Shares of Bank Rakyat Indonesia (BRI), one of the leading commercial banks in Indonesia, have fallen around 21 percent so far in 2018. Considering the recent capital outflows from Indonesia amid the high degree of uncertainty in global financial markets, it makes sense that shares of BRI are hit hard. After all, it is one of the blue chip stocks that is likened by foreign investors. However, a rumor - that says BRI wants to acquire a stake in Bank Muamalat Indonesia - may add pressures on BRI shares.

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In line with the progress in the light rail transit (LRT) project, Indonesian construction company Adhi Karya has used the majority of funds that were assembled through the company's rights issue. Based on a report released by the state-controlled company, it has already used IDR 2.4 trillion (approx. USD $179 million) - or about 88 percent of rights issue proceeds. The rights issue took place on 22 September 2015.

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There are various listed companies on the Indonesia Stock Exchange that are planning to conduct a rights issue in the second half of 2017 in an effort to generate new funds for business expansion. Samsul Hidayat, Director of Corporate Listing at the Indonesia Stock Exchange, added that some companies are planning the rights issue in order to comply with the minimum 7.5 percent free float regulation.

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Siloam International Hospitals, Indonesia's largest private hospital operator, received the green light from shareholders to conduct a rights issue. Through the rights issue the company will issue 325.2 million brand new shares, equivalent to 25 percent of its enlarged share capital. Siloam aims to obtain IDR 3.09 trillion (approx. USD $232 million) worth of fresh funds through the corporate move.

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Indonesian coal miner Bumi Resources plans to conduct a rights issue in June 2017 through which it aims to raise IDR 26.9 trillion (approx. USD $2.0 billion). Bumi Resources will sell 29.1 billion shares, equivalent to 79.5 percent of the company's enlarged capital. Proceeds from this corporate move go to the debt restructuring program. Bumi Resources wants to pay off its debt to the China Investment Corporation (CIC) as well as eight other creditors. Bumi Resources has some USD $4.2 billion worth of commercial debts (excluding intercompany loans).

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The Indonesia Stock Exchange (IDX) targets to see a total of 35 initial public offerings (IPOs) in 2017. To achieve this target the IDX will raise efforts to encourage Indonesian companies to go public. Besides these IPOs, the IDX also targets to see 60 companies to conduct a rights issue next year. These targets were announced by IDX Director Tito Sulistio after the extraordinary general meeting on Thursday (20/10). So far in 2016, only 12 companies went public in Indonesia. This poor score is the result of high uncertainty on the global financial markets.

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Pembangunan Jaya Ancol, an Indonesian company that is engaged in the development of real estate and consulting services for the planning and development of tourist and hospitality sites, received the green light from its majority stakeholder - the local Jakarta administration - to conduct a rights issue. The company is primarily known for managing Taman Impian Jaya Ancol, an integrated recreation and resort complex in North Jakarta. This complex is Jakarta's number one tourist destination, attracting nearly 17 million visitors on an annual basis.

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Hari perdagangan terakhir tahun 2015 di Bursa Efek Indonesia (BEI) telah berlalu dan sekarang saatnya untuk melihat kembali kinerja Indeks Harga Saham Gabungan (IHSG) dan rupiah selama tahun 2015. Tahun 2015 merupakan tahun yang hektik, ditandai dengan volatilitas tinggi karena ketidakpastian tentang waktu kenaikan tingkat suku bunga AS (yang akhirnya diputuskan oleh Federal Reserve pada bulan Desember 2015) dan perlambatan ekonomi Republik Rakyat Tiongkok (RRT).

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The Indonesia Stock Exchange (IDX) will give time until 31 January 2016 for the remaining 18 publicly-listed companies that have not yet complied with the new minimum free float requirement that aims to increase liquidity in the stock market. In January 2014, the IDX announced it designed a new rule that forces all listed companies on the IDX to have a minimum free float of 7.5 percent. Samsul Hidayat, Director of Corporate Listing at the IDX, said these 18 companies are currently studying whether to conduct a rights issue or a stock split in order to raise their free float.

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Produsen rokok terbesar Indonesia, Hanjaya Mandala Sampoerna (HM Sampoerna), menyempitkan cakupan harga untuk rights issue 4-to-65 dari cakupan Rp 63.000 - Rp 77.000 ke cakupan baru pada Rp 65.000 - Rp 77.000 per saham. HM Sampoerna, unit lokal dari perusahaan raksasa tembakau global Phillip Morris International Inc., menargetkan untuk meraup 1,4 miliar dollar Amerika Serikat (AS) melalui penawaran 269,7 juta saham. Menurut laporan, perusahaan ini akan menerima pesanan dari para investor institusi dan ritel mulai dari hari Senin (21/09).

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Over the past couple of weeks shares of Indonesia's largest bread products producer Nippon Indosari Corpindo have been recovering modestly after a severe plunge that occurred between mid-May and early July this year. On Monday (11/09) shares of the company were up 0.40 percent to IDR 1,250 a piece. So far this year, however, its shares have slid nearly 22 percent.

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Wijaya Karya Beton is one of Indonesia's leading precast concrete producers. The company, which is a subsidiary of state-controlled construction company Wijaya Karya (Wika), manufactures a product line that includes pre-stressed concrete piles, bridge girder products, pipes, railway, and sleepers. After a bleak 2015 Wika Beton is expected to post rising net profit and revenue in the years ahead supported by a capital injection into its parent company.

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Fundraising in Indonesia's capital markets touched a multi-year low in the first quarter of 2016. Based on data from Bloomberg, only IDR 142.1 billion (approx. USD $10.8 million) was raised through rights issues and initial public offerings (IPOs) on the Indonesia Stock Exchange in Q1-2016, the lowest figure in the past seven years. Analysts expect fundraising in the capital markets of Indonesia to improve from the second quarter of 2016 onward due to expected accelerating economic growth and Bank Indonesia's lower interest rate environment.

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The plan of Indonesian palm oil producer Astra Agro Lestari to raise IDR 4 trillion (approx. USD $305 million) through a (preemptive) rights issue by issuing 450 million new shares has caused great volatility in the performance of the company's shares listed on the Indonesia Stock Exchange (IDX). On 11 April the rights issue plan will be discussed at an extraordinary general meeting and if approved the rights issue will be conducted within 12 months. The company decided to seek this corporate action in order to pay off debt.

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New funds obtained from a rights issue and the revaluation of its assets will have a positive impact on Aneka Tambang (Antam), a diversified mining company in Indonesia. The miner, majority-owned by the Indonesian government, is engaged in all activities ranging from exploration, exploitation, processing, refining to the marketing of nickel ore, ferronickel, gold, silver, bauxite, coal and precious metals refining services. However, its corporate earnings remained disappointing so far in 2015.

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Garuda Indonesia, the country's top-class airline, is planning to conduct a rights issue in the first quarter of 2014. Through this corporate action, which has already been approved by the shareholders, the state-controlled company aims to raise IDR 2 trillion (USD $162.6 million). For 2014, the airline plans to allocate IDR 4 trillion in capital expenditure (capex) for business expansion. About half of this amount should originate from funds generated through the rights issue.

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After it was reported that Garuda Indonesia, Indonesia's state-controlled national air carrier, postponed its rights issue, the company stated that it highly doubts an initial public offering (IPO) of its subsidiary Garuda Maintenance Facility (GMF) AeroAsia on the Indonesia Stock Exchange (IDX) in 2013. The reason for this postponement is current lingering uncertainty that plagues emerging markets, including Indonesia, since May 2013. Uncertainty about the future of the Federal Reserve's quantitative easing program led to a large outflow of foreign funds.

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Garuda Indonesia, one of the major airlines in Indonesia, has announced to conduct a rights issue in October 2013. Through the rights issue, which involves the issuance of 10 percent of new shares, Garuda aims to reap USD $200 million. Garuda was a fully state-owned company before its initial public offering (IPO) in early 2011 when it released 30 percent of its shares. However, Indonesia's House of Representatives (DPR) had approved total public offering up to 40 percent. The remaining 10 percent is now offered through the rights issuance.

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