Friday, July 3, 2009

cigarette business here has been increasing

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In the midst of incessant campaign of no smoking, British American Tobacco (BAT Ltc) her holdings increase ownership in PT Bentoel international Investama Tbk. Cigarette business prospects in Indonesia are still promising.

BAT is never running out of intellect in the business wing stretch. After the 85.13% shares of PT Bentoel Investama International Tbk (RMBA) of the Rajawali Group and other shareholders, BAT is now intend to take the rest of the company's shares Cigarette home in Malang, East Java, the.

Wednesday (1 / 7), BAT appointed PT Deutsche Securities Indonesia and PT UBS Securities Indonesia to conduct the tender offer (tender offer) or 14.87% 1,001,529,137 shares Bentoel. For the remaining shares Bentoel, the BAT provides funds Rp 874.33 billion.from

This means that the shares be valued RMBA Rp 873 per sheet or 60.77%. Price tender offer far more than the price of the average daily trading last 90 days before June 17, which was Rp 543 per share.

Pantaskah 14.87% shares valued RMBA Rp 873 per share? Some of the reasonable market rate. However, the other is the price too expensive. A foreign fund manager assesses the price is too high Pamor related decline in the cigarette industry.

"Campaign antirokok and ban smoking in many public places to make cigarettes less attractive industry," he said.

However, the Head of Research Recapital Securities Poltak Hotradero rate is the price is quite reasonable. He confessed, cigarette business for a national less profitable, because the tax increase and continued sales growth tends to go down.

But, the cigarette market in a developing country like Indonesia is still considered to be prospective. "The potential market of cigarettes at this time we are still large, relatively lax regulations, and the number of people are still growing rapidly," he said.

In developed countries, cigarette sales continue to dwindle because of the high awareness of health, strict advertising regulations, and the slow population growth. Foreign cigarette companies are not developing in their countries. "So they look for opportunities elsewhere," said Poltak.

In many countries, including the United States, smoking is already starting dijauhi consumers. But in Indonesia, the number of cigarettes would show habitue Ascending trends. With a population of around 230 million people, Indonesia to market cigarettes that remain potential.

Therefore, a number of cigarette company in the overseas shift investment to Indonesia. "If there is no prospect of business, where they may (foreign cigarette producers) are willing to issue rupiah triliunan funds," added an analyst.

Indonesia become the country's fifth largest cigarette market of the world. This island nation to target foreign cigarette industry because of the weak regulation of tobacco control. Until now Indonesia has not ratified the Frame Convention Tobacco Control, the much larger market of China and India.

Presumption analyst may be correct. Philip Morris called it. In 2004, the manufacturer of Marlboro cigarettes is real money spent Rp 4.5 trillion more to take 97% share Sampoerna. Only in time of two years, cigarette companies have been the origin of America mengantongi dividend Rp 4.1 trillion.

"The advantage of this BAT also encourage all interested to take stock Bentoel International Investama," said analyst earlier.

Just enough to remind, through subsidiaries (PCA Ltc), BAT has spent the previous funds around Rp 5 trillion to the 85.13% shares RMBA. If the tender offer that will be held from July 14 to August 12 will run smoothly, BAT means the funds have been spent Rp 5.87 trillion more to the 100% stock RMBA.


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