BW Plantation rights issue at 60% discount?

A palm oil producer PT BW Plantation Tbk (BWPT), controlled by Budiono Widodo family, may put exercise price of preemptive rights at about Rp400 a share, nearly 60% discount from the latest market price prior to suspended by Indonesia Stock Exchange at Rp955 a share.

Peter Sondakh & BW Plantation backdoor listing

Tjipto Widodo, former president commissioner of PT BW Plantation Tbk (BWPT), won't see that BWPT may become a company with market capitalization of Rp15 trillion-Rp16,3 trillion soon. Tjipto, the fourth son of Budiono Widodo,  and owner of BW Plantation, fled his position in June 2014 following the shares sale of the company to two special purpose vehicles (SPV) dubbed Matacuna and Pegasus CP One, controlled by Peter Sondakh, via PT Rajawali Corpora.

BBM broadcast on Gading Development

On Wednesday morning this week, I got a BBM broadcast from two colleagues. They're working at a state-owned brokerage and a private brokerage. In their BBM, they sent me a small part of the story of PT Gading Development Tbk (GAMA), which is now in the watch list of Indonesia Stock Exchange. The story is actually a small part of entire GAMA article that I have written at Bloomberg Businessweek Indonesia magazine this week edition. After copying the part of the GAMA article, he asked me, "is it true?" 

Hello dear readers

It has been nearly two years after my last article at this blog. Sometimes, I really miss to write and to express on many things related with publicly listed companies. But, I have to comply with the agreement I have signed before I left my previous job with Bisnis Indonesia.

Writing articles on companies, in both positively and negatively tones, has so far enriched me how to learn making an interesting stories. It is not just about following the basic concept of journalistic such as 5W and 1H, but also sharpening my analysis skills to put all missing parts of the entire event of corporate actions into an intact stories.

Based on my experiences, some publicly listed companies sometimes filed incomplete disclosure to Indonesia Stock Exchange's website. They like using special purpose vehicles such as incorporated in British Virgin Islands or Cayman Islands in doing transactions. Sometimes they don't disclose the takeover price or they use the same persons to do several deals and just change their first or second names. It is really funny. As long as you are detail, you might see the big picture of the deals. 

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.