Support of Our Regional Exchanges Estimated IHSG Tend to Positive Today.
Dow Jones rose 13 points on Friday to close at the level 21,797.79 despite the overwhelming negative sentiment
shares of insurance companies related potential impact storm Irma. Regional markets rose this morning led by Nikkei225 index which rose 0.9%. IHSG rose last Friday but still overshadowed
the selling action of foreign investors.
JAWA- Tender offer
PT Jaya Agra Wattie (JAWA) owns a new majority shareholder after PT Sinar Kasih Abadi sells all of its shares. The shares are sold at Rp 250 shares with a total of 2.66 billion shares (70.5% of shares). The transaction is conducted through negotiation market with transaction value reaching Rp 665.35 Billion. All shares are purchased by PT Sarana Agro Investama and make new controllers of JAVA. Completed this transaction, Agro Facility will conduct a tender offer for all JAVA shares owned by the public. JAWA's outstanding share ownership in the public is 29.4%. In the remainder of this year, JAVA will focus more on internal fixing and withstand expansion by conducting operational efficiency and tightening capital expenditure and making improvements to infrastructure and production equipment.
MKNT - Rights issue plan
PT Mitra Komunikasi Nusantara (MKNT) plans to issue new shares through the rights issue process. With the offering price of Rp 300 per share, the target of acquisition fund reaches Rp 600 billion. Most of the proceeds from the rights issue proceeds will be used to increase the subsidiaries' capital. About 70% of the funds will be allocated to PT Mitra Sarana Berkat, 20% for Mitra Telindo Nusantara, and the remaining 10% for working capital of MKNT.
PPRO - Land acquisition plan
PT PP Properti (PPRO) plans to acquire land in Kertajati area of 200 Ha because the land in Kertajati area is quite prospective with the new airport development plan. The area will become Aero Citiy or an independent city with development up to 20 years to come. PPRO will cooperate with a subsidiary of West Java International Airport. With the additional land, the total land area of PPRO banks is recorded at about 294 Ha. Meanwhile, PPRO has recorded sales of Rp 1.75 trillion in 8M 2017, about 58% of this year's sales target of Rp 2.99 trillion.
TOWR - Raise the loan facility
PT Sarana Menara Nusantara (TOWR) through its subsidiary PT Profesional Telekomunikasi Indonesia (Protelindo) raised the loan revolving facility loan ceiling from PT Bank Central Asia (BBCA). The Company raised its loan value to Rp 750 billion, compared to the company's agreement on December 21, 2016, which was only Rp 500 billion. Through the new agreement, both parties agreed to amend some aspects, including the addition of loan commitments and the availability of facility A to 36 months and the limit of facility B to be 12 months from the date of signing of the change agreement.
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