Author: yosefardi.com

Waskita Karya: Toll Road Projects & The Balance Sheet

Waskita Karya (WSKT) was a company with total assets of less than US$1 billion by the end of 2014. By March 31, 2018, the Company’s total assets already reached Rp111 trillion or around US$8 billion following its expansion into toll road business. Equity reached Rp24.5 trillion by March 2018, ten times the amount recorded in Dec 2014.

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Jokowi & Indosat, Four Years Later

Sunday, June 22, 2014 at Holiday Inn Hotel, Jakarta, then president candidate Joko ‘Jokowi’ Widodo said he would buyback Indosat (ISAT). “To do that, the economy shall grow 7%,” he said. Until now, however, Jokowi yet to implement the plan. “Because the economy grew only 5% per annum in the past three years,” one government officer jokingly argued.

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Mixed Results in First Quarter

Unilever Indonesia (UNVR), market leader for consumer goods, recorded sales revenue of Rp10.75 trillion only in the first quarter ended March 31, 2018, down 0.9% from the corresponding period last year. Both home and personal care and foods and refreshment segments reported flat growth in the period.

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Govt Raises $2 Billion from Dual Currencies Bond Sale

Government has raised US$1 billion and one billion Euro ($1.24 billion) in a dual-currency bond sale, the finance ministry said in statement on Friday (April 20). The Euro denominated 7-year tranche due April 24, 2025 was priced at a coupon of 1.750% –the lowest coupon in the Euro market till date– yielding of 115 basis points over the 7-year mid swap rate or 1.780%. The Euro 7-year notes marks the republic’s fifth issuance in the Euro Market and its first U. S SEC-registered Euro Issuance. While, the U.S dollar denominated 10-year tranche due April 24, 2028 was priced at a coupon of 4.100% and a yield of 4.130% from initial price guidance 4.400%. The issuance also marks the country’s second dual currency transaction, following previous one in July, 2017. At that year, government has successfully raised 100 billion yen from the Samurai bonds sale and 1 billion Euro from the Euro...

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Hainan to Offer Visa-free Access to Tourists from 59 Countries

China will offer greater visa-free access for tourists from 59 countries to Hainan from May 1, in a move to support reform and opening up in the country’s southernmost island province, the State Immigration Administration announced Wednesday last week. Hainan has offered a 15-day visa-free stay for group tourists from 21 countries since 2000, and added another five countries to the list in 2010. Last year, Hainan received nearly 320,000 tourists from the 26 countries with visa-free access, 3.5 times the number recorded in 2016. Tourists from Indonesia, Kazakhstan, Malaysia, the Republic of Korea (ROK) and Russia accounted for more than 90 percent of the...

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MSL Expands Footprint in ASEAN Countries

MSL, in conjunction with Publicis One, announced the expansion of the MSL brand to Malaysia and Indonesia with the renaming of existing Publicis-owned PR units as MSL. The new units join other MSL offices in the Philippines, Singapore, Thailand and Vietnam in Southeast Asia, giving MSL the most complete and consistent network of wholly-owned and branded PR agencies in the region. In Indonesia, Leo PR will rebrand to MSL on May...

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Pelindo 3 Boosts Ownerships in Cruise Line Provider

State-owned port operator PT Pelabuhan Indonesia (Pelindo) 3 increased its ownership in PT Alur Pelayaran Barat Surabaya (APBS), a management of the cruise line provider in East Java. No further details on the values of the transaction. The joint venture company is own by Pelindo 3 together with Netherland dredging company Van Oord and ship operator PT Gerbang Samudera Utama. Pelindo 3 has increased its ownership in APBS, a port developer by 30%, which added its control in the port builder to 90% through its subsidiary PT Pelindo Marine...

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Car Export Rose Sharply in 2017

The automotive industry in Indonesia is experiencing rapid growth in 2017. The country targeting the car production will increase to 1.5 million units in 2020. Last year, Indonesia’s cars rose up to 13-fold, from 6.2 million pieces in 2016 to 81 million unit in 2017. The minister Airlangga Hartarto explained, most of these exports consist of the completely knocked down (CKD) products while the completely built up (CBU) export increase from 194,000 in 2016 to 231,000 pieces in 2017. Indonesia has not an issue to boost automotive export capacity due to the sufficient production of a local automotive industry that reached 2,20 million units annually in 2017. Indonesia’s car production capacity jumped 70% over the past six...

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