Update COVID-19 in Indonesia: 1,542,516 confirmed infections, 41,977 deaths (6 April 2021)
14 April 2021 (closed)
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Jakarta Composite Index (6,050.28) +122.84 +2.07%
What is the most important corporate news from Indonesia on Monday 11 August 2014? Here we present the daily market roundup. This includes following companies: Unilever Indonesia, Nippon Steel & Sumitomo Metal Corp, Krakatau Steel, Bumi Resources, Humpuss Intermoda Transportasi, MNC Sky Vision, Kalbe Farma, Logindo Samudramakmur, Multi Bintang Beer, Sebuku Iron Lateritic Ores, the Sarulla Operation Limited consortium, Mandiri Tunas Finance, Bank Internasional Indonesia (BII), and the Kuala Namu-Tebing Tinggi Toll Road.
• Japan's Nippon Steel & Sumitomo Metal Corp announced that it has signed a definitive agreement with Indonesia's largest steelmaker Krakatau Steel to produce automotive flat steel in Indonesia through a joint venture.
• Unilever Indonesia (through affiliated Unilever Oleochemical) has disbursed IDR 850 billion for the construction of an oleochemical factory. Total investment for this factory will require IDR 2 trillion.
• Shares of Bumi Resources plunged 5.2 percent on Monday (11/08) after the company said that it is unable to settle in cash USD $375 million worth of convertible bonds due August on weak coal prices.
• Oil and gas transportation company Humpuss Intermoda Transportasi is seeking a USD $160 million loan to finance business expansion in 2014.
• MNC Sky Vision expects to record EBITDA of IDR 1.6 trillion by the end of 2014.
• Kalbe Farma, the largest pharmaceutical company in Indonesia, cut its 2014 sales growth target to the range of 11 to 13 percent (from 14-16 percent) after the company’s sales slowed in the first half of 2014.
• Logindo Samudramakmur announced it will settle a USD-denominated debt of USD $71 million up to 2016 to foreign and local banks.
• Multi Bintang Indonesia, a beer brewer, reported net profit of IDR 348.2 billion for the first half of 2014, down 10 percent year-on-year due to higher sales and marketing costs.
• Sebuku Iron Lateritic Ores (SILO) is expected to be allowed to (temporarily) export iron ore concentrate without needing to pay export duties as its smelter is approximately 30 percent complete. Other companies that have been given such a temporary (raw mineral) export license are Lumbung Mineral Sentosa and Freeport Indonesia.
• The Sarulla Operation Limited consortium will soon begin drilling a new geothermal steam well for the PLTP Sarulla 3x110 megawatt project.
• Groundbreaking for the Medan - Kuala Namu - Tebing Tinggi toll road is scheduled for September 2014.
• Bank Internasional Indonesia (BII) may conduct a rights issue in 2015 to enhance liquidity.
• Mandiri Tunas Finance plans to issue IDR 1.25 trillion worth of bonds in the fourth quarter of 2014 or first quarter of 2015