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Astrindo Nusantara Infrastruktur to acquire PTT Mining for USD 471 million

JAKARTA. PT Astrindo Nusantara Infrastruktur Tbk (BIPI), an oil and gas mining company, has signed the share purchase agreement (SPA) regarding the takeover of PTT Mining Ltd, Hongkong (PTTML) from PTT International Holdings Limited and PT Sintesa Bara Gemilang. Kurniawati Budiman, Corporate Secretary of BIPI, confirmed that the SPA was signed by the representatives of….

Telkomsel divested 6 thousand towers for IDR 10.28 trillion

JAKARTA. PT Telekomunikasi Selular (Telkomsel), a subsidiary of PT Telkom Indonesia Tbk (TLKM), has transferred 6 thousand units of telecommunication towers to PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel for IDR 10.28 trillion. Those towers reassigned to Mitratel will then be leased to Telkomsel. In addition to this, Mitratel will also lease 712 land plots….

Provident Capital to acquire 54.58% of PALM

JAKARTA – The portion of PT Provident Capital Indonesia (PCI) will rise to 54.58% by the end of the tender offer of 10.41% of shares of PT Provident Agro Tbk (PALM). In said corporate action, CPI plans to acquire a maximum of 736,728,500 shares owned by PALM’s shareholders. In the information disclosure quoted Monday (25/7),….

Boss Panin Says About the News of the Acquisition of Danamon’s Parent

Jakarta, CNBC Indonesia – Japanese financial group Mitsubishi UFJ Financial Group Inc. (MUFG), is reportedly considering an offer to buy Panin Bank shares. In fact, MUFG is said to be working with financial advisors to explore an agreement related to the acquisition of Bank Panin shares. In response to this, Panin Bank President Director Herwidayatmo revealed that this….

Garuda Indonesia’s creditors file an appeal

JAKARTA – The creditors of PT Garuda Indonesia (Persero) Tbk (GIAA) reportedly petition an appeal over the legal verdict homologated by the Commercial Court of Central Jakarta District Court regarding the case between GIAA and its creditors. This petition for appeal was successfully filed by the creditors within 14 days after the court decision was….

In Semester I 2022, the Trend of Delaying Debt Payment Obligations (PKPU) is Recorded Declining

KONTAN.CO.ID – JAKARTA . Throughout the first semester of 2022, the number of cases of Postponement of Debt Payment Obligations (PKPU) decreased compared to 2021. Citing data from the case tracking information system (SIPP) from 5 commercial courts (PN), namely the Central Jakarta District Court, Medan District Court, Semarang District Court, Surabaya District Court and Makassar District….

Chandra Asri is granted USD 100 million loan by Bank OCBC

JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) has obtained a loan facility of USD 100 million from PT Bank OCBC NISP Tbk (OCBC) to drive the progress of the petrochemical industry. Said facility has a tenor of ten years, as stated in the information disclosure in Indonesia Stock Exchange (IDX). Martin Widjaja, Director of NISP,….

Back on banking industry, Astra to acquire 49.56% of Bank Jasa Jakarta

JAKARTA. PT Astra International Tbk (ASII) will be back on the banking industry following the acquisition of 49.56% of PT Bank Jasa Jakarta (BJJ) by it’s subsidiary, PT Sedaya Multi Investama (SMI). ASII and BJJ reportedly signed Shares Subscription Agreement (SSA) earlier this month, according to Gita Tiffani Boer, Corporate Secretary of ASII. “SMI will….

Garuda Indonesia focuses on maximizing profitability

JAKARTA – After the approval of the peace plan by the Panel of Judges of the Central Jakarta District Court, yesterday (27/06), PT Garuda Indonesia (Persero) Tbk (GIAA) projected a faster performance recovery that is aligned with measures to maximize the Company’s profitability. The approval was in accordance with the majority support from creditors based….

Krakatau Steel’s Rp 7 T debt is about to mature, how do you pay it?

Jakarta, CNBC Indonesia – PT Krakatau Steel (Persero) Tbk has debt maturing in September reaching US$ 524 million or around US$ 7.81 trillion (Rp 14,918/US$). The company will take several steps to pay off the debt. Krakatau Steel’s Finance Director Tardi said the maturing debt would be paid through company funds, as well as corporate actions that….

Winning PKPU, Creditors Believed to Believe in Garuda’s Future Plans

JAKARTA – PT Garuda Indonesia (Persero) Tbk has completed the voting stage in the process of Postponing Debt Payment Obligations (PKPU) on Friday (17/6/2022). As many as 97.46 percent of creditors agreed with the peace proposal offered by the management of the state-owned airline. Member of Commission VI DPR Andre Rosiade appreciated the voting results, so….

Bank KB Bukopin to sell off NPL and LAR of IDR 4.13 trillion

JAKARTA – PT Bank KB Bukopin Tbk (BBKP) sold off non-performing loan (NPL) and risky credit (Loan at Risk/LAR) worth IDR 4.13 trillion for IDR 2.65 trillion to IDMN United Pte Ltd (IUL), Singapore. This transaction is 31.31% of the company’s equity dated December 2021. Helmi Fahrudin, Director of Bank KB Bukopin, claimed that said….

Garuda Indonesia Creditors Approve Airline’s Restructuring Proposal

JAKARTA — Garuda Indonesia won overwhelming approval from creditors on Friday for its make-or-break restructuring proposal that staved off bankruptcy for the country’s oldest airline. The state-owned carrier got the more than two-third’s approval required for the plan, which the company announced last week and revised this week under a drawn-out court process that began….

EXCL takes over 51% of Hipernet Indonesia for IDR 335.32 billion

JAKARTA – PT XL Axiata Tbk (EXCL) wrapped up the acquisition of 51% of PT Hipernet Indodata (HI), a managed service provider, yesterday (2/6). The transaction clocked up to IDR 335.32 billion in total. In the information disclosure quoted Friday (3/6), Ranty Astari Rachman, Corporate Secretary of XL Axiata, confirmed that HI’s shareholder structure, as….

BBTN provides working capital credit facility IDR340 billion to Wijaya Karya

JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) has signed a contractor working capital credit facility agreement worth IDR340 billion from PT Bank Tabungan Negara (Persero) Tbk (WIKA). The credit facility will be used to finance thenPiling and Civil Project of the Manyar Smelter Area, according to Mahendra Vijaya, Corporate Secretary of WIKA. This credit facility….

PKPU Extended by 30 Days, This Is Waskita Beton’s Plan

Jakarta – The Debt Payment Obligation Suspension Period (PKPU) of PT Waskita Beton Precast Tbk (WSBP) has been extended for the next 30 days starting from May 24 to June 22, 2022. The President Director of WSBP, FX Poerbayu Ratsunu reaffirmed his commitment to complete all obligations to creditors and will be cooperative and open….

Stafsus Erick Talks about Potential Investors for Garuda Indonesia

Jakarta, CNN Indonesia — Special Staff to the Minister of SOEs , Arya Sinulingga  , opened his voice about potential  new investors to improve the finances of PT  Garuda Indonesia (Persero) Tbk.“There are investors, both external and internal, but we tend to do it internally and internally,” said Arya during the BUMN Halal Bihalal at….

Last Promise, Garuda Proposes 30-Day PKPU Extension

Jakarta, CNBC Indonesia – PT Garuda Indonesia (Persero) Tbk on Tuesday (10/5/2022) is known to have submitted an application for an extension of the Debt Payment Obligation (PKPU) extension for 30 days to the Commercial Court at the Central Jakarta District Court. Previously, the PKPU had also been extended until May 20, 2022. The Jakarta District….

Waskita Karya restructures its subsidiary’s debts in BTN

JAKARTA – PT Waskita Karya (Persero) Tbk (WSKT) restructures debts of its subsidiary, PT Waskita Karya Realty (WKR) in PT Bank Tabungan Negara (Persero) Tbk (BBTN). The relaxation includes modifying the credit limit, the interest rate, and the debt payment due date. Novianto Ari Nugroho, Senior Vice President (SVP) Corporate Secretary of Waskita Karya, mentioned….

Sinar Mas Group Officially Acquires Australian Coal Mining Company Rp 17.37 T

TEMPO.CO , Jakarta – The Sinar Mas Group issuer , Golden Energy and Resources Ltd (GEAR) through its subsidiary Stanmore Resources Ltd, has completed the acquisition of 80 percent of the shares in the Australian coal mining company, BHP Mitsui Coal Pty Ltd (BMC). The acquisition value reached US$ 1.2 billion or equivalent to Rp. 17.37 trillion (assuming an exchange rate….

Bank Mayora Acquisition Completed, BNI Collaborates with Sea Limited to Develop Digital Bank

JAKARTA , KOMPAS.com – PT Bank Negara Indonesia (Persero) Tbk ( BNI ) has completed the acquisition process of Bank Mayora . This was revealed by the President Director of BNI Royke Tumilaar in a virtual Public Expose, Tuesday (26/4/2022). “The acquisition is complete. We are now making and preparing preparations for the development of….

Creditors approve Angkasa Pura I debt restructuring plan

JAKARTA – PT Angkasa Pura (Persero) I obtains approval regarding the deferment of payment of loan interests and principal from the creditors, which consist of state-owned insurance and banks. The flexible payment period will further affect business activities and financial condition of the company. In the information disclosure quoted Wednesday (27/4), Handy Heryudhitama, Corporate Secretary of….

Bargains Are Hidden in Indonesia’s $44 Billion of Distressed Debt

Indonesia’s pile of pandemic-related corporate debt is offering some investors the chance to cherry-pick cheap assets before a government forbearance program runs out next year. The two-year-old government plan gives creditors and debtors time to resolve billions of dollars worth of loans to companies including airline PT Garuda Indonesia to prevent wholesale bankruptcies from the Covid-induced slump. Banks are….

Murni Sadar sets IPO price to IDR 1,280 per share

JAKARTA. PT Murni Sadar Tbk (MTMH), the managing company of Murni Sadar hospital network, has fixed its share price for the initial public offering (IPO), amounting to IDR 1,280 per unit. Proceeding with this price, MTMH will potentially gain fresh funds of up to IDR 325.15 billion from the IPO. For the record, the issued….

KPPU to revoke monopolistic practices relaxation policy in May 2022

JAKARTA – The law enforcement over monopolistic practices and unhealthy business competition will be reinstated starting May 1, 2022, after almost two years of relaxation. KPPU issued the relaxation of law enforcement in order to help restore the economy amidst the COVID-19 pandemic. In a press release quoted Thursday (7/4), Ukay Karyadi, Head of Indonesia….

Bank Mandiri disburses USD 277 million syndicated loan to support government strategic projects

JAKARTA – Bank Mandiri together with Bank BJB and Bank Sulselbar confirmed their commitment to encourage the acceleration of domestic mineral downstreaming. This was realized through the signing of the Syndicated Credit Agreement for the Term Loan Facility to PT Ceria Metalindo Prima (CMP) which is part of PT Ceria Nugraha Indotama (CNI) Group with….

WIR Asia, Partly Owned By Yenny Wahid, Lippo Group To Pieter Tanuri, Sets Initial IPO Price Of IDR 168

JAKARTA – PT Wir Asia Tbk (WIRG), a digital reality-based company, has ended its initial public offering period to be listed on the Indonesia Stock Exchange (IDX). As a result, the company’s share price is set at IDR 168 Citing the company’s offering document, Tuesday, March 29, WIR will issue 2.3 billion shares, equivalent to….

GOTO TO RAISE $1.1B after FINALIZING IPO AT TOP END OF PRICE RANGE

GoTo Group, Indonesia’s biggest tech firm, said it plans to raise US$1.1 billion in an initial public offering (IPO), pricing the deal in the top half of its indicative range and making it one of Asia’s biggest IPOs so far this year. GoTo, formed last year by the merger of ride-hailing-to-payments firm Gojek and e-commerce….

Why the Grab-Gojek ride was not meant to be

IT has been close to a year since reports of merger negotiations between South-east Asia’s decacorns Grab and Gojek first surfaced. At first glance, the deal made sense. Both firms were haemorrhaging cash in a bid to outdo the other in Indonesia. Investors on both sides appeared to be pushing for a truce. But the ride….

Sritex Appoints Helios Capital for Debt Restructuring

April 3, 2021, 3:33 PM GMT+7 Indonesia’s biggest listed clothing firm Sri Rejeki Isman has appointed Helios Capital and Assegaf Hamzah & Partners to represent the company in its debt restructuring process, according to a statement on Saturday. The company, known as Sritex, has been trying to extend a dollar loan’s maturity by two years to January….

Indonesia’s Mega Corpora Officialy Hold 73.71% shares of Bank Harda

JAKARTA (TheInsiderStories) – Indonesian tycoon, Chairul Tanjung, through is financial armed, PT Mega Corpora, has officially hold 73.71 percent of PT Bank Harda Internasional Tbk (IDX: BBHI), the management announced today. The company bought the local lender shares from the existing shareholders, PT Hakimputra Perkasa with costs around Rp308.44 billion (US$21.42 million). Both parties have signed a share….

VIVA to sell its shares to Reliance Capital International

PT Visi Media Asia Tbk (VIVA) plans to sell 15,294,059,976 shares or 39% of total issued and paid-up capital in PT Intermedia Capital Tbk (MDIA) to Reliance Capital International Limited (RCIL). From the company’s brief prospectus quoted on Thursday (4/2), the sale of shares was carried out in order to settle debts (Senior Facility and….

Affinity Equity Partners acquires 21% stake in Sido Muncul

JAKARTA. PT. Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) releases 21% share to Affinity Equity Partners. The share acquisition was carried out through crossing transactions in the negotiation market on Wednesday (2/3) with an estimated value of IDR 4.54 trillion. Sido Muncul President Director David Hidayat explained that the strategic partnership between Affinity and….

Minister Qoumas lauds launch of Indonesia Sharia Bank

Religious Affairs Minister Yaqut Cholil Qoumas has lauded the launch of the Indonesia Sharia Bank (BSI), saying he expects the bank would spur the growth of the Islamic banking industry in Indonesia. “Hopefully, we can achieve the Indonesia Sharia Bank that is united to bring benefits and to become a blessing for a united Indonesia,”….

Indonesia’s Gojek in merger talks with Tokopedia to battle Grab

JAKARTA — Two of Indonesia’s largest tech companies, Gojek and Tokopedia, are in discussions over a merger, with a view to an initial public offering, as they gear up to confront the region’s biggest tech company, Singapore’s Sea, Nikkei Asia has learned. The talks come as superapp provider Gojek’s merger negotiations with Singapore-based rival Grab hit….

Indolife becomes new shareholder in Bank Mega

JAKARTA. PT Indolife Pensiontama (ILP) has become a new shareholder in PT Bank Mega Tbk (MEGA) with a 6.07% stake following a cross trade of over 422.807 million shares at the end of 2020. According to a report published by the Indonesian Central Securities Depository (ICSD) on 4 January 2021, Indolife, the Salim Group’s insurance arm, currently….

Waskita Karya to restructure debts to improve financial condition

JAKARTA. State-owned property and construction firm PT Waskita Karya (Persero) Tbk (WSKT) has announced debt restructuring effort to improve its financial condition amid the coronavirus (COVID-19) pandemic. According to Waskita Karya CFO Taufik Hendra Kusuma, the company is currently trying to fix debt mismatch with the assitance of a number of independent consultants. So far, Mr Kusuma….

Japfa to sell 80% of Greenfields Dairy Singapore for $315m to TPG Northstar

SINGAPORE (THE BUSINESS TIMES) – Agri-food company Japfa will sell 80 per cent of its South-east Asia-branded dairy business to affiliates of investment firms TPG and Northstar Group for US$236 million (S$315 million) in a strategic partnership, it said in an exchange filing on Monday (Dec 7). Japfa will retain 20 per cent of the….

Telkomsel’s $954m tower sale will boost Singtel dividends: DBS

The sale of 6,050 telecommunication towers by Singtel’s Indonesian joint venture company for 10.3 trillion rupiah (S$954 million) will likely support the Singapore telco’s dividends, said DBS Group Research. Jakarta-based Telekomunikasi Selular (Telkomsel), in which Singtel has a 35 per cent stake, is selling the towers to Dayamitra Telekomunikasi (Mitratel), Singtel said last Friday. In….

Garudafood (GOOD) officially acquired 55% shares of cheese producer Prochiz for Rp 953.7 billion

PT Garudafood Putra Putri Jaya Tbk (GOOD) completed the purchase of 825 million shares belonging to PT Mulia Boga Raya Tbk (CHEESE) on Wednesday (14/10). This amount is equivalent to 55% of all shares that have been issued by the Prochiz cheese producer. Based on the disclosure of information about Garudafood on the Indonesia Stock….

BCA Closes Rabobank Acquisition, Paves Way for Its Islamic Banking Expansion

Jakarta. Bank Central Asia, or BCA, Indonesia’s most valuable lender, has closed the deal on the acquisition of Bank Interim Indonesia, formerly Bank Rabobank International Indonesia for Rp 644 billion, or $44 million from a Dutch lender Coöperatieve Rabobank in a move that would pave way for the local lender expansion in the Islamic banking business.  Vera Eve….

South Korean investor to build ‘largest power plant’ in North Sumatra

PT Hanlim Power Corporation, the local arm of a South Korean company, plans to build a 4,800 megawatt (MW) gas-fired power plant (PLTGU) in Batubara regency, North Sumatra, which is touted to be the largest in the province. The company signed a deal with North Sumatra Governor Edy Rahmayadi on Wednesday to expedite the issuance….

Jokowi inaugurates Yogyakarta International Airport

President Joko “Jokowi” Widodo officially inaugurated Yogyakarta International Airport (YIA) in Kulon Progo regency on Friday, several months after its full operation began in March. Situated around 45 kilometers from the city of Yogyakarta, the new airport has replaced the older Adisutjipto International Airport as the main flight hub in the province of Yogyakarta. The….

Indonesia’s Indofood CBP to buy Pinehill Co for US$3b

JAKARTA (June 8): PT Indofood CBP Sukses Makmur, owned by Indonesian billionaire Anthoni Salim, plans to acquire a producer of instant noodles in Africa and the Middle East for US$3 billion (RM12.8 billion) to expand in fast-growing markets for consumer products. Indofood CBP, part of conglomerate Indofood Sukses Makmur, will acquire 100% of Pinehill Co from….

BBCA will acquire Rabobank and merge it with its subsidiary

JAKARTA. PT Bank Central Asia Tbk (BBCA), plans to acquire PT Rabobank International Indonesia and merge it with its subsidiary. BBCA estimates that the acquisition may cost Rp 500 billion. However, the final figure will be decided based on Rabobank’s equity value at the time of the acquisition, plus a fixed premium of US$ 20.5….

Kopi Kenangan obtains US$ 109 million from Series B funding round

JAKARTA. Kopi Kenangan, one of the largest coffee shop chains in Indonesia, has just obtained US$ 109 million from a Series B funding round led by Sequoia Capital. In an official statement received at idnfinancials.com, Kopi Kenangan will use the funds to strengthen its operations in Indonesia. In addition, the company will also allocate funds….

Coronavirus Clouds M&A Lending Market

When financial markets swoon, private equity pros are known for checking the debt side of the equation first as that determines their cost of leverage for deals. Because the full effect of Covid-19, the disease caused by a novel coronavirus, remains unknown, the outlook for lending and M&A is far from clear in the wake of….

Olam International sells 50% shares of Indonesia’s Far East Agro

Singapore’ Olam International has sell its remaining 50 percent stake of Far East Agri Pte. Ltd. for around US$85.0 million to its joint venture partner Thailand-based Mitr Phol Sugar Corporation. After the transaction, the global food and agriculture supplying company food book a capital gain about $40.0 million. Olam divest is part in the sugar joint venture is….

Aviva announces exit, sells entire stake in Indonesian joint venture

British insurance company Aviva Holding Ltd. has announced its exit from Indonesia, selling all its shares in its joint venture in the country, PT Astra Aviva Life (Astra Life), to its partner, PT Astra International. Aviva released the statement on the company’s website on Friday. “The transaction is expected to be completed in quarter four….

Protelindo and CMI will purchase EXCL telecommunication towers

AKARTA – PT Profesional Telekomunikasi Indonesia (Protelindo) and PT Centratama Menara Indonesia (CMI) won PT XL Axiata Tbk’s (EXCL) tower sales tender. The sold towers then will be leased back to EXCL.  President Director & CEO of XL Axiata  Dian Siswarini stated in a press release on Tuesday (11/2), said the sale and purchase agreement for….

Indofood CBP plans to acquire manufacturer of Indomie in Middle East, Africa

Processed food company Indofood CBP Sukses Makmur (ICBP) is planning to acquire instant noodle manufacturer Pinehill Company Limited, which supplies Indomie to the Middle East, Africa and Serbia. ICBP corporate secretary Gideon A. Putro said on Wednesday that the company responded to its British Virgin Island affiliates, Pinehill Corpora Limited and Steele Lake Limited, on….

Nicko Widjaja seeks to emulate MDI success at new firm BRI Ventures

Having led MDI Ventures to clock five exits in a single year last year – a feat bettered by none in Indonesia’s VC game, Nicko Widjaja says he is “chasing his own ghost” as he looks to emulate a similar level of success at his new firm BRI Ventures, the VC arm of the country’s….

SG’s Jebsen & Jessen Packaging acquire 60% of Indo Tirta Abadi

Singapore-based Jebsen & Jessen Packaging (JJP) has acquire a 60 percent stake in Indonesian beverage packaging manufacturer PT Indo Tirta Abadi (ITA), according to press statement. The companies signed a sale and purchase agreement on 31 January 2020, while the transaction will be closed in early March. Terms of the deal were not disclosed. Founded….

Former president Habibie’s son to acquire Bank Muamalat: OJK

Singapore-based sharia investment company Al Falah Investment led by Ilham Akbar Habibie, the eldest son of the late former president B.J. Habibie, is set to acquire sharia-compliant Bank Muamalat Indonesia. Financial Services Authority (OJK) chairman Wimboh Santoso said on Tuesday that the authority had approved the deal, adding that the consortium led by Al Falah….

South Korena power company eyes $650m renewable energy projects in Indoesia

 South Korean power producer is looking to finance a hydropower plant project in Central Java that would be the coal buyer’s first renewable energy deal with Indonesia. Korea Southern Power (KOSPO) is currently reviewing a feasibility study to develop the 230-megawatt (MW) Maung hydropower plant in Banjarnegara, Central Java, with Indonesian state-owned construction firm Nindya Karya and….

Tolaram Inc. divest 53% of its Amar Bank shares

JAKARTA – Tolaram Inc, a Singapore-based company, divested 53.682% of its shares in PT Bank Amar Indonesia Tbk (AMAR) due to the adjustment of the maximum limit of ownership in the company. The divestment was carried out during the period of 15-22 January 2020. As quoted from the company’s disclosure, Navin Nahata, Director of Tolaram Inc. said….

BBL to seal PT Bank Permata deal in Q3

Bangkok Bank (BBL) expects to make payment for its acquisition of Indonesia’s PT Bank Permata in the third quarter this year. The deal is seeking approval from both the Bank of Thailand and its Indonesian counterpart and the process is expected to be completed soon, said Chansak Fuangfu, executive director and senior executive vice-president. BBL….

NWP Retail to buy five Indonesian malls

Indonesian retail shopping mall platform NWP Retail is set to acquire five shopping malls, two owned by local subsidiaries of Singapore-listed Lippo Malls Indonesia Retail Trust.  The two Lippo Malls will be purchased for a total price of IDR1.30 trillion (US$92 million), while the other three mall purchases total approximately IDR440 billion (US$31.5 million). The….

Investree acquires stake in Mbiz

JAKARTA – Peer-to-peer (P2P) lending startup Investree has acquired a significant stake in Lippo Group-backed business-to-business (B2B) procurement startup Mbiz. As reported by DailySocial, Investree co-founder Adrian Gunadi will sit as a board server at Mbiz following the acquisition. No financial details regarding the deal were disclosed. According to Mr Gunadi, the acquisition will enable Investree….

Lippo Malls Indonesia Retail Trust to divest Pejaten Village and Binjai Supermall

THE manager of Lippo Malls Indonesia Retail Trust (LMIRT) has inked conditional agreements to divest two properties, Pejaten Village and Binjai Supermall, for 1,280.7 billion rupiah (S$124.3 million).  The buyer is NWP Retail, a joint venture between Warburg Pincus and City Retail Developments, LMIRT announced in a Monday bourse filing after trading hours.  The sale….

Patrick Walujo & Jerry Ng-backed entities close acquisition of Bank Artos

Hong Kong-based investment firm Wealth Track Technology (WTT) and IT service provider Metamorfosis Ekosistem Indonesia (MEI) have completed the acquisition of 51 per cent stake in Bandung-based small lender Bank Artos for a total 242 billion rupiah ($17 million). In a filing to the Indonesia Stock Exchange (IDX) last week, WTT, affiliated to the founder….

Garudafood and Hormel Foods Asia Pacific Pte Ltd establish a JV company

On December 20, PT Garudafood Putra Putri Jaya Tbk (FOOD) has signed a joint venture agreement with Hormel Foods Asia Pacific Pte. Ltd, a subsidiary of Hormel Foods Corporation. For information, Hormel Foods Corporation is a food company based in the United States that has several well-known brands such as Skippy peanut butter. A joint….

Asia Cinema purchases stake in CGI Holdings

Asia Cinema Group Ltd has purchased a 28.57% stake in CGI Holdings Ltd, which owns a 51% stake in PT Graha Layar Prima Tbk (BLTZ) on December 20, 2019. With the purchase, CJ CGV Co Ltd’s ownership in CGI Holdings has been reduced from 100% to 71.43%. In the company’s stock exchange filing, BLTZ President Director Kim….

Gojek closes in on deal to buy 5% of Blue Bird

Gojek, the Indonesian all-purpose super app provider, is nearing an agreement to buy 5 percent of top local taxi operator PT Blue Bird, according to people familiar with the matter. Gojek would pay about US$30 million, the people said, asking not to be named discussing a private matter. That implies a price of more than 20 percent above….

Garuda to seek US$900 million funding for debt financing

JAKARTA. PT Garuda Indonesia (Persero) Tbk (GIAA) is planning to seek a funding of US$ 900 million for debt refinancing. According to an Indonesia Stock Exchange (IDX) filing published on Monday (16/12), as of December 31, 2018 the state-owned airline is US$ 1.6 billion in debt, due to mature within a year. In addition, there is also….

Indonesia’s BCA buys Rabobank Indonesia for US$ 28.35M

Indonesia’s largest private bank,  PT Bank Central Asia Tbk (IDX:BBCA) and its subsidiary, PT BCA Finance bought all shares of PT Bank Rabobank International Indonesia of Rp. 397 billion (US$28.35 million). The transaction made Rabobank Indonesia a subsidiary of BCA, the company said on an official statement on Wednesday (12/11). The purchase of Rabobank Indonesia….

Waskita Karya will divest its shares in two toll road companies

JAKARTA. PT Waskita Karya (Persero) Tbk, the parent compant of PT Waskita Toll Road, will soon complete the divestment of its shares in two toll road companies to Road King Infrastructure Ltd. worth Rp. 2.37 trillion. The two toll road companies are PT Jasamarga Solo Ngawi (JSN) and PT Jasamarga Ngawi Kertosono Kediri (JNKK). PT….

Carousell announces merger with 701Search

Singapore-based online marketplace Carousell is merging with Telenor Group’s Online classified website 701Search. The merger, according to an official statement, will bring Carousell’s valuation to over US$ 850 million, with Telenor becoming the single largest minority shareholder in the marketplace with a 32% stake. According to Carousell co-founder and CEO Quek Siu Riu, the corporate….

Sinar Mas Multiartha (SMMA) becomes a shareholder in Bumi Multi Finance

PT Sinar Mas Multiartha Tbk (SMMA) purchased 53,125,657 shares owned by PT Asuransi Simas Jiwa in PT Bima Multi Finance (BMF) for Rp. 111.75 billion. After the transaction, SMMA now has a 23.10% stake in BMF. As quoted from the company disclosure, Doddy Susanto, President Director of PT Sinar Mas Multiartha Tbk (SMMA) said the….

Yahoo Japan and Line Corp confirm merger agreement

SoftBank Corp. announced today that it has reached an agreement to merge with Z Holdings (The SoftBank subsidiary formerly known as Yahoo Japan) and Line Corp., in a move they hope will better position them againts competitors. The merger, which was first reported by Nikkei last week, is expected to be completed in October 2020. SoftBank….

Bank BNI limits lending to the mining sector

Jakarta. PT Bank Negara Indonesia (Persero) Tbk (BBNI) is limiting lending to the mining sector, due to the increase of non-performing loan (NPL) in that sector. As of September, BBNI noted that non-performing loan (NPL) in the mining sector increased to 7.8%. “Until the end of the year we will continue to disburse credit to….

ANZ Group becomes Panin Bank controlling shareholder

JAKARTA. PT Bank Pan Indonesia Tbk (PNBN) or Panin Bank now officially has two controlling shareholders following the ANZ Group’s acquisition of a 38.83% stake in the bank, with the rest owned by founder Mukmin Ali Gunawan. Bank Panin Vice President Director Roosniati Salihin confirmed the acquisition. “Now there are two controlling shareholders [in Bank Panin]: the….

BCA Completes $70 million Bank Royal Acquisition

Bank Central Asia, or BCA, Indonesia’s largest lender by market capitalization, completed the acquisition of small-sized lender Bank Royal Indonesia last week after securing approval from the Financial Services Authority (Otoritas Jaksa Keuangan). The move marked continuing consolidation in Indonesia’s banking industry, which today still has 111 lenders of various sizes, down only slightly from….

Krakatau Steel’s debt restructuring is expected to be completed by the end of year

Jakarta. So far , PT. Krakatau Steel (KRAS) has completed 78% of the restructuring process and the process is expected to be completed by the end of this year. This was stated by the President Director of KRAS, Silmy Hakim, as quoted from Kontan, on Monday (4/11). Total debt that needs to be restructured reaches….

Mandiri will sell its remaining MAGI (Mandiri AXA General Insurance) shares

Jakarta. PT Bank Mandiri Tbk (BMRI) will release its remaining MAGI (Mandiri AXA General Insurance) shares, because the return on investment (ROI) is not in accordance with company policy. Bank Mandiri initially had a 60% stake in AXA, and had already sold 40% of it, so now it has 20% stake. AXA is a joint….

Everstone may quit Burger King Indonesia stake

Private equity firm Everstone Capital may withdraw from its involvement in PT Sari Burger Indonesia (SBI), the country’s master franchise owner Burger King. A DealStreetAsia report revealed the firm has been speaking with banks and advisers over the course of this year about the potential move. Everstone is currently in a partnership with Indonesian retail….

Asia dominates global retail acquisition in September

Asian deals dominated global retail acquisitions in September according to a database compiled by GlobalData. Retail industry deals for the month were worth more than US$ 7.52 billion, representing an increase of 94.9 percent over August and 38.6 percent above the 12-month average  of $5.43 billion. In terms of number of deals, the sector saw….

Ford shares tumble nearly 7% as $11 billion restructuring hits bumps

Ford’s Q3 results and lower guidance are most recent example of speed bumps for CEO Jim Hackett’s $11 billion restructuring plan. Hackett and other executives pointed to product mix, increasing free cash flow and progress in Europe as examples of the turnaround plan taking hold. Shares of Ford closed down nearly 7% on Thursday  ….

SoftBank Vision Fund Planning Writedown of Over $5 billion

SoftBank is planning to take a writedown to its Vision Fund of at least $5 billion to reflect a plunge in the value of some of its biggest holdings, including WeWork and Uber Technologies Inc., according to people with knowledge of the matter. The Tokyo-based parent of the $100 billion Vision Fund, which began investing in 2017, is poised….

Indonesian modern retailers are interested to expand on Vietnam

Jakarta. A number of moden retailers from Indonesia who are engaged in the minimarket and convenience store sectors, are increasingly interested in developing their business in Vietnam. Nicholas Mandey, Chair of the Indonesian Retail Business Association (Aprindo), said that the expansion needs support from the Indonesian government through relaxation of regulations. “The expansion to Vietnam….

Indosat sells 3,100 telecom towers for Rp. 6.39 trillion

Indosat Ooredoo, one of Indonesia’s major telecommunications companies, has agreed to sell as many as 3,100 telecommunication towers to two local companies PT Daya partner Telekomunikasi (Mitratel) and PT Professional Telekomunikasi Indonesia (Protelindo). Under the sale and purchase agreement signed in Jakarta on Tuesday, Mitratel will buy 2,100 of the towers, while Protelindo will acquire….

Inalum Signs Preliminary Agreement for Vale Divestment

Jakarta. Indonesia Asahan Aluminium, the state-owned mining holding company, has entered into a preliminary agreement with Vale Indonesia and two of its shareholders – Vale Canada and Sumitomo Metal Mining – to acquire 20% of the shares in the company, Indonesia’s largest nickel producer, Vale Indonesia said in a statement on Monday. Last week, the government….

Government opens Singkawang airport project to investors in PPP scheme

JAKARTA –  The Indonesian government through the Ministry of Transportation is offering the Singkawang Airport development project in West Kalimantan in a public-private-partnership (PPP) scheme with and investment value of Rp. 4.3 trillion. According to the ministry’s data, the investment value consists of Rp. 1.7 trillion in capital expenditure and Rp. 2.7 trillion in operational….

DBS is said to consider joining race for Bank Permata Indonesia

DBS Group Holdings Ltd. is considering joining the race to acquire PT Bank Permata, the Indonesian lender in which Standard Chartered Plc holds a stake, according to people familiar with the matter. Singapore-based DBS is working with an adviser on the possibility of bidding for Permata, which has a market value of about $2.4 billion, said….

Duniatex’s suspension of payment request granted by Semarang Commercial Court

SEMARANG – The Semarang Commercial Court has granted a suspension of payment request filed by PT Shine Golden Bridge against PT Duniatex Group. According to Duniatex’s legal counsel Aji Wijaya, the Semarang Commercial Court ruled on the suspension of payment request filed against Duniatex’s subsidiaries on Monday (30/9). He also added that Duniatex is prepared….

XL Axiata and Hutchison 3 merger to benefit Indonesian telecommunication industry

JAKARTA. The merger of PT XL Axiata Tbk (EXCL) and Hutchison 3 is believed to positively affect the Indonesian telecommunication industry. As reported by Reuters on Tuesday (1/10), EXCL has received a serious and credible acquisition offer from Hong Kong-based telecommunication company CK Hutchison Holdings Ltd. If both parties agree on the offer, a deal will be….

Krakatau Steel Officially Signs Debt Restructuring with six lenders

AKARTA (TheInsiderStories) – Local manufacturer, PT Krakatau Steel Tbk (IDX: KRAS) has officially signed a debt restructuring agreement with six financial institutions. The management has said will use three schemes to restructure the company’ loans, use cash, divestment program and issue a convertible bond. The debt restructuring was also carried out with the company’ subsidiaries, PT Krakatau Wajatama, PT….

Axiata seeks Malaysia – Indonesia mergers after Telenor Talks ends

Axiata Group Bhd. is pursuing mergers as a key strategy despite an abrupt end to its plan to form an Asian mobile giant with Telenor ASA, its top executive said. Malaysia’s largest wireless carrier, which provides telecommunication services to more than 300 million people from India to Cambodia, could see mergers happening for its Indonesian and….

BRI reject PKPU lawsuit by Duniatex

JAKARTA. PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) rejected the lawsuit for Suspension of Debt Payment Obligations (PKPU) filed by the Duniatex Group at the Semarang Commercial Court. Hari Purnomo, Corporate Secretary of BBRI, said that his party rejected the lawsuit because the loans given to Duniatex Group was bilateral. Even so, BBRI has approved….

Kalbe Farma (KLBF) exploring possibility of a joint venture with Hale International

JAKARTA. PT Kalbe Farma Tbk (KLBF), a pharmaceutical company, is exploring the possibility to establish a joint venture (JV) with Hale International. President Director of KLBF, Vidjongtius, announced that currently, Kalbe Farma is open to opportunities for cooperation with companies engaged in the production of health drinks. “The cooperation is like a joint venture, but….

Grab in talks to merge Indonesian payment firms to overtake Gojek

SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said. A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from….

PGN confirms its plan to acquire Krakatau Steel’s subsidiary

JAKARTA. PT Perusahaan Gas Negara (Persero) Tbk (KRAS) or PGN, confirmed its plan to acquire PT Krakatau Daya Listrik (KDL), which is currently 100% owned by PT Krakatau Steel Tbk (KRAS). Rachmat Hutama, Corporate Secretary of PGAS, said that the plan is currently being reviewed by the directors. “The company is still conducting an internal….

Bank Mandiri choose to purchase banks abroad

JAKARTA. President Director of PT Bank Mandiri Tbk, Kartika Wirjoatmodjo, said that the company is still in the process of purchasing banks abroad, including in Philippines and Vietnam. There are several considerations that made Tiko, Kartika’s nickname, decide to target banks abroad. First, to expand the company’s business in the Asian region. Second, banks in….

Bank Danamon and BNP complete merger

Bank Danamon Indonesia (Bank Danamon) and Bank Nusantara Parahyangan (Bank BNP), a member of Mitsubishi UFJ Financial Group (MUFG) have completed their operational merger. Customers of Bank BNP are now able to enjoy Bank Danamon’s vast array of products and services, its national network of 464 branches and 1,400 ATMs along with access to more….

Bank Tabungan Negara (BTN) officially acquired a Venture Capital under the State-Owned Enterprises

Bank Tabungan Negara (BTN) officially acquired a Venture Capital to support the company’s line of property finance. The company is to obtain a license from OJK for the current plan. It was decided after today’s shareholder general meeting (RUPSLB) (8/29). The meeting also evaluates employee’s performance during the first semester of 2019 and its management….

Phillip Morris and Altria to create US$ 20 billion company

JAKARTA. Philip Morris International Inc, the parent company of PT HM Sampoerna Tbk (HMSP), has confirmed that it is exploring a merger with Altria Group Inc, which would create a tobacco giant with a US$ 200 billion market cap. If materialised, the merger would be the largest deal in the consumer business and the fourth-largest in….

Amazon in talks for stake in Indonesia’s ride hailing startup Gojek

Amazon.com is in early talks with Gojek to buy a stake in the Indonesian ride-hailing startup, a source familiar with the matter told Reuters on Wednesday (Aug 28). Details of the stake were not known and the source did not want to be identified as the talks are private. Both Amazon and Gojek did not respond….

East Ventures gets $75 million Investment from Facebook co-founder, Sinar Mas, among others

The East Ventures capital company announced on Thursday it had raised US$75 million, double the initial target of $30 million, to accelerate its investments in startups from Japan and Southeast Asia, particularly Indonesia, where most of the company’s managing partners were born. The venture capital (VC) company’s investors include several big names from the tech….

BCA will acquire another bank to merge with Bank Royal

JAKARTA. The management of PT Bank Central Asia Tbk (BBCA) confirmed that they are still looking for one more bank to merge with Bank Royal, which was previously acquired. According to the bank’s Business Plan (RBB), BCA plans to acquire two banks. So far, they have only acquired one bank, PT Bank Royal Indonesia. BCA….

Waskita to divest 5 toll roads to 2 investors

JAKARTA – PT Waskita Karya Tbk (WSKT) will divest 5 of its toll road to 2 investors. Both of these investors are domestic investors and foreign investors. For information, a due diligence process is currently underway for the sale of the 5 toll roads. Haris Gunawan, Waskita’s Finance Director said, “We expect 4-5 toll segments….

OCBC Mulls Bid for Control of Indonesia’s Bank Permata

Oversea-Chinese Banking Corp. is weighing a bid for Standard Chartered Plc’s Indonesian bank, people with knowledge of the matter said, a move that may create the country’s fifth-largest lender. The Singaporean bank is considering an offer for almost 90% of PT Bank Permata, which has a market value of about $1.9 billion, said the people, asking not….

Softbank will inject capital for fisheries start-up, Aruna

JAKARTA – Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan stated that SoftBank, a Japanese technology company, is ready to invest in a number of new startups in Indonesia. One of them is a startup in the field of fisheries, Aruna. According to Luhut, he had discussed it with SoftBank CEO Masayoshi Son when they….

Massive HMV Liquidation sale in a decade

The largest liquidation sale in a decade for a collapsed retailer continues until August 29 The most popular items on sale are the 9,000 vinyl records among the 100,000 articles that includes CDs, DVDs and toys at discounts ranging from 50 to 90 per cent   Hundreds of people showed up much before the start….

Golden Plantation (GOLL) request for an extension of its PKPU status

JAKARTA. PT Golden Plantation Tbk (GOLL) requested an extension of its Suspension of Debt Payment Obligation (PKPU) status to the commercial court, because it was unable to pay its maturing debt, which reached Rp 9.47 billion. Budhi Istanto Suwito, Director of GOLL, said the debt came from two of its subsidiaries, PT Bumiraya Investindo (BRI)….

DIVA officially acquires 30% stake in Pawoon

JAKARTA – PT Distribusi Voucher Nusantara Tbk (DIVA) has completed its acquisition of a 30% stake in point-of-sale (POS) startup Pawoon. However, the value of the investment was not disclosed. In an official statement, DIVA said that the acquisition will prompt both companies to speed up their rapid business expansion in fields including technology development, product innovation,….

Krakatau Steel committed to restructuring despite lower revenue

JAKARTA – PT Krakatau Steel (Persero) Tbk (KRAS) remains committed to continue its restructuring process, although its revenue in the first semester of 2019 dropped 16.78% year on year (yoy) to US$ 702.05 million. “Steel imports are still putting pressure on the domestic steel industry. The utilisation rate of HRC (hot rolled coil) production is still under….

Duniatex’s liquidity and cash ratio show the company’s low ability to repay its debts

JAKARTA. The liquidity ratio and cash flow of the Duniatex Group in 2018 shows that the company has the potential to have difficulty repaying its short-term debt. The company’s 2018 financial report shows that the liquidity ratio, represented by the cash ratio, can only cover 9% of the company’s total short-term debt. Liquidity ratios are….

Ex-McKinsey Consultant Turns Failed Restaurant Into $535 Million Startup

When Indian diners order biryani online from Rebel Foods they’re greeted with a culinary history of the fragrant, slow-cooked rice dish. “The recipe was lost forever when King Cyrus laid siege to Behrouz until it was discovered amongst the ruins,” the story reads in part. “With this Biryani, we have brought back to life this lost recipe.” Diners are invited to….

Phillipines’ Jollibee sets on Indonesia with Coffee Bean and Tea Leaf beachhead

MANILA – Philippines’ Jollibee Foods Corp is training its sights on Indonesia, with newly acquired US chain Coffee Bean & Tea Leaf its entry point in the economically expanding and densely populated Southeast Asian neighbor, its top officials said. Jollibee has for years planned to bring its Chickenjoy fried chicken and sweet spaghetti restaurants to….

Singapore remains Indonesia’s top foreign investor in first half

Singapore remained the largest foreign investor in Indonesia during the first half, with investments of US$3.4 billion comprising 5,348 projects, according to the latest investment data issued by the Investment Coordinating Board (BKPM) on Tuesday. During the same period, Japan was the second-largest with investment of $2.4 billion comprising 3,708 projects, followed by China as….

KDB seeking M&A in Indonesia

Government-owned Korea Development Bank (KDB) is seeking M&A with Indonesian financial firms to expand its presence in Southeast Asia, according to an industry source. The development bank is reportedly interested in an Indonesian financial firm offering various financial services, including leasing, consumer financing and credit card financing, with Deloitte Korea as its agent. The source….

Pepsi Akuisisi Perusahaan Afrika Selatan Senilai Rp. 23.8 triliun

Suara.com – Perusahaan yang bergerak di industri makanan dan minuman ringan asal Amerika Serikat, Pepsi sepakat mengakuisisi Pioneer Food Group asal Afrika Selatan senilai 1,7 miliar dolar AS atau setara Rp 23,8 triliun (asumsi 1 dolar AS = Rp 14.000). Menurutnya akuisisi dilakukan untuk meningkatkan setelah dilanda kekeringan dan kondisi perdagangan yang sulit. Dikutip dari Reuters, CEO Pepsi, Ramon Laguarta….

Restrukturisasi Utang KS terbesar sepanjang sejarah BUMN

Liputan6.com, Jakarta PT Krakatau Steel (Persero) Tbk saat ini tengah melakukan efisiensi demi memangkas kerugian yang sudah dideritanya lebih dari lima tahun. Berbagai upaya dilakukan mulai dari perampingan organisasi hingga restrukturisasi utang perusahaan. Direktur Utama Krakatau Steel Silmy Karim mengungkapkan ada beberapa hal yang ia minta kepada Menteri BUMN Rini Soemarno ketika awal memimpin KS. Salah satu yang….

PDG Akuisisi 70 persen saham PT XL Axiata (EXCL)

Investor asal Singapura PDG yang didukung Warburg mengakuisisi mayoritas saham XL REPUBLIKA.CO.ID, JAKARTA — Investor, pengembang dan operator infrastruktur internet berbasis di Singapura, Princeton Digital Group (PDG), yang didukung oleh Warburg Pincus, mencapai kesepakatan untuk mengakuisisi 70 persen kepemilikan pada portofolio bisnis layanan pusat data PT XL Axiata Tbk (XL Axiata). XL saat ini adalah….

BCA Akuisisi Bank Royal Senilai Rp. 1 Triliun

Presiden Direktur PT Bank Central Asia (BCA) Tbk Jahja Setiaatmadja memberikan penjelasan usai laporan keuangan di Jakarta, Kamis (28/2/2019)     Bisnis.com, JAKARTA – PT Bank Central Asia Tbk. menggelontorkan dana senilai Rp1 triliun untuk mengakuisisi PT Bank Royal Indonesia. Dengan demikian bank swasta terbesar di Tanah Air ini menjadi pemilik tunggal bank yang didirikan pada….

Krakatau Steel Cari Dana Rp. 14 Triliun Untuk Kurangi Utang

Jakarta, CNN Indonesia — PT Krakatau Steel Tbk tengah melakukan program restrukturisasi guna memperbaiki kinerja keuangan yang merugi selama tujuh tahun berturut-turut. Restrukturisasi dilakukan terhadap organisasi, portofolio, dan keuangan. Untuk restrukturisasi organisasi produsen baja itu bakal memangkas 30 persen unit kerja setara 1.879 unit dari total 6.264 posisi saat ini. Itu berarti, jumlah unit kerja di perseroan menjadi 4.385 posisi usai pemangkasan…..

Kabar Terbaru Polygon Akuisisi Wimcycle

jpnn.com, Surabaya – PT Insera Sena yang merupakan produsen sepeda merek Polygon masih mengkaji rencana pengambilalihan PT Wijaya Indonesia Makmur Bicycle (WIM), penghasil sepeda Wimcycle. Direktur Insera Sena William Gozali mengatakan, saat ini manajemen belum mengambil keputusan apa-apa terkait hal tersebut. ’’Kami terus mengkaji,” ujarnya, Rabu (8/5). Sebelumnya, Insera Sena dikabarkan mengambil alih saham sekaligus kewajiban utang….

Indonesia’s GOJEK acquires AirCTO to expand engineering base in India

Indonesia-based ride-hailing startup Go-Jek on Wednesday announced its acquisition of Bengaluru-based AirCTO, an Artificial Intelligence- based recruitment platform, for an undisclosed amount. Go-Jek will use the acquisition to open its second engineering and product development center in Gurgaon, according to the company’s statement. As part of the deal, the AirCTO team will join Go-Jek with….

Sinarmas Rilis DIRE, Plaza Indonesia, FX & Sudirman Jadi Aset

  Jakarta, CNBC Indonesia – Perusahaan manajer investasi, PT Sinarmas Asset Management mencatatkan produk Dana Investasi Real Estate (DIRE) Simas Plaza Indonesia di Bursa Efek Indonesia (BEI) dengan total portfolio senilai Rp 10,4 triliun. Underlying aset DIRE tersebut yakni 95,37% saham PT Plaza Indonesia Realty Tbk (PLIN) dan 100% saham PT Sarana Mitra Investama, yang memiliki saham di….

Tokopedia acquires BrideStory and ParentStory

TOKOPEDIA ANNOUNCES THE  ACQUISITION OF BRIDESTORY AND PARENTSTORY   JAKARTA, KOMPAS.com – Tokopedia CEO William Tanuwijaya announced the acquisition of a company engaged in the marriage directory vendor, Bridestory and child activity marketplace, ParentStory today, Wednesday (06/19/2019). “What I can announce today is that BrideStory and ParentStory were fully acquired by Tokopedia. Tokopedia wants to….

Gojek to IPO soon

Go-Jek Explores First IPO of a Billion-Dollar Indonesian Startup PT Go-Jek Indonesia PT could become the country’s first-billion dollar startup to hold an initial public offering after the transport and technology company met with the nation’s equity market. Executives led by Go-Jek President Andre Soelistyo met with officials from the Indonesia Stock Exchange in Jakarta….

Companies Reschedule IPO Plans Over Volatile Market

Companies Reschedule IPO Plans Over Volatile Market Several companies have announced their intention to reschedule plans for an initial public offering (IPO) due to ongoing volatility in the domestic stock market. Pipe manufacturer PT Wahana Duta Jaya Rucika is among the companies to postpone its IPO, Indonesia Stock Exchange (IDX) director Samsul Hidayat said on….

PGN to Disburse $1.2b For Pertagas Acquisition

Newly established state-owned gas subholding company PT Perusahaan Gas Negara (PGN), which acquired 51 percent shares in Pertagas, a subsidiary of state energy giant Pertamina, on Friday must disburse US$1.2 billion, according to a public auditor assigned to valuating the shares. The integration of PGN and Pertagas has been dubbed as the final phase for Pertamina….

The Annual General Meeting Shareholders & The Extraordinary General Meeting Shareholders of PT. Kirana Megatara Tbk

In order to comply Otoritas Jasa Keuangan’s terms & condition as a public listed company, on Thursday 28th  June 2018, PT. Kirana Megatara Tbk conduct  the annual general meeting of shareholders & the extraordinary general meeting of shareholders and public expose at Company Head Office – The East 21st Floor. The event that lead by….

Pizza Hut Indonesia Gets Listed on IDX

Sarimelati Kencana, also known as Pizza Hut Indonesia, has listed around 604 million new shares from Initial Public Offering (IPO) on the Indonesia Stock Exchange on Wednesday (05/23). The company’s stock code is PZZA. The company’s public offering was conducted on May 17-18, 2018, and the allotment period on May 21, 2018. With the offering….