Campina Ice Cream Gains 132%, Overshoot?
Shares of ice cream producer PT Campina Ice Cream Industry (CAMP) Tbk advanced further to Rp765 this morning. That means the stock already gained 132% from its initial public offering (IPO) price few days ago. At the last quoted price, Campina has market capitalization of Rp4.5 trillion, more than five times its enlarged equity. That much?
Telco Tower Politics in Jakarta
PT MRT Jakarta has appointed PT Tower Bersama Infrastruktur Tbk (TBIG), a company controlled by Edwin Soeryadjaya’s Saratoga, as provider of telecommunication services and WiFi for the city’s mass rapid transit (MRT). Separately, supporters of Anies-Sandi in the Jakarta Legislative Council (DPRD) started to make noise about micro cell poles (MCPs) in the city.
More Foreign Investments in Indonesian Property
Two companies listed on the Singapore Exchange have today made separate acquisition announcements. ABR Land (S) Pte Ltd, subsidiary of ABR Holdings Limited, has entered into a conditional sale and purchase agreement with Resort Venture Pte Ltd regarding acquisition of 50% shares in PT Bintan Lagoon Resort.
Infrastructure Journal: PPP Scheme Projects
President Joko ‘Jokowi’ Widodo will be in East Java today to inaugurate commercial operation of three sections of Surabaya-Mojokerto toll road. In the province, PT Meta Adhya Tirta Umbulan, controlled by Medco Group, reported strong progress of the long delayed Umbulan water pipeline project.
Infrastructure Journal
President Joko ‘Jokowi’ Widodo is scheduled to inaugurate three sections to complete the Surabaya-Mojokerto (36.27 KM) toll road, whose development started in 2007, Tuesday (Dec 19). This becomes the 11th toll road inaugurated by the President this year, and marks the completion of East Java section of the trans-Java toll road program.
Those Continue to Expand in Indonesia
Crown Asia Pacific, a division of Crown Holdings, Inc., has just celebrated the opening of its new beverage can manufacturing plant in Jakarta, Indonesia last week. The facility is Crown’s 16th beverage can plant in the Asia Pacific region and its first in Indonesia. Other companies in this report are Wilmar, Toyota Tsusho, and Sango.
Mitr Phol Heats Up Competition in Sugar Industry
Mitr Phol Group, the world’s fourth largest and Asia’s largest sugar producer, has decided to acquire 50% shares in Far East Agri, a wholly-owned subsidiary of Olam International Ltd, which operates a sugar refinery in Indonesia through PT Dharmapala Usaha Sukses (DUS).
Toll Road Projects Update
Looks like that construction of first section in Padang-Pekanbaru (240 KM) toll road in Sumatra Island will start next year. State-owned EPC firm assigned to develop trans-Sumatra, PT Hutama Karya has just this morning invited consultants for review of basic design and documentation planning for land acquisition.
Policy to Watch for Integrated Poultry & F&B Players
Shares of Charoen Pokphand Indonesia (CPIN) surged 8% to Rp3,380 Wednesday (Dec 13), while Japfa Comfeed (JPFA) gained 3.7%. Malindo Feedmill (MAIN) also ended higher by 1.32%. Still, this is not the year for integrated poultry players. With the exception of CPIN, two other players lost ground year-to-date. Unfortunately, 2018 might be even more challenging.
Nanshan Aluminium Boosts Credibility of Indonesian Project
It is long overdue. It is also way below the initial plan to invest US$5 billion in an integrated alumina-aluminium facility in Bintan Island, Indonesia. Still, the country has every reason to be optimistic about future of mineral processing industry because shareholders of Shandong Nanshan Aluminium have finally approved its alumina project in Indonesia.