Vincencia NLS

Indonesia car rental Adi Sarana gets partnership offers from Gojek, Uber, Grab

The government requires all ride-hailing apps to work in partnership with a rental car cooperative or company.

Indonesia: Sritex to buyback $180m debt from bondholder

Indonesia textile firm PT Sri Rejeki Isman Tbk (Sritex) through its unit Golden Legacy Pte Ltd, announced the settlement of cash tender the senior debt approximately US$180.7 million of the $270 million aggregate principal amount.

Indonesia: Three companies to offer $364m bonds in June

Three Indonesian companies offers Rupiah bond with total value Rp5 trillion (US$364.96 million) in this month for business expansion purposing. Regional bank PT Bank DKI offered Rp1 trillion, state owned airport operator PT Angkasa Pura II (AP II) Rp2 trillion and publicly listed energy firm PT Medco Energi International Tbk (MEDC) Rp2 trillion.

Indonesia: Lulu Group to invest $500m, Northcliff to inject $200m in realty

United Arab Emirates-based hypermarket chain Lulu Group, has opened its first hypermarket in East Jakarta while Singapore-based investment company, Northcliff Capital has agreed to invest $200 million in the country.

Indonesian market set for seven IPOs, 21 bond offers & nine rights issues

At least seven companies will list their shares on the Indonesia Stock Exchange and the number is likely to go up in the second half of 2016, according to the country’s market regulator Financial Service Agency, commonly referred as OJK.

Indonesia Astratel to invest $147m in infrastructure projects

Indonesia investment company and infrastructure developer PT Astratel Nusantara, will be investing Rp 2 trillion (US$147.06 million) in infrastructure projects in this year. Most of the fund will use to develop toll road projects in Java Island.

Cikarang Listrindo raises $275m, becoming Indonesia’s largest IPO in 2016

Indonesian power company PT Cikarang Listrindo Tbk set the initial public offering (IPO) at Rp1,500 a share after marketing its 2.5 billion shares or raises Rp3.75 trillion ($275.74 million), said sources close to the deal. Previously the company offered the shares with a price range of Rp1,430 – Rp1,970 each.

Indonesia’s Pertamina, Russia’s Rosneft ink $13b Tuban Refinery framework agreement

Indonesia state-owned energy provider PT Pertamina and Russia’s oil & gas producer OJSC Rosneft Oil Company signed the framework agreement on green field Tuban Refinery project in East Java.

Fertilizer firm Pupuk Indonesia to issue $735.3m in bonds

PT Pupuk Indonesia Holding Company (PIHC), a state owned fertilizer company, has unveiled its plan to raise Rp10 trillion ($735.29 million) through issuing bonds in the first quarter of 2017. Portion of the bonds proceeds will be used to refinance the company’s debts.

Indonesia: Sillo Maritime to raise $6m via IPO

Indonesia offshore support vessels provider PT Sillo Maritime Perdana Tbk offers 600 million shares with indicative price in a range Rp117 to Rp 140 each to raises up to Rp 84 billion ($6.18 million) through initial public offering in June.