Revisiting Bumi Resources
Bumi Resources (BUMI), the largest coal group in Indonesia, booked net profit of US$263.8 million in Jan-Sep 2017, skyrocketed 261% from the corresponding period last year due to stronger performance of coal producing subsidiaries PT Kaltim Prima Coal, PT Arutmin Indonesia, and PT Darma Henwa Tbk (DEWA), falling interest charges, write-off of tax, and settlement on debt restructuring.
Coal Group to Watch: Borneo Pacific Global
National media reported today that PT Borneo Pasifik Global sets aside US$50 million of capital expenditures next year for the acquisition of three coal mining permits (IUP) in South Kalimantan. The group also plans to double its production next year.
Revisiting BFI Finance
Consumer finance and leasing company PT BFI Finance Indonesia Tbk (BFIN) is among the best performing stocks with 100% gain year-to-date. It is also one of the most profitable companies in the industry with net profit of Rp842 billion in the first nine months of 2017, surged by 52% from the corresponding period last year.
Those Continue to Expand: Pupuk Kaltim
PT Pupuk Kalimantan Timur (Pupuk Kaltim), a subsidiary of state-owned fertilizer holding company PT Pupuk Indonesia, is among the most profitable companies in Indonesia. Like other state companies, Pupuk Kaltim continues to expand its production capacity for ammonia, urea, and compound fertilizers. In 2015-2016, the Company invested nearly Rp2 trillion of its cash in investing activities, mostly to procure new factories.
Salim Group & The Future of META (4)
Metro Pacific Investments Corp (MPIC), a company co-owned by Salim Group, has finally confirmed our earlier reports about acquisition of 47.08% shares in PT Nusantara Infrastructure Tbk (META) for US$132 million. The Philippines media quoted Rodrigo E Franco, CEO of MTPC, saying the acquisition will support the current management in its future growth.
IPO to Watch: Panca Budi
Plastic producer PT Panca Budi Idaman Tbk has kicked off initial public offering (IPO) of 738.8 million shares, proceeds of which will mostly be used to expand production capacity of factories. PT Bahana Sekuritas, PT BCA Sekuritas, and PT CIMB Sekuritas Indonesia are underwriters of the IPO.
Property Player to Watch: Roda Vivatex
Used to be one of pioneers of textile industry in Indonesia, Roda Vivatex (RDTX) has expanded its property business after leaving textile business three years ago. RDTX informed market authorities on Monday (Oct 23) that one of its subsidiaries, PT Chitatex Peni, has signed agreement with Sinarmas Group’s Bumi Serpong Damai (BSDE) and PT Serasi Niaga Sakti for another property project in Serpong, Banten province.
Property Player to Watch: Stareast Group
Stareast Group, as described by its website, is an Indonesian based private investment firm engaged in various industries such as real estate, hospitality, asset management, transportation, and retail businesses. The group is also partner of Tommy Soeharto (Humpuss Group) in developing Pecatu Indah Resort project, a resort complex in the south of Bali Island with 400 ha of areas. Who’s behind?
Ilham Habibie & Bank Muamalat
It is official! As we reported two weeks ago, Ilham Habibie, son of Indonesia’s third president BJ Habibie, is the man behind Minna Padi Investama’s acquisition of 51% shares in Bank Muamalat, pioneer of sharia banking in Indonesia. Given Ilham’s background, he is certainly supported by wealthy investors.
Big Groups in Financial & Technology Ventures (2): Sinarmas Group
Sinarmas is one of the largest business groups in Indonesia with interest in agriculture, energy, finance, forestry, mining, multimedia, property, and telecommunication. The group has also entered digital ventures, and, in fact, secured fintech license from the Financial Services Authority (OJK) last July.