Day: December 6, 2018

Nusantara Infrastructure (META) plans to offer 2.47 billion new shares, representing 14% of its enlarged capital, through preemptive rights scheme, priced at Rp200 per unit, to raise total proceeds of Rp495 billion. PT Metro Pacific Tollways Indonesia (NPTI) which controls 72.94% META shares have committed to exercise its rights portion. Trading of rights is scheduled for December 17-21, 2018.

Some companies listed on the Indonesia Stock Exchange (IDX) are more optimistic with the business prospect in 2019, as they are expecting a smooth general election next year. The global economy is also predicted to be more conducive in line with the soft trade tension between the U.S. and China. The normalization of Fed rate policy, which will end next year, also supports the belief in good prospects next year.

Ancora Indonesia Resources (OKAS), founded by former Minister of Trade Gita Wirjawan, is preparing to restructure its debt of US$12 million and the US$50 million debt of PT Multi Nitrotama Kimia (its subsidiary). The Company is now in talks with its creditors.

Minister of finance Sri Mulyani Indrawati said the State revenue in 2018 will likely reach Rp1,936 trillion, above the target set in the State Budget 2018 (Rp1,894 trillion). This will be the first time in years that the realized revenues surpassing target while most economists predicted a shortfall.