Today's Headlines - 12 September 2014

WIKA Get US$125mn Project in Myanmar (ID)
WIKA obtain a new contract in Myanmar worth US$125mn (Rp1.47tn) from Noble Twin Dragon to develop superblock Pyay Tower and Residence in Yangon. Scope of work on the project includes civil works, architecture, mechanical electrical, and plumbing. The construction is targeted to begin in October 2014 and completed in October 2017.

ISAT to pocket US$ 400mn loan (ID)
PT Indosat Tbk is optimist to pocket US$ 400mn of loan, as their effort to search for total loan worth US$ 850mn. They already choose the bank consortium for loan in 3Q and 4Q of 2014 in order to recall the company's obligation worth US$ 650mn that due in 2020 and fasten the repay to 2015, while the rest US$ 250mn is in form of bank loans.
This step was taken as they're targeting to maintain their debt to equity ratio in the range of 1.8-2.1 times and reduce their USD debt to 70% next year. As for 1H14, their DER reached 2.1 times with total liabilities and total equity recorded at Rp 35.8tn and Rp 16.3tn, each. On the other hand, ISAT is planning for sustainable public offering worth Rp 10tn, which they expect to be pocketed December 2014.

KLBF Aims Growth Above 15% (BI)
KLBF oncology plant that will be completed in the 4Q14 marked the beginning of the revenue growth above 15% gradually in following years. Future revenue growth will also come from some major expansion that still in progress of completion. This investment costs of the first oncology plant in Indonesia amounted to Rp200 billion.

PTBA to form new subsidiary (ID)
PTBA to form new subsidiary, named PT Bukit Multi Investama which will engaged in agriculture, plantation, yield management and derivatives, marketing, and property. PTBA place 99.86% of total capital or 70.000 shares, while Yayasan Keluarga Besar Bukit Asam place 0.04% or Rp 100tn from total authorized capital of Rp 280.4bn.
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