INDONESIA - CAPITAL MARKETS - Garuda Enters Syariah List, Bakrie Telecom Kicked Out

Theindonesiatoday.com - Shares of flag carrier PT Garuda Indonesia Tbk (GIAA) enters into syariah stocks list per November 2011, while Bakrie Telecom was kicked out from the list.

Etty Retno Wulandari, Bureau Head for accountancy and transparancy at Bapepam-LK, said 24 new stocks enter the list while 10 stocks were kicked out from the list.

She said Garuda, PT Perusahaan Gas Negara Tbk (PGAS), PT Bayan Resources Tbk (BYAN) and PT Indofood Sukses Makmur Tbk (INDF) are included into the list as their debt to equity ratio have improved. "Garuda's equity increased after IPO, helping dragged down its debt to equity ratio," Etty said.

Among 10 stocks kicked out due to their debts are bigger than equities are Bakrie Telecom, PT Alfa Retailindo Tbk (ALFA), PT Colorpak Indonesia Tbk (CLPI), PT Japfa Comfeed Indonesia Tbk (JPFA) and PT Multistrada Arah Sarana Tbk (MASA). (source)

HALAL - 'Best for Indonesia, Brunei, M'sia to have one halal standard'

d

GETTING food exporting Muslim countries in Southeast Asia to agree on a single halal standard will ultimately harmonise exports within Asean and ease market access into the European Union (EU), an authority on food and agriculture said yesterday.

An acceptable standard agreed among countries like Brunei, Malaysia and Indonesia combined with reciprocity with Europe's substantial Muslim population will pave the way for more halal products from the region to get onto supermarket shelves in the continent, said David Knight, chairman of Food and Agriculture under the British Chamber of Commerce in Indonesia. (full story)