Today’s contents
News
Economics
Govt plans fiscal stimulus amid uncertainties in global economy
Indonesia to take on China in gas talks
Corporate-related
Toyota Astra predicts 2011 car sales will leave target in dust
Telkom preparing to buy shares back from Singtel
XL Axiata seeks Rp10t in loans to pay off debt
Lippo says it will pay Rp 150b in dividends
Podomoro eyes W. Jakarta project after buying stake
Nusantara says acquisition of new projects is matter of months
Economics
Govt plans fiscal stimulus amid uncertainties in global economy (Jakarta Post) The govt plans to introduce a fiscal stimulus to spur growth next year as uncertainties in the global economy may drag down the country’s economy, MoF Agus said. He declined to give details of the planned stimulus package, but his acting chief at the finance ministry said it would combine “fresh money and policies”.
Indonesia to take on China in gas talks (Jakarta Globe) After successfully renegotiating the gas price with Petronas two months ago, the govt is now stepping up its efforts to talk with another buyer, CNOOC. Indonesia is seeking to raise the price paid by CNOOC for gas from a plant in Tangguh, West Papua, by 400%, said Hatta Rajasa, the coordinating minister for economic affairs. The government wants to raise the gas price to US$12/mmbtu, from the current US$2.40/ mmbtu.
Corporate-related
Toyota Astra predicts 2011 car sales will leave target in dust (Jakarta Globe) This year’s car sales may exceed the Indonesia Car Industry Association’s estimate of 850k units on the back of strong sales, TAM has predicted. Joko, TAM’s marketing director, said that as of Aug, aggregate national sales had reach 580k units. With four months left in calendar, sales could reach a new record high of 900k units.
Telkom preparing to buy shares back from Singtel (Jakarta Post) Telkom Indonesia will soon appoint local and foreign financial appraisers to help the company assess its plan to buy back SingTel’s 35% stake in Telkomsel, the CEO said. He added that Bahana Securities and four financial advisors from the US had been picked to take part in the selection process.
XL Axiata seeks Rp10t in loans to pay off debt (Jakarta Globe) XL Axiata is seeking Rp10t in bank loans over the next three months to help it refinance debt that is due to be repaid in the next three years. XL Axiata reached 39m subscribers in June, compared to Telkomsel’s 102m and Indosat’s 44m.
Lippo says it will pay Rp 150b in dividends (Jakarta Globe) Lippo Karawaci announced dividend payouts of Rp 150b (US$17.1m), which represent 29% of the company’s net income last year. The company will pay total dividends of Rp 7.21/share for financial year 2010, reflecting a yield of one percent at a share price of Rp 720/share.
Podomoro eyes W. Jakarta project after buying stake (Jakarta Globe) Agung Podomoro Land has bought an 80% stake in fellow developer Alam Hijau Teduh for Rp56b (US$6.4m). Podomoro says Alam’s major asset, a two hectare site in West Jakarta, will be used to develop residential properties and a commercial complex.
Nusantara says acquisition of new projects is matter of months (Jakarta Globe) Nusantara Infrastructure expects to complete acquisition of three projects by Oct or Nov, one of its directors said. It is in the middle of acquiring three infrastructure projects on Java – two clean-water supply projects and a half-completed port project. Nusantara has set aside US$250m this year for the acquisitions.
source: BNP PARIBAS dated 16 September 2011
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