Gas Negara Rated at AAA; Agung Podomoro Land Lowered to A-
On the rating front, Pemeringkat Efek Indonesia (Pefindo) has awarded AAA/Stable for state owned company, Perusahaan Gas Negara Tbk (PGAS:IJ), driven by its important role for Indonesian government, strong position in domestic transmission and distribution gas business supported by widespread pipeline network in Java and Sumatera. Furthermore, the company’s strong liquidity and stable gas demand.
Read More...Media Nusantara Citra, It Is Time To Shine
We upgrade Media Nusantara to BUY (from Neutral) with an IDR2,150 TP (from IDR1,850, 31% upside) on the back of an expected recovery in the local economy in 1H16 an anticipated rate card improvement and lessened discount, given RCTI’s strong audience share. We believe the stock’s valuations are attractive enough, given potential FY16/FY17 earnings growth.
Read More...Surya Citra Media In a Sweet Spot
We maintain our BUY call on Surya Citra, with a higher IDR3,700 TP (from IDR3,300, 22% upside). We expect the industry to recover as a result of better FY16 consumption. In such an event, the company may have an advantage due to its strong audience share, which could lead to better rates. We also anticipate.
Read More...Strong Domination From RCTI
Media Nusantara was the top gainer in prime time audience share in Dec 2015 (+8% MoM), driven by a good performance of its RCTI station (+14% MoM) which could further lead to a potential improvement in rate card. Surya Citra’s audience share in prime time grew by 2% MoM mostly due to the performance of.
Read More...Indonesia Media, Do Not Miss The Train
We upgrade the media sector to OVERWEIGHT (from Neutral) on the economy’s potential recovery, driven by government support in boosting consumption. The media industry’s long-term growth outlook remains strong, as TV dominates the ad spend market. Meanwhile, online companies have helped improve the growth of media operators via aggressive ad spending on TV stations. We.
Read More...Bank Nagari Releases Bond as The Old One Come Due
Total maturing bonds in January amounted to IDR 1.1trn, of which IDR500bn is owned by Bank Nagari and the rest belong to Danareksa and Bima Multifinance. In the face of upcoming maturing bond, Bank Nagari is issuing IDR500bn bond and IDR100bn sukuk which will be listed in 11 January. The new issued bond will be.
Read More...Hanson International Rated at BBB and Bank Sinarmas at A
On the rating front, Pemeringkat Efek Indonesia (Pefindo) has assigned BBB/Stable on PT Hanson International Tbk (MYRX:IJ) driven by elevated financial leverage level, weak cash flow protection and execution project and concentrated risk. However the company has sizeable and strategically located land bank area for future development which could generate decent profitability margin. Elsewhere, Fitch.
Read More...Indonesia Corporate Bonds Issuances Touched IDR62.57Trn in 2015
Total Indonesia corporate bonds issuances reached IDR62.57Trn in full year 2015, higher by 33.5% than the last year issuance. There are 37 entities with a total of 116 series bonds issued this year. The biggest bond issuer is Indonesia Eximbank which released a total of IDR8Trn bond this year and followed by PT Telekomunikasi Indonesia.
Read More...Indonesia Sinar Mas Multifinance Assigned at A- (idn) by Fitch
Fitch Ratings Indonesia has assigned A- (idn) on PT Sinar Mas Multifinance (SMMF) for its National Long-Term Rating. The Outlook is Stable. Its outstanding IDR500bn unsecured bond maturing on 10 April 2018 was also assigned at ‘A-(idn). The ratings indicate its synergies with its shareholder Sinar Mas Multiartha Tbk (SMMA:IJ), due to small portion of Sinar.
Read More...Bank Capital Offer 12% of Subdebt Coupon
Bank Capital Indonesia, Tbk (BACA:IJ) will issue subordinate bond II worth of IDR 250 billion with 12% of coupon rate. The subdebt have 7 years of maturity and the proceed will be used for additional working capital, especially for loans disbursement as well as improving the asset and liability tenor. In addition, the subdebt issuance.
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