Update COVID-19 in Indonesia: 927,380 confirmed infections, 26,590 deaths (19 January 2021)
19 January 2021 (closed)
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What were the important corporate news headlines from Indonesia on Friday 15 August 2014? Below Indonesia Investments presents the daily market roundup. This includes the following companies and topics: Indomarco Prismatama, Telekomunikasi Indonesia, Pan Brothers, Archipelago International, bonds auction, RPX Group, Mayora Indah, the Titab Dam project in Bali, Intiland Development, Agung Podomoro Land, Matahari Putra Prima, Berau Coal Energy, and Citra Marga Nusahpala Persada.
• Retailer Indomarco Prismatama, Indonesia’s largest mini-market operator (and a unit of Indoritel Makmur Internasional), plans to open 749 new outlets in Indonesia in the second half of 2014. In the first half the company had already opened 551 new outlets. The company’s total number of outlets, mostly located on Indonesia’s most densely populated island of Java, will exceed 10,000 by the year-end.
• The largest telecommunication firm of Indonesia, state-controlled Telekomunikasi Indonesia (Telkom), plans to invest USD $200 million in Silicon Valley start-ups. The company invited Fenox Venture Capital as its partner to search for potential start-ups.
• Pan Brothers, an Indonesian textile and garment maker, formed a joint venture in Vietnam to produce two million pieces of Adidas sportswear. The company is also planning to acquire a Chinese garment producer and wants to expand to Cambodia in 2015.
• Archipelago International, one of Indonesia’s leading hotel management groups, said it plans to expand its Hotel NEO portfolio with three new properties opening before the end of the year as well as 12 new properties in 2015.
• The Indonesian government will auction off government bonds (SUN) worth IDR 10 trillion (roughly USD $860 million) in total on Tuesday (19/08). This SUN auction is an effort to finance the 2014 state budget. Each bond will have a nominal value of IDR 1 million (USD $86). The government will issue five series of SUN: SPN12150611, SPN12150806, FR0068, FR0070 and FR0071.
• RPX Group, a local cargo service provider, will team up with local retail chain Indomaret to provide courier services throughout the Indomaret outlet chain in an attempt to boost the number of its individual customers (as opposed to corporate customers).
• Processed-foods producer Mayora Indah secured a one-year export contract (starting in October 2014) from Mexican processed-food company Galletas Juanita Mexico to further expand Mayora Indah’s exports to Mexico.
• Moody’s Investors Service downgraded the credit rating of Berau Coal Energy, due to a decline in thermal coal prices which has harmed the company’s earnings and cash flow, implying increased refinancing risks.
• The Titab Dam project in Bali will not be launched this year as scheduled because of land clearance issues. The dam project is now planned to start in early 2015. Land acquisition issues are a notorious problem and block many infrastructure projects in Indonesia.
• Indonesian property developer Intiland Development sets aside up to IDR 800 billion in capital expenditure (capex) in the second half of 2014 for property development in Jakarta and Surabaya.
• Agung Podomoro Land, an Indonesian property development company, posted lower marketing sales between January and July 2014 as growth in Indonesia’s property market continued to waver. The company booked IDR 2.59 trillion in marketing sales in the first seven months of the year, down 27 percent from the same period in 2013.
• Toll road construction company and operator Citra Marga Nusaphala Persada intends to engage in business expansion in the ASEAN region.
• Fast-moving consumer goods firm Matahari Putra Prima is optimistic that the company’s sales will grow 15-20 percent to IDR 11.9 trillion this year.