STOCKS NEWS INDONESIA-Kalbe Farma gains on full-year profit growth
Shares in Indonesian health product firm PT Kalbe Farma rose 2.7 percent on Tuesday after it announced unaudited full-year 2012 results.
Southeast Asia's top pharmaceutical firm said net profit reached 1.73 trillion rupiah ($178.89 million), up 17 percent from last year. Net sales were 13.63 trillion rupiah, an increase of 24.9 percent.
Kalbe said it expects targeted year-on-year revenue growth and net earnings of 15-18 percent in 2013, with an expected capital expenditure of up to 1.5 trillion rupiah.
"We expect Kalbe to continue its strong performance in 2013 despite the increase in costs. The company generally increases the average selling price by 3-5 percent, which we think could cover cost hike from higher minimum wage and up to 5-10 percent Indonesian rupiah depreciation," Nomura Equity Research said in a note on Tuesday.
Kalbe shares were up 1.82 percent at 1,120 rupiah, while the broader Jakarta Composite Index was down 0.3 percent.
1139 (0439 GMT)
(Reporting by Andjarsari Paramaditha; Editing by Jijo Jacob) **************************************************************** 11:01 05Feb13 -STOCKS NEWS INDONESIA-Multipolar, Matahari continue rally on acquisition deal Shares of Indonesian retailer and IT firm PT Multipolar and supermarket operator PT Matahari Putra Prima jumped as much as 18 percent each on Tuesday, continuing their rallies into a second day following an acquisition deal.
Singapore's state investor Temasek Holdings will indirectly buy a 26.1 percent stake in Indonesia's second biggest hypermarket-chain operator worth $300 million via its controlling shareholder Multipolar, as it aims to tap growing consumer demand in Indonesia
The deal, if concluded, will make Temasek one of the major shareholders in Matahari, beating international retailers such as Wal-Mart Stores Inc that have been trying to buy into the company over the last few years.
Since October, private equity firm CVC Partners has hired CIMB, Morgan Stanley and UBS to sell a stake worth as much as $3.5 billion in Indonesian group PT Matahari Department Store, attracting Japan's Aeon Co Ltd and a unit of Thailand's Central Group.
Multipolar, Matahari Putra Prima and Matahari Department Store are controlled by Indonesian conglomerate Lippo Group.
Multipolar's shares were up 13.64 percent at 500 rupiah while Matahari Putra's shares rose 15.96 percent at 1,770 rupiah. The broader Jakarta Composite index was down 0.11 percent.
1040 (0340 GMT)
($1 = 9,670 rupiah) (Reporting by Andjarsari Paramaditha, Editing by Sunil Nair)
- U.S. pledges 3,000 troops to fight Ebola; experts say more needed
- Tesla prevails in top Massachusetts court over direct sales
- Russia needs government investment to avoid recession, says former finance minister
- Ahead of independence vote, Britain pledges state funding to Scotland |
- Stocks turn higher ahead of Fed meeting, oil up