Bakrie &
Brothers Tbk Bakrie & Brothers
Tbk (BB), one of Indonesian largest conglomerates, was hit by the Asian financial
crisis that forced it to undertake US$1 billion debt restructuring in 2001. After
completing its debt restructuring, BB engaged PCR in 2004 to raise a US$200
million right issue and re-build its reputation among the financial and investment
communities. Until that time, no stockbroker followed BB. PCR published
a 100-page research report with a buy recommendation and arranged analyst briefings
and regular monthly and quarterly publications that garnered interests from foreign
investment banks and stockbroking houses. Subsequently, several large foreign
and domestic stockbrokers agreed to publish "buy" research reports on
BB and took them to global roadshows. BB succeeded in raising a US$200 million
rights issue, the largest in the JSX history then, and was rated "buy"
by nearly all leading stockbrokers. Since then, it has received numerous privileged
invitations to join global investor forums and roadshows sponsored by global and
regional stockbrokers. In 2006, BB was named the best investor relations company
in Indonesia by the prestigious Asia Money magazine. PCR helped
BB to unlock shareholder value by (i) raising its market value (capitalisation)
more than 4 times in 3.5 years from US$170 million to nearly US$1 billion, (ii)
placing it in the coverage list of many global stockbrokers, and (iii) bolstering
its investor-relation reputation to be voted the best by the Asia Money. |