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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

Syntrus Achmea wins Shell pension fund administration contract

first_imgLast week, Tom van der Spek, director of old-age provision at Syntrus, said the company would now focus on corporate and occupational pension funds, as well as on the new general pension fund (APF) of insurer Centraal Beheer, which is part of Achmea Group.Shell and Syntrus have been co-operating since 1 July 2013, when the oil company closed its defined benefit scheme SSPF to new entrants, who had to start saving in a new defined contribution scheme, SNPS.Since then, Syntrus has managed pensions administration for SNPS, while SSPF kept its own pensions bureau SPN as its provider.Janwillem Bouma, director of both schemes, said Syntrus would also deliver bespoke pension management for SSPF’s participants against low costs.He added that pensions communication “had to comply with the most recent digital standards”.Van der Spek said Shell’s choice had reinforced Syntrus’s position as a “market leader for company pension funds”.In other news, Hibin, the €761m sector scheme for the building materials industry, which is to leave Syntrus, has said it will start carrying out its pensions administration in-house.According to Gijs Alferink, the scheme’s chairman, the new arrangement will allow Hibin to save €400,000 in costs and VAT annually.He said the decision to leave Syntrus had been taken last summer due to a desire to cut costs, as well as growing dissatisfaction with the service provided. Hibin has 13,200 participants and pensioners affiliated with 850 employers. Shell’s closed €26bn pension fund in the Netherlands (SSPF) is to outsource pensions administration for its 40,000 participants to Syntrus Achmea Pensioenbeheer.The new contract, effective from 1 January 2018, will also include all communication with participants.The announcement comes soon after Syntrus disclosed that it would stop providing services to industry-wide pension funds, as its new IT system struggled to cope with their disparate arrangements.At present, industry-wide schemes account for about two-thirds of Syntrus’s business.last_img read more

Walters preparing to knock Lomachenko out

first_imgNICHOLAS, ‘The Axeman’ Walters, intends to make a spectacular return to the ring when he faces WBO World super featherweight champion Vasyl Lomachenko in Las Vegas on November 26.The 30-year-old former WBA featherweight champion, who fought to a controversial draw against Jason Sosa on December 19, 2015, intends to put that blemish on his unbeaten career behind him when he fights the Ukranian for all the marbles.“I’m going to knock him out,” said Walters, who started training for the fight in September at the Pedro ‘El Rockero’ Alcázar de Curundú Gym in Panama.“I’m training for that. Just like I did to Nonito (Donaire), that’s how I’m going to defeat him.”Walters, who can count the likes of former champions Donaire and Vic Darchinyan among his 11 knockout victims in his last 12 fights, believes he can do the same to the much-heralded Lomachenko who has lost once in his seven professional fights.”Any fighter can be knocked out, no matter who he is,” said Walters.“I like fighting the best and I like fighting against great technical fighters like Lomachenko. (He) is great, he knows what he is doing in the ring. But I always look for a knockout against whomever I fight. If I can do it quick, I will.”Lomachenko enhanced his fledgling, but already impressive reputation in June when he logged a sensational knockout over WBO World super featherweight title-holder, Roman Martinez. (Sportsmax.com)last_img read more

In politics and sports people want relatability and authenticity Blue team out

first_imgDonald Trump was elected President last night, and Colin says it all boils down to authenticity and relatability to regular Americans, and distrust of the media and political class. Last night was a loud rejection of the out of touch. Blue team out, red team in. Let’s work together.“The blue team’s out, the red team’s in, because they were more relatable in the suburbs and rural America. Is Trump a concern? I think our republic is built to withstand Trump. What our republic is not built to withstand is a media that the American citizens don’t trust. And oh, boy, you do not. That was middle finger to the American media. To the American establishment. To the political system.”Michael Jordan may be considered the best basketball player ever, but Colin thinks LeBron is the most complete player ever. He scores, passes, rebounds, unites teammates, and there has never been another player with his skill set. Including MJ.“Most of you will not consider him the best player, but he’s easily the most complete.”The latest College Football Playoff rankings were released last night, and Colin thinks the rankings are far too driven by agendas and biases. Vegas also releases its own rankings, which are based on unbiased analysis, not alliances and politics. The best example of the discrepancy in the rankings is LSU, which is ranked 24th in the CFP poll and 9th in the Vegas poll. LSU has close losses to Auburn, Wisconsin and Alabama, and can play with anyone. Colin trusts Vegas, not the committee.“Be authentic. Be authentic. Be trustable. Committee out, Vegas in.”Guests:Eric Mangini – Former NFL head coach joins the show to discuss his time with Jim Harbaugh, why his enthusiasm is absolutely sincere, why playing Jared Goff if he hasn’t earned it could create a locker room rift, and why NFL teams should vote “yes” on Proposition F, and use the fade pattern.Joel Klatt – FS1 College Football Analyst is in-studio to defend Washington being ranked #4 in the latest CFP poll, why the playoff committee is a sham, why winning should matter in the process, and his Almost Upset Pick of the Week, which may or may not happen.Chris Broussard – FS1 NBA Insider is in-studio to discuss Colin’s contention that LeBron is the most complete player ever, if Klay Thompson is the odd man out in Golden State, and the reaction to the result of the presidential election in the NBA.Christian Pulisic – Borussia Dortmund and U.S. Soccer midfielder joins the show to look ahead to the USMNT showdown with Mexico in Columbus, Ohio, how he deals with the expectations being heaped on him as the future of U.S. soccer, and whether the MLS will be viewed as an elite professional league.last_img read more