BII names IDR1 trillion bond underwriters

Wandrik Panca Adiguna
Wandrik Panca Adiguna - 09 Desember 2010  |  01:44 WIB

JAKARTA: PT Bank Internasional Indonesia (BII) Tbk has named PT Bahana Securities, PT Mandiri Sekuritas, and PT Indo Premier Securities to underwrite its bond worth IDR1 trillion.

One Bisnis source confided the company was also pitching to issue sub-debt. "If the plan is realized, BII will issue sub-debt and senior bond. The bonds will be issued next year," he said yesterday. When Bisnis tried to reach Director of BII Thilagavaty Nadason for confirmation, he didn't answer his cell phone or reply a text message that Bisnis sent yesterday. At the moment, the shareholders of BII are Sorak Financial Holdings Pte Ltd (54.33%), Maybank Offshore Corporate Services (Labuan) Sdn Bhd (43.08%), and the public (2.59%). Malaysian Bank Bhd asks for time extension to dispose of its shares in BII after on Friday last week the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) said it had given a six-month additional time to June 1, 2011 to the Malaysian bank. Maybank makes its request for time extension if the process of disposing of shares to public investors leads to a loss of more than 10%. After acquiring BII in 2008, Maybank is required to increase its public shares ownership. The Bapepam-LK regulation reads that one party acquiring more than 80% shares of a publicly listed company has to dispose of 20% shares minimum to at least 300 parties within no more than two years after the share acquisition. The sales plan yesterday bolstered BII share price in the market. BII share yesterday closed at IDR810, up by 9.46% from IDR740 early this week, making it have a market cap of IDR45.58 trillion. In early November, BII share price hovered at only IDR350. Bank Jabar Banten Another Bisnis source confided PT Bank Pembangunan Daerah Jabar Banten Tbk (BJB) had named PT Bahana Securities and PT Trimegah Securities Tbk to underwrite its IDR2 trillion bond. He revealed the bond would be issued early next year. "The volume of bond issued is worth around IDR2 trillion with various tenures," he informed last week. Previously, there were several securities firms competing to become the underwriter, such as Danareksa Sekuritas, Bahana Securities, and Mandiri Sekuritas. Bisnis asked for confirmation from Tatang Sumarna, the Consumer Director of BJB, but he didn't call his cell phone. The bank until the third quarter of 2010 recorded IDR791.3 billion in net profits, rising from IDR709.11 billion throughout 2009. Its asset until September 2010, in the meantime, reached IDR42.53 trillion, up 31.22% from IDR32.41 trillion throughout 2009. Until September, BJB lent IDR22.38 trillion and gathered IDR33.75 trillion in third-party fund. BJB lent some of its funds to small and medium enterprises (SMEs) through the Mitra Prioritas program. Moreover, the company also participated in several loan syndications with other banks to finance infrastructure projects, such as toll road, telco, property, power plant, regional loan, and consumer loan projects. At the moment, BJB is expanding its office networks to outside West Java and Banten to spur business growth. The company targets to own 100 branch offices, 550 supporting branch offices, and 175 cash offices by 2015. BJB share price yesterday closed at IDR1,600, up 1.27% from IDR1,580 early this week, making it have a market cap of IDR9.59 trillion.(iaa/hta/wiw)

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