Astra Agro 1M CPO output up 6.4%

Palm oil player PT Astra Agro Lestari Tbk (AALI) reported a 6.4% increase in CPO production to 98,042 tons in January this year from 92,116 tons a year earlier.

The rise of the CPO production was aligned with a 6.6% increase in fresh fruit bunch (FFB) production from 345,448 tons in the same period last year to 368,299 tons.

Based on the FFB production composition, during January 2012, Sumatra region contributed 43.3% of the total Astra Agro's FFB production, while Kalimantan and Sulawesi region contributed 37.2% and 19.5% respectively.

Disclosure: No position at the stock mentioned above.

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IFC to convert loan into BTPN shares

PT Bank Tabungan Pensiunan Nasional Tbk (BTPN), that is controlled by Northstar Pacific Partners, today announced that International Finance Corporation (IFC) intends to convert a Rp139.46 billion loan channeled to BTPN into new shares.

In an official statement published today, IFC has sent a conversion notice to the management of BTPN regarding an intention to convert the loan into the bank's new shares.

Referring to the convertible loan agreement, BTPN plans to issue 176.67 million new shares to IFC. Regarding to the conversion, the ratio is Rp789.38 a share.

However, BTPN on last Friday was closed 0.73% higher to Rp3,450 a share.

Disclosure: No position at the stock mentioned above.

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Stock recommendations today

Edging closer to the 13000 mark, the Dow finished the week with solid gains on Friday as Wall Street bets Greece will finally receive its long-awaited bailout, but the Nasdaq Composite failed to join the party.

The Dow Jones Industrial Average, as quoted by foxbusiness.com, climbed 45.56 points, or 0.35%, to 12,949.64, the S&P 500 gained 3.17 points, or 0.23%, to 1361.21 and the Nasdaq Composite fell 8.07 points, or 0.27%, to 2951.78.

The gains in the broader markets leave the Dow at its highest level since May 2008 and just 50 points away from the 13000 threshold, which carries psychological importance for investors. 

Continuing their strong start to 2012 amid growing economic hopes, all three major indexes landed in the green this week, marking their sixth weekly gain of the last seven. 

The latest bullishness comes as market participants are growing increasingly confident Greece will be able to avoid a default on its debt that analysts fear would deal a serious blow to the European financial system. 

In a significant development, the European Central Bank has swapped some of its Greek bond holdings for new ones, according to a report by Dow Jones Newswires. 

This shows the central bank's commitment to helping Greece reduce its debt load and take broader actions to help control the eurozone debt crisis.

Potentially, the ECB move could make way for a similar exchange by private creditors early next week. More importantly, perhaps, eurozone finance chiefs are expected to sign off on a $171 billion bailout package as early as Monday, according to reports. Still, the situation remains fluid and analysts note seemingly-secure deals have repeatedly fallen apart at the last minute in the past.

How about Indonesia stock market today? Bisnis Indonesia provides recommendations:

Sinarmas Sekuritas:

Technically, Jakarta Composite Index (JCI) tends to strengthen within the range of 3,950-4,010. Several stocks to monitor: AALI, ASII, GJTL, and HRUM.

e-Trading Securities:

Today, the JCI may move within the range of 3,938-4.016 with uptrend position. MYOR, ISAT, and BBNI should be watched.

Panin Sekuritas:

The JCI this week is still shadowed by external factors. Investor is anticipating the announcement of 2011's financial result. The index may move within the support-resistance level of 3,952-3,997.

Reliance Securities:

Technically, the JCI may rally today. We recommend buy for ASII and sell for SGRO.

Disclosure: No position at the stock mentioned above.  

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Berau Coal & 3.40 bio shares issuance

PT Berau Coal Energy Tbk (BRAU) is seeking an approval from its shareholders regarding to a transfer authority to board of commissioner for 3.40 billion of new shares issuance or nearly 10% of outstanding shares.

Such matter will be discussed during an extraordinary general meeting (EGM) with two other agendas, said Berau's management in a disclosure to Indonesia Stock Exchange late last week.

Referring to the last week's closing level at Rp420, Berau Coal might secure Rp1.43 trillion cash from the shares issuance.

The new shares issuance has been scheduled after the initial public offering. However, the disclosure has not revealed more detail information of the new shares issuance.

Pursuant to 41 article of regulation No.40/2007 about limited company, the authority is effective within 1 year.

However, the commissioner has not exercised the authority. Hence, the company needs to delegate the authority to the commissioner.

The EGM is seeking approvals for a US$500 million bond issuance and pledge from the company to bond holders.

Disclosure: No position at the stock mentioned above.  

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