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What rout? Two newcomers defy gloomy market opening

first_img“Yesterday [Thursday], I predicted that as we are listed, [trading at the bourse] would be halted,” Adi told reporters during the initial listing ceremony at the IDX in Jakarta. He added that the company decided to go on with its listing as “we are confident about our company’s fundamentals”, though he conceded that market confidence was low right now. During the companies’ IPO, which took place earlier this month, Metro Healthcare and Makmur Berkah raised Rp 1.1 trillion (US$75.38 million) and Rp 64.35 billion, respectively. Read also: Indosat to spend another Rp 9.5 trillion this year to expand 4G networkMetro Healthcare plans to allocate 60 percent of its IPO funds to land acquisitions, 30 percent to building a hospital in Majalaya district in Bandung, West Java, and 10 percent to its subsidiaries for their working capital. “We hope the [Majalaya] hospital can be fully operational in the second half of next year. [We] will need around one year to build the hospital,” Metro Healthcare president director Henry Kembaren said on Friday, adding that the company currently operated seven hospitals.Meanwhile, Makmur Berkah, which mostly works in developing industrial areas and building storage complexes, will allocate 60 percent of its proceeds for land acquisitions, 30 percent for working capital and 10 percent will be channeled through its subsidiary.“We will acquire land in Sidoarjo, East Java. From the point of view of logistics storage, it’s a good location because it’s right in the middle [of the province]. [Goods can be delivered] to Tanjung Perak, Bali and surrounding areas,” Adi said, explaining how the acquisition would help expand the company’s business operations.  Read also: Stock falls capped at 7%, no pre-opening trade as IDX prevents steep drops amid global market routMetro Healthcare and Makmur Berkah became the 17th and 18th companies, respectively, listed on the stock market this year. Last year, the IDX only saw 55 new listings, down from the 57 in the previous year.After trading resumed, the two companies’ stocks remained in the green zone. Metro Healthcare closed Friday’s trade at Rp 139 per share, a nearly 35 percent increase, and Makmur Berkah concluded at Rp 148 per share, also close to a 35 percent rise. (ydp) PT Makmur Berkah’s shares, listed under the code AMAN, rose by 34.55 percent to Rp 148 per share from its IPO price of Rp 110 per share. Read also: Indonesian stocks close higher after dramatic morning plungeDespite the relatively warm welcome from investors — considering that the bourse has entered bear market territory defined as experiencing a 20 percent drop from a recent high — as trading of all shares on the IDX was suspended for 30 minutes following a new trading halt regulation put in place on Wednesday. This came to no surprise for Makmur Berkah president director Adi Saputra Tedja as the global market saw a historic rout on Thursday with circuit breakers triggered in several countries around the world and some markets plunging at levels unseen since the 1980s. Healthcare provider PT Metro Healthcare Indonesia and property developer PT Makmur Berkah Amanda Tbk defied steep losses in the broader market when their shares were listed for the first time on the local stock exchange on Friday.As trading was halted at 9:15 a.m. following a 5 percent plunge in the main index, the Jakarta Composite Index (JCI), the two companies saw their initial shares listing defying the broader market and receiving a warm welcome.Share prices of PT Metro Healthcare, traded on the Indonesia Stock Exchange (IDX) under the code CARE, climbed 6.8 percent to Rp 110 per share, from Rp 103 per share during its initial public offering (IPO) and just a few minutes after trading started. center_img Topics :last_img read more

Sales numbers may have slowed, but there is still property price growth in the regions

first_imgProperty prices on the Sunshine Coast, where this home at 7 Longcove Place, Peregian Springs is for sale, are on the increase. Picture: realestate.com.auPROPERTY sales numbers have dropped off in the past year with a new report revealing a slow down in four of the five major regions.The latest CoreLogic quarterly regional market update for September found that dwelling sales fell in four of the five regions in the year to August 2017 with the Gold Coast experiencing the biggest drop – down by 8.7 per cent.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by Transactions numbers were also down in Townsville, – 6.3 per cent, Cairns, – 5.3 per cent and the Sunshine Coast – 2.6 per cent.Sales numbers remained stable in the Wide Bay region.While sales numbers may have dropped some regions still recorded significant increases in values. The Sunshine Coast was the best performer with values for houses up 7.1 per cent and unit values up 5.3 per cent.Gold Coast house and unit values both increased by 6.9 per cent and in the Wide Bay house values went up 1.1 per cent and units were up 0.1 per cent.Cairns only had small increases in values, houses were up 0.2 per cent and units were up 0.4 per cent, while Townsville was the only region in which values fell for both houses, down 2.8 per cent, and units, down 0.6 per cent, in the year.Download the report HERElast_img read more

Bosnian watched Football Match at Goodison Park at the invitation of Everton

first_imgYoung BH citizen, Aldin Karabeg, managed to realize his dream and attend one match of the English Premier League after three months.This young man in July sent inquires to up to 92 clubs in England, with a simple question: “Why would I cheer for you?”Wanting to choose a club from Premier League, for which he would cheer in the future, Karabeg received answers to his letters and read answers from some of the world’s biggest clubs, such as Manchester United, Chelsea or Arsenal.Despite the fact that all the answers were really good, Aldin decided to choose Everton which, according to him, offered the best answer. Of course, the message from Muhamed Besic, BH football player that he sent to Aldin, contributed to all of this.However, that was not it for Aldin, who quickly attracted attention of English media, who followed his unusual little action. After he announced his decision, soon came the offer to turn his interesting story into a movie, which is why Aldin had the opportunity to fulfill his dream and attend the match Everton – Crystal Palace, which was played at the stadium Goodison Park.On that occasion, Aldin said to the media that he is really delighted with the atmosphere in the stadium and fan songs, and he cannot wait for the match to begin.“There is 40,000 people on the stands, and it’s roughly the population of the city where I live. It’s amazing to see all these people in one place and I think this is a dream come true,” said Karabeg from Goodison Park.(Source: Radiosarajevo.ba)last_img read more