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UPDATE 1-Indonesia - Market Factors to watch - July 8

JAKARTA, July 8 (Reuters) - Following is a list of events in Indonesia as well as news stories and press reports which may influence financial markets.

WHAT IS HAPPENING IN INDONESIA (TIMES IN LOCAL/GMT)
 Initial public offering of PT Bank Pembangunan Daerah Jawa Barat dan Banten, following by a news conference, 1000-1100
 Initial public offering of PT Bukit Uluwatu Villa Tbk
 Jakarta Foreign Correspondents Club's panel discussion on labour conditions in Indonesia, 1000 (0300)
 Indonesian and Mexican foreign ministers will hold a joint press conference after bilateral meeting, 1100 (0400)
 Indo Livestock 2010 Expo & Forum

PRESS DIGEST
 RETAILERS SEEN BOOKING 115 TRLN RPH SALES IN 2010
Indonesian retailers are likely to post 115 trillion rupiah ($12.70 billion) sales this year against around 100 trillion rupiah last year amid steady economic growth, according to results of a survey by Nielsen Company Indonesia. (Kontan)
 CIMB SECURITIES LAUNCHES ONLINE SHARE TRADING
CIMB Securities launched an online share trading facility for its subscribers on Wednesday, aiming to attract 10,000 subscribers by the end of this year, said president director Bernard Thien. (Kontan)
 SMART TO SPEND 300 BLN RPH TO EXPAND PLANTED LAND
Indonesian palm oil producer PT Sinar Mas Agro Resources & Technology Tbk (SMAR.JK) will spend 300 billion rupiah ($33.13 million) to add 3,200 more hectares of planted land in 2010, adding to its current 135,000 hectares of planted land, corporate secretary Pinta Sari Chandra said. (Investor Daily)
 MNC EYES TO ACQUIRE, ESTABLISH 14 LOCAL TV STATIONS
Indonesian media firm PT Media Nusantara Citra Tbk (MNCN.JK) wants to acquire or establish 14 local television stations, adding to its current 16 stations, said the company's investor relations spokesman William Utama Penambahan, adding funds raised from a $300-$400 euro bond issue in the fourth quarter will be used to finance the move. (Investor Daily)
 TIMAH EXPECTS TO REACH HALF OF TIN PRODUCTION TARGET IN H1
State tin miner PT Timah Tbk (TINS.JK) expects to reach 25,000 tonnes of tin production in the first half of 2010, 50 percent of its total tin production target this year, said corporate secretary Abrun Abubakar, adding the firm expects to raise $400 million from sales with an average tin price at $16,000 a tonne. (Investor Daily)
 LAWMAKERS URGE PRESIDENT FOR ANOTHER C.BANK GOVERNOR CANDIDATE
Indonesian lawmakers from the opposition Democratic Party of Struggle (PDIP) urged President Susilo Bambang Yudhoyono to propose another candidate for the post of central bank governor as they said the only candidate Darmin Nasution could be rejected by the parliament on the issue of a bank bailout. (Koran Tempo)
 TELKOM CDMA DEAL TALKS POSTPONED UNTIL NEW MANAGEMENT
State Enterprises Minister Mustafa Abubakar said talks between Indonesia's PT Telekomunikasi Indonesia (Telkom) (TLKM.JK) and Bakrie Telecom (BTEL.JK), the country's second-biggest CDMA operator, on a planned merger of their CDMA business has been postponed until Telkom's new management is formed at the next shareholders meeting or at least until after August. (Koran Tempo)
 KALBE FARMA TO EXPAND CLINICAL BUSINESS
Indonesia's biggest pharmaceutical firm PT Kalbe Farma (KLBF.JK) will expand its clinical business by spending 100 billion rupiah ($11.04 million) to set up a new pharmaceutical factory and 30 billion rupiah to set up clinics for the medium and low economy class market, corporate secretary Vidjongtius said. (Bisnis Indonesia)

MARKET SNAPSHOT
 Asian stocks are set to surge higher on Thursday, as an upbeat forecast from U.S. financial firm State Street Corp (STT.N) sparked a wave of optimism about the upcoming earnings season. [STOCKS-NEWS-ASIA]
 Indonesia's stock index .JKSE fell 0.3 percent on Wednesday with Destinasi Tirta (PDES.JK) leading losses, down 17.72 percent, and Indoexchange (INDX.JK) leading gains, rising 30.97 percent. Gas Negara (PGAS.JK) led turnover, up 0.63 percent, and Benakat Petroleum Energy (BIPI.JK) saw the top volume, falling 7.04 percent. For prices see <0#.JKSE>, for news see [IF-E].
 U.S. stocks logged their best one-day gain in about six weeks on Wednesday after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level. [.N]
 Oil prices rose on Wednesday after six straight sessions of losses, lifted by hopes of a strong earnings season and signs that U.S. crude inventories fell sharply as a result of Hurricane Alex. [O/R]
 Malaysian crude palm oil fell 1.35 percent on Wednesday, its fourth day of losses in five, as investors were concerned higher production may overwhelm already slow demand and lead to higher inventories.

http://www.reuters.com/article/idUSJAK35566720100708?feedType=RSS&feedName=telcommunicationsServicesSector
 

[Last update: 2010-07-08 15:08:51]