Corporate Actions to Watch

Bank Negara Indonesia (BBNI) plans to issue subordinated bonds (subdebt) this year for complying with regulation on capital as a systemic bank. Some banks have planned for offering the convertible bonds for the said interest ruled by the Financial Services Authority (OJK) through (POJK) Number 14/POJK.03/2017.

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Scrutinizing Pension Funds of SOEs (2)

PT Harvest Time, subsidiary of Hanson International (MYRX), expects to get Rp500 billion from initial public offering (IPO) of up to 15% shares. The stock is valued significantly lower than the amount of money invested by Asabri, a state-owned insurance company for military and police officers.

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Ratu Prabu and the US$26 billion LRT Project

Sandiaga Uno, Vice Governor of Jakarta recently told the press that PT Ratu Prabu Energi Tbk (ARTI), a company with businesses in energy and property, will develop light rail transit (LRT) project in Greater Jakarta dan surrounding cities (200 KM) with investment of US$26 billion. Some, however, questioned credibility of the plan.

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Market Rally

Global markets are on the cusp of their best week as investors around the world pile into equities at the start of 2018, amid robust economic data from the U.S., Europe, and China, Bloomberg reported. U.S. stocks extended rally on Thursday (Jan. 4) with all 3 main stock indexes reaching record highs. Investors’ mood improved after the ADP report showed U.S. companies hired 250K workers in December, the most jobs in 9 months and beating expectations of 190K.

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