February 20, 2013 / 6:12 AM / in 5 years

STOCKS NEWS INDONESIA-Bank International Indonesia rises on earnings

Shares in PT Bank International Indonesia jumped as much as 9.64 percent on Wednesday, after the company announced its full-year 2012 results.

Net profit rose 81 percent to 1.2 trillion rupiah ($123.68 million) compared with the previous year. Interest income rose 33 percent from a year earlier to 5.3 trillion rupiah, BII said in a filing with the stock exchange on Wednesday.

The lender’s shares were up 4.82 percent at 435 rupiah. The broader Jakarta Composite Index was up 0.47 percent.

1253 (0553 GMT)

(Reporting by Andjarsari Paramaditha in Jakarta, Editing by Anupama Dwivedi)

**************************************************************** 12:48 STOCKS NEWS INDONESIA-Citi initiates coverage of media sector

Citi Research started coverage of Indonesia’s media industry, citing strong economic growth and a rising middle class that has set the country on course to rapid advertising spending growth.

Television accounts for around 70 percent of the nation’s ad market, the highest in the region, said Ferry Wong, the head of Jakarta-based Citi Equity Research, adding that prime-time TV ad rates are still low at $3,000-4,000 per 30 seconds compared with $9,000-13,000 in Malaysia, Thailand, India and the Philippines.

The research house’s top picks are Surya Citra Media and Media Nusantara Citra, both rated ‘buy’ with target price of 3,000 rupiah and 3,400 respectively.

“SCMA is Indonesia’s most profitable TV broadcaster with a 40 percent net margin and 5 percent dividend yield, and MNCN controls 40% of the free-to-air (FTA) TV audience,” the note said.

Citi also initiated Indosiar Karya Media with a ‘buy’ rating and target price of 1,190 rupiah, while pay-tv operator MNC Sky Vision was rated ‘neutral’ with target price of 2,350 rupiah.

The broader index was trading up 0.48 percent.

1223 (0523 GMT)

(Reporting by Andjarsari Paramaditha in Jakarta, Editing by Jijo Jacob) **************************************************************** 10:11 STOCKS NEWS INDONESIA-Trans Power Marine soars on debut

Shares in PT Trans Power Marine Tbk jumped as much as 50 percent after its trading debut on Wednesday. The Indonesian shipping company issued 395 million new shares for its initial public offering, priced at 230 rupiah per share, aiming to raise 90.9 billion Indonesian rupiah ($9.37 million). Trans Power, the fifth company to list on the Indonesian stock exchange this year, operates 30 ships in Java and Kalimantan and will use the IPO proceedings for to buy new ships and business expansion. BCA Sekuritas was the lead underwriter for the IPO. The stock was trading at 345 rupiah with a volume of 11.4 million shares. The Jakarta Composite Index was up 0.47 percent. ($1 = 9,702.5 rupiah) 0952 (0252 GMT) (Reporting by Andjarsari Paramaditha, Editing by Anupama Dwivedi)

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