Blogs

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

Joshua spars with two fighters for rematch

first_imgRelatedPostsNo Content Available Anthony Joshua is sparring with two fighters in his training camp to replicate the strengths of Andy Ruiz Jr ahead of the rematch.Anthony Joshua lost his IBF, WBO and WBA world heavyweight titles to Andy Ruiz Jr in New York in June and the British boxer is now preparing to take on the Mexican-American in a rematch on December 7.Ruiz produced one of the biggest shocks in the history of heavyweight boxing when he knocked down Joshua four times during the fight, before stopping the Brit in the seventh round.The Mexican-American’s speed and punch volume overwhelmed Joshua and as part of his preparations for the rematch, the Brit has brought in two fighters to replicate the strengths of Ruiz during his training sessions.As reported by talkSPORT, Joshua has recruited the help of Timothy Moten.The American is currently undefeated with two KOs from his five wins.And Joshua’s camp hopes he will benefit from sparring with the short and stocky boxing style the American has.They have also brought in Albon Pervizaj, who they hope can replicate the devastating hand speed Ruiz displayed at Madison Square Gardens.Pervizaj, who is 12-0, with nine KOs, is a young German heavyweight and Joshua hopes he can use the sparring with the two fighters to help him create a better plan come fight night.Joshua is now undertaking a 12-week long training camp to focus on preparing himself for the career-defining bout against Ruiz.The rematch will take place in Saudi Arabia in December in a purpose-built venue.The Diriyah Arena, which will be a three-sided venue, is expected to have a capacity of 15,000.And Joshua has admitted he will also be changing his approach for the fight and will no longer be trying to stay relaxed before a bout.“I need to start taking this approach to my fights where I’m a bit more lively,” said Joshua. “I know I’m capable of it.“There is too much at stake. If I go in there where I’m switched on, a time like the Ruiz fight where I am so relaxed, that might be the difference.”While Ruiz has declared he will be going into the clash looking to end Joshua’s career.“I took it to AJ in the Big Apple,” said Ruiz. “And I’m looking forward to ending his career in the desert.” Tags: Timothy Motenlast_img read more

Joc Pederson doesn’t want to be left out by Dodgers

first_imgDodgers manager Dave Roberts platooned Pederson with right-handed Trayce Thompson during the first half of last season and limited Pederson’s playing time against left-handed pitching (he had just 77 plate appearances against lefties all season). This spring, Roberts has said Pederson will get more at-bats against lefties in 2017 based on the desire to keep his glove in center field and faith that Pederson will improve against left-handers.“Both,” Roberts said. “Obviously, we like his glove out there in center field and his ability to slug.”Pederson finished second among last year’s Dodgers (to Corey Seager) in slugging percentage (.512), OPS (.847) and OPS-plus (129). None of that damage was done against left-handed pitching, however. Pederson was 8 for 64 (.125) with 22 strikeouts and hit just one of his 25 home runs against left-handers.Pederson asserts he doesn’t have a problem with left-handers despite a .178 average in two big-league seasons against them – “I mean, I hit .300 off them my last year in Triple-A,” he said. Instead, his offseason focus was on making some adjustments heading into his third season that will give him a more mechanically sound swing regardless of what kind of pitching he is facing.“I think if your body is not in a good position, you’re not going to hit. With any approach you have,” Pederson said. “So I needed to make some mechanical changes to get myself into a better hitting position. And when you have that in order, you can move on to your approach and focus on how pitchers are attacking you. “These pitchers are good and they know how to throw it to certain locations and if you’re not able to hit those locations, you’re an out. So you’ve got to mechanically get in a good spot.”Roberts sees a more consistent “path to the ball” from Pederson this spring and “more consistency with his approach.” Pederson homered to lead off the game against the Milwaukee Brewers on Wednesday, his third home run in the Cactus League (no other Dodger has more than one).“With Joc, even if you go back to last spring, there was a lot of tinkering and really trying to figure out what works best for him,” Roberts said. “The second after the season ended, he made an adjustment with his swing. There’s a little step-back thing going and it gets him in a good position to fire. I think from that point on he kind of found a baseline for his swing mechanically. Then outside of that an approach piece, a plan piece.“Every hitter is different. The important thing is when he gets to that point to where he’s ready to fire on the baseball, his hands are in a consistent position. That’s where he’s at right now.”TV guideThe Dodgers, Spectrum Networks and KTLA reached agreement to simulcast SportsNet LA’s broadcast of 10 early-season games on the Los Angeles station, making them available to a wider audience as the Dodgers’ distribution stalemate enters a fourth season.The 10 games made available are April 5 (vs. the Padres), April 9 (at Colorado), April 12 (at Wrigley Field), April 16 (vs. the Diamondbacks), April 18 and 19 (vs. the Rockies), April 23 (at Arizona), April 30 (vs. the Phillies), May 3 (vs. the Giants) and May 7 (at San Diego).Return dateRoberts said Corey Seager (back), Andre Ethier (back) and Andrew Toles (hyperextended right knee) are expected to play again Saturday after sitting out most of this week with minor injuries. In Seager’s case, he has played just three games with six plate appearances this spring.“For us, it’s fine,” Roberts said. “Spring training is long as it is, especially on the position players’ side. … Obviously we expect him to play a lot this season. So for him to essentially get a week to be down is not the worst thing.”Last spring, Seager was missed the final 19 days of the Cactus League schedule, played in the Freeway Series — and then led the Dodgers in games played (157) and plate appearances (687) in the regular season. GLENDALE, Ariz. >> Brian Urlacher might be coming out of retirement again.Late last season, Dodgers center fielder Joc Pederson took to wearing a face guard on his helmet for at-bats against left-handed pitchers. Pederson joked that the face guard made him feel like the retired Chicago Bears linebacker.It did more than that. It gave Pederson a visual cue to “keep my front shoulder in longer and be able to use the whole field” against lefties. Pederson said he has ordered another face guard from the equipment manufacturer and might wear it again this season.If so, that face guard could get more exposure.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more