Investment company Saratoga Investama Sedaya acquired a 5.8 percent stake (worth USD $5.16 million) in retailer Gilang Agung Persada.

Debt-ridden Bumi Resources, the largest coal producer in Indonesia, announced that it has secured approval from a group of bondholders to change the terms of its USD $375 million bonds as the company experience troubles due to falling shares and coal prices.

First Resources Ltd, which operates oil palm plantations and mills in Indonesia, said that second-quarter net profit plunged 31 percent (year-on-year) to USD $26 million. Net income in the first half of 2014 fell almost 30 percent to USD $71 million.

Tin sales from Indonesia, the world’s biggest tin producer, climbed 9 percent to 7,645.2 metric tons in July 2014, rebounding from the biggest drop in five months.

Nusantara Infrastructure, an Indonesian toll road and ports builder and operator plans to raise IDR 380 billion (about USD $32 million) through a rights issue by selling 10 percent of the company’s enlarged capital.

Indosat, the third-largest telecommunications operator in Indonesia (in terms of subscribers amount), will secure USD $450 million revolving credit facility with a tenure of less than five years from several banks.

Undisbursed loans in Indonesia grew 6.77 percent in May 2014 from the previous month due to domestic economic conditions and debtors’ wait and see attitude.

Property developer Intiland Development will start construction of the Spazio (office) Tower in Surabaya (East Java) in October 2014. This 20-floor tower requires IDR 400 billion worth of investment.

Semen Indonesia targets to secure a 10 percent market share in ASEAN in terms of cement sales (from 4 percent currently) in the next couple of years.

Dwi Aneka Jaya Kemasindo will add six machines to enhance production by about 25 percent. The new machines cost about 16 million euro.  

Apexindo Pratama Duta, through its subsidiary Ocean Peak Holding BV, plans to issue global bonds worth USD $200 million. The company will ask shareholder approval in a special shareholder meeting on 18 September 2014.

Japan-based Sumitomo Corporation and Indonesia’s Rekayasa Industri earned a contract to engineer, procure and construct two geothermal generation units at the Ulubelu Geothermal Power Station for Pertamina Geothermal Energy. Construction is expected to be completed by May 2017. It was also reported that state-owned oil and gas operator Pertamina has started development of nine geothermal projects.