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M&A ACTION IS INCREASINGLY RAMPANT
JAKARTA
- A number of issuers plan merger and acquisition actions as a strategy to
boost performance and enlarge the company's assets.
Based
on data collected by Bisnis, there
are at least 17 issuers preparing M & A actions by 2018.
This
publisher consists of 4 publicly listed mining, 4 infrastructure and building
materials, and 3 hospitals and pharmaceutical sectors. (see Table)
Corporate
Secretary of PT Golden Energy Mines Tbk. (GEMS) Sudin revealed that the company
is still on track to acquire PT Barasentosa Lestari (BSL).
"From
the Ministry of Energy and Mineral Resources we were granted permission on
April 27, 2018. Hopefully with Singaporean parents soon finish as well, so the
acquisition realization in June," he told Bisnis.
After
the approved BSL acquisition with a total of US $ 65.64 million, GEMS coal
reserves will grow 194.6 million tons.
In
addition, jumbo acquisition is being finalized by PT Adaro Energy Tbk (ADRO).
Adaro Energy's President Director Garibaldi Thohir said the company is still in
the process of acquiring Kertel's Australian coking acquisition process.
Together
with EMR Capital, Adaro wants to take over 80% of Rio Tinto's stake in the
mine. The acquisition value reached US $ 2.25 billion with Adaro contribution
contributing 49% faster.
"Hopefully
in May or June this transaction will be completed, and Adaro will be faster in
coocking coal business development," he said.
Meanwhile,
the registered oil and gas trading company, PT Himalaya Energi Perkasa Tbk.
(HADE) targets the acquisition of Panca Sinergi Perkasa to be completed by the
end of 2018. Piter said the acquisition will require Rp390 billion and will be
sourced from the rights issue of HADE.
"After
the acquisition of PSP, profits and profits will increase in 2019 because PSP already
has a contract purchase and purchase of electricity mini hydro power plant with
PLN," said Director of Himalaya Energi Perkasa Piter Rasiman.
Meanwhile,
listed producers of chemicals and oil palm plantations PT Eterindo Wahanatama
Tbk. (ETWA) targets the merger process with its partner companies to be
completed in the third quarter of 2018.
Director
of Eterindo Wahanatama Azwar Alinudding said that ETWA has formed informal
agreements with strategic partners. The process of merger settlement with partners
engaged in the oil palm plantation business is expected to spur the operational
and financial performance of the company.
Ticker |
M&A |
Nilai |
HADE |
Acquisition of PT Panca Sinergi Perkasa |
Rp390 billion |
SMGR |
Acquisition of Mortar Plant |
Rp200 billion |
RAJA |
Acquisition of gas distributor company |
US $ 55 million |
NICK |
Acquisition of the property company Jaksel |
Rp12 billion |
BRPT |
Acquisition of Star Energy |
US $ 755 million |
ADRO |
The acquisition of Rio Tinto shares at the
Kerstel mine |
US $ 2.5 billion |
KAEF |
Acquisition of 1 pharmaceutical company and
2RS |
Rp2.3 trillion |
MDKA |
Acquisition Finders Resources Limited |
US $ 50 million |
GEMS |
Acquisition of PT Barasentosa Lestari (BSL) |
US $ 65.64 million |
PPRE |
Acquisition of erector and foundation
companies |
Rp320 billion |
WSBP |
Acquisition of an iron plant |
Rp500 billion |
TOWR |
Acquisition of PT Komet Infra Nusantara |
Rp1.4 trillion |
SRAJ |
Merged with Bogor Medical Center |
Rp300.18 billion |
INPS |
Acquisition of PT Jono Gas Pejagalan |
Rp19 billion |
ABMM |
Acquiring a coal mine |
US $ 200 million |
ETWA |
Merger with a plantation company |
Rp260 million |
PT Royal |
Hospital acquisition |
Rp400 million |
Prima Tbk* |
|
Source:
Company, News, processed.
Director
of Investa Saran Mandiri Hans Kwee conveyed, the lambing sector that dominates
M & A action as commodity prices are heating up in the last 2 years.
"Mining
companies are gaining momentum in price fixes to improve performance, thus
expanding inorganic expansion," he said, Thursday (3/5).
MOMENTUM EXPANSION
Meanwhile,
infrastructure and building materials sector received positive sentiment from
the government agenda focusing on infrastructure development that encouraged
related companies to expand capacity.
Vice
President of Research and Analyst PT Valbury Securities Indonesia Nico Omer
Joncheere said M & A actions can benefit the issuer because it can build
synergies to save costs, take brands or technology, and add resources.
Analysts
at PT OCBC Sekuritas Indonesia Liga Maradona said M & A action is usually
based on two considerations, that is easier and cheaper to add or diversify
products, and consolidate with partner companies that have unique or strategic
value. Issuers that acquire hospitals, for example, do not have to bother to
start development from scratch and reach new markets.
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