
PP Properti, Tbk (PPRO IJ) heavily build residential project in Cikarang, West Java with the aim market workers Jababeka industrial area. Subsidiary company of Perusahaan Pembangunan, Tbk (PTPP IJ) will manage the dwelling area of 4.6 Ha in Jababeka in 2017. PP Properti Financial Director, Indaryanto said, the development includes the construction of six residential.
Read More...One Upgrade; One Downgrade
On rating action, Fitch Rating Indonesia has upgraded BFI Finance Indonesia, Tbk’s (BFIN IJ) national rating to ‘AA-(idn)/Stable’ from ‘A+(idn)/Stable, underpinned by its sound financial performance and balance sheet amidst slowing economic activity. It is reflected by improved profitability and capitalization measures with the company’s ROE and ROA posted at 18.0% and 6.3% respectively, slightly.
Read More...Telkomsel’s Rating Affirmed Baa1; Bank Syariah Mandiri at idAA+
On the rating action, Moody’s has affirmed the Baa1/Stable rating for Telekomunikasi Selular (Telkomsel). The rating affirmation is based on the company’s established position in the wireless telecommunications operator with around 45% subscriber market share. The company’s rating is limited by the competitive nature of the operating environment, as well as the risk of indirect.
Read More...HK Offers IDR1Trn Bond Amidst New NBFI’s Regulation
The Otoritas Jasa Keuangan (OJK) eventually has released a revised regulation regarding minimum government bond investment for NBFI. OJK released POJK No 36 /POJK 05/2016 stating the inclusion of state owned infrastructure bonds as an alternative investment instrument for NBFI in order to meet minimum investment in government bond as mandated by POJK No1/POJK. 05/2016..
Read More...MNC Investama on Negative Outlook
Moody’s has confirmed the Caa1 rating of MNC Investama, Tbk (BHIT IJ) while its outlook was revised down to negative, underpinned by persistent level of refinancing risk present throughout the BHIT group over the next 18 months. As of 30 September, BHIT’s short-term and other current debt totaled IDR8.3trn, or around IDR 6.0trn pro forma.
Read More...AP I and SMI’s Final Coupon Rate Set Closer to Upper End of Guidance
Two AAA stated owned companies have set the final coupon rate on their new bonds where the rates were fixed closer to the upper end of its guidance. These two companies are Angkasa Pura I (idAAA/Sta) offering conventional and Islamic bonds worth IDR2.5 trn bonds and IDR500bn respectively and Sarana Multi Infrastruktur (SMI, idAAA/sta) offering.
Read More...Primary Market Remains Lighter This Week Amid Bearish Market
On the primary front, there are three new issuers offering bonds this week; i) Medco Energi, Tbk (MEDC IJ) (idA-/Neg) offering IDR750bn ii) Adira Dinamika Multifinance, Tbk (ADMF:IJ) (idAAA/Sta) targets IDR1trn issuance and iii) Chandra Asri Petrochemical, Tbk (TPIA:IJ, idA+/Sta) at IDR500bn. With these three bonds issuance, total corporate bonds this year will reach a.
Read More...S&P Upgraded Japfa Rating to B+/Stable
S&P Global Ratings raised its long-term corporate credit rating on Japfa Comfeed Indonesia, Tbk (JPFA IJ) to ‘B+’ from ‘B’ with stable outlook. The upgrade reflects Japfa’s initiatives to lengthen its debt maturity profile and better than expected operating and financial performances. The company’s EBITDA nearly reached IDR3trn in 9M16, almost 30% higher than whole.
Read More...Mutual Funds’ Net Buy Recorded at IDR21trn
Unlike government bond, demand for IDR denominated corporate bonds dominated by local investors. The biggest holders of local corporate bond is mutual fund with its ownership accounted for 25.6% of total outstanding. As of October 2016, mutual funds manages also recorded the biggest net buy this year as they added a total of IDR21 trillion.
Read More...Medco Energi Outlook Remains Negative; Asuransi Sinar Mas on Stable Outlook
On rating action, Pemeringkat Efek Indonesia (Pefindo) has maintained idA+ with negative outlook on Medco Energi Internasional, Tbk (MEDC IJ) amid its more aggressive capital structure following the acquisition of Newmont Nusa Tenggara (NTT). However, the acquisition is expected to positive affect the rating as the company may receive potentially higher cash flow from NTT..
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