Daily Focus

Indonesia Daily Focus
Nov 21, 2016
Local flash
ADHI: Adhi Karya won contracts Mampang-Kuningan underpass. PT Adhi Karya
(Persero) Tbk obtained a contract worth IDR202.21 billion of Mampang-Kuningan
underpass construction project in Jakarta. Corporate Secretary of Adhi Karya Ki
Syahgolang Permata explained that the owner of the project is Dinas Bina Marga
Provinsi DKI Jakarta. The work scope of the project for Adhi Karya is a design and build)
with a construction period of 392 days. (Bisnis Indonesia)
HMSP: HM Sampoerna allocated a capex of IDR1 trillion next year. PT HM
Sampoerna Tbk (HMSP) prepared a capital expenditure next year of about IDR1 trillion.
It is relatively the same with the budget has been disbursed this year. "There is no
expansion, just to support future business such as the production engine upgrade to
increase capacity," said Senior Manager of Philip Morris International Inc. (PMI) Paul
Janelle. The allocation is also expected to boost sales volume. (Kontan)
KIJA: Jababeka and PP Properti establish a joint ventures to develop land. A
subsidiary of PT Kawasan Industri Jababeka Tbk (KIJA), PT Grahabuana Cikarang has
set up a joint venture with PT PP Properti Tbk (PPRO). According to Budianto Liman,
Director of KIJA, the joint venture company named PT PP Properti Jababeka Residen.
The joint venture company has a paid up capital of IDR220.53 billion shares with PT PP
Properti Tbk has 52.6% of ownership and PT Grahabuana Cikarang 47.5%. (Iqplus)
BBYB: Asabri continue to add stake in Bank Yudha Bhakti. PT Asuransi Sosial
Angkatan Bersenjata Republik Indonesia (Asabri) increased its interest in Bank Yudha
Bhakti. Based on Bank Yudha Bakti information to the Indonesian Stock Exchange, the
additional shares recorded at 400 million shares. So that on 16 November 2016,
Asabri's shares in Bank Yudha Bhakti increase to 28.05% from 18.11%. (Iqplus)
BSIM: Bank Sinarmas to maintain NPL ratio below 2% in 2017. PT Bank Sinarmas Tbk
(BSIM) plans to restructure the loans in property sector and mining. This was done
because of the swelling in the ratio of non performing loans (NPL). The company's
gross NPLs increased to 3.45% from 2.27%. Director of BSIM Freenyan Liwang believe
that through the restructuring, the credit quality will be better. (Iqplus)
LTLS: Lautan Luas aiming for revenue growth of 15%. Distributors and manufacturers
of chemicals PT Lautan Luas Tbk (LTLS) predicts that its revenue could grow by at least
15% next year. This is because there are a number of new products that will be
launched next year. "In addition to new products, LNK also start operating next year so
that it could support our growth," said Managing Director LTLS Joshua Chandraputra
Asali. Management predicts that the company will record a revenue of IDR7 trillion.
Thus, at least LTLS targets revenue of IDR8 trillion. (Kontan)
Daewoo Securities Indonesia Research
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