Indofood Sukses Makmur is reported to purchase 14.95 percent of the issuance of 98 million new shares of Singapore-listed Minzhong Food Corporation Limited (CMFC), a Chinese integrated vegetable processing company. CMFC will issue new shares for a price of SGD $0.915 per share, a 9.93 percent discount compared to the company's share value last Friday. Indofood's purchase is regarded to spur its business development and distribution network.

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For a long time, Astra International, one of Indonesia's largest diversified conglomerates and present in almost every sector of the country's economy, was the leading company regarding the highest market capitalization on the Indonesia Stock Exchange (IHSG). Now, however, Astra has been overtaken by HM Sampoerna, Indonesia's largest tobacco company that controls 30 percent of the Indonesian tobacco market and is majority-owned by Philip Morris.

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On Thursday's trading day, stocks of Bumi Resources gained 26.39 percent in value after the heads of terms agreement between Bumi Plc and the Bakrie Group was published in worldwide media on Wednesday. This agreement outlines the separation of the Bakrie Group (including Bumi Resources) from London-listed Bumi Plc after the Group had a fall out with Bumi Plc co-founder, Nathaniel Rothschild.

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Exports of Indonesian palm oil may drop to 1.51 million metric tonnes (MT) in February, a 5.6 percent decline from January. Importers prefer to buy the commodity in Malaysia where the government has put in place a duty free tariff on its palm oil exports in order to reduce large stockpiles. Indonesia, on the other hand, has a nine percent export duty as the government tries to gain more revenue out of its natural resources.

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