Refishowcase Business & Finance

PT Benakat Petroleum Energy Tbk (BBP) offers a prime shares earlier this year with a target to raise at least USD 1 trillion. Revenue funds from the sale of shares and warrants will be used for investment and working capital.

PT Benakat Petroleum is an energy company in Indonesia with a focus on increasing value through upstream oil and gas development and mining of various commodities coupled with engineering services, procurement and construction (EPC).

Benakat management along with managing underwriters emission shares have agreed to offer as much as 11.5 billion of new shares to the public offering price range of USD 120-USD 140 per share, in which for all the issued shares of warrants attached to as many as 6.5 billion in warrants.

Thus, the target acquisition IPO funds will be obtained a minimum of Rp 1 trillion for the ownership share of 38.34 percent. PT Danatama Makmur acting as underwriters managing the stock of emissions with the full capability of the entire issued shares. If the excess demand, then the party examine the possibility of removing Benakat additional same again.

According to President Director Benakat Wiguna Arifin, in a press conference on Wednesday (27 / 1), the Jak arta, income from the sale of fund shares and warrants will be used for investment and working capital, among others for the construction of oil and gas production facilities, coal, and stone manganese. The fund is also for the purchase of supporting equipment pr oduksi, and maximize return on the invested value.

Due Dilligence Meeting (DDM) and the public exposure made with Danatama Benakat as part of the initial offering period in the process of IPO shares, which performed to explore the initial interest from prospective investors both retail and institutional want any prospective underwriter of shares. Initial bidding process lasted from January 19 until January 28, 2010, with a target stock listing on the Stock Exchange is planned for Indonesia February 11, 2010.

We are optimistic Benakat IPO will get a positive response from various groups of investors both domestic and international. This can be seen from the positive response we got during the roadshows in several countries including Singapore and Hong Kong we have done, said Steffen Fang, Vice President of Investment Banking of PT Danatama Makmur.

Steffen added that oil and gas sector is believed to still be a prima donna and the mainstay of investment and has a bright prospect in line with national economic growth is conducive. This will encourage companies to get a regular cash flow and be one of the attractions for potential investors.

One of the maximum potential energy sources affiliated companies owned by PT Western Petroleum Benakat who has been working with PT Pertamina EP through cooperation contract to manage operations ar ea Benakat oil field operations West, Prabumulih, South Sumatra Province, the oil production areas of oil field operations West Benakat current average of 2000 barrels per day which will be increased to be 4000 barrels per day by the end of 2010.

Vice President Director Benakat M Suluhuddin Noor, said, since the takeover of management of the operating area of the West Benakat by BBP, BBP has increased production from the 77 existing production wells, from about 1,500 barrels of oil per day to about 2,000 barrels of oil per day within 6 months. Based on its development plan, PT BBP estimates of oil production more than 25 million barrels for a period of 15 years.

Disposal of shares of prime (initial public offering / IPO) of PT PP (Persero) Tbk recorded excess demand (oversubscribed) 1.7 times as many shares with a value of more than Rp 900 billion. Thus disclosed Faith Rachman, Director-Head of Investment Banking of PT Mandiri Securities as the underwriters managing emissions.

Roadshow program to Hong Kong and Singapore, there are two prominent investment firms that have expressed interest in the shares of PT PP, namely Fidelity and Pheim Asset Management. “This has become a strong indication of confidence among foreign investors on the performance and company performance to the front, where for the foreign investors will be allocated about 20 percent of total emissions,” said Iman Rachman.

In addition to foreign investors, domestic investors are also interested in the shares of PT PP. PT Jamsostek is one who has expressed interest in buying the confirmation of PT PP.

PT PP has received an effective statement from Bapepam do an IPO on January 29, 2010. The Company started the bidding held on February 13, 2010 and continued with the recording of prime stock on 9 February 2010.

With the stock offering price of Rp 560 per share, PT PP would reap about 581 billion from the IPO. To launch an IPO programs, PT PP pointed 3 securities companies, namely PT Mandiri Securities, PT Danareksa Securities, and Indonesia DBS Vickers Securities.

The fund company will be obtained will be used for investment in energy sector, construction and property, and strengthen corporate working capital.

PT PP get a new contract worth USD 6 trillion in 2009 and the company also noted the carry over in 2010 about Rp 4 trillion. Corporate income in 2007 was Rp 3.2 trillion, in 2008 increased to $ 3, 9 trillion, and in the year 2009 is estimated to reach Rp 4.2 trillion. The net profit in 2007 was Rp 92.98 billion, in 2008 amounted to Rp 121.61 billion, and the year 2009 estimated at about Rp 163 billion.

Building projects to be the largest revenue contributor of PP in 2008, which is as much as 73.72 percent. The next work of roads and bridges as much as 10.44 percent, 5.39 percent of irrigation, and the port as much as 5.06 percent.

In the midst of the global stock market red, Indonesia Stock Exchange on Wednesday (27/1/2010) early successful step in the green zone.

At 09.34, Composite Stock Price Index rose the first session, or 0.48 percent of 12.28 points to 2590.69. Miscellaneous trade and industry to support the index rate at the beginning of this trade.

JCI yesterday slipped 0.75 percent to 2578.42 position. According to Panin Securities research analyst, Purwoko Sartono, China plans to tighten the distribution of credit to negative sentiment for the regional exchanges in trade yesterday. Investors worried that the policy will affect the shrinking of liquidity from the market for the short term. “However, we estimate the impact of this policy did not last long,” he said.

He mentioned, in the middle of selling pressure on shares of superior, he saw an opportunity to do selective buy the stocks that have entered the oversold area. In addition, he continued, the national economic outlook is brighter still a magnet for investors / foreign funds to enter Indonesia.

“The technical, we expect the index will test support level of 2553-2566. While the resistance is in the range of 2600-2617,” he said.

world economic recovery in 2010 will also affect the growth of domestic investment that is expected to grow by 4.1 percent. However, predictions of growth rate of investment portfolio and direct investment will be different.

For the investment portfolio will be relatively high growth does not differ greatly with the year 2009. However, for direct investment, although the election has passed, the global economic situation in the country and still be vulnerable in 2010, “said Hendri Saparini Econit economist, in a book Econit Economic Outlook 2010 Legal quoted, in Jakarta, Saturday (16/1/2010 ).

On the other hand, already since the last five years there was no significant improvement in the investment climate so that the predicted foreign investors would return choose to hold direct investment. Last year foreign investment (FDI) it will experience negative growth of 28 percent while domestic investment (PMDN) will remain positive.

“2010 investment barriers are quite a lot. In addition to infrastructure facilities are not adequate, nor the existence of legal certainty and corruption that resulted in a high cost economy, “he added.

Entering the year 2010, the government of SBY very confident, that positive growth is the government’s achievements in managing the economy. So that will be a big capital to promote economic growth in 2010. Even the mention of economic growth in 2010 is not only encouraged but also private consumption growth of investment.

Thus, optimism for the targets will be achieved based on the strategy of ministers in the United Indonesia Cabinet II to eliminate the problem of investment barriers in Indonesia.

Bank Indonesia (BI) confirmed, despite the liquidity crisis, but Indonesia’s financial markets are relatively better than the U.S..

It is said BI Senior Deputy Governor Miranda Goeltom, during a press conference at the Treasury Building, Jakarta, Thursday (9/10/2008).

“As stated in various occasions, BI see the economic conditions currently experienced by Indonesia, which is still better than some countries already experiencing a recession,” he said.

However, liquidity remains necessary, so that in carrying out activities that are risky banks can still run.

In addition, BI will be to socialize the banks of the rules agreed upon Indonesian Institute of Accountants, need not be related to mark-to-market for all securities dimiilki banks.

“That means that will help banks in managing liquidity or financial portfolio,” he concluded.