STOCKS NEWS INDONESIA-Unilever Indonesia falls on higher royalty fee

Wed Dec 12, 2012 8:17am GMT

Quotes

   

Shares of PT Unilever Indonesia slumped as much as 12 percent on Wednesday after the consumer goods producer said it agreed to pay a higher royalty fee to Netherland-based parent company Unilever N.V.

Unilever Indonesia has agreed to sign five-year trademark licence, technology licence and central service agreements with the parent company for about 20 percent to 50 percent of Unilever Indonesia's equity.

As of Jan. 1, next year, the Indonesian subsidiary has agreed to pay 5 percent fee and a maximum of 3 percent actual cost recovery, compared with the current 3.5 percent fee.

Unilever Indonesia shares fell 11.56 percent to 22,950 rupiah, after touching a low of 22,750 rupiah. The broader Jakarta Composite index rose 0.16 percent.

1040 (0340 GMT) (Reporting by Andjarsari Paramaditha, Editing by Anand Basu) *************************************************************** 13:07 STOCKS NEWS INDONESIA-Bumi Resources surges on funding proposal

Shares in PT Bumi Resources, Asia's biggest coal exporter, jumped as much as 8.77 percent on Wednesday after financier Nat Rothschild said on Tuesday he had received investment proposals from top funds.

Rothschild said he has secured the support of 11 investors including Abu Dhabi, Schroders and Standard Life as he seeks to counter efforts by his former partners in Bumi Plc to dismantle its Indonesian coal mining venture. He said investors have committed to injecting fresh cash into Bumi - a total of $342.5 million including his own commitment to put in $75 million.

Bumi Resources shares have nosedived 78 percent from their year-high in February, as of Tuesday's close.

Shares of the coal miner were up 7.02 percent at 610 rupiah, and were the sixth highest traded with volume of 111 million. The broader index was up 0.2 percent.

1212 (0512 GMT)

(Reporting by Andjarsari Paramaditha, Editing by Jijo Jacob) *************************************************************** 11:40 STOCKS NEWS INDONESIA-Bakrieland rises on assets sale

Shares in property developer PT Bakrieland Development rose 3.64 percent on Wednesday after the company said it would sell some assets. Bakrieland, controlled by the politically connected Bakrie family, will sell PT Bakrie Toll Road which owns five toll roads worth 2 trillion rupiah ($207.58 million) and a 50 percent stake in Lido Resort worth 1 trillion rupiah, CEO Ambono Januarianto told local media on Tuesday. The Bakrie Group, which had run into debt problems, was reportedly looking to sell assets including stakes in its mining and pipe units. Shares of the real estate company were up 3.64 percent at 57 rupiah with the highest volume traded, while the broader index was up 0.11 percent. 1115 (0415 GMT)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.