IPO: Austindo Nusantara Jaya Tbk Phillip Securities Indonesia Research April 17, 2013
A
ustindo Nusantara Jaya (ANJ) was established in 1985. ANJ is the holding company of Austindo Group, which has core business in oil palm. The group also has minority investment in businesses that it does not directly control or manage. ANJ is a private Indonesian company, wholly owned by the Tahija family. ANJ invests independently, as well as with international partners. In its subsidiaries and associate companies, ANJ ensures that: • Their investments are in industries of which Indonesia has competitive advantages. • The companies are market leaders, or close to becoming leaders in terms of efficiency and financial performance. • The management is experienced, with appropriate skills. • The corporate governance is of the highest standard. • The business contributes to the social and economic development of the community in which it operates. As part of its corporate social responsibility program, ANJ works in partnership with the Tahija Foundation on a wide range of projects. ANJ Agri engages in the oil palm plantation business. By year-end 2009, its total planted area reached 32,000 ha. It has 5 subsidiaries, i.e.: Sahabat Mewah dan Makmur (SMM) in Belitung, ANJ Siais in North Sumatera, ANJ Agri Papua (ANJ Papua) in Papua, Kayung Agro Lestari (KAL) in West Kalimantan, and Austindo Aufwind New Energy (AANE). The company is an established Indonesian palm oil producer. Further, ANJ Agri aims to develop its food and renewable energy businesses in Indonesia.
Phillip Securities Indonesia
Report date Exchange Sector Industry Sub-industry IPO Price Percent of Enlarged Capital Shares Offered Underwriter
17-Apr-13 : : : : : : : :
Indonesia Consumer Agriculture Agricultural Operations
IDR 1,200 - 1,800 23.85% 940,000,000.00 PT Bahana Securities
Indicative Schedules Bookbuilding
:
Effective Letter Obtained
:
30-Apr-13
Offering Period
:
2 - 3 may 2013
Allotment
:
6-May-13
Listing
:
8-May-13
: : : : : :
44.80% 44.80% 5.20% 5.20% <0.1%
15-Apr-13
Initial Ownership Structure MDN (George Tahija and his Associates) AKJ (Sjakon Tahija and his Associates) George Tahija Sjakon Tahija Yayasan Tahija Pandristo Prasetyo Ginarto
[email protected] 62-21-57900900
Austindo Nusantara Jaya plans to offer 940 million shares, or about 24 percent of the company’s shares to investors. The company plans to cultivate 19,000 hectares of its land in the next three years. Austindo has a total of 96,773 hectares of land suitable for palm plantations in Sumatra and Kalimantan, with about 56 percent of the total area is not yet under cultivation. The company would also allocate about 8 percent of the targeted proceeds for its sago plantation and sago flour facility in Papua. Austindo plans to start producing sago flour by the end of this year. Renewable Energy Market Overview Rising coal and oil prices and the commitment to green technology are driving the Indonesian government’s national energy policy to increase the use of natural gas and renewable energy recourses. With 55% of new production being slated towards renewable power generation, total private sector investments by IPPs are expected to reach USD 11.11 billion by 2014. The government of Indonesia is committed to reducing greenhouse gas emissions by 26% by 2020. In addition the Clean Technology Fund (CTF) Investment Plan, Indonesia proposes co-financing of USD 400M to support the country’s goal of providing 17% of the total energy use from renewable energy by 2025.
Please see the back page for rating definition, analysts certification, and important disclosure. Phillip Securities Indonesia (PSI) may seek to do business with companies coverage in its reports. As a result investors, should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision
Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013 Indonesia Sago Industry The term “sago” is commonly and confusingly used to denote starch of various origins especially tapioca (starch from the root of cassava plant). Starch is a potential in nature which is available but not extracted. Meanwhile there is a large demand for food, for resources and industries, and there are new markets developing. It can close the cap and add something new. Indonesia’s 240 million people are avid rice eaters, each consuming an average 135 kg of rice per year. That compares with 60-75 kg per capita in other Asian nations like Thailand or Malaysia where rice is a staple food. But during the 66 years since Indonesia gained independence, the country has only been able to produce enough rice to meet its needs. To fill the gap, it usually imports rice from Vietnam and Thailand. That leaves the country vulnerable to international price hikes – which can stoke domestic inflation – and pushes the issue of food security in rice onto the political agenda for every presidential election. In 2011, Indonesia imported 1.9 million tons of rice from Thailand, Vietnam and India, to ensure it had plentiful stocks and to avoid food inflation. Indonesian agriculture experts have developed a new substitute for rice, which they say is similar in taste but less expensive than the cheapest rice. The Indonesian government predicted that Indonesia’s total rice production might stand at 38 million tons this year, while consumption would reach 34 million tons. This means that the country would be able to book 4 million tons in rice surplus. However, Indonesia would need at least 10 million tons of surpluses annually to secure the domestic stockpiling. In recent months, quite a few Indonesian ministers have tried to wean Indonesians away from eating rice. The attempt is intended to reduce the country’s dependency on rice imports, but critics say that reducing intake of rice is not only difficult but also contradictory to the country’s poverty-alleviating measures. Indonesia is the third largest rice producer of the world, producing over 37 million tons of rice. It is also one of the top importers, with around 3 million tons of rice imports to supplement the country’s annual rice requirement. Indonesia is trying to develop high yielding rice, but apparently, government ministers find that reducing consumption of rice is much easier than increasing yield or acreage. ANJ Agri Papua (ANJAP) is the pioneering company that systemically develops natural sago palm forests at West Papua into sustainably managed and high-yielding sago forests in an environmentally friendly manner. Basically, only mature sago palms are selectively harvested for processing. Harvested sago palm trunks are transported to a processing factory for starch extraction. A 100T/d sago starch mill is now under construction by ANJAP, with more mills of bigger capacities planned in the next few years. With an estimated starch yield of 6-10T ha-1yr-1, our production from the 40,000 ha mature sago forest will approximately produce 300,000 ton/year of dry sago by 2022.
Indonesia's Palm Oil Exports Rise Amid Volatile Path Towards Price Recovery Palm oil exports from Indonesia, the world’s largest producer, jumped to the highest level in at least five years in February after China and Pakistan boosted purchases to benefit from a slump in prices. Shipments, including palm and kernel oils, gained 9.1 percent to 2.04 million metric tons from 1.87 million tons in January, according to data from the Indonesian Palm Oil Association (“Gapki”). That’s the most in a month at least since 2008. China imposed more stringent rules on edible oil imports to improve food-safety standards with effect from January 1 and Indonesia’s exports to the Asian country fell 15 percent in January. Shipments jumped 108 percent to 370,110 tons in February and sales to Pakistan surged 80 percent to 149,850 tons, Gapki data showed. Exports to India, the world’s largest buyer, fell 13 percent to 699,770 tons and sales to European Union dropped 22 percent to 305,120 tons, the data showed. Indonesia's palm oil exports (palm oil and palm kernel) rose by 9.1 percent (month-on-month) to 2.04 million metric tons in February, according to data from the Indonesian Palm Oil Association (Gapki). This level - the highest in about five years - was brought on due to increased purchases from 2 of 9
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013 China and Pakistan. Indonesia's palm oil industry may experience a better year in 2013 as exports in the first two months of 2013 rose 29 percent from last year. Palm oil is one of the most produced and consumed oils in the world. Indonesia and Malaysia, that together account for 85 to 90 percent of total global palm oil production, dominate this industry. Indonesia is currently the largest producer and exporter of palm oil. Few Indonesian industries have shown such robust growth as the palm oil industry during the last 15 years. This growth is visible in the country's production and export numbers as well as in the quantity of its palm oil estate area. Driven by increased global demand and higher yields, palm oil cultivation has been expanded significantly by Indonesian farmers and conglomerates (at the expense of the environment and production numbers of other agricultural products as farmers switch to palm oil plantation). Palm oil exports from Indonesia, the world’s largest producer, jumped to the highest level in at least five years in February after China and Pakistan boosted purchases to benefit from a slump in prices. Rising exports may help trim Indonesian stockpiles and halt a 34 percent decline in prices in Kuala Lumpur in the past year. Indonesia’s inventories of the tropical oil used in everything from noodles to biofuels dropped 14 percent to 3 million tons in February from a month earlier Key factors impacting the company: • Prices of palm oil products are affected by international prices: Supply and demand for palm oil, which influences the level of production by global weather, consumption and world supply, import export rates, global environmental regulation, economic development and population growth will also influence the price of the company’s palm oil products. • Government policies and regulations which have a negative impact for palm oil industry. • Export tax for crude palm oil or it’s regulations, as well as tariffs and import taxes and other restrictions. • International regulations concerning the CPO could adversely affect the industry. • Competition faced by the palm oil industry (CPO) as a type of vegetable oil substitution. • Stringent environmental regulations • Risks associated with the expansion of oil palm plantations: Such as increased costs, logistical difficulties, supply and competition for oil seed purchases. On the other hand, the company may have to pay workers wages far above the estimate of liability and other issues. • Corporate profits can be affected by the price of raw materials and fuel: Fertilizer costs represent 15.4% of the cost of goods sold (COGS) for the company in 2011 and 20.5% in 2012, while fuel represented 3.4% of the cost of goods sold. Fuel prices fluctuate based on events beyond the control of the company, including geopolitics developments, supply and demand for oil and gas, actions by the Oil and Petroleum Exporting Countries (OPEC), and other oil and gas producers in the oil-producing countries. • Can be affected by fluctuations in foreign currency exchange rates: The financial reporting currency is US Dollar, and almost all of the company’s sales is in USD. This enables the company to partially hedge against exchange rate fluctuation, but also can affect the company operations results in terms of spending and net income.
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013 AUSTINDO NUSANTARA JAYA AND SUBSIDIARIES ASSETS (USD)
2012
CURRENT ASSETS Cash and cash equivalents
2011
76,598,758.00
Restricted cash in banks
-
Time deposit
1,500,000.00
Investment in trading securities at fair value
4,846,197.00
Finance lease receivable - net of allowance
-
2010
90,912,822.00 110,469,605.00
2009
132,294,121.00 293,576.00 -
119,432,789.00 801,086.00 10,000,000.00
57,752,179.00
45,269,108.00
-
25,262,564.00
17,355,674.00
-
58,249,135.00
52,355,983.00
4,883,114.00
4,348,070.00
15,076,421.00
10,526,767.00
Other financing services receivable - net of allowance for doubtful accounts of Trade accounts receivable net of allowance for doubtful accounts
1,433,658.00
1,212,718.00
Insurance services receivable net of allowance for doubtful accounts
-
Other receivables - net of allowance Inventories - net of allowance for decline in value
2,001,531.00
2,966,584.00
1,772,124.00
16,067,141.00
14,261,416.00
11,171,942.00
9,301,766.00
4,132,480.00
8,974,646.00
9,015,622.00
Prepayments and advances
6,582,339.00
Assets held for sale Total Current Assets
-
2,251,012.00
109,318,686.00
424,441,452.00 647,432,024.00
-
-
316,924,282.00
280,178,989.00
-
23,654,324.00
11,126,840.00
-
63,254,116.00
14,899,009.00
-
803,924.00
372,340.00
NONCURRENT ASSETS Financing lease receivable - net of current maturities
6,304,605.00
Other financing services receivable - net of current maturities
-
Time deposits
687,959.00
Investment in associates
16,828,699.00
13,714,866.00
10,374,087.00
6,824,543.00
Other investments
23,978,281.00
24,634,996.00
30,789,066.00
18,657,200.00
6,897,944.00
6,897,944.00
6,897,944.00
6,267,430.00
5,634,429.00
5,288,317.00
4,571,120.00
140,964,645.00
133,072,455.00
129,511,903.00
130,860,556.00
71,677,985.00
136,858,892.00
104,044,529.00
864,624.00
1,135,492.00
994,429.00
989,062.00
2,065,040.00
1,906,556.00
88,917.00
2,387,142.00 8,951,402.00
Investment in properties
-
Deferred tax assets Palm plantations - net of accumulated Property, plant and equipment - net of
-
Deferred charges for landrights - net of Advance for purchase of machinery Fixed Asset
77,865,835.00
Goodwill
4,967,579.00
4,967,579.00
7,492,948.00
Claims for tax refund
1,429,627.00
1,591,644.00
1,723,887.00
64,738.00
Other assets
7,824,878.00
3,766,485.00
3,759,129.00
2,340,075.00
Total Noncurrent Assets
290,049,202.00
269,000,431.00
421,491,883.00
312,986,500.00
TOTAL ASSETS
399,367,888.00
916,432,455.00
738,416,165.00
593,165,489.00
Source : Company & PSI
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013
LIABILITIES AND EQUITY CURRENT LIABILITIES
2012
2011
Short-term bank loans
1,500,000.00
Trade accounts payable
4,579,888.00
Insurance services payable Taxes payable
3,404,663.00
-
Advance from sale of investment in a subsidiary
26,534,378.00
Derivative liabilities
2010
-
10,041,028.00
-
-
-
7,537,225.00
2,543,818.00
19,298,473.00
15,375,314.00
11,007,155.00 6,727,227.00
2009
8,766,127.00
5,989,813.00
932,567.00
282,975.00
10,798,909.00
7,129,205.00
Other payables
9,645,513.00
8,418,405.00
Accrued expenses
9,507,433.00
8,042,207.00
8,544,384.00
5,101,111.00
Current maturities of bank loans
2,341,039.00
2,254,809.00
68,673,713.00
40,235,546.00
Current maturities of lease liabilities
1,772,756.00
503,003.00
1,086,492.00
Liabilities directly associated with assets held for sale Total Current Liabilities
-
55,881,007.00
354,828,193.00 394,682,659.00
-
-
135,095,429.00
77,744,274.00
NONCURRENT LIABILITIES Bank loans - net of current maturities
-
114,482,826.00
72,925,398.00
721,487.00
-
-
439,520.00
725,150.00
2,010,173.00
-
2,805,791.00
3,742,053.00
-
12,494,338.00
Lease liabilities - net of current maturities Deferred revenue Convertible bonds
-
Provision for value increase sharing plan
-
1,900,000.00
4,111,564.00
4,540,000.00
Deferred tax liabilities
2,967,032.00
8,683,766.00
3,067,415.00
1,818,544.00
Employee benefit obligation
9,112,277.00
9,333,600.00
9,452,076.00
5,688,664.00
Share based compensation Total Noncurrent Liabilities
15,817,750.00
MINORITY INTERESTS
19,917,366.00
-
2,122,856.00
3,703,026.00
148,976,386.00
93,142,835.00
-
-
11,612,926.00
Source : Company & PSI EQUITY Capital stock
2012
2011
2010
2009
43,158,940.00
15,084,048.00
15,084,048.00
15,084,048.00
of subsidiaries and associates
13,004,333.00
32,386,326.00
31,427,734.00
31,346,208.00
Unrealized gain on available-for-sale investments
30,607,591.00
2,484,648.00
7,596,651.00
(663,289.00)
2,853,996.00
1,235,948.00
6,259,518.00
675,566.00
675,566.00
675,566.00
675,566.00
240,178,830.00
442,237,532.00
391,153,511.00
369,819,150.00
326,961,971.00
490,014,124.00
444,701,562.00
-
707,160.00
11,818,306.00
9,642,788.00
-
Total Equity
327,669,131.00
501,832,430.00
454,344,350.00
410,665,454.00
TOTAL LIABILITIES AND EQUITY Source : Company & PSI
399,367,888.00
916,432,455.00
738,416,165.00
593,165,489.00
Differences in value due to changes in equity
Cumulative translation adjustments
-
Retained earnings -Appropriated -Unappropriated Equity attributable to the owners of -The Company -Non-controlling interests
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013
INCOME Revenue from sales Revenue from concession services
2012 159,880,575.00 5,979,192.00
2011
2010
164,197,438.00 -
2009
126,242,037.00 -
100,826,890.00 -
Revenue from healthcare services
-
-
9,171,925.00
6,845,669.00
Revenue from vehicle rental
-
-
29,884,906.00
19,518,575.00
Revenue from financing services
-
-
25,511,662.00
17,298,148.00 1,638,124.00
Share in net income of associates
3,861,440.00
4,684,380.00
3,199,233.00
Dividend income
7,924,909.00
9,974,132.00
5,913,399.00
1,887,746.00
4,480,394.00
3,106,467.00
1,702,945.00
2,667,863.00
0.00
Insurance underwriting income
-
Interest income
1,990,658.00
Foreign exchange gain - net
2,009,636.00
-
-
34,174,845.00
-
-
Unrealized gain on marketable securities Other income Total Income
-
1,105,177.00
1,969,200.00 416,668.00
5,475,116.00
7,927,970.00
5,639,038.00
185,064,255.00
185,436,243.00
214,034,471.00
161,814,388.00
85,736,972.00
82,457,202.00
64,425,178.00
46,905,621.00
EXPENSES Cost of sales Cost from concession services
2,494,800.00
Cost of healthcare services
-
Cost of vehicle rental
-
Provision for value increase sharing plan
-
Provision for incentive programs
-
Unrealized loss from investment in trading
-
securities
-
-
-
3,589,429.00
3,061,334.00
-
18,998,100.00
12,730,000.00
1,955,897.00
2,571,564.00
-
‐
60,765.00
180,514.00
2,248,691.00
2,453,513.00
2,151,645.00
1,363,800.00
247,418.00
80,250.00
15,380,858.00
9,276,605.00
Personnel expenses
20,104,253.00
13,424,455.00
29,608,041.00
14,524,948.00
General and administrative expenses
14,878,463.00
9,890,643.00
22,916,567.00
21,574,954.00
1,582,377.00
5,687,751.00
Selling expenses
-
-
Interest expenses
Loss on derivative instrument
-
Foreign exchange loss
-
315,557.00
65,243.00
-
Other expenses
91,022.00
1,782,110.00
539,563.00
472,077.00
Total Expenses
125,801,619.00
112,420,392.00
162,009,079.00
115,597,090.00
INCOME BEFORE TAX
59,262,636.00
73,015,851.00
52,025,392.00
46,217,298.00
(17,305,555.00)
(26,808,306.00)
(19,056,270.00)
(19,176,256.00)
41,957,081.00
46,207,545.00
32,969,122.00
27,041,042.00
Net income from discontinued operations
56,703,023.00
10,572,117.00
-
-
NET INCOME FOR THE YEAR
98,660,104.00
56,779,662.00
-
-
‐
-
-
-
TAX EXPENSE NET INCOME FOR THE YEAR FROM CONTINUING OPERATION DISCONTINUED OPERATION
OTHER COMPREHENSIVE INCOME Continued operation Change in fair value of available-for-
371,463.00
sale investments Actuarial Lost
-
‐ (6,358,253.00)
(604,572.00)
Foreign exchange differentials from translation of subsidiaries' and associates' financial statements
(4,879,885.00)
Deferred tax income (expenses)
94,689.00
(1,655,127.00) 1,246,250.00
(1,153,584.00)
(1,080,048.00)
Discontinued operation Foreign Exchange discrepancy
1,997,539.00
Hedging reserve
-
407,951.00
-
-
Deferred tax expenses
-
(101,988.00)
-
-
Total other comprehensive income - net of tax
(3,020,766.00)
(6,461,167.00)
-
-
TOTAL COMPREHENSIVE INCOME
95,639,338.00
50,318,495.00
-
-
Owners of the Company
96,299,136.00
56,084,021.00
Non-controlling interests
2,360,968.00
695,641.00
-
-
98,660,104.00
56,779,662.00
-
-
Owners of the Company
93,300,358.00
49,643,203.00
-
-
Non-controlling interests
2,338,980.00
675,292.00
-
-
95,639,338.00
50,318,495.00
-
-
NET INCOME ATRIBUTABLE TO :
NET INCOME FOR THE YEARS
31,815,538.00
25,960,994.00
COMPREHENSIVE INCOME ATTRIBUTABLE TO
TOTAL COMPREHENSIVE INCOME
Source : Company & PSI
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013
Company Financial Overview
Vegetable Oil Consumption and GDP Per Capita 32,700.00 60
46,333.00
50 40
3,586.00
30
60,100.00
47,084.00
50,100.00 40,100.00
4,429.00
30,100.00
7,536.00
20,100.00 45.3
China
Indonesia
Hong Kong
62
27.4
India
49
24.4
10
14.6
20
USA
Europe
10,100.00 100.00
0
The company reported its net profits increased by 71.71% from USD 56,084,021 in 2011 to 96,299,136 in 2012. Compared with other palm oil companies, Austindo has better financial result amidst current uncertainties in CPO market. BW Plantation (BWPT) net income decreased by 18% from IDR 320.3882 billion in 2011 to IDR 262.1838 billion in 2012, PP London Sumatera Indonesia (LSIP) net income shrank by 34%. LSIP net income in 2011 amounted to IDR 1,701 trillion, and fell to IDR 1,116 billion in 2012. Sampoerna Agro (SGRO) net income decreased by 39%, from IDR 540 943 billion in 2011 to IDR 329 201 billion in 2012.
A close competitor of Austindo that can compete in uncertain CPO market is Astra Agro Lestari (AALI) with reported increase in net profit of 0.20%, from IDR 2.405 trillion in 2011 to IDR 2.410 trillion in 2012. Such close competition influenced Austindo to diversify its business; the company is currently developing sago plantation and power generation. Austindo is building the first sago starch processing plant in Papua. The processing plant, which is expected to commence operation in the second half this year, will be used to process the harvest from 40,000 hectares of sago located in Papua. 96%, or USD 154,585,696, of the company’s total revenue in 2012 came from the sale of palm oil. Tobacco generated 4%, or USD 5,294,880 of the total revenue. Until 2012, the company sold 177.125 tons of CPO, with a value of sales of 89.5% of the total production of 178.263 tons. ANJ has one of most efficient cost structure in the sector, with cost per ton of USD 376, 15% lower than the average in the sector. Most plantation companies would likely experience negative earnings growth in 2013, due to 5% lower average CPO selling price. With limited world oil palm land expansion, CPO production growth seems will be much lower than long term growth, resulting in improved CPO price outlook in the next few years.
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013
Research Team | Telp: +62-21-57900800 | E-mail:
[email protected] Aditya Perdana Putra (AP) Gunawan Sutanto (GS) Hega Kharisma Wahyudi (HK) Pandristo Prasetyo Ginarto (PP)
Rating for Sectors: Overweight : Expect the industry to perform better than the primary market index (JCI) over the next 12 months. Neutral : Expect the industry to perform in line with the primary market index (JCI) over the next 12 months. Underweight : Expect the industry to under perform the primary market index (JCI) over the next 12 months.
Rating for Stocks: Buy : The stock is expected to give total return (price appreciation + dividend yield) of above 15% over the next 12 months. Hold : The stock is expected to give total return of between -15% and 15% over the next 12 months. Sell : The stock is expected to give total return of -15% or lower over the next 12 months. Outperform: The stock is expected to do slightly better than the market return. Equal to “accumulate” or “moderate buy” Underperform: The stock is expected to do slightly worse than the market return. Equal to “weak hold” or “moderate sell”
Analyst Certification The research analyst(s) primarily responsible for the preparation of this research report hereby certify that all of the views expressed in this research report accurately reflect their personal views about any and all of the subject securities or issuers. The research analyst(s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report.
Disclaimers This document has been prepared for general circulation based on information obtained from sources believed to be reliable but we do not make any representations as to its accuracy or completeness. Phillip Securities Indonesia (PSI) access no liability whatsoever for any direct or consequential loss arising from any use of this document or any solicitations of an offer to buy or sell any securities. PSI and its directors, officials and/or employees may have positions in, and may affect transactions in securities mentioned herein from time to time in the open market or otherwise, and may receive brokerage fees or act as principal or agent in dealing PP with respect to these companies. PSI may also seek investment banking business with companies covered in its research reports. As a result investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.
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Austindo Nusantara Jaya Tbk Indonesia Equities Research April 17, 2013
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FORMULIR APLIKASI IPO SAHAM PT. AUSTINDO NUSANTARA JAYA (ANJ) TBK.
▪
Nama Saham / Emiten
:
▪
Tanggal Penawaran Umum
: 26 April
▪
Harga Penawaran
: Rp.1.200,- per saham
s/d
1 Mei 2013 (pkl. 12.00 WIB)
A. Persyaratan Aplikasi IPO Saham : (Mohon persyaratan ini dibaca, difahami dan dilaksanakan)) 1.
Nasabah melakukan pembayaran pemesanan saham secara penuh yaitu senilai jumlah saham yang dipesan dikalikan dengan harga per saham (Rp.1.200,-). Pembayaran tersebut harus dilakukan selambat-lambatnya tanggal 1 Mei 2013 pukul 12.00 Wib (in good funds) dengan menyetor langsung ke Rekening Dana Investor (RDI) milik masing-masing Nasabah.
2. 3.
4. 5.
4.
5. 6. 7. 8.
Nasabah mengisi Formulir Aplikasi IPO Saham pada huruf B dibawah ini dengan lengkap, jelas dan benar dan menanda-tanganinya. Formulir Aplikasi IPO Saham yang sudah ditanda-tangani berikut foto copy KTP atau SIM atau Paspor (untuk orang asing) yang masih berlaku, diserahkan kepada Kantor Cabang (bagi Nasabah dari Kantor Cabang) atau kepada Sales ( bagi Nasabah yang menggunakan jasa Sales) atau langsung kepada PT. Phillip Securities Indonesia Kantor Pusat u.p Divisi Corporate Finance melalui Fax No. 0 2 1 - 5 7 9 0 0 8 0 9 atau melalui email
[email protected] (bagi Nasabah Kantor Pusat). Kantor Cabang dan Sales wajib membuat Rekapitulasi Pesanan Nasabah yang memuat : i). Nama Nasabah, ii). Kode Nasabah, iii). Jumlah Pesanan dalam lembar saham dan lot, iv). Nilai pesanan dalam Rupiah dan v). Keterangan tentang pembayaran. Rekapitulasi Pesanan Nasabah berikut foto copy KTP atau SIM Nasabah, diserahkan / dikirimkan kepada PT. Phillip Securities Indonesia Kantor Pusat (u.p Divisi Corporate Finance melalui Fax No. 0 2 1 - 5 7 9 0 0 8 0 9 atau melalui email
[email protected] dengan tembusan kepada
[email protected], selambat-lambatnya tanggal 1 Mei 2013 pukul 12.00 Wib. Dalam hal Formulir Pemesanan Pembelian Saham (FPPS) Asli yang diperoleh dari Lead Underwriter / Biro Administrasi Efek (BAE) jumlahnya terbatas, maka pelayanan kepada Nasabah akan dilaksanakan berdasarkan urutan waktu masuknya pesanan kepada Divisi Corporate Finance (first come first served). Formulir Aplikasi IPO Saham yang telah ditanda-tangani tidak dapat dibatalkan namun bukan berarti bahwa pesanan Nasabah akan dipenuhi semua, karena penjatahan merupakan keputusan dan wewenang mutlak dari Penjamin Pelaksana Emisi (Lead Underwriter). Untuk informasi hasil Penjatahan, silahkan menghubungi Divisi Corporate Finance melalui telepon No. 0 2 1 – 5 7 9 0 0 8 0 0 Pengembalian uang pemesanan (refund) dilaksanakan paling lambat 2 (dua) hari kerja setelah refund diterima in good funds dari Lead Underwriter. Refund tersebut akan ditransfer ke Rekening Dana Investor (RDI) milik masing-masing Nasabah. PT. Phillip Securities Indonesia tidak bertanggung-jawab dan tidak akan menindak-lanjuti pesanan Nasabah apabila tidak memenuhi persyaratan di atas, antara lain Dana Pembayaran di dalam Rekening Dana Investor (RDI) milik Nasabah tidak tersedia atau tidak mencukupi, data / informasi / Rekapitulasi Pesanan Nasabah / Foto copy KTP atau SIM Nasabah yang disampaikan tidak benar (salah) dan atau tidak jelas / tidak terbaca.
B. Formulir Aplikasi IPO Saham (Mohon agar diisi dengan lengkap dan jelas) ▪
Nama & Kode Nasabah
:
▪
No. KTP. / SIM
:
▪
Alamat sesuai KTP. /
:
Kode :
SIM / Paspor ▪
No. Telp./HP/Fax
:
▪
Alamat email
:
▪
Jumlah Pesanan
:
▪
Total Nilai Pemesanan
: Rp.
lembar
(
lot)
Tempat dan Tanggal : ....….…………,………….., …… Kantor Cabang / Sales :
Nasabah :
(…………………………………….)
(…………………………………….)
Nama & Tanda-tangan
Nama & Tanda-tangan
