BTN plans to issue subordinated bonds or hold a rights issue in the next two years to become a BUKU IV bank.
Astra Group through United Tractors is acquiring PT Agincourt Resources, operator of Martabe mine. This is a strategy to expand the contribution of its non-coal business to 30 percent by 2020.
Madusari Murni, a producer of food grade ethanol, is planning an IPO targeting Rp 297 billion. Molindo Group needs jumbo funds to boost ethanol production to 130 million litres.
The performance of several state-owned construction companies improved in the first half of 2018, but debt eroded PT PP’s profit.
Global Mediacom requires fresh funds to settle its debt and that of MNC Sky Vision worth US$ 119 million, which is due for payment next year.
Mitsubishi UFJ has replaced Temasek as Danamon’s controlling shareholder. The Japanese financial institution will provide new direction and goals, shifting its business focus.
BTPN will be in the top 10 largest banks by assets in Indonesia after merging with Bank Sumitomo. And with capital above Rp 30 trillion, it will also become a BUKU IV bank.
Go-Jek is expanding its penetration of financial services through Go-Pay. After boosting its payment services, is it true that Go-Pay will channel loans like banks?
The weakening rupiah may erode the profits of companies in the food, retail clothing and animal feed sectors. Telecommunications operator PT XL Axiata Tbk has also been affected.
Shareholders have rejected TPS Food’s 2017 financial statement, suspicious of corporate funds being channelled to affiliated parties. This has sparked speculation of a hostile takeover by creditors.