ASII.JK - PT Astra International Tbk

Jakarta - Jakarta Delayed Price. Currency in IDR
6,425.00
0.00 (0.00%)
At close: 4:14PM WIB
Stock chart is not supported by your current browser
Previous Close6,425.00
Open6,475.00
Bid0.00 x 0
Ask0.00 x 0
Day's Range6,375.00 - 6,500.00
52 Week Range6,375.00 - 8,775.00
Volume29,465,900
Avg. Volume28,468,369
Market Cap260.107T
Beta (3Y Monthly)1.10
PE Ratio (TTM)12.36
EPS (TTM)520.00
Earnings DateOct 28, 2019 - Nov 1, 2019
Forward Dividend & Yield214.13 (3.29%)
Ex-Dividend Date2019-05-07
1y Target Est8,917.10
  • OCBC, Have You Told the President?
    Bloomberg

    OCBC, Have You Told the President?

    (Bloomberg Opinion) -- “Do you have Jakarta’s blessing?” That’s the first question Oversea-Chinese Banking Corp. CEO Samuel Tsien will be asked by investors about his plan to buy Indonesia’s PT Bank Permata.OCBC is weighing a bid for Standard Chartered Plc’s Indonesian bank, Bloomberg News has  reported, citing people with knowledge of the matter. Deliberations are still at an early stage and may not result in a deal. And even if they do, there’s the government to consider.OCBC is one of Singapore’s three homegrown banks and Indonesia has been touchy in the past about ceding control of its lenders to the neighboring city-state. Just ask DBS Group Holdings Ltd. The larger rival to OCBC had to walk away from a $6.5 billion acquisition of PT Bank Danamon Indonesia in 2013 after Jakarta kicked up a fuss about lack of reciprocity for Indonesian banks getting licensed in Singapore. The central bank curbed the DBS plan for full ownership to a minority stake.Will Jakarta be more comfortable six years later? The afterglow of the China commodity boom still-prevalent back then is long gone, and Susilo Bambang Yudhoyono’s sclerotic late presidency has been replaced by a possibly re-energized Joko Widodo beginning his second term. Tsien’s overture for 90% of Permata will show how much has really changed.Like Danamon, Permata is a mid-tier Indonesian bank. Standard Chartered has a near 45% stake, though most of the value in the franchise comes from equal partner PT Astra International. Southeast Asia’s largest independent automotive group controls half of Indonesia’s car market thanks to partnerships with Toyota Motor Corp. and Daihatsu Motor Co. No wonder auto financing is Permata’s core competence.The bank’s 4.2% return on tangible common equity last year may be unappetizing for StanChart CEO Bill Winters, who has promised to deliver 10% to his own investors by 2021, a goal the U.K.-based specialist lender to emerging markets hasn’t hit in several years. StanChart, which has a separate wholly owned operation in Indonesia, said in February that it no longer considers Permata to be a core investment.But things may look very different from Tsien’s perspective. OCBC faces the prospect of a trade war-induced slowdown in its home market. Singapore recently slashed its GDP growth estimate for 2019 to between zero and 1%. The bleak outlook is a “bad omen for bank lending,” according to Bloomberg Intelligence. Mind you, Indonesia won’t be a perfect sanctuary: the rupiah could wobble as global risk aversion takes hold and capital rushes into dollar assets. Still, Bank Indonesia has done a good job of anchoring inflation expectations. Aided by higher fiscal spending, domestic demand should hold up even as the global economy sputters.It was poor luck for the news to break on the day the U.S. yield curve inverted, signaling a high possibility of an imminent recession. Sure enough, the fall in OCBC’s share price Thursday seems to suggest that the bank’s dividend-loving investors would rather that Tsien returned more cash than go on a shopping spree in these uncertain times. They should at least be grateful that OCBC is not doubling down on its 20% ownership of China’s Bank of Ningbo Co. Besides, strategic considerations may be more important than tactical ones. Mitsubishi UFJ Financial Group now owns 94% of Danamon.That highlights a problem for the Singaporeans: Their Japanese rivals are looking to offer multinational clients access to the local-currency balance sheets of their Southeast Asian affiliates, in addition to cheap yen financing arranged by headquarters in Tokyo. Both OCBC and DBS want a share of this corporate banking pie.OCBC already has a presence in Indonesia, where it owns 85% of Bank OCBC NISP. Given Indonesia’s juicy net interest margins, owning another lender there can’t hurt, provided two conditions are met. One, Astra’s departure from Permata shouldn’t mean the end of car-financing. Two, Indonesia shouldn’t make this a repeat of the 2013 nationalistic drama. A distracting, long-drawn transaction that eventually gets scuttled would be the worst possible outcome for OCBC shareholders. They’ll be watching for Jakarta’s answer.To contact the author of this story: Andy Mukherjee at amukherjee@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Moody's

    Federal International Finance (P.T.) -- Moody's affirms Federal International Finance's Baa2 long-term ratings; outlook stable

    Moody's Investors Service has today affirmed Federal International Finance (P.T.) (FIF)'s Baa2 long-term local and foreign currency issuer ratings, and Prime-2 (P-2) short-term local and foreign currency issuer ratings. Moody's has also affirmed the company's long-term foreign currency senior unsecured medium-term note (MTN) program rating of (P)Baa2, as well as its long-term foreign currency senior unsecured rating of Baa2. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

  • Reuters

    SE Asia Stocks-Most slip; Indonesia falls most as consumer staples drag

    * Unilever biggest drag in Indonesia * Ayala Land biggest boost to Philippine index on listing plans By Ambar Warrick April 25 (Reuters) - Indonesian shares hit a near 1-1/2-month closing low on Thursday ...

  • Reuters

    SE Asia Stocks-Indonesia rises; others trade flat-to-lower

    * Indonesian stocks rise after profit taking on Monday * Philippine stocks down; trading thin in wake of earthquake By Ambar Warrick April 23 (Reuters) - Indonesian stocks rose, while most other Southeast ...

  • Reuters

    SE Asia Stocks-Indonesia falls on profit-taking, most others end flat

    * Oil prices hit 2019 high on Iranian crude exports ban * Indonesia interest rate decision due on Thursday * Malaysia, Philippines, Vietnam, Thailand end little changed By Mensholong Lepcha April 22 (Reuters) ...

  • Reuters

    SE Asia Stocks-Most gain as U.S. growth concerns abate; Indonesia falls

    * Indonesia falls more than 1 percent * Philippines on track for third straight session of gains April 22 (Reuters) - Most Southeast Asian stock markets advanced on Monday as a string of strong U.S. corporate ...

  • Reuters

    SE Asia Stocks-Most rise ahead of China's growth data; Vietnam drops

    * Vietnam posts lowest close in nearly 3 weeks * Philippines snaps three consecutive sessions of losses * Indonesian presidential elections on April 17 By Shreya Mariam Job April 16 (Reuters) - Most Southeast ...

  • Reuters

    SE Asia Stocks-Philippines hits over 1-month closing low; Indonesia gains

    * Philippines posts third consecutive loss * Singapore snaps four sessions of gains * Thai, Vietnam markets closed By Shreya Mariam Job April 15 (Reuters) - Philippine stocks closed at their lowest level ...

  • Reuters

    SE Asia Stocks-Rise on signs of recovery in Chinese economy

    * Indonesia up after 3 straight sessions of losses * Singapore heads for 5th straight session of gains By Shreya Mariam Job April 15 (Reuters) - Most Southeast Asian stock markets edged higher on Monday ...

  • Reuters

    SE Asia Stocks-Most end weaker on global growth worries, trade friction

    * Investors eye China March trade data * Malaysia posts third straight session of losses * Philippines snaps three sessions of gains By Shreya Mariam Job April 11 (Reuters) - Most Southeast Asian stock ...

  • Reuters

    SE Asia Stocks-Most fall ahead of China trade data; Singapore up

    * Philippines down after three sessions of gains * Malaysia Feb industrial data due later in day By Shreya Mariam Job April 11 (Reuters) - Most Southeast Asian stock markets edged lower on Thursday as ...

  • Reuters

    SE Asia Stocks-Most end firmer on China stimulus hopes

    * China's move to relax residency curbs lifts broader sentiment * Cautious investors seek clarity on Sino-U.S. trade talks * Vietnam snaps three session of gains to end lower By Shreya Mariam Job April ...

  • Reuters

    SE Asia Stocks-Most fall ahead of cenbank policy meetings; Thailand gains

    * Indonesia snaps four sessions of gains * Thailand up after 3 sessions of losses By Shreya Mariam Job March 19 (Reuters) - Thai shares rose nearly 1 percent in thin trade on Tuesday, snapping three straight ...

  • Reuters

    SE Asia Stocks-Most subdued ahead of cenbanks' policy decisions; Indonesia drags

    * Thailand on track to snap three sessions of losses * Malaysia February inflation expected to fall * Singapore set to snap three sessions of gains By Shreya Mariam Job March 19 (Reuters) - Most Southeast ...

  • Reuters

    SE Asia Stocks-Most rise as Fed seen accommodative; Philippines bounces back

    * Thai stocks fall for third consecutive session * Indonesia hits more than two-week closing high By Shreya Mariam Job March 18 (Reuters) - Most Southeast Asian stock markets rose on Monday, with Philippines ...

  • Moody's

    Bank Permata Tbk (P.T.) -- Moody's affirms Bank Permata's Baa3 ratings with a stable outlook; upgrades BCA to ba1

    Moody's Investors Service has affirmed Bank Permata Tbk (P.T.)'s long-term local and foreign currency deposit ratings of Baa3, as well as its Adjusted Baseline Credit Assessment (Adj. The outlook on all long-term ratings, where applicable, is stable. A full list of the ratings is provided at the end of this press release.

  • Reuters

    SE Asia Stocks-Most fall on weak China trade data, global growth woes

    * Vietnam on track to post 0.9 pct weekly gain * Philippines set to snap two straight sessions of gains By Shriya Ramakrishnan March 8 (Reuters) - Most Southeast Asian stock markets slipped on Friday in ...