STOCKS NEWS INDONESIA-Lautan Luas in personal care JV with Japan's Ajinomoto

Indonesian chemical distributor PT Lautan Luas Tbk entered into a cosmetic and personal care joint venture with Japanese spice maker Ajinomoto Co Inc , Lautan Luas said in a statement to the Indonesian stock exchange on Tuesday.

The $6 million joint venture, PT Lautan Ajinomoto Fine Ingredients, will produce amino acids and derived speciality products for cosmetic ingredients.

Ajinomoto will own a 66.7 percent stake, while the rest will be held by Lautan Luas, which has been Ajinomoto's Indonesian representative for cosmetic ingredients since 1997.

Shares of the Indonesian chemical distributor were flat at 800 rupiah, while the broader index was up 0.65 percent.

1305 (0605 GMT)


12:14 STOCKS NEWS INDONESIA-CIMB raises Bank Bukopin target price

CIMB Equity Research raised its target price on the shares of Indonesian lender PT Bank Bukopin Tbk to 1,300 rupiah from 1,200 and kept its 'outperform' rating, saying higher net interest margin (NIM) in the second half could be the catalyst.

"Bukopin indicated that it is reducing its exposure to Bulog loans, which amounted to 23% of its portfolio in 2Q12.. This is positive as it could eventually improve NIM since the easing of the LDR (loan to deposit ratio) should alleviate any cost of fund risks and the blended yield should rise," CIMB Equity analysts Mulya Chandra and Hadi Soegiarto wrote in a note on Tuesday.

Bulog, or Indonesian bureau of logistics, is a state-owned enterprise that manages the supply, and controls the reserves and prices, of basic foodstuffs.

"Combining both factors, assuming that Bulog loan exposure drop to 15% in 2H12, NIM could rise by 74 basis point to 5.7%," they said.

The stock was up 1.56 percent at 650 rupiah with 41.6 million shares traded, the second highest volume, while the broader index was up 0.65 percent.

1203 (0503 GMT)

(Reporting by Andjarsari Paramaditha; Editing by Jijo Jacob)

(( 7170 x 909)(Reuters Messaging: