Bakrieland in Red Still

Whilst half of the previous year, PT Bakrieland Development Tbk (ELTY), property arm of Bakrie Group, booked net loss of Rp271.5 billion in 2017. The Company reported 26% fall in sales revenue to Rp1.24 trillion, while gross profit down 6.7%.

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Stocks to Watch

Shares of newly-listed Indah Prakarsa Sentosa (INPS) gained 50% to Rp414 on its trading debut on Friday last week (April 6), from its IPO price of Rp276. The Company, engaging in wholesale, distribution and logistics services provider of fuel, lubricant, and LPG, offered 650 million shares through the initial public offering (IPO), raising Rp41.4 billion proceeds. Its market capitalization reached Rp179.4 billion.

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Corporate Actions to Watch

Bakrieland Development (ELTY) has finally completed the restructuring of US$155 million bond debt, equivalent Rp1.09 trillion, issued by its Singapore-based subsidiary, BLD Investments Pte. Ltd. The said bond carries an annual coupon rate of 8.625%.

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