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DBS Acquisition of Bank Permata. As well as, DBS Group, the largest bank in Singapore, seems to have begun to recalculation plans for corporate action by acquisitions. The Bank which is also listed as the largest in Southeast.

Jiwasraya Insurance Financial Crisis. Finally, Jiwasraya Insurance Management provides information regarding the current condition and the rescue scenario of the SOE insurance.

Bank Rakyat Indonesia, Tbk (BBRI IJ) will issue and offer the Bank BRI II Phase II Year 2017 Self Registration Bonds, with a total amount of IDR5.1trn and such bonds was registered into KSEI’s collective custody by Bank Rakyat Indonesia (Persero) Tbk for Public Offering. The bonds issued in four series: the A series worth.

With the recent initial soft-launching of the third OMNI Hospital, located in Cikarang area, it is on track to double its portfolio to four hospitals by mid-2017, from just two in 2015. The existing two OMNI hospitals in Pulomas and Alam Sutera are seeing the combined bed occupancy rate increase steadily to 69.1% in 1Q16..

We initiate coverage on Siloam with a NEUTRAL and a DCF-derived IDR13,000 TP (10% upside), implying 22x/17x FY16F/17F EV/EBITDA. Siloam is the largest private hospital operator by bed capacity and, with Lippo Karawaci’s support and a planned non pre-emptive rights issue, it can easily further outgrow its IDX-listed peers. However, there is a potential delay.

We initiate coverage on Siloam with a NEUTRAL and a DCF-derived IDR13,000 TP (10% upside), implying 22x/17x FY16F/17F EV/EBITDA. Siloam is the largest private hospital operator by bed capacity and, with Lippo Karawaci’s support and a planned non pre-emptive rights issue, it can easily further outgrow its IDX-listed peers. However, there is a potential delay.

We initiate coverage on Mitra Keluarga (MIKA) with a DCF-derived TP of IDR3,150, implying a 67x/60x FY16/17F P/E and a 14% upside return; thus we assign it a BUY recommendation. MIKA is the best-in-class among community hospitals with the highest margins and strongest operating cash flow generation among Indonesian listed hospitals. We believe in its.

We initiate coverage on Indonesia’s hospital sector with an Overweight Despite Indonesia’s growing healthcare spending, its hospital sector is still largely underserved compared to its ASEAN peers. With the increasing middle income class and the push of the Indonesian Government for a universal healthcare coverage, the structural growth opportunity for Indonesia’s hospital sector is tremendous.

We initiate coverage on Sarana Meditama Metropolitan with a DCF-derived IDR3,300 TP (31% upside) which implies 56x/53x FY16F/17F P/Es and recommend BUY. It is a prominent hospital operator in Greater Jakarta with its two award-winning OMNI Hospitals in Pulomas and Alam Sutera and an expansion strategy in place for two greenfield 250-bed hospitals. It focuses.

Indonesia transportation sector has been impacted by the slowdown in the Indonesia economy and also fierce competition especially from Uber. However, given the under penetrated of Indonesia taxi industry, lack of investment in public transportation, lowest taxi tariffs compare to other countries, and expanding middle class; we believe an improvement in the long run. Furthermore,.