Refinancing Fulfill Indosat’s Maturing Bonds Worth IDR 554 Billion
Indosat, Tbk (ISAT IJ) current ratio at 0.44 times, or be under level 1 time, indicated the company’s current asset isn’t quite fulfill its current liabilities. For the record, the company have bonds maturing worth IDR 554 billion by next June. These bonds are bonds series A 370-day tenors with interest of 8.55% per year, which is part of the shelf registration bond.
Read More...Aeon Mall Increase Thrust Puradelta Lestari’s Land Price
Aeon Shopping Center Mall starting in 2017 will complete the means of Puradelta Letari, Tbk (DMAS) commercial industrial area. The mall’s presence coulden courage the increase in the price of land in industrial zones, the previous post of the company has been selling land 2 ha to PT Aeon Mall Sinarmas Land in September 2013. For the record, the vast area reaching Deltamas 3,050 ha, with landbank that is ready for sale reached 1,200 ha. In addition, large factories such as the Mitsubishi factory and SAIC GM Wuling, will operate in the area of Greenland International Industrial Centre (GIIC) of Kota.
Read More...Bonds Worth IDR 600 Billion Fulfill Intiland’s Debt
PT. Intiland Development, Tbk (DILD), a property issuers have bonds and the bank debt each valued at IDR 346 billion IDR 230 billion, are due in 2016. On the other hand, the company has submitted of bonds issuance plans at worth IDR 600 billion to the financial services authority (OJK), and is currently still waiting for effective statement. Through his efforts, its subsidiary’s Perkasa Lestari Permai (PLP), have debts totaling IDR 250 billion in PT Bank Mayapada International, Tbk (MAYA) in October 2015 and will be due in October this year. While bonds maturing worth IDR 346 billion of bonds, series A, was issued in July 2013. Surya.
Read More...Adhesive Tape Company’s Capital Expenditures Worth IDR 50 Billion
PT Ekadharma International, Tbk (EKAD) increase its capital expenditures worth between IDR 40 billion to IDR 50 billion. The Capex will add production capacity reached 192 million m2 per year for the expansion of two factories in Indonesia and Malaysia, the previous capacity of 305 million m2 per year. The company’s production capacity expansion, to meet the domestic demand as well as internationally. For the record, Ekadharma International’s consolidated net sales and profit includes worth at Rp 531 billion and Rp 47 billion respectively in 2015. Whereas the period of 1Q2016, each valued at Rp 138.6 billion and Rp 24.8 billion. Selamat Sempurna Acquire.
Read More...Tower Bersama Running Out Of Gas
We reinitiate coverage on Tower Bersama with a NEUTRAL call and a TP of IDR6,450 (2% downside from current price). In our view, the intensifying competition, consolidation in telcos, and slowdown in capex for BTS – will have a negative impact to Tower Bersama’s future lease rate and new tenancies. Despite, there is an opportunity.
Read More...Telecommunications Infrastructure Test Of The Fittest
We reinitiate coverage on the Indonesia Towerco sector with a NEUTRAL call premised on: i) the structural and operational headwinds impacting the sector in the longer term, ii) the still relatively attractive/superior EBITDA margin of the ITCs, iii) potential for opportunistic M&As, iv) and the valuation discount that the ITCs trade at when stacked against.
Read More...Pelindo I Offering 4 Series Bonds Worth IDR1Trn
PT Pelabuhan Indonesia I (Pelindo) is currently offering IDR1trn bonds consisting of four series; Series A (3y priced at indicative 8.25%-9%); Series B (5y; coupon 9-9.5%); Series C (7y; coupon 9.25%-10%); and Series D (10y; coupon 9.5%-10.25%). Current bond offering is the IDR bonds issued by Pelindo I. As the company engage in infrastructure sector, .
Read More...Link Net All Hands On Deck
We maintain our BUY call on Link Net with an unchanged DCF-based IDR5,500 TP (30% upside) Our TP implies 7.4x FY16F EV/EBITDA, which is attractive given its 5-year EV/EBITDA CAGR of 13%. We also like its focus on driving net subs and overall penetration in the firm’s existing cities. In 2Q16, ARPU is expected to.
Read More...Three Issuers Listed IDR4.15Trn Bonds; Waskita Prices 3y Bond at 9%-10%
Three bonds issuers had their bonds listed in the Indonesia Stock Exchange (IDX) this week they are; OCBC NISP (AAA/Stable), Bima Multifinance (BBB/Stable) issued 3 bonds series each and the regular issuer Astra Sedaya Finance (ASDF rated AAA/stable) released 2 new series. Total issuances size from those three companies reached IDR4.15trn and bringing YTD issuance.
Read More...Surya Citra Media Recovery Is Underway
We expect Surya Citra’s 2Q16 performance to remain decent due to the Lebaran festival, which should help prop up SCTV’s poor prime time audience share. Moving forward, we anticipate SCTV’s audience share to improve driven by the broadcasting of Indonesian Super League since end-Apr 2016. We maintain our NEUTRAL call and IDR3,300 TP (2% upside).
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