www,theindonesiatoday.com - JAKARTA (Indonesia Today) - PT Bank QNB Kesawan
Tbk booked net loss of Rp11.67 billion in the first half of 2012,
flipped from net profit of Rp10.7 billion in the corresponding period of
2011.
The bank actually posted higher net interest income of Rp87.4
billion, representing an increase of 20% from the first half of 2011. Bank QNB Kesawan, however, suffered from substantially higher personnel and administrative expenses. (source)
Showing posts with label indonesia today. Show all posts
Showing posts with label indonesia today. Show all posts
Tuesday, August 07, 2012
Wednesday, August 01, 2012
MALAYSIA - CAPITAL MARKETS - First Resources Issues RM600 Million Islamic Notes
www.theindonesiatoday.com -SINGAPORE (Indonesia Today) - First Resources
Limited, a company controlled by Indonesian family of Ciliandra
Fangiono, has issued RM600 million of Islamic medium term notes (IMTN).
The IMTN issued Tuesday, July 31, 2012 is part of the RM2 billion Ringgit-denominated Islamic medium term note program of First Resources.
The IMTNs have a tenor of five (5) years and will mature on 31 July 2017. The IMTNs were successfully priced on a “book build” basis and will bear a periodic distribution rate of 4.45% per annum, payable semi-annually in arrears. (source)
The IMTN issued Tuesday, July 31, 2012 is part of the RM2 billion Ringgit-denominated Islamic medium term note program of First Resources.
The IMTNs have a tenor of five (5) years and will mature on 31 July 2017. The IMTNs were successfully priced on a “book build” basis and will bear a periodic distribution rate of 4.45% per annum, payable semi-annually in arrears. (source)
Saturday, July 21, 2012
INDONESIA - BANKING - OJK Commissioners Officially Installed
www.theindonesiatoday.com - JAKARTA (Indonesia Today) - Supreme Court Chief Hatta Ali has sworn in nine commissioners of Financial Services Authority (OJK) Friday (July 20).
They are Muliaman Hadad as OJK chief, Anny Ratnawati as ex-officio from ministry of finance, and Halim Alamsyah as ex-officio commissioner from Bank Indonesia.
Muliaman Hadad was deputy governor of Bank Indonesia, while Anny Ratnawati is vice minister of finance. Halim is still deputy governor of Bank Indonesia. (source)
They are Muliaman Hadad as OJK chief, Anny Ratnawati as ex-officio from ministry of finance, and Halim Alamsyah as ex-officio commissioner from Bank Indonesia.
Muliaman Hadad was deputy governor of Bank Indonesia, while Anny Ratnawati is vice minister of finance. Halim is still deputy governor of Bank Indonesia. (source)
Monday, July 09, 2012
INDONESIA - BANKING - Maybank Granted Further Six Months Extension for Sell-Down of BII Shares
www.theindonesiatoday.com -
KUALA LUMPUR, Indonesia Today
- Malayan Banking Berhad (Maybank) has been granted a further extension
of six months to fulfill the sell-down of Bank Internasional Indonesia
(BNII) shares.
Maybank informed Bursa Malaysia Friday (July 6) that on 5 July 2012, the bank received an approval letter dated 29 June 2012 from Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam), wherein Bapepam has granted a further extension of time of six (6) months starting from the date of the Approval Letter for Maybank to fulfill the Sell-Down Requirement (source)
Maybank informed Bursa Malaysia Friday (July 6) that on 5 July 2012, the bank received an approval letter dated 29 June 2012 from Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam), wherein Bapepam has granted a further extension of time of six (6) months starting from the date of the Approval Letter for Maybank to fulfill the Sell-Down Requirement (source)
Friday, June 29, 2012
INDONESIA - BANKING - Bank Victoria Mulls 20% Stake Sale to Foreign Investor
www.theindonesiatoday.com - JAKARTA, Indonesia Today - PT Bank Victoria International Tbk (BVIC) plans to sell 15-20% stake to foreign investors for increasing capital, Investor Daily reported this morning.
Andrew A Haswin, alternate president director of Bank Victoria, said some foreign investors including from Europe are interested to buy Bank Victoria's shares. "Growing by organically is the best way to grow faster," he said.
Bank Victoria's shareholders are PT Victoria Sekuritas Masyarakat (35.16%), public (32.56%), Suzanna Tanojo (13.47%), Emirates Tarian Asset Management (9.05%), PT Suryayudha Investindo Cipta (6.4%) and PT Nata Patindo (3.36%). (source)
Andrew A Haswin, alternate president director of Bank Victoria, said some foreign investors including from Europe are interested to buy Bank Victoria's shares. "Growing by organically is the best way to grow faster," he said.
Bank Victoria's shareholders are PT Victoria Sekuritas Masyarakat (35.16%), public (32.56%), Suzanna Tanojo (13.47%), Emirates Tarian Asset Management (9.05%), PT Suryayudha Investindo Cipta (6.4%) and PT Nata Patindo (3.36%). (source)
Monday, June 18, 2012
INDONESIA - BANKING -Fitch: New Rules to Boost Indonesian Consumer-Loan Asset Quality
www.theindonesiatoday.com - JAKARTA, Indonesia Today
- New consumer finance rules in Indonesia that cap the maximum
loan-to-value on auto loans and mortgages are likely to improve
underwriting quality and slow lending growth, says Fitch Ratings.
The impact will be felt mainly on non-bank finance companies, which are more active than banks in higher-risk lending.
The consumer finance regulation - set to come into force on June 15 - stipulates a minimum downpayment for motorcycles and cars of 25% for loans from financing companies and 30% for loans from banks. Some finance companies were offering motorcycle loans with zero downpayments, and this has led to an increase in delinquencies. As a result, the regulator is concerned that poor underwriting has resulted in a deterioration in asset quality at some finance companies. (source)
The impact will be felt mainly on non-bank finance companies, which are more active than banks in higher-risk lending.
The consumer finance regulation - set to come into force on June 15 - stipulates a minimum downpayment for motorcycles and cars of 25% for loans from financing companies and 30% for loans from banks. Some finance companies were offering motorcycle loans with zero downpayments, and this has led to an increase in delinquencies. As a result, the regulator is concerned that poor underwriting has resulted in a deterioration in asset quality at some finance companies. (source)
Sunday, June 03, 2012
INDONESIA - BANKING - Fitch: Indonesia Foreign Bank Ownership Double-Edged Sword
www.theindonesiatoday.com - Fresh banking capital will be needed to support the ongoing growth of the Indonesian economy, Fitch Ratings says.
The challenge in broad terms for the local regulator is to oversee the management of the financial system's risks in such a way that it is able to attract new capital to support this growth, while ensuring the accumulation of risk does not ultimately undermine the stability of the overall financial system.
The debate around Indonesian ownership rules is receiving increased attention due to the offer by SINGAPORE's DBS to acquire Bank Danamon. The regulator is widely expected to clarify its position soon. (source)
The challenge in broad terms for the local regulator is to oversee the management of the financial system's risks in such a way that it is able to attract new capital to support this growth, while ensuring the accumulation of risk does not ultimately undermine the stability of the overall financial system.
The debate around Indonesian ownership rules is receiving increased attention due to the offer by SINGAPORE's DBS to acquire Bank Danamon. The regulator is widely expected to clarify its position soon. (source)
Friday, May 25, 2012
INDONESIA - TAXATION - Tax for Capital Gain of Shares Raised to 2.5%
www.theindonesiatoday.com -JAKARTA, Indonesia Today
- Tax General Directorate plans to impose 2.5% tax to capital gain from
shares transaction undertaken by the founder of listed companies,
compared to current 0.5% tax, Bisnis Indonesia reported this morning.
Fuad Rahmany, Tax Directorate General, said his office is now preparing this plan which will be formulated in the government regulation.
Currently, the tax for capital gain of shares transaction is stipulated on PP No. 14/1997 regarding Income Tax over Income of Shares Transaction at Stock Exchange. (source)
Fuad Rahmany, Tax Directorate General, said his office is now preparing this plan which will be formulated in the government regulation.
Currently, the tax for capital gain of shares transaction is stipulated on PP No. 14/1997 regarding Income Tax over Income of Shares Transaction at Stock Exchange. (source)
Friday, April 27, 2012
INDONESIA - CAPITAL MARKETS - Mayora Sets Bond Coupon at 8.25% to 8.5%
www.theindonesiatoday.com - JAKARTA, Indonesia Today - Food processor PT Mayora Indah Tbk (MYOR) has reportedly set 8.5% coupon for Rp500 billion bond and 8.25% coupon for Rp250 billion sukuk (Islamic bond), Bisnis Indonesia reported this morning.
Yuni Gunawan, Mayora's corporate secretary, said the company during the offering period ending on Monday (April 23) offered coupon of 8.25% to 9.5% for bond and offered coupon of 7.75% to 9% for sukuk. (source)
Yuni Gunawan, Mayora's corporate secretary, said the company during the offering period ending on Monday (April 23) offered coupon of 8.25% to 9.5% for bond and offered coupon of 7.75% to 9% for sukuk. (source)
Thursday, April 19, 2012
INDONESIA - CAPITAL MARKETS - Adhi Karya Plans Rp1.5 Trillion Bond Issuance
www.theindonesiatoday.com - JAKARTA, Indonesia Today - State contruction firm PT Adhi Karya Tbk (ADHI) plans to issue bond and mudharabah sukuk worth Rp1.5 trillion, Bisnis Indonesia reported this morning.
Kurnadi Gularso, ADHI's corporate secretary, said the bond and sukuk will be issued in gradual within next 3 years. "For this year, we plan to raise Rp750 billion from bond and sukuk issuance," he said.
Kurnadi said the company will use the bond proceeds to refinance the outstanding bond worth Rp500 billion which will mature in July, this year. (source)
Kurnadi Gularso, ADHI's corporate secretary, said the bond and sukuk will be issued in gradual within next 3 years. "For this year, we plan to raise Rp750 billion from bond and sukuk issuance," he said.
Kurnadi said the company will use the bond proceeds to refinance the outstanding bond worth Rp500 billion which will mature in July, this year. (source)
Thursday, April 12, 2012
INDONESIA - BANKING - BI to Implement Multiple Lincense to Foreign Banks
www.theindonesiatoday.com - JAKARTA, Indonesia Today - The central bank, Bank Indonesia (BI), plans to implement multiple license to foreign banks operating in Indonesia, Bisnis Indonesia reported this morning.
Muliaman D. Hadad, BI's governor deputy, said the multiple license implementation is inline with other countries' policies that do not give equal access to Indonesian banks for expansion.
He said BI's plan to limit foreign ownership in local banks will not be implemented in the near term as BI must synchronize with the government's regulation. (source)
Muliaman D. Hadad, BI's governor deputy, said the multiple license implementation is inline with other countries' policies that do not give equal access to Indonesian banks for expansion.
He said BI's plan to limit foreign ownership in local banks will not be implemented in the near term as BI must synchronize with the government's regulation. (source)
Sunday, April 08, 2012
INDONESIA - BANKING - QNB Kesawan Profit Expanded
www.theindonesiatoday.com - JAKARTA, Indonesia Today - Bank QNB Kesawan, controlled by Qatar National Bank (QNB), booked a tiny net profit of Rp6.18 billion last year.
It is a substantial growth from Rp1.2 billion in 2010, but relatively small compared to the growth of its equity to Rp892.57 billion from Rp178 billion in December 2010. (source)
It is a substantial growth from Rp1.2 billion in 2010, but relatively small compared to the growth of its equity to Rp892.57 billion from Rp178 billion in December 2010. (source)
Thursday, April 05, 2012
INDONESIA - BANKING - Bank Muamalat Increases Retail and MSME Financing
www.indonesiafinancetoday.com - Bank Muamalat targets a finance portfolio growth of 40-50 percent in 2012 to Rp 31.46 trillion-Rp 33.71 trillion. (IFT/STANLIE)
JAKARTA (IFT) – PT Bank Muamalat Tbk plans to increase its retail as well as its micro, small and medium enterprise (MSME) finance portion to 60 percent of this year’s total finance portfolio from 55 percent last year. Its strategy for finance portfolio growth is to minimize risks that may affect non-performing finance (NPF). (source)
JAKARTA (IFT) – PT Bank Muamalat Tbk plans to increase its retail as well as its micro, small and medium enterprise (MSME) finance portion to 60 percent of this year’s total finance portfolio from 55 percent last year. Its strategy for finance portfolio growth is to minimize risks that may affect non-performing finance (NPF). (source)
Wednesday, April 04, 2012
INDONESIA - BANKING - Danamon Outlook Revised to Positive on Potential Integration into DBS Group
www.theindonesiatoday.com - HONG KONG, Indonesia Today - Standard & Poor's Ratings Services said on Tuesday (April 3) that it had revised its outlook on PT Bank Danamon Indonesia Tbk (BDMN). At the same time, it affirmed its 'BB' long-term and 'B' short-term issuer credit ratings on the Indonesia-based bank.
"The outlook revision reflects our expectation that Danamon could benefit from potential parent group support if DBS Group Holdings Ltd. acquires a majority stake in the bank," said Standard & Poor's credit analyst Terry Sham. "We understand that DBS Group plans to integrate the Indonesian banking business of its Singapore-based subsidiary DBS Bank Ltd. into Danamon. This could enhance Danamon's business and risk diversification, in our opinion." (source)
"The outlook revision reflects our expectation that Danamon could benefit from potential parent group support if DBS Group Holdings Ltd. acquires a majority stake in the bank," said Standard & Poor's credit analyst Terry Sham. "We understand that DBS Group plans to integrate the Indonesian banking business of its Singapore-based subsidiary DBS Bank Ltd. into Danamon. This could enhance Danamon's business and risk diversification, in our opinion." (source)
Wednesday, March 28, 2012
INDONESIA - CAPITAL MARKETS - Govt to Auction Rp1 Trillion Sukuk on March 27
www.theindonesiatoday.com - JAKARTA, Indonesia Today - The Finance Ministry plans to issue project based sukuk with indicative target of Rp1 trillion in March 27, 2012. The proceed will be used to support the state budget.
The sukuk consists of 4 series; (source)
The sukuk consists of 4 series; (source)
Monday, March 26, 2012
INDONESIA - CAPITAL MARKETS - Govt to Auction Rp1 Trillion Sukuk on March 27
www.theindonesiatoday.com - JAKARTA, Indonesia Today - The Finance Ministry plans to issue project based sukuk with indicative target of Rp1 trillion in March 27, 2012. The proceed will be used to support the state budget.
The sukuk consists of 4 series;
1. PBS001 series with yield of 4.45000% and to mature in February 15, 2018
2. PBS002 series with yield of 5.45000% and to mature in January 15, 2022
3. PBS003 series with yield of 6.00000% and to be due in January 15, 2027
4. PBS004 series with 6.1000% yield and to be due in February 15, 2037. (source)
The sukuk consists of 4 series;
1. PBS001 series with yield of 4.45000% and to mature in February 15, 2018
2. PBS002 series with yield of 5.45000% and to mature in January 15, 2022
3. PBS003 series with yield of 6.00000% and to be due in January 15, 2027
4. PBS004 series with 6.1000% yield and to be due in February 15, 2037. (source)
Sunday, March 11, 2012
INDONESIA - BANKING - Foreign Workers Disallowed to be CEO at Indonesian Firms
www.theindonesiatoday.com - Foreign workers are disallowed to post as chief executive officer (CEO) at the Indonesian companies, said minister of manpower and transmigration Muhaimin Iskandar.
The minister said his ministry had in February 29, 2012 signed the decree of manpower and transmigration ministry No 40 year 2012 concerning the certain positions of foreign workers at the country's firms. (source)
The minister said his ministry had in February 29, 2012 signed the decree of manpower and transmigration ministry No 40 year 2012 concerning the certain positions of foreign workers at the country's firms. (source)
Tuesday, February 28, 2012
INDONESIA - BANKING - RHB Bank-Mestika Deal Extended Further to June 2012
www.theindonesiatoday.com - KUALA LUMPUR, Indonesia Today - RHB Bank Berhad and PT Mestika Benua Mas agreed to extend the period to satisfy or waive the conditions precedent of the acquisition of Bank Mestika Dharma to June 30, 2012.
Both parties had earlier agreed to further extend the period to satisfy or waive the conditions precedent of the conditional sale and purchase agreement of Bank Mestika Dharma from December 2011 to February 29, 2012. (source)
Tuesday, February 21, 2012
INDONESIA - BANKING - Bank Saudara Plans to Acquire 3 Islamic Rural Banks
www.indonesiafinancetoday.com - JAKARTA (IFT) – PT Bank Himpunan Saudara 1906 Tbk (SDRA) plans to acquire three Islamic rural banks for its Islamic finance expansion. It will finalize the acquisition process in the first semester of 2012. (source)
INDONESIA - BANKING - BI Yet to Receive Official Statement on Bank Muamalat Acquisition
www.indonesiatoday.com - JAKARTA (IFT) – Bank Indonesia has yet to receive any official statement from Bank Islam of Malaysia. It would like to see if the investor is serious about being a shareholder of Bank Muamalat. (source)
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