Fitch Rating Indonesia upgraded national rating on Bank Tabungan Pensiunan Nasional Tbk (BTPN) to AAA(idn) from AA+(idn) with a stable outlook. The upgrade was driven by its parent’s strong credit profile, Sumitomo Mitsui Banking Corporation (SMBC) which its rating also upgraded to ‘A’ from ‘A-‘ last year. The rating upgrade on BTPN indicates strong tendency.
Read More...PT Holcim Indonesia (SMCB IJ, Not Rated) will distribute interim dividend of IDR260.5bn or IDR34/share (1.2% yield). The dividend will be paid in October 2014 with cum date set on 19 September. Currently, the company is adding 1.7m tonnes of production capacity to the current Tuban mill #2. The additional capacity is targeted to start.
Read More...SMGR reported robust FY13 sales while its market share rose to 43.9% in Dec 2013 vs Dec 2012’s 40.9%. However, FY14F earnings growth may be slower than originally estimated due to higher electricity costs. As we foresee a time lag between the increasing input cost and a hike in its selling prices, we cut our.
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