Bank Woori buys 33% stake in Bank Saudara

PT Bank Woori Indonesia, a subsidiary of South Korea-based Woori Bank Korea, today announced its plan to take over 33% stake or 764.40 million shares in PT Bank Himpunan Saudara 1906 Tbk (SDRA).

Itacha Resources buys Sarana Marine

Coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha will acquire 400 shares in PT Sarana Marine Perkasa, located in Samarina, Kalimantan.

Soedono Salim & First Pacific Company

Liem Sioe Liong (Soedono Salim or people call him with Om Liem) has passed away on 3.08 pm yesterday in Singapore at 97 years old.

Stock recommendations today

On the heels of posting the worst weekly performance of 2012, the markets zoomed higher this week on hopes policymakers may be willing to take action to buoy ailing world economies.

Darma Henwa to spend US$120 mio capex

Indonesia's second largest coal contractor PT Darma Henwa Tbk (DEWA) plans to spend US$120 million capital expenditure (capex) this year.

Delta Dunia to issue 570.39 mio new shares

Indonesia second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) aims to hold nonpreemptive rights by issuing 570.39 million new shares of 7% of its capital paid in to employees and its directors and PT Bukit Makmur Mandiri Utama (BUMA).

Bentoel weighs 3 options for bonds refinancing

Cigarette maker PT Bentoel Internasional Investama Tbk (RMBA) is weighing three options of bonds refinancing worth Rp1.35 trillion maturing in November this year.

Stock recommendations today

A Fitch Ratings executive said Thursday that the firm would likely downgrade US debt if the federal government does not get its fiscal house in order.

Bakrie Telecom bond payment remains uncertain

PT Pemeringkat Efek Indonesia (Pefindo) assigned its ratings of idBB for PT Bakrie Telecom Tbk (BTEL) and its maturing Bond I/2007 of RpR650 billion due September 4, 2012.

Sarana Menara & non preemptive rights

Telecommunication tower operator PT Sarana Menara Nusantara Tbk (TOWR), controlled by Djarum's Hartono family, reported that it will issue 102 million new shares in non preemptive rights (or 10% of enlarged capital). 

Reswara seals contract from Guangzhou Huaneng

PT Reswara Minergi Hartama, an integrated coal company and subsidiary of Hamami's PT ABM Investama Tbk (ABMM), has secured a coal sales contract of 500,000 metric tons from Guangzhou Huaneng Trading Co Ltd with estimation of delivery period in June to December 2012.

J.P. Morgan names Sugirin as head of treasury

J.P. Morgan has today announced that it has appointed Michael Sugirin as Head of Treasury Services for Indonesia.

Tunas Baru scouts Rp500 bio profit in 2012

Palm oil producer PT Tunas Baru Lampung Tbk (TBLA) is scouting a Rp500 billion net profit this year, a 18.76% higher than Rp421 billion last year.

Trisula International IPO set at Rp250-Rp300

A new debut in the primary stock market dubbed PT Trisula International Tbk revealed that it has already tied up with an anchor buyers, signaling its initial public offering won't deter some problems.

Stock recommendations today

The Dow ended the day modestly higher on the back of a report showing the service sector expanded more quickly than expected last month, coming as a rare bright spot amid a sea of gloomy economic data.