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Asia Top News and Analysis Indonesia

  • SINGAPORE, Oct 10- Singapore conglomerate Fraser and Neave Ltd, the takeover target of a Thai tycoon, said it had rebuffed a S $1.4 billion bid for its hospitality and serviced residence business.

  • Indeed the reception to the four deals that priced last night by Sunac China, United Overseas Bank, Syndicate Bank and Lifestyle suggest that there is still an enormous pool of funds that have to be put to work with only three months left of 2012..

  • KUALA LUMPUR, Oct 10- The founders of Malaysia's AirAsia Bhd, Tony Fernandes and Kamarudin Meranun, are set to kick off an initial public offering spree in 2013 with three listings worth more than $500 million.

  • SINGAPORE/ BEIJING, Oct 10- Asia's top refiner, China's Sinopec, has started work to build Southeast Asia's largest oil storage terminal at the Batam free trade zone in Indonesia, the company and industry sources said, in an $850- million investment aimed to boost petroleum trading.

  • SINGAPORE, Oct 10- Singapore conglomerate Fraser and Neave Ltd, the takeover target of a Thai tycoon, said it had rebuffed a S $1.4 billion bid for its hospitality and serviced residence business.

  • SINGAPORE, Oct 10- Overseas Union Enterprise Ltd. made the S $1.4 billion bid for Fraser and Neave Ltd's hospitality and serviced residence unit that was rebuffed by the Singapore conglomerate, a source with knowledge of the matter said.

  • JAKARTA, Oct 10- Following is some company-related and market news that could have an impact on the local market.

  • HONG KONG, Oct 10- Hong Kong shares are set to dip on Wednesday if weakness on Wall Street sparks profit-taking after the previous session's China- led rally. Meanwhile, the European Commission has delayed a trade case against Huawei and ZTE Corp, easing tensions between the European Union and China.

  • STOCKS TO WATCH-- FRASER AND NEAVE LTD. -CapitaLand Ltd, Southeast Asia's largest property developer, said on Tuesday that Lim Ming Yan will become its new chief executive officer and president from Jan 1.

  • STOCKS TO WATCH-- FRASER AND NEAVE LTD. -CapitaLand Ltd, Southeast Asia's largest property developer, said on Tuesday that Lim Ming Yan will become its new chief executive officer and president from Jan 1.

  • Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market. *The Look East Policy- A New Dimension Conference at Grand Mahkota Foyer, Lower Ground, Istana Hotel, Jalan Raja Chulan, Kuala Lumpur at 830 am.

  • Finding Value in Emerging Asia

    Paul Gruenwald, Chief Economist, Asia Pacific, ANZ says Indonesia and Philippines have proven relatively resilient against the global uncertainty as they're de-linked from the global supply chain.

  • LONDON, Oct 9- West African crude oil differentials were under pressure again on Tuesday, as talk that Unipec resold unwanted Angolan cargoes highlighted the limited demand in China. *Qua Iboe: Seen trading around the $2.10 level, little changed from the day before, but below the $2.10 to $2.50 range seen on Friday.

  • TOKYO, Oct 9- Japan is ready to provide $13 billion of funding for infrastructure projects in Indonesia, it said on Tuesday, as it looks to capitalise on the Southeast Asian nation's strong economic growth. The investment is Japan's contribution to a jointly funded 410 trillion rupiah development plan for the greater Jakarta area.

  • SINGAPORE/ BEIJING, Oct 9- China's Sinopec has started work to build Southeast Asia's largest oil storage terminal at Indonesia's Batam Free Trade Zone, industry sources said on Tuesday. Industry sources said the project was originally planned as a joint-venture between the Chinese refiner and OilTanking, a unit of the privately held Marquard& Bahls.

  • SINGAPORE, Oct 9- Asia's fuel oil cash differentials recovered on Tuesday as low prices helped to stir up buying interest. Cash differential for 180- centistoke fuel oil narrowed more than a dollar to a discount of 40 cents a tonne above Singapore spot quotes, the highest in three sessions.

  • But the high-pitched row between Beijing and Tokyo over their ownership is exacting a growing toll on Japan, threatening to send its recovery from last year's disasters into reverse.

  • BANGKOK, Oct 9- Stocks in Singapore, Thailand and the Philippines edged lower on Tuesday amid broad-based sell-off in regional large caps such as Metropolitan Bank& Trust Co. and Siam Cement Pcl as concerns about global growth dented investor sentiment. Late selling erased most of morning gains in Malaysia.

  • SINGAPORE, Oct 9- Indonesia's state-owned Pertamina has concluded term negotiations to supply low sulphur waxy residue in the fourth quarter at lower premiums, traders said. The term contract, to supply about 200,000 barrels of V1250 grade LSWR a month, was awarded at a premium of $50.00- $55.00 a tonne to Singapore quotes, according to the traders.

  • The National Broadcasting and Telecommunications Commission will hold the much-delayed auction on Oct. 16. Market leader Advanced Info Service, 21 percent owned by Singapore Telecommunications Ltd, will bid through wholly owned unit Advanced Wireless Network Co. Ltd..