Sun Sell to Foreign
Company Info July 19th, 2010
Starting today, Matahari Department Store outlets are no longer identical with the Lippo Group. Last weekend, through PT Matahari Putra Prima Tbk (MPPA), Lippo hand over 2.65 billion shares, equivalent to 90.76 per cent stake in PT Matahari Department Store Tbk (LPPF) to Meadow Asia Co. Ltd..
Sales price of USD $ 2705.33 per share or 100 percent higher than the stock price on the bourses LPPF day before the deal was signed. MPPA earned Rp 7.2 trillion from these sales.
Meadow is a joint venture MPPA and CVC Capital Partners. However, MPPA has only 20 percent and 80 percent of CVC tucks LPPF shares. CVC is an international fund management companies which entered the ranks Top Five. Kelolaannya funds reached 46 billion U.S. dollars.
Indeed, indications plan Matahari Department Store sales have emerged since September 2009. At that time, MPPA business unit to sell assets of his department store to PT Pacific Utama Tbk. Sales value of inventory, equipment and supplies business, and the right to lease the space efforts of middle-class retailers below Rp 430.06 billion.
Pacific bought the business unit with the money of the issuance of new shares equal to the value of the acquisition. Later, renamed Pacific maternity Matahari Department Store. However, these companies remain Lippo Group affiliate companies and the representative of the MPPA.
Benjamin J Mailool, MPPA President, explains, the sale of shares LPPF aims to strengthen its business structure. “For retail businesses need a big budget,” he said, yesterday. However, he was not sure the plan using the proceeds of funds.
Thin margin
Director Edwin Sinaga Nusa Financorpindo suspect, see the development of the Lippo Group has no significant LPPF anymore because competition from other players. “They see things so differently from the Hypermart stores planned to continue to increase,” he added.
Asia Kapitalindo Securities analyst Arga, Paradita Sutiono, chimed in, the retail sector provides only a thin margin. In the calculation, margin only 2 percent-6 percent. “Probably, the fund’s proceeds will be used for the addition Hypermart stores,” he said. Understandably, the modern market businesses have much brighter prospects.
Edwin added, the Lippo Group might want to re-focus on property business. For your information, besides having the MPPA Hypermart stores, the business giant still has a business wing of the property through PT Lippo Karawaci Tbk and PT Lippo Cikarang Tbk. They also have owned megaproyek PT Kemang Village.
The Bhakti Securities head of research Edwin Sebayang see, Lippo business is now more focused on the health sector, banking and finance
Sign ASW Target RI 6 End 2010
Finance July 19th, 2010
Indonesia will enter in the implementation of an integrated system of the ASEAN Single Window (ASW) along with six other ASEAN countries. Meanwhile, the ASW will be complete in 10 ASEAN countries in 2012.
“Target end 2010, six have joined ASEAN in ASW agreement,” said Chief Executive Susi Wiyono Technical Budiharso National Single Window (NSW), after the press conference launching the NSW system in Jakarta International Container Terminal (JICT), Tanjung Priok, Jakarta, yesterday.
The six countries are Indonesia, Malaysia, Thailand, Singapore, Philippines, and Brunei Darussalam. Meanwhile, four other Indochina countries will follow in 2012 namely Vietnam, Laos, Cambodia, and Myanmar.
In addition, four new countries will join later because it is still stuck in the legal aspects of each country. “Crossboarder barriers of data exchange,” he added.
Meanwhile, Chief Executive of the NSW Eddy Putra Irawady stated that in 2012 the government will have an independent agency to deal with the ASW. “The plan in 2012 we had a new institution for it (ASW), it is in conformity with our work plan,” he said.
As is known, was inaugurated yesterday in the five NSW ports and airports in Indonesia is carried out symbolically by President SBY. Later management of the implementation of import-export documents and customs will be done online, while the four ports will be open 24 hours a day service, seven days a week.
: PT Wintermar, one of the ships off shore operators in Indonesia’s largest, did not participate in the tender for the procurement of ships offshore floating storage offloading (FSO) which opened ConocoPhilips and Camar Resources Canada.
Director of PT Layanto said Wintermar Sugiman perseroannya not submit a bid in two tenders had been opened at the beginning of last month. “This time we did not go to bid,” he told bisnis.com today.
He explained more concentrated perseroannya fleet off shore strengthen small scale in Indonesia are still needed in order to replace the ships of foreign flagged as type of anchor handling tug suplay (AHTS).
Because, he says, until this moment not a contractor contracts (KKKS) who still use foreign-flag ships. “Let the other operators began to enter the sector, these companies still focus on small-scale ship first.”
ConocoPhilips open tender for the procurement FSO vessel to replace the Diamond. Liberia’s fleet had been hired without having a clear time limit.
Artificial vessel weighing 178,604 DWT in 1968 was hired by ConocoPhilips to operate in the area waters Belida, Natuna, Riau Islands.
Camar Resources Canada open tender procurement prequalification FSO vessel at the beginning of last month to replace the fleet Ayu Maera contract expired in November 2009.
Ayu is Maera FSO fleet of 1975 made Indonesia operated by PT Trada Maritime, Tbk. Capacity of 37,187 DWT ship was chartered by Camar Resources Canada to be operated in the waters of Gull, North Sumatra.
Sugiman FSO explained that the tender was opened by two KKKS had been given the opportunity to cruise off shore companies to expand into the provision of large-scale transportation lease.
BI Ready Supports Bank Go International
Bank July 6th, 2010
Bank Indonesia (BI) ready to facilitate national banks will expand internationally.
BI Deputy Governor Muliaman D Hadad said, his department saw the condition of the national banking system is now strong enough and get the trust of the community. This is the opportunities for banks that will begin to look the global market.
“We need not lose heart because of our banking industry is strong enough, there was even a glance at the global market,” said Muliaman said the Banking Industry Dialogue in 2010 in the Multipurpose Building Indonesian Banking Development Institute (LPPI), Jakarta, Monday (25 / 1 / 2010).
He insisted, if necessary, it would facilitate the national banking system to speak with the banking authorities of other countries in order to obtain legal umbrella to go global. Related to this, the BI will also hold talks with member countries of G-20.
“As a member of the G-20, we can speak with authority from other countries in order to dipayungi to go global,” he said.
Banking Industry Dialogue was held LPPI to facilitate a meeting between the banking industry and the regulator. Discussed here further that agenda will be made in answering the opportunities and challenges in the Indonesian banking system in 2010.
This event was also a forum for deepening the Bankers Dinner held BI on January 22, 2010. Present in this dialogue of the Board of Banking Association and all relevant directors or echelon I of the government banks, regional development banks, national private banks, banks mixed, Islamic banks, foreign banks, and people’s credit banks.
Gold prices bounced back
Gold Investing July 6th, 2010
- gold prices soaring again. Tuesday (26.1.2010), the price of gold at a cash Tokyo market rose 0.3 percent to 1101.75 U.S. dollars per troy ounce.
Investors hunt for the precious metal back to its price down quite a lot last week. However, investors remained wary of the meeting of Federal Open Market Committee (FOMC), which will determine its benchmark interest rate the U.S. central bank said on Wednesday (27/1/2010) later.
Last Friday gold prices had fallen to touch 1081.90 U.S. dollars per troy ounce, its lowest level in five last week. The reason is the market concerns of President Barack Obama’s plan to limit movement of financial institutions in commodity exchanges. “Actually, the market is not too interested in determining the interest rate the Fed,” said Louis Lok, senior dealer at Bank of China Hong Kong.
According to him, the gold price will move in the range of 1085-1110 U.S. dollars per troy ounce until the Fed announces its reference interest rate. Correction that occurred in last week to investors hunt for gold again.
The price of gold contracts for delivery in February 2010 in the United States rose 0.6 percent to 1101.70 U.S. dollars per troy ounce compared with the previous in Comex, the New York Mercantile Exchange (NYMEX) which for 1095.70 U.S. dollars per troy ounce.
Other precious metals prices, such as platinum and palladium, joined terkerek gold prices. The price of platinum in the cash market to reach U.S. $ 1556.50 per troy ounce and palladium 440 U.S. dollars per troy ounce.
The decline that had occurred in the gold market looks at the gold stock of SPDR Gold Trust GLD is an exchange-traded fund based on the world’s largest gold. As of January 26, 2010, gold stock owned SPDR Gold Trust GLD position has not changed from January 25, 2010, which is 1111.92 tons
