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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.

Bank Syariah Mandiri (BSM) is reviewing to issue Subordinate Sukuk worth IDR500Bn in 1H16. The proceeds will be used to refinance the maturing sukuk worth IDR 500 bn next year. Besides, PT Bank BNI Syariah Tbk (BNIS:IJ) is also planning to release another sukuk after successfully issuing sukuk mudharabah worth IDR 500 bn in April.

Pemeringkat Efek Indonesia (Pefindo) has affirmed PT Bank Pembangunan Daerah Jawa Barat & Banten Tbk or Bank BJB (BJBR:IJ) ratings at ‘idAA-‘ with its outlook was revised to stable from negative. The similar rating also affirmed for its outstanding bond VII/2011. The outlook upgrade is driven by the sustainable recovery in Bank BJB’s asset quality..

On rating front, Pemeringkat Efek Indonesia (Pefindo) lowered PT Medco Energi Internasional, Tbk (MEDC:IJ) to idA+/stable (from idAA-/negative) along with its Shelf Registered Bond I 2012-2013, USD bond I 2011-2012 and Bond III/2012. Downgrade was driven by continued weak crude prices which resulted a weaker revenue and profitability. In 1H2015, the company realized lower revenue.

Several expansions and new contracts secured made by ABM Investama, Tbk (ABMM IJ) back in 2012, however the net earnings figure for FY12 is way below what we expected. This is mainly caused by the unexciting coal mining outlook which has dragged down margins for its mining contracting and coal mining business, putting severe pressure.

Wintermar Offshore Marine, Tbk (WINS IJ) 9M12 net profit reached USD14m (+29.4% y-o-y) mainly derived from higher owned-vessel revenue proportion of 56% in 9M12 which is higher compared to 44% contribution in 9M11. We have not translated our financial model into USD currency yet, however we believe the 9M12 results is relatively in line with.

As per conversation with the company, Wintermar Offshore Marine, Tbk (WINS IJ) 2011 bottom line will be slightly below the company’s initial target of around IDR140bn mainly caused by hefty USD loan obtained at an unfavourable exchange rate of USD/IDR8,500, whereas current exchange rate is at the USD/IDR9,183 level causing an expense numb of forex.

Wintermar Offshore Marine, Tbk (WINS IJ) booked an impressive 1Q11 net profit amounted to IDR44bn (+143.2% y-o-y; accounts 31% to our FY11 forecast) driven by fleet expansion and third party chartering. This translates to a net profit margin of 19.7% in 1Q11 from 17.6% in 1Q10. WINS’ vessel expansion remains on track along with its.