Sunday, March 30, 2008
Maybank Offers Shares to Strategic Partners
Malayan Banking Bhd is going to offer US$1.1 billion's worth shares to several strategic partners to help raising US$2.7 billion fund required to acquire a 55.7% stake in PT Bank International Indonesia Tbk.
Tuesday, March 25, 2008
HSBC dropped out from BII tender
HSBC , Europe's biggest bank, dropped out of the race to buy a 42 percent stake in Bank Internasional Indonesia.
Singapore state investor Temasek moved closer to choosing a buyer who may have to pay over $1 billion.
The battle is now between Malayan Banking Bhd and Bank of China for Indonesia's sixth-biggest lender, while South Korea's Kookmin has also joined the race as a third bidder
Singapore state investor Temasek moved closer to choosing a buyer who may have to pay over $1 billion.
The battle is now between Malayan Banking Bhd and Bank of China for Indonesia's sixth-biggest lender, while South Korea's Kookmin has also joined the race as a third bidder
Limitless to Invest US$30 Million More in Bakrieland
An investor from Dubai, Limitless, has planned to increased its investment at Bakrieland Development by US$30 million from the initial plan of US$110 million.
The company will do that if Bakrieland gets approval from other shareholders like the Provincial Government of Jakarta for the existing projects like Festival Market, Klub Rasuna, and Youth Center of Soemantri Brodjonegoro.
The project will be on 8.8 million hectares of land in Rasuna Said of Kuningan, Jakarta.
Limitless is a unit of Dubai World. It has acquired 30% shares of Bakrieland's units like PT Bakrie Swasakti Utama, PT Superwish Perkasa, and PT Bumi Daya Makmur.
The company will do that if Bakrieland gets approval from other shareholders like the Provincial Government of Jakarta for the existing projects like Festival Market, Klub Rasuna, and Youth Center of Soemantri Brodjonegoro.
The project will be on 8.8 million hectares of land in Rasuna Said of Kuningan, Jakarta.
Limitless is a unit of Dubai World. It has acquired 30% shares of Bakrieland's units like PT Bakrie Swasakti Utama, PT Superwish Perkasa, and PT Bumi Daya Makmur.
XL to Get US$300 Million from Divestment and Rights Issue
PT Excelcomindo Pratama Tbk (XL) will get the fresh capital of US$200 million - US$300 million from divestment program and rights issue of up to 10%.
The company has assigned two book runners including JP Morgan Securities.
Other securities companies like Credit Suisse, Merrill Lynch, and UBS Securities also has been eying to sell XL.
The divestment and the rights issue is aimed at increasing the portion of public stocks. It will be conducted in the first half of the year.
As of February 29 2008 the other shareholders of XL are Khazanah Nasional Berhad (16.81%), Parkmix Ltd (15.97%), and Emirate Telecommunications Corporation (Etisalat, 15.97%). The public stocks are only 0.234%.
The share price closed at IDR1,930 yesterday, down from IDR1,975 last week. The market cap of XL was IDR13.68 trillion.
Last year the stock price has jumped to IDR2,700 as Etisalat of United Arab Emirates acquired all shares of Bella Sapphire Ventures Ltd at IDR3,600. Etisalat acquired 16% or 1.13 billion shares of XL at US$438 million.
The company has assigned two book runners including JP Morgan Securities.
Other securities companies like Credit Suisse, Merrill Lynch, and UBS Securities also has been eying to sell XL.
The divestment and the rights issue is aimed at increasing the portion of public stocks. It will be conducted in the first half of the year.
As of February 29 2008 the other shareholders of XL are Khazanah Nasional Berhad (16.81%), Parkmix Ltd (15.97%), and Emirate Telecommunications Corporation (Etisalat, 15.97%). The public stocks are only 0.234%.
The share price closed at IDR1,930 yesterday, down from IDR1,975 last week. The market cap of XL was IDR13.68 trillion.
Last year the stock price has jumped to IDR2,700 as Etisalat of United Arab Emirates acquired all shares of Bella Sapphire Ventures Ltd at IDR3,600. Etisalat acquired 16% or 1.13 billion shares of XL at US$438 million.
Monday, March 17, 2008
Good Bye AdamAir
Tycoon Hary Tanoesoedibjo-through PT Global Transport Services (GTS) and PT Bright Star Perkasa (BPS), subsidiaries and affiliates of PT Bhakti Investama Tbk-are going to withdraw his 50% stake in PT Adam SkyConnection Airlines (AdamAir).
Bhakti Investama, through GTS and BPS, acquired a 50% stake in AdamAir on April 12, 2007. GTS controls a 19% stake, while PT Bright Star Perkasa controls a 31% stake.
The airline should be tightly monitored by the Directorate General of Air Transportation after several serious incidents and accidents of the airplanes.
Bhakti Investama, through GTS and BPS, acquired a 50% stake in AdamAir on April 12, 2007. GTS controls a 19% stake, while PT Bright Star Perkasa controls a 31% stake.
The airline should be tightly monitored by the Directorate General of Air Transportation after several serious incidents and accidents of the airplanes.
Davomas Mulls to Sell US$100 Million Bonds
PT Davomas Abadi Tbk is mulling to sell convertible bonds of US$100 million to boost its production capacity. The company has assigned Lehman Brokers to prepare the plan.Davomas has focused to develop downstream industry on deodorized cocoa butter and alkalized cocoa powder at the capacity of 40,000 tons.
The two products are premium class ones that can be used to produced foods, cosmetics, and pharmaceutical products.
Davomas developed the facility using US$80 million bonds it sold last September. The bonds were sold by its unit Davomas International Finance Company Pte Ltd and will mature in 2011.
Previously it sold US$150 million bonds with the same terms and conditions.
On May last year Davomas sold US$125 million bonds at the interest rate of 11% following the sale of US$25 million in December 2006.
The two products are premium class ones that can be used to produced foods, cosmetics, and pharmaceutical products.
Davomas developed the facility using US$80 million bonds it sold last September. The bonds were sold by its unit Davomas International Finance Company Pte Ltd and will mature in 2011.
Previously it sold US$150 million bonds with the same terms and conditions.
On May last year Davomas sold US$125 million bonds at the interest rate of 11% following the sale of US$25 million in December 2006.
Thursday, March 13, 2008
One BNI Director Fails to Pass Fit and Proper Test by BI
One director of PT Bank Negara Indonesia Tbk (BNI) approved at the extraordinary shareholders general meeting (RUPSLB) held on February 6, 2008 fails to pass the fit and proper test held by the central bank (BI).
Monday, March 10, 2008
ANZ Bids BII at US$800 Million
Australia & New Zealand Banking Group Ltd has planned to buy PT Bank Internasional Indonesia Tbk (BII) US$ 800 million from Temasek Holding.
Apart from that Malayan Banking Bhd of Malaysia is also interested at BII.
The control of Maybank over BII will compete with Bumiputera Commerce holding over Bank Niaga and Lippo.
Through CIMB Group, Bumiputera controls 63.13% shares of Bank Niaga. Through Khazanah, Bumiputra controls 87.5% shares of Bank Lippo.
Temasek Holding has been controlling BII through Fullerton Financial Holdings Pte Ltd (FFH). FFH controls 55.85% shares of BII through the consortium of Sorak. Consortium Sorak consists of FFR (55%), Kookmin Bank (25%) and others.
Kookmin Bank of Korea is also interested in acquiring BII. Kookmin has got the first opportunity to take over the share as it has 25% shares of consortium that controls BII.
It means that there have been six investors - Maybank, ANZ, Industrial And Commercial Bank of China (ICBC), China Construction Bank (CCB), KookMin Bank and an investor from Dubai - that are interested in acquiring BII.
Apart from that Malayan Banking Bhd of Malaysia is also interested at BII.
The control of Maybank over BII will compete with Bumiputera Commerce holding over Bank Niaga and Lippo.
Through CIMB Group, Bumiputera controls 63.13% shares of Bank Niaga. Through Khazanah, Bumiputra controls 87.5% shares of Bank Lippo.
Temasek Holding has been controlling BII through Fullerton Financial Holdings Pte Ltd (FFH). FFH controls 55.85% shares of BII through the consortium of Sorak. Consortium Sorak consists of FFR (55%), Kookmin Bank (25%) and others.
Kookmin Bank of Korea is also interested in acquiring BII. Kookmin has got the first opportunity to take over the share as it has 25% shares of consortium that controls BII.
It means that there have been six investors - Maybank, ANZ, Industrial And Commercial Bank of China (ICBC), China Construction Bank (CCB), KookMin Bank and an investor from Dubai - that are interested in acquiring BII.
Thursday, March 6, 2008
Indonesia's Medco Group to Buy Stake in Natuna Gas Block
Medco Group says it is ready to buy from state-owned oil and gas company PT Pertamina more than a 10% stake in the giant gas block of Natuna D-Alpha, in Riau.
Pertamina has said this will open an opportunity for local companies to take part in the development of the block, believed to have one of the largest gas reserves in the word.
The block is estimated to have reserves of 46 trillion cubic feet of gas, but to have high carbon dioxide content of 70% that needs higher costs and technology. Pertamina said the project will cost up to US$52 billion.
Pertamina has said this will open an opportunity for local companies to take part in the development of the block, believed to have one of the largest gas reserves in the word.
The block is estimated to have reserves of 46 trillion cubic feet of gas, but to have high carbon dioxide content of 70% that needs higher costs and technology. Pertamina said the project will cost up to US$52 billion.
Mandiri Likely Fail to Acquire BII
The SOE Minister has signaled it will reject Bank Mandiri's plan to take over 55.85% shares of Bank Internasional Indonesia (BII).
In the meantime Bank Mandiri is of the opinion that the schedule determined by Temasek Holdings, the present controlling shareholder of BII, is too short.
Previously Bank Indonesia said that Industrial and Commercial Bank of China and China Construction Bank are interested in BII.
Last month Temasek decided to sell the shares of BII to comply with single presence policy of Bank Indonesia. Apart from BII, Temasek also has the controlling shares of PT Bank Danamon Indonesia.
In the meantime Bank Mandiri is of the opinion that the schedule determined by Temasek Holdings, the present controlling shareholder of BII, is too short.
Previously Bank Indonesia said that Industrial and Commercial Bank of China and China Construction Bank are interested in BII.
Last month Temasek decided to sell the shares of BII to comply with single presence policy of Bank Indonesia. Apart from BII, Temasek also has the controlling shares of PT Bank Danamon Indonesia.
Tuesday, March 4, 2008
Danamon picks 3 underwriter
PT Bank Danamon Tbk has assigned PT CIMB-GK Securities Indonesia, ING Bank, and PT Indo Premier Securities to underwrite its IDR1.5 trillion bonds.
Credit Suisse and Goldman Sachs Help Temasek
Temasek business group, through Fullerton Financial Holdings Pte Ltd (FFH), appoints Credit Suisse Singapore and Goldman Sachs Singapore to help the divestiture of BII.
Temasek Group plans to sell BII due to the central bank (BI) single presence policy, which will be applied in 2010. Fullerton controls a 68.09% stake in PT Bank Danamon Tbk through Asia Financial consortium. Fullerton also controls Sorak Financial Holdings Pte Ltd, which owns a 55.85% stake in BII.
Temasek Group plans to sell BII due to the central bank (BI) single presence policy, which will be applied in 2010. Fullerton controls a 68.09% stake in PT Bank Danamon Tbk through Asia Financial consortium. Fullerton also controls Sorak Financial Holdings Pte Ltd, which owns a 55.85% stake in BII.
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