Bahana help Pertamina to review IPO plans

PT Pertamina, Indonesian Oil company, named PT Bahana Securities to review sybsidiary plans to sell shares. The company is targeting its review on initial public offering (IPO) plan will be completed in firts half 2012.

The company is preparing two subsidiaries namely PT Pertamina Gas (Pertagas) or PT Pertamina Drilling Services Indonesia can conduct IPO this year.

Bumi Resources plans to pay debt to CIC

PT Bumi Resources Tbk, Indonesian biggest coal mining company, this year plans to repay its debt to China Investment Corporation (CIC) worth US$1.3 billion. The debt is divided into two parts, tranche II of US$600 million and tranche III of US$700 million.

The company owned by PT Bakrie & Brothers Tbk previously plannned for debt repayment of tranche II this year, and tranche III in October next year.

Bumi Resources secured total loans from the CIC of US$1.9 billion, of which the maturity is divided into three parts, namely the tranche I of US$600 million over four years, then US$600 million over five years, and US$700 million over 6 years .

The company said it is reviewing to sell shares of a subsidiary company of PT Bumi Resources Minerals Tbk to pay tranche II to CIC.

Paramount prepare IDR2.4 trilion for build 10 project

Developer of Paramount Serpong township, Paramount Group prepares IDR2.4 trillion this year to develop 10 projects, which is not include housing, to boost recurring income.

The company will not only develop the 10 projects inside the Paramount Serpong township in Tangerang but also in Malang and Magelang, 

Paramount plans to build STKIP Surya campus along with its dormitory, two apartments, and 4 hotels in Serpong. As for Jakarta, the company plans to build Paramount City superblock. The first phase development of Paramount City superblock in Slipi Jakarta will cost the largest fund of IDR1.2 trillion. It will begin the construction at the end of July 2013 on a 5 hectare land area.

In the initial phase, Paramount Group will build three hotels (2-star, 3-star, and 4-star hotel) and convention center with capacity of 3,200 people, followed by apartment with 4 towers and 37 floors and office buildings.

The company prepares IDR290 billion to build two towers apartment, IDR180 billion for Aston Paramount Residences, IDR145 billion for Neo Apartel (Apartment-Hotel), IDR145 billion for two Fave Hotels, and IDR215 billion for STKIP Surya campus and dormitory.

Such massive construction of hotel and apartment is part of the company’s strategies to boost recurring income.

Paramount Group just finished conducting the groundbreaking for Aston Paramount Hotel as high as 9 floors in Malang or the highest in the city. It invests IDR125 billion for the project.  In Magelang, Hotel Aston Magelang just reached the topping off phase this month. It costs IDR100 billion and targeted to complete in November this year.

Kartini Mulyadi Family raise IDR2.1 trilion from share sale

Kartini Mulyadi family raise IDR2.1 trilion used the upsize option for its secondary offering PT Tempo Scan Pacific Tbk, pharmaceutical producer and distributor. 

The family throughout PT Bogamulia Nagadi offered 500 million shares at the base deal size, with an option to increase this by 175 shares, and ended up increasing this by a further 125 million shares. 

Around 80% shares of the shares were allocated to long-only institutions, with around 30 quality names in the book. HSBC was sole global coordinator and book runner. The deal priced at IDR2,650 per share, the top of the IDR2,500-IDR2,650.