Regional Market Traded Positive, May Send Some Positive Momentum For IDX Today.
ISSP - Target revenue 2018
PT Steel Pipe Industry of Indonesia (ISSP) targets a Rp 4.5 trillion increase in 2018, up from this year's projection of Rp 4 trillion. The increase in sales is supported by the company's optimism towards the development of national infrastructure. This prompted the company to add new warehouses to strengthen its steel sales penetration in various regions. The addition of warehouses has been realized in Samarinda, East Kalimantan, and in Makassar which will be realized by the end of this year. In addition, the company plans to issue global bonds with a target of US $ 250 million.
PTPP - Contract of the airport project
PT Pembangunan Perumahan (PTPP) and PT Angkasa Pura I signed a cooperation agreement for the construction of Kulon Progo Airport project in Yogyakarta worth Rp 6.5 trillion. The project is one of the projects in the list of National Strategic Projects launched by the President. PTPP has started the preparation phase of development of the air side (air side) and from the land side (land side) according to specifications, drawings, and plans, and other provisions have been established.
TINS - Cooperation with Yunnan Tin
PT Timah (TINS) in cooperation with Yunnan Tin, a Chinese tin company, this cooperation is contained in the Framework of Strategic Cooperation Agreement on tin processing cooperation, especially for chemical and business development industries and the utilization of tin resources. TINS management discloses this cooperation on the field of trade for tin chemical products and technology cooperation of tin chemical and solder processes. TINS expects the resulting downstream products to be more competitive in the US and Asian markets.
WSKT - Syndicated loan
PT Waskita Karya (WSKT) has committed syndicated loans of 9 foreign and local banks totaling Rp 5 trillion. The loan has a 5-year tenor with Jibor + 2.77% interest expense, or approximately 7.7% per annum. PT Sumitomo Mitsui Banking Corporation (SMBC) acts as sole mandated lead arranger and bookrunner. Loan funds will be allocated to finance operational activities. Until 2019 WSKT has a total investment of Rp 120 Trillion so that the loan needs is estimated to reach Rp 80 Trillion and equity (capital) worth Rp 40 Trillion. Currently WSKT has absorbed bank financing worth Rp 31.5 Trillion. The value does not include the newly acquired Rp 5 trillion syndicated loan as well as the proceeds of bond issuance of Rp 3 trillion. WSKT will receive payments from several turn key projects worth Rp 30 trillion in 2018 such as electricity transmission project, LRT Palembang, as well as several toll road projects.