Regional Stocks Traded Positive Easing Concerns Over North Korea
Dow Jones rose 0.25% to close at 21,807.64 supported the possibility of extension limits US Government debt time for 3 months. JCI is still closed above the term diagonal line short, but the potential for strengthening is quite limited because overshadowed by selling foreign investors. JCI estimated to move mixed tends to be positive today.
ADHI - Water treatment project
PT Adhi Karya (ADHI) allocated Rp 200 billion for the investment of drinking water installation project in Lampung. ADHI established a partnership with PT Adaro Energy (ADRO), PT Adaro Tirta Mandiri and Suez Water following the tender process of a water supply project worth Rp 700 billion with a capacity of 750 liters per second which is a national strategic project in Presidential Regulation no. 3 Year 2016. ADHI is also working on clean water treatment project in Banten worth Rp 4-5 Trillion.
OKAS - Acquisition of Indotan Lombok
PT Ancora Indonesia Resources (OKAS) is planning to acquire a 100% stake in mining investment company, Indotan Lombok Pte. Ltd. The Company has entered into an agreement with Southern Arc Minerals Inc, as the holding company of Indotan Lombok Pte Ltd with a share purchase agreement of US $ 2 million. The Company will seek approval from stakeholders through shareholders' general meeting (RUPS) related to the corporate action plan to add subsidiaries.
WSBP - New contract
PT Waskita Beton Precast (WSBP) has won a new contract of 8M 2017 of around Rp 7 Trillion or has reached 56.6% of this year's total target of Rp 12.36 Trillion. Most of these achievements are still sourced from PT Waskita Karya (WSKT) internal projects with approximately 85% contribution. To pursue the remaining contracts of around Rp 5.36 trillion in four months, WSBP will remain focused on toll road projects in line with WSKT expansion in the sector. In addition to pursuing new contract targets, WSBP will continue to expand production capacity. Currently WSBP already has a production capacity of 3.25 million tons per year from 11 units owned factories.
WSKT - Bond issuance plan
PT Waskita Karya (WSKT) plans to issue a total of Rp 10 trillion worth of sustainable bonds, which for the first phase will issue bonds worth Rp 3 trillion consisting of 2 Series. Series A 3-year tenor and 5-year B Series. Fitch rated A- on the WSKT bond issuance plan. About 80% of the proceeds from the bond issuance will be allocated for working capital and the rest for investment in capital increase of subsidiaries. The bookbuilding period lasts from 6 to 19 September with the listing plan on October 9, 2017.