1. Indonesia's state-owned enterprises (SOEs) play a major role in the Indonesian economy, with total assets of over $134 billion and sales accounting for 19% of GDP.
2. Some SOEs have performed well financially in recent years and seen rapid growth, with total assets increasing 2-4 times the rate of GDP growth from 2009-2012.
3. The document outlines various investment opportunities in Indonesian SOEs, including potential privatization of certain SOEs and subsidiaries as well as bond issuance plans totaling over $250 billion for infrastructure development in 2013.
The budget document discusses the Union Budget 2013-14 which aims to return the Indian economy to high growth while maintaining fiscal discipline. Key points include containing the fiscal deficit to 5.2% of GDP for the current year and pegging it at 4.8% for 2013-14. The FM has taken a balanced approach through various initiatives to promote manufacturing, infrastructure, and capital markets while also introducing innovative revenue measures and keeping expenditure in check. However, uncertainty around GAAR could negatively impact foreign investment inflows which are important to bridge the current account deficit.
- The document discusses FundsIndia rolling out a new user interface for its website that has received positive feedback.
- Over the next few months, FundsIndia will introduce new features like social features, improved fund searching, and customized reporting to make investing through their platform a more unique experience.
- The new interface provides a foundation to support these new functionalities being added.
Since an increase in the non-performing assets (NPAs) of banks was identified within the banking system, the entire financial system in India has been in a state of turmoil. While the bank NPA crisis was successfully handled by the Reserve Bank of India through asset quality reviews and such measures over a period of time, another channel for generating credit, the Non-Banking Financial Companies (NBFCs), quietly became the flagbearers of the new NPAs. This came into the spotlight when India’s leading infrastructure finance company, the Infrastructure Leasing & Finance Services (IL&FS), defaulted on payment obligations in September 2018. Known as India’s “Near-Lehman moment”, this kick-started another crisis in the economy. Shortly afterwards, the India’s GDP growth rate plummeted and has been on a decline ever since.
The QE Index rose 3.3% to close at 8,433.0. Gains were led by the Consumer Goods & Services and Transportation indices, gaining 7.7% and 6.5%, respectively.
Defensive Contractor Industry Analysis 2013Sid Aggarwal
This document analyzes the financial performance of four major defense contractors: Boeing, General Dynamics, Lockheed Martin, and Raytheon. It examines each company's profitability, short-term liquidity, and long-term solvency based on financial ratios. While most companies showed strong profitability, Boeing had significant issues with its capital structure due to extremely low shareholder equity leading to very high debt-to-equity ratios, posing major long-term solvency risks. Generally, the defense contracting industry demonstrated good short-term liquidity but faces uncertainties from potential changes in government spending.
The budget document discusses the Union Budget 2013-14 which aims to return the Indian economy to high growth while maintaining fiscal discipline. Key points include containing the fiscal deficit to 5.2% of GDP for the current year and pegging it at 4.8% for 2013-14. The FM has taken a balanced approach through various initiatives to promote manufacturing, infrastructure, and capital markets while also introducing innovative revenue measures and keeping expenditure in check. However, uncertainty around GAAR could negatively impact foreign investment inflows which are important to bridge the current account deficit.
- The document discusses FundsIndia rolling out a new user interface for its website that has received positive feedback.
- Over the next few months, FundsIndia will introduce new features like social features, improved fund searching, and customized reporting to make investing through their platform a more unique experience.
- The new interface provides a foundation to support these new functionalities being added.
Since an increase in the non-performing assets (NPAs) of banks was identified within the banking system, the entire financial system in India has been in a state of turmoil. While the bank NPA crisis was successfully handled by the Reserve Bank of India through asset quality reviews and such measures over a period of time, another channel for generating credit, the Non-Banking Financial Companies (NBFCs), quietly became the flagbearers of the new NPAs. This came into the spotlight when India’s leading infrastructure finance company, the Infrastructure Leasing & Finance Services (IL&FS), defaulted on payment obligations in September 2018. Known as India’s “Near-Lehman moment”, this kick-started another crisis in the economy. Shortly afterwards, the India’s GDP growth rate plummeted and has been on a decline ever since.
The QE Index rose 3.3% to close at 8,433.0. Gains were led by the Consumer Goods & Services and Transportation indices, gaining 7.7% and 6.5%, respectively.
Defensive Contractor Industry Analysis 2013Sid Aggarwal
This document analyzes the financial performance of four major defense contractors: Boeing, General Dynamics, Lockheed Martin, and Raytheon. It examines each company's profitability, short-term liquidity, and long-term solvency based on financial ratios. While most companies showed strong profitability, Boeing had significant issues with its capital structure due to extremely low shareholder equity leading to very high debt-to-equity ratios, posing major long-term solvency risks. Generally, the defense contracting industry demonstrated good short-term liquidity but faces uncertainties from potential changes in government spending.
The document is a newsletter providing an economic and industrial overview of India in January 2013. It contains the following key points:
1. The Indian economy is projected to grow at 6.8% in 2013, rebounding from 5.5% growth in 2012, driven by government reforms and an improving policy environment.
2. Foreign investment in India is expected to increase in 2013, with private capital flows to emerging markets like India projected to rise 3.5% to $1.11 trillion, and FDI inflows to India lifted by the opening of new sectors.
3. The steel industry overview notes that India retained its position as the 4th largest steel producer worldwide in 2012, with output of 76
The QE Index declined 0.2% to close at 10,793.0. Losses were led by the Real Estate and Consumer Goods & Services indices, falling 1.2% and 0.5%, respectively.
This document discusses the issues of high fiscal deficits and growing national debt in Pakistan. It notes that Pakistan has suffered from annual fiscal deficits over 6% of GDP since 1990, which has led to increased borrowing and soaring debt levels. National debt, both domestic and foreign, increased significantly between 1990-91 and 1997-98. This growing debt has resulted in rapidly increasing debt servicing costs, with debt servicing reaching 45% of the budget in recent years. The high and continuously growing fiscal deficits and debt levels have created serious economic issues for Pakistan and reducing the fiscal deficit to a sustainable level is a key challenge.
The document discusses developments in the Indian economy and insurance sector based on information presented between June 8-July 1, 2011. It notes that only 8 of 23 private insurance companies have turned profitable, while ICICI and SBI Life control 10% of the market each. It also discusses rising inflation in India and China, challenges facing the Indian fiscal deficit and GDP growth targets, and declining profits in the broking industry.
The document discusses the growing Indian economy and its increasing globalization. It notes that India's GDP has grown significantly from 1999 to 2010, with services contributing over 60% to the economy. Exports and imports have also increased substantially. Foreign direct investment in India has risen sharply, and major mergers and acquisitions have involved Indian firms purchasing overseas companies. Overall, the Indian economy has rapidly integrated into the global marketplace in recent decades.
The document provides an economic capsule with news and analysis on Sri Lanka's economy. It reports that the World Bank projects Sri Lanka's GDP growth to be 6.8% in 2013, picking up due to external demand, agriculture, and post-war reconstruction. It also notes challenges facing Sri Lanka such as twin deficits, exchange rate stability, and structural reforms needed to address imbalances and strengthen macroeconomic stability for continued growth.
QNBFS Daily Market Report September 19, 2021QNB Group
The key points from the document are:
- CK Hutchison and Ooredoo agreed to combine their Indonesian telecom businesses in a $6 billion deal to better compete against larger rivals in Indonesia's telecom market.
- The merged company, named PT Indosat Ooredoo Hutchison, will have annual revenue of around $3 billion and better scale and resources to invest in networks and innovations.
- The companies expect to realize $300-400 million in pre-tax cost synergies annually within 3-5 years from the combination. The deal aims to drive further consolidation in Indonesia's telecom sector.
The document discusses India's growing economy and integration into the globalized world. It provides statistics on India's rising GDP, exports, imports, foreign exchange reserves, and foreign direct investment. Several key points are made:
- India's economy has grown substantially in recent decades, with GDP reaching $1.36 trillion in 2010 and a growth rate of around 9% annually.
- The services sector now accounts for 60-65% of India's economy and is a major driver of growth.
- Trade and investment flows have also increased significantly, though the trade balance remains negative.
- Globalization has opened new opportunities for Indian companies and multinationals operating in India.
This paper examines India's economic growth over recent decades and prospects for achieving double-digit growth in the future. It finds that while India weathered the global financial crisis well, prudent macroeconomic policies will be needed to sustain growth given risks from high inflation and volatile capital flows. Achieving higher growth will also require further fiscal consolidation, financial sector reforms, improving competition, expanding infrastructure, boosting human capital, reforming labor markets, and strengthening social welfare programs to ensure widespread benefits from growth. If these reforms are successfully implemented, the paper projects India could achieve average annual growth of 8-9% through 2025.
Synergies Related To Consolidation of 27 Public SectorAakash Singh
The document discusses the Indian government's plan to consolidate 27 public sector banks into 6 larger banks. The government aims to make the public sector banks more competitive globally and reduce their burden of non-performing assets through mergers and acquisitions. Currently, public sector banks hold around 70% of India's banking assets but no Indian bank ranks among the top 70 globally. The consolidation plan seeks to create stronger, more efficient banks that can better support the needs of the Indian economy.
The document discusses the options available to foreign companies wanting to invest in India - Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII). It provides details on the concepts and differences between FDI and FII. FDI involves setting up subsidiaries in India and leads to long term investment, job creation and GDP growth. FII involves short term investment in Indian markets and increases wealth but not GDP. The document also summarizes sector-wise FDI limits and trends in FDI and FII inflows over the years.
Sri Lanka's economy expanded by 7.9% in the first quarter of 2012, compared to 8.0% growth in the same period the previous year. Agriculture, forestry and fishing grew by 11.5%, industry by 10.8%, and services by 5.8%. Exports declined by 3.1% in January to April 2012 compared to the same period in 2011, with agricultural exports down 11.8% and industrial exports down 4.3%. Imports increased by 11.9% over the same period.
This document provides an executive summary and industry monitors for banks, cement, and other sectors covered by Keynote Capitals Institutional Research for September 26, 2011. Some key highlights include the RBI lifting restrictions on foreign investment in two Indian banks, cement companies initiating price hikes, and the potential for increased coal imports to impact international coal prices. The banking monitor discusses interest rate changes by various banks and plans to expand private banking assets. The cement monitor covers an investigation into cement companies for alleged price fixing and further price increases.
- Indian markets ended lower for the seventh straight session, with the Nifty closing below 6,000 points, as global markets declined on concerns about the US Federal Reserve tapering asset purchases.
- Industrial production and retail inflation figures in India were below expectations, with IIP growth at 2% versus forecasts of 3% and CPI inflation rising to 10.09%.
- Key sectoral indices like realty and IT declined the most while automobiles and metals gained.
The QSE Index rose 0.7% led by gains in the Industrials and Real Estate indices. Qatar Cinema & Film Distribution Co. and Gulf International Services were the top gainers rising 9.9% and 3.0% respectively. Trading volume fell 8.0% compared to the 30-day moving average. Non-Qatari investors were net buyers while Qatari investors were net sellers. The Finance Minister of Qatar said the country will continue its development plans and fiscal policy despite falling oil prices, with $200bn approved for projects until 2022 focused on transportation and infrastructure.
Indonesia has a large and growing population and economy. The food and beverage industry is an important sector that has seen steady growth in recent years. It is dominated by small businesses but larger companies are growing. Food trends show increasing demand for convenient, healthy, and branded products. Foreign investment in the food industry has increased and Indonesia is considered an attractive location for foreign direct investment in Asia. Key challenges for the industry include developing modern retail channels, understanding changing consumer preferences, ensuring food safety, and navigating regulations and trade issues.
This presentation was given as part of Imperial College Business School's Imperial in the City series. You can find out more about the series here: imprl.biz/ImperialintheCity
The Indian stock markets declined over the past week. The Sensex fell 1.38% and the Nifty fell 1.89% due to concerns over a potential downgrade of India's credit rating and slowing economic growth. Several sectors declined over 3%, with the technology sector outperforming. Looking ahead, the markets may remain lackluster as investors await key economic data releases from India and the US. Support levels of 5130-5150 could trigger further declines in the Nifty if broken.
Thailand aims to escape the middle-income trap and become a high-income country by 2030. To achieve this, the country is pursuing strategies focused on growth and competitiveness, inclusive growth, green growth, and improving internal processes. Major infrastructure investments are planned in areas like high-speed rail, road networks, and transportation to support these goals.
Peru has experienced strong GDP growth over the past decade, driven by rising investment and productivity. It has recorded the lowest inflation in Latin America and maintained prudent fiscal policies. The Central Bank has kept inflation low while supporting economic activity. Peru's economy remains attractive for investment due to its macroeconomic stability and growth potential, though it is sensitive to commodity price volatility.
The document is a newsletter providing an economic and industrial overview of India in January 2013. It contains the following key points:
1. The Indian economy is projected to grow at 6.8% in 2013, rebounding from 5.5% growth in 2012, driven by government reforms and an improving policy environment.
2. Foreign investment in India is expected to increase in 2013, with private capital flows to emerging markets like India projected to rise 3.5% to $1.11 trillion, and FDI inflows to India lifted by the opening of new sectors.
3. The steel industry overview notes that India retained its position as the 4th largest steel producer worldwide in 2012, with output of 76
The QE Index declined 0.2% to close at 10,793.0. Losses were led by the Real Estate and Consumer Goods & Services indices, falling 1.2% and 0.5%, respectively.
This document discusses the issues of high fiscal deficits and growing national debt in Pakistan. It notes that Pakistan has suffered from annual fiscal deficits over 6% of GDP since 1990, which has led to increased borrowing and soaring debt levels. National debt, both domestic and foreign, increased significantly between 1990-91 and 1997-98. This growing debt has resulted in rapidly increasing debt servicing costs, with debt servicing reaching 45% of the budget in recent years. The high and continuously growing fiscal deficits and debt levels have created serious economic issues for Pakistan and reducing the fiscal deficit to a sustainable level is a key challenge.
The document discusses developments in the Indian economy and insurance sector based on information presented between June 8-July 1, 2011. It notes that only 8 of 23 private insurance companies have turned profitable, while ICICI and SBI Life control 10% of the market each. It also discusses rising inflation in India and China, challenges facing the Indian fiscal deficit and GDP growth targets, and declining profits in the broking industry.
The document discusses the growing Indian economy and its increasing globalization. It notes that India's GDP has grown significantly from 1999 to 2010, with services contributing over 60% to the economy. Exports and imports have also increased substantially. Foreign direct investment in India has risen sharply, and major mergers and acquisitions have involved Indian firms purchasing overseas companies. Overall, the Indian economy has rapidly integrated into the global marketplace in recent decades.
The document provides an economic capsule with news and analysis on Sri Lanka's economy. It reports that the World Bank projects Sri Lanka's GDP growth to be 6.8% in 2013, picking up due to external demand, agriculture, and post-war reconstruction. It also notes challenges facing Sri Lanka such as twin deficits, exchange rate stability, and structural reforms needed to address imbalances and strengthen macroeconomic stability for continued growth.
QNBFS Daily Market Report September 19, 2021QNB Group
The key points from the document are:
- CK Hutchison and Ooredoo agreed to combine their Indonesian telecom businesses in a $6 billion deal to better compete against larger rivals in Indonesia's telecom market.
- The merged company, named PT Indosat Ooredoo Hutchison, will have annual revenue of around $3 billion and better scale and resources to invest in networks and innovations.
- The companies expect to realize $300-400 million in pre-tax cost synergies annually within 3-5 years from the combination. The deal aims to drive further consolidation in Indonesia's telecom sector.
The document discusses India's growing economy and integration into the globalized world. It provides statistics on India's rising GDP, exports, imports, foreign exchange reserves, and foreign direct investment. Several key points are made:
- India's economy has grown substantially in recent decades, with GDP reaching $1.36 trillion in 2010 and a growth rate of around 9% annually.
- The services sector now accounts for 60-65% of India's economy and is a major driver of growth.
- Trade and investment flows have also increased significantly, though the trade balance remains negative.
- Globalization has opened new opportunities for Indian companies and multinationals operating in India.
This paper examines India's economic growth over recent decades and prospects for achieving double-digit growth in the future. It finds that while India weathered the global financial crisis well, prudent macroeconomic policies will be needed to sustain growth given risks from high inflation and volatile capital flows. Achieving higher growth will also require further fiscal consolidation, financial sector reforms, improving competition, expanding infrastructure, boosting human capital, reforming labor markets, and strengthening social welfare programs to ensure widespread benefits from growth. If these reforms are successfully implemented, the paper projects India could achieve average annual growth of 8-9% through 2025.
Synergies Related To Consolidation of 27 Public SectorAakash Singh
The document discusses the Indian government's plan to consolidate 27 public sector banks into 6 larger banks. The government aims to make the public sector banks more competitive globally and reduce their burden of non-performing assets through mergers and acquisitions. Currently, public sector banks hold around 70% of India's banking assets but no Indian bank ranks among the top 70 globally. The consolidation plan seeks to create stronger, more efficient banks that can better support the needs of the Indian economy.
The document discusses the options available to foreign companies wanting to invest in India - Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII). It provides details on the concepts and differences between FDI and FII. FDI involves setting up subsidiaries in India and leads to long term investment, job creation and GDP growth. FII involves short term investment in Indian markets and increases wealth but not GDP. The document also summarizes sector-wise FDI limits and trends in FDI and FII inflows over the years.
Sri Lanka's economy expanded by 7.9% in the first quarter of 2012, compared to 8.0% growth in the same period the previous year. Agriculture, forestry and fishing grew by 11.5%, industry by 10.8%, and services by 5.8%. Exports declined by 3.1% in January to April 2012 compared to the same period in 2011, with agricultural exports down 11.8% and industrial exports down 4.3%. Imports increased by 11.9% over the same period.
This document provides an executive summary and industry monitors for banks, cement, and other sectors covered by Keynote Capitals Institutional Research for September 26, 2011. Some key highlights include the RBI lifting restrictions on foreign investment in two Indian banks, cement companies initiating price hikes, and the potential for increased coal imports to impact international coal prices. The banking monitor discusses interest rate changes by various banks and plans to expand private banking assets. The cement monitor covers an investigation into cement companies for alleged price fixing and further price increases.
- Indian markets ended lower for the seventh straight session, with the Nifty closing below 6,000 points, as global markets declined on concerns about the US Federal Reserve tapering asset purchases.
- Industrial production and retail inflation figures in India were below expectations, with IIP growth at 2% versus forecasts of 3% and CPI inflation rising to 10.09%.
- Key sectoral indices like realty and IT declined the most while automobiles and metals gained.
The QSE Index rose 0.7% led by gains in the Industrials and Real Estate indices. Qatar Cinema & Film Distribution Co. and Gulf International Services were the top gainers rising 9.9% and 3.0% respectively. Trading volume fell 8.0% compared to the 30-day moving average. Non-Qatari investors were net buyers while Qatari investors were net sellers. The Finance Minister of Qatar said the country will continue its development plans and fiscal policy despite falling oil prices, with $200bn approved for projects until 2022 focused on transportation and infrastructure.
Indonesia has a large and growing population and economy. The food and beverage industry is an important sector that has seen steady growth in recent years. It is dominated by small businesses but larger companies are growing. Food trends show increasing demand for convenient, healthy, and branded products. Foreign investment in the food industry has increased and Indonesia is considered an attractive location for foreign direct investment in Asia. Key challenges for the industry include developing modern retail channels, understanding changing consumer preferences, ensuring food safety, and navigating regulations and trade issues.
This presentation was given as part of Imperial College Business School's Imperial in the City series. You can find out more about the series here: imprl.biz/ImperialintheCity
The Indian stock markets declined over the past week. The Sensex fell 1.38% and the Nifty fell 1.89% due to concerns over a potential downgrade of India's credit rating and slowing economic growth. Several sectors declined over 3%, with the technology sector outperforming. Looking ahead, the markets may remain lackluster as investors await key economic data releases from India and the US. Support levels of 5130-5150 could trigger further declines in the Nifty if broken.
Thailand aims to escape the middle-income trap and become a high-income country by 2030. To achieve this, the country is pursuing strategies focused on growth and competitiveness, inclusive growth, green growth, and improving internal processes. Major infrastructure investments are planned in areas like high-speed rail, road networks, and transportation to support these goals.
Peru has experienced strong GDP growth over the past decade, driven by rising investment and productivity. It has recorded the lowest inflation in Latin America and maintained prudent fiscal policies. The Central Bank has kept inflation low while supporting economic activity. Peru's economy remains attractive for investment due to its macroeconomic stability and growth potential, though it is sensitive to commodity price volatility.
The document discusses Sri Lanka's strong economic outlook, with GDP growth projected to average over 8% through 2014. It highlights improvements in infrastructure, education, and political stability that make Sri Lanka an attractive investment destination in South Asia. The Managing Director of the World Bank said Sri Lanka has the potential to become the "Wonder of Asia" through continued inclusive economic growth and development.
The document summarizes the strong fundamentals of the Peruvian economy as presented by Julio Velarde, Governor of the Central Bank of Peru. Some key points:
- Peru experienced average annual GDP growth of 5.7% over the past decade, the fastest growth rate since the 1970s. Inflation has also remained low at an average of 2.3% annually over the past decade.
- Private investment has increased to an average of 25% of GDP from 2010-2012, helping drive economic growth. Poverty levels have decreased as GDP has increased.
- The Central Bank of Peru has accumulated substantial international reserves as a precautionary measure, with reserves expected to reach 30.
The document discusses the DSP India T.I.G.E.R. Fund, which focuses on infrastructure growth and economic reforms in India. It notes that private sector investment and manufacturing as a percentage of GDP in India have remained low. However, it outlines several positive indicators that private sector capex and the manufacturing sector may be reviving in India, such as rising capacity utilization, an uptick in private sector project announcements, lower corporate tax rates making India competitive, and the government increasing infrastructure spending and production-linked incentive schemes to attract manufacturing away from China.
This document discusses the investment opportunity in India presented by rising economic growth and infrastructure development. It notes that investment rates and manufacturing as a percentage of GDP have declined but are showing signs of revival. Key factors driving this include improving bank balance sheets, rising tax revenues, lower corporate tax rates, and government initiatives and spending on infrastructure. The fund focuses on sectors that will benefit from economic reforms, infrastructure growth, and the 'China plus one' manufacturing shift out of China.
This document provides data on domestic and foreign investment in Pakistan from 2000-2014. It shows that foreign direct investment peaked at $3.67 billion in 2007 but declined to $0.58 billion in 2013, while domestic investment remained relatively stable between $14-19 billion per year over the same period. The document also includes data on GDP growth by economic sector from 2007-2015, with agriculture and livestock seeing overall growth but variability between years. Country-wise FDI inflows are given for several countries from 2007-2016. In conclusion, the author examines the relationship between domestic saving and investment in Pakistan and determines that capital mobility, rather than domestic saving, is a determinant of domestic investment.
India Budget 2012-13 - Analysis by Prabhu SrinivasanPrabhu Srinivasan
Budget 2012-13 has invited more criticisms than appreciations from the various stakeholders of the country. Given the unanticipated difficult situation the global markets are currently in, and the multiple problems that the Indian economy is facing, such as weakening of Rupee against US Dollars, High cost of funds, Inflationary pressures, and High unemployment levels to name a few, the finance ministry has opted for a stringent budget to defy these problems and bring the economy back on a sustainable growth path. I would like to conclude the analysis with my view that the key lies in implementation of the plans. Having observed in the past, that implementation of various initiatives have seen multiple road-blocks stalling them abruptly, we shall try to learn from our past to ensure growth and prosperity of the world’s largest democracy!
This document provides a summary of India's Economic Survey from 2012-2013. It discusses key economic indicators such as GDP growth, inflation, sectoral growth. It analyzes factors affecting private investment and the current account deficit. It also discusses domestic savings, monetary policy tools used by RBI, and the role of public finance and fiscal indicators in India. Overall, it provides an overview of India's economic performance and policies during 2012-2013.
The document is a 2014 economic survey of India by the OECD that makes several recommendations:
1. India's economy is recovering but more reforms are needed to sustain growth above 8%, including reducing subsidies, increasing infrastructure investment, and tax reform.
2. Structural barriers have hampered growth and job creation, especially in manufacturing, and parts of the banking system are vulnerable.
3. Increasing opportunities for women could boost growth by over 2% by raising equity and the number of quality jobs.
4. Public health care is poor for most Indians and increased spending is recommended.
This document provides information about Tamburi Investment Partners (TIP), an Italian investment and merchant bank focused on mergers and acquisitions and equity investments in growing companies. It discusses TIP's business model, investment strategy, portfolio performance and companies. TIP has extensive experience working with excellent entrepreneurs and mid-sized companies that are leaders in their markets. It owns stakes in several world and continental leaders and aims to support company growth through minority investments. The document also notes that while the current economic scenario remains challenging, TIP is pursuing new investment opportunities including crisis-driven consolidations.
State of economy - economic survey of India 2013-14Swapnil Soni
The document provides an economic survey of India for 2013-14 prepared by the Ministry of Finance. It analyzes key economic indicators such as GDP growth, production, prices, external trade and debt, monetary trends, and government finances. Some highlights include:
- Real GDP growth slowed to 4.5% in 2013-14, the second successive year of sub-5% growth.
- Inflation remained above target levels and food inflation was a major contributor to overall inflation.
- Exports grew 4.1% in 2013-14 while imports declined 8.3%, improving the current account deficit.
- The survey identifies structural constraints like low manufacturing and agricultural productivity that are hampering the growth potential of
The document provides an overview of the macroeconomic environment in India and the real estate sector. It notes that while India's economy grew at over 9% from 2005-2008, growth has slowed in recent years to around 4.7% in 2013-2014 due to domestic and global factors. The real estate sector is a major driver of the economy but faces challenges of high costs, regulatory hurdles, and lack of funding. However, the sector is also seen as an important source of employment and an attractive investment option compared to other assets.
The document provides an overview of the infrastructure engineering industry in India and applications of hydraulic components. It discusses that the industry plays a key role in industrial output, employment, and exports. It also summarizes the major segments and sub-segments that hydraulic components are used in, including industrial applications like plastic processing and steelmaking, mobile applications like agricultural equipment and construction machinery, and marine applications like ocean vessels and naval equipment. The industry has grown at an average of over 18% annually in turnover, though actual production growth has been between 6-7% due to factors like currency depreciation.
The issue of Foreign Direct Investment (FDI) has been receiving phenomenal attention from many governments. Bangladesh is not lagging behind from it. Economic development for the developing countries like Bangladesh is largely dependent on FDI. The major challenges for the host country are to ensure an eye-catching and conducive investment climate to foreign investors for FDI inflow. In recent years, Bangladesh has been devoting efforts for attracting FDI offering a lot of lucrative incentives and benefits. Though attempts taken to increase FDI inflow, the result achieved is not appreciable enough for Bangladesh. This term paper will portray the FDI inflow since 1995 and finds out causes and reasons of low-inflow based on data available in web. Here different indices have been shown graphically which have substantial impact on investment decision of foreign investors. Recent indices are illustrated and briefly analyzed here collected from Doing Business Report 2011, Human Development Report 2010, Bangladesh Economic Review 2011, Major economic indicators: monthly update (volume 06/2010), Bangladesh Bank and Global Competitiveness Report by Center for Policy Dialogue. Export data and information on EPZs have also been stated here importantly. Incentives for foreign investors offered by Bangladesh Government and competitive advantages of doing business in Bangladesh are two very important parts stated in this paper. It also finds out the impediments and highlighted prospects for FDI in Bangladesh and provides some recommendations for its enhancements.
Indonesia Investment Outlook and Policy DevelopmentNurman Hartono
This document provides an overview of investment opportunities and the economic outlook in Indonesia. It summarizes that Indonesia has seen strong and stable GDP growth in recent years, averaging over 5% annually. Foreign direct investment has also increased substantially each year and is concentrated in sectors like mining, food, and manufacturing as well as on the island of Java. The document promotes Indonesia as an attractive investment destination given its large population and middle class, strategic location in Asia, and political and economic stability in recent decades.
- DSP Top 100 Equity Fund invests primarily in large cap Indian stocks with a concentrated portfolio of about 30 stocks.
- The fund focuses on finding sustainable, scalable businesses with consistent returns and growth even through economic downturns.
- As of December 2021, the fund's top sectors were financials, materials, and healthcare. The largest themes in the portfolio included private banks, consumption, IT, infrastructure like cement, and pharmaceuticals.
Budget analysis of Bangladesh (FY 2009 10 to FY 2016-17)BablahKhan
This is a presentation of working paper on Budget analysis of Bangladesh ( FY 2009 10 to FY 2016-17). This contains all about those year budget and there have all comparative advantages , disadvantages. Lastly there have recommendation of all presenter.
Monthly Market Outlook (November 2021) | ICICI Prudential Mutual Fundiciciprumf
Equity Outlook: Equity markets pacing ahead now the Economy prepares to catch up.
Fixed income: RBI policy normalisation process may result in short-term rates moving higher and reduction in steepness of yield curve.
Similar to Investment opportunity in SOEs in INdonesia (20)
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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2. 2
Agenda I Indonesia’s Economy: Rapid & Sustainable Growth 2
II Profile of Indonesia’s State-owned Enteprises 5
III Investment opportunities in Indonesia’s State-owned
Enterprises
11
3. ECONOMIC INDICATORS
2012 Targets
2012
(real.)
2013 Targets
Mid Term
Plan
Annual
Plan
Mid Term
Plan
Annual
Plan
Economic Growth (%) 6,4-6,9 6.5 6.23 6,7-7,4 6.8
GDP per capita (USD) 3,170 N.A 3,563 3,445 N.A
Economic Stability
Inflation rate (%) 4,0-6,0 6.8 4,3 3,5-5,5 4.9
Nominal Exchange Rate
(Rp/USD)
9.250-
9.750
9,000 9,380
9.250-
9.850
9,300
Government Debt/GDP (%) 27 N.A 23 25 N.A
Investment Growth
(PMTB %)
8.4-11.5 9,5 9.81 10.2-12.0 11.9
Investment Value
(Trilion Rp)
283.5 N.A 313,2 390 N.A
Current Account
Export Growth (%) 11.4-12.0 14.1 2.01 12.3-13.4 11.7
Export Value (Billion USD) 190 N.A 190 194 N.A
Import Growth (%) 14.3-15.9 17.3 6.65 15.0-16.5 13.5
Import Value (Billion USD) 190 N.A 191.7 189 N.A
Unemployment and Poverty
Unemployment Rate (%) 6,7-7,0 6,1 - 6,4 6.14 6,0-6,6 5,8-6,1
Poverty Rate (%) 10,5-11,5
10,5-
11,5
11.66 9,5-10,5 9,5-10,5
Indonesian Economy:
Moving on the Right Track
1. Indonesian economy
performs as targeted;
2. 2nd fastest growing
economy in G20;
3. No longer fueled solely
by consumption,
investment grew by
9.81% in 2012;
3
Source: Bank Indonesia, Badan Ousat
Statistik, MoF, MoT
4. Future Growth is Blessed with Energetic Demographic Dividend
Japan 1950 Indonesia now
Indonesia’s demographic structure
resembles Japan in 1950, just before
they took off.
From 2010 – 2030, Indonesia’s working
age will rise, while dependency ratio
steadily drop, providing the necessary
human capital for sustainable growth &
development. 4
Source: BPS, The Economist, World Bank
5. 5
Agenda I Indonesia’s Economy: Rapid & Sustainable Growth 2
II Profile of Indonesia’s State-owned Enteprises 5
III Investment opportunities in Indonesia’s State-owned
Enterprises
11
6. 2008 2009 2010 2011 2012 2013
Listed/Public SOEs 14 15 17 18 19 19
Non Listed SOEs 113 112 111 109 109 109
Special Purpose Entity (Perum) 14 14 14 14 15 15
Total Number of SOEs 141 141 142 141 142 142
Enterprises with minority govt
ownership
21 19 18 18 13 12
2
25
4
5
31
5
2
3
22
16
22
1
2
Water Supply, Sewerage, Waste Management, and
Remediation Activities
Agriculture, Forestry, and Fishing
Wholesale and Retail Trade
Mining and Quarrying
Manufacturing
Professional, Scientific, and Technical Activities
Electricity, Gas, Steam, and Air Conditioning Supply
Information and Communication
Transportation and Storage
Construction
Financial and Insurance Activities
Accomodation and Food Service Activities
Real Estate Activities
6
Our Portfolio
SOEs’ Profile
As of December 2012, there are
142 SOEs and 12 companies by
which Government has
minority stake under Ministry
of SOEs ‘ administration.
MSOEs is the major
Government Proxy which
manages Government’s
majority shares in 142 State-
enterprises. The management
of the enterprises is carried out
by separate board of Directors
& Board of Commissioners,
using private/corporate
paradigm.
Operating in different kind of
industrial sectors, our portfolio
enables risk mitigation and
great opportunity of synergy; a
valuable capital to give greater
contribution for national
growth.
6
7. KINERJA PENGELOLAAN KEUANGAN KBUMN 2008-2011
1,971
2,241 2,341
2,947
3,433
502 566 570
689
818
1,086
951 964
1,378
1,551
26
30
28
30
33.5
0
50
100
150
200
250
300
350
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2008 2009 2010 2011 2012
Performance of Indonesia’s SOEs 2008-2012
Assets Equities Sales Net Income (consol) Dividends Taxes
Financial aspects 2008 2009 2010 2011 2012
Assets 1,971 2,241 2,341 2,947 3,433
Equities 502 566 570 689 818
Sales 1,086 951 964 1,378 1,551
Net Income (consolidated) 53 87 106 122 140
Dividends 26 30 28 30 33,5
Taxes 96 92 105 109 115
Notes: The 2008-2011 figures are audited performances, whilst 2012 figures are based on the most recent data which consist of 72
audited FS and 70 unaudited FS. For Dividend, 2008-2011 numbers are actual contribution from result of previous year performance.
Dividend for 2012 is target for state budget year of 2013. 7
8. Capex
Opex
146 T 176 T
1,159
T
374 T
SOEs 2012
(estimation)
State Budget
SOEs 2012
(estimation)
State Budget
8
SOE continues to provide significant contribution to Indonesia’s economy. SOEs’ sales
is 19% of Indonesia’s GDP, while assets growth for 2009 – 2012 reached 2-4 times of
GDP growth except for 2010. From the spending side, SOEs’ Capex is almost equal to
state’s budget and Opex even highly exceeded those of the state.
13.7%
4.5%
25.9%
16.5%
4.5%
6.1% 6.5% 6.2%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
2009 2010 2011 2012
Asset Growth GDP Growth
0
10
20
30
40
50
60
70
SOE Asset to Indonesia GDP Growth for the
period 2009 - 2012
9. SOEs 4-Jan-10 29-Apr-13 Growth Market Cap
1 BMRI 4,843 10,600 118.87% 244.86
2 BBRI 3,900 9,200 135.90% 224.69
3 BBNI 1,887 5,300 180.87% 97.85
4 BBTN 807 1,490 84.63% 15.58
5 ANTM 2,300 1,370 -40.43% 13.07
6 PTBA 17,800 15,150 -14.89% 34.91
7 TINS 2,125 1,430 -32.71% 7.20
8 INAF 83 290 249.40% 0.90
9 KAEF 127 990 679.53% 5.50
10 KRAS* 850 550 -35.29% 8.68
11 SMGR 7,600 18,350 141.45% 108.84
12 PGAS 3,950 6,300 59.49% 152.72
13 ADHI 410 2,975 625.61% 5.36
14 PTPP* 560 1,390 148.21% 6.73
15 WIKA 330 2,425 634.85% 14.81
16 WSKT* 380 780 105.26% 7.51
17 GIAA* 750 630 -16.00% 14.26
18 JSMR 1,850 6,700 262.16% 45.56
19 TLKM 9550 11,400 19.37% 229.82
Total Market Cap of SOE 1,238.85
Total Market Cap of IDX 4,867.00
Performance of SOEs’ Stock in IDX, 2010 - Today
There are 19 SOEs in IDX, out of
468 total listed companies or
4% in terms of proportion.
This 4% SOEs contributes a
significant proportion of market
capitalization, ie IDR 1,238
trillion, or 25% of total IDX
capitalization (per April 2013).
During the last 3 years, 10 out
of 19 listed SOEs outperformed
JCI’s growth (attained more
than 94.14% growth).
In the Forbes Global 2000 year
2012, out of 10 Indonesia’s
companies in the list, 6 are
SOEs.
*) KRAS was listed on Nov 9 2010, PTPP Feb 8th 2010,
WSKT Dec 18th 2012 and GIAA Feb 10 2011.
9
10. 10
Agenda I Indonesia’s Economy: Rapid & Sustainable Growth 2
II Profile of Indonesia’s State-owned Enteprises 5
III Investment Opportunities in Indonesia’s State-owned
Enterprises
11
1. SOEs’ Capex at a glance;
2. Potential Privatization of State-owned Enterprises and
their SOE subsidiaries;
3. Bond Issuance plans.
11. 2009 2010 2011 2012* 2013B
Top5SOEs 85.214.143 144.802.467 88.063.452 95.074.466 167.852.487
Top10SOEs 89.573.879 154.367.025 93.132.998 105.368.068 202.297.543
GrandTotal 107.337.954 273.739.748 130.328.237 146.108.751 250.620.032
%ageTop5 79,39% 52,90% 67,57% 65,07% 66,97%
%ageTop10 83,45% 56,39% 71,46% 72,12% 80,72%
SOEs’ Capital Expenditure: Commitment to Support Infrastructure Development
-
50
100
150
200
250
300
2009 2010 2011 2012 2013
Millions
State Owned Enterprise's Capital Expenditure
2009 - 2013B
Top 5 SOEs Top 10 SOEs Grand Total
Notes: The 2008-2011 figures are audited performances, whilst 2012 figures are based on the most recent data which consist of 72
audited FS and 70 unaudited FS. As for 2013 Budgeted figure, since by regulation it is prohibited for public companies to disclose their
budget, the capex numbers for 19 listed SOEs are based on shareholder’s expectation.
Although total SOEs investment
depicted a significant downturn in
2011; the trend have begun to show
a positive growth.
Along with MSOEs policy to focus on
making SOEs as the engine of
growth, SOEs are encouraged to
explore profitable investment
especially those in infrastructure
development to support national
demands.
In 2013, total investment is
projected to reach Rp. 250 Trillions
(or increase more than 70% from
2012 figure) which part of them are
linked with MP3EI as an national
integrated effort to lever
infrastructure availability.
In Rp. Millions
11
12. -
5.0
10.0
15.0
20.0
Comm. 16.8 17.4 17.2 16.1 17.4
SOE 14.0 14.0 15.4 15.0 16.2
2008 2009 2010 2011 2012
-
20.0
40.0
60.0
80.0
100.0
Comm. 88.6 86.6 86.1 85.4 74.1
SOE 89.9 92.4 88.2 91.9 70.5
2008 2009 2010 2011 2012
-
1.0
2.0
3.0
4.0
Comm. 2.3 2.6 2.9 3.0 3.1
SOE 2.7 2.7 3.1 3.6 3.8
2008 2009 2010 2011 2012
-
20.0
40.0
60.0
80.0
100.0
Comm. 74.6 72.9 75.2 78.8 83.6
SOE 70.3 69.6 71.5 74.8 79.8
2008 2009 2010 2011 2012
Still unfavorable CAR against commercial bank,
with narrow variance for the last 2 years
Lower BOPO than commercial bank
for the 1st time in 5 years
Favorable result in LDR, but the highest to cover
unforeseen fund requirement for the last 5 years
Higher ROA for the last 5 years,
as driven by high interest spread/margin
SOEs’ Bank vs Commercial Bank: a bright prospect as economic trend will protect
the Indonesia banks' strong capital generation capacity
14. Semen Baturaja
profitability
measures are very
competitive despite
of the lowest market
share compared
with the 3 giants
44% market share for Semen Gresik
Cement Sector: strong start to the year off to a flying start, with Semen Gresik to
enjoy additional capacity & as the top pick
15. Market Share – WIKA as the leader, extremely rosy
Outperform JCI by 24%
2009 2010 2011 2012
Gross Margin, %
WIKA 9.8% 11.2% 11.2% 11.3%
ADHI 9.7% 13.6% 11.9% 13.7%
PTPP 11.1% 11.7% 12.6% 12.4%
WAKA 9.8% 9.8% 9.1% 8.3%
TOTL 9.6% 12.7% 15.6% 19.0%
Net Margin, %
WIKA 2.9% 4.7% 4.6% 4.7%
ADHI 2.1% 3.3% 2.7% 2.8%
PTPP 3.9% 4.6% 3.9% 3.9%
WAKA 1.1% 2.1% 2.4% 2.9%
TOTL 3.0% 5.2% 7.9% 9.9%
ROAE, %
WIKA 12.2% 16.0% 17.1% 18.2%
ADHI 24.7% 23.6% 19.6% 19.5%
PTPP 33.6% 22.3% 17.9% 20.1%
WAKA 70.1% 31.6% 32.1% 19.3%
TOTL 10.6% 14.5% 19.7% 26.7%
ROAA, %
WIKA 3.1% 3.6% 3.3% 3.0%
ADHI 3.3% 4.8% 4.9% 4.8%
PTPP 4.7% 4.2% 3.9% 4.0%
WAKA 1.9% 3.5% 3.7% 3.8%
TOTL 4.0% 5.1% 6.6% 8.5%
DER
WIKA 0.1 0.2 0.2 0.4
ADHI 1.2 1.0 0.7 0.8
PTPP 1.9 0.9 1.0 1.1
WAKA 0.3 0.2 0.2 0.2
TOTL 0.1 0.1 0.1 0.1
Construction Sector – Growth in spades
Extend its rerating even though the sector has outperformed the JCI by 24%
16. Telecommunication – Data as the source of Growth
Rational behavior of the incumbents & maintaining capex
TLKM as the biggest capex spending
Aggressive # of BTS – TLKM as the highest for both 3G & 2G
2009 2010 2011 2012
EBITDA Margin
TLKM 54.3% 54.4% 51.8% 51.5%
ISAT 47.7% 48.6% 45.7% 45.6%
EXCL 44.4% 52.4% 49.4% 45.1%
ROAA
TLKM 12.1% 11.7% 10.8% 12.0%
ISAT 2.8% 1.2% 1.6% 4.7%
EXCL 6.1% 10.6% 9.7% 7.9%
ROAE
TLKM 31.2% 27.8% 23.9% 25.9%
ISAT 8.5% 3.6% 4.6% 12.7%
EXCL 26.1% 28.2% 22.3% 18.0%
Gearing
TLKM 58.6% 49.6% 37.6% 37.4%
ISAT 126.8% 143.0% 136.0% 128.2%
EXCL 211.0% 132.6% 127.6% 130.7%
Market Share – TLKM still dominating
Cellular Revenue Share
TLKM
58%
ISAT
20%
EXCL
22%
Subs Market Share
EXCL
21%
TLKM
55%
ISAT
24%
17. Secondary Public Offering of PT
Aneka Tambang Tbk (2013)
• Antam is a vertically integrated,
export-oriented, diversified
mining and metals company.
This SOE has long term loyal
blue chip customers in Europe
and Asia.
• Strong financial performance.
• Promising prospect for business
expansion
• Proceeds will be used for
expansion, including
development of FeNi mining in
Eastern Kalimantan and
modernization of Pomalaa
project.
• Will result in tax cuts as public
ownership exceeds 40%.
INVESTMENT Capex
(Projection, 2012)
% of Ownership
(Projection 2012)
CGA USD 490 million 80%
MOP PP USD 496,27 100%
FeNi Haltim USD 1,6 billion
(Incl Power Plant)
100% in 2012. 80%
in 2013 (IPO in
2015 for the
remaining 29%)
Sponge Iron USD 150 million 34%
SGA Mempawah *) USD 1.5 billion 50%
Acquisition of NHM USD 130 million+
USD 30 milliom
Added 7.5% to be
25%
Several major investments
17
18. Initial Public Offering of
PT Semen Baturaja
• PT Semen Baturaja is one among 3 SOEs in cement
industry. The companies located in southern
Sumatra and operates using 3 cement plants which
from 2011 have reached their maximum capacity.
• With the growing domestic demand due to
promising national development in recent years,
national producers are still lacking in fulfilling those
needs. Indonesian Cements Association forecasts a
6% increase in cement output and expects cement
demand to increase by 8 – 10% in 2013; while
current national production doesn’t even able to
fulfill current demand.
• The company is in urge to invest in a new plant with
1,5 million ton/year capacity which estimated will
need Rp. 2,5 Trillion fund in order to maintain their
market share in Southern Sumatra.
• The IPO expected proceeds, valued to be Rp. 1
Trillion, will be used to partly finance the
investment whilst the rest would be financed by
internal fund (Rp. 1 T) and debt (Rp. 0,5 T).
Market Share in Southern Sumatra*
31% 31%
29%
26%
24% 23%
21% 20%
18% 17% 16% 15%
31% 31%
29%
26%
29%
31% 32%
30%
48% 47%
44%
41%
0%
10%
20%
30%
40%
50%
60%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Without Additional Investment With Additional Investment
*assuming 8% growth in demand
19. Potential Initial Public Offering of
PT Pertamina Gas
(Subsidiary of PT Pertamina)
PT Pertamina Gas is a company
active in the midstream and
downstream sectors of the
Indonesian gas industry. It is a
subsidiary of PT Pertamina
(Persero) involved in trading,
transportation, processing and
other businesses related to natural
gas and its byproducts.
Description 2009 2010 2011 2012
1 Sales 1,481,574 2,015,755 2,377,314 3,754,235
2 Net Profit 198,037 573,302 807,700 1,148,845
3 Assets 1,668,593 4,331,855 5,361,316 7,034,126
4 Equities 471,456 2,755,250 3,424,226 4,497,335
In million IDR
19
20. 20
Potential Initial Public Offering of
PT GMF Aero Asia
(Subsidiary of PT Garuda Indonesia Tbk)
• PT GMF AeroAsia is an International
aircraft MRO services. It is a subsidiary of
PT Garuda Indonesia Tbk.
• It holds federal aviation administration
certification since 1992, and EU ASA since
2003.
• GMF has customers is more than 50
countries in 5 continents.
• Its services includes
base/engine/line/component
maintenance material services and
learning services.
• GMF carried out section 41 inspection &
modif on B747s, and selected to take part
in lap joint program for B737-400.
21. 21
Potential Initial Public Offering of
PT Aerowisata
(Subsidiary of PT Garuda Indonesia Tbk)
• Aerowisata is the biggest subsidiary of
PT Garuda Indonesia Tbk, providing
international flight catering services,
hotel & resort, travel & leisure, land
transportation and cargo.
• Aerowisata keeps expanding its
business network to business centers
or domestic and interational tourist
destination.
• Aerowisata has 25 domestic business
area, and 12 international business
area.
• It has 13 subsidiary, which includes
Aerofood ACS (leading airline catering),
Aerotrans (operates > 1000 units of
vehicles), Aerowisata Hotels (located
strategically across Indonesia) and
Aerowisata Travels.
22. No SOEs Amount Denomination
1 PT PNM Rp. Million 1,000,000 Domestic bond
2 PT DANAREKSA Rp. Million 1,000,000 Domestic bond
3 PT PEGADAIAN Rp. Million 7,000,000 Domestic bond
4 PT BTDC Rp. Million 500,000 Domestic bond
5 PT Bank BTN Rp. Million 2,000,000 Domestic bond
6 PT Hutama Karya Rp. Million 750,000 Domestic bond
7 PT Brantas Abipraya Rp. Million 500,000 Domestic bond
8 PT PLN Rp. Million 12,000,000 Domestic bond
9 PT Garuda Indonesia US$ thousands 200,000 Domestic bond
10 PT Antam Rp. Million 1,000,000 Domestic bond
Rp. Million
equivalent
7,961,000 Global bond
11 PT Pertamina US$ thousands 4,400,000 Global bond
Bond Issuance Plans By SOEs in 2013
22
23. DISCLAIMER:
“We are not in a position to advise you, we are not advising you, and
the contents of this presentation must not be construed as any
advice to you, on (a) whether to invest in Indonesia’s SOEs or, (b) if
you hold an investment in Indonesia’s SOEs, the value of your
investment or how or whether you can effect any trades relating to
your investment. These queries should be addressed to a licensed
advisor from or through whom you bought the relevant investment,
respectively.”
23