Priced below asset value, Japfa to buyback 183.3 million shares

Agribusiness company Japfa has announced its intention to repurchase 183.3 million of its common shares off-market at 35.5 cents per share, given that the company's shares are currently trading below its net asset value of 52 cents. This offer represents approximately 9% of the total shares issued by the company and reflects a premium of 6% compared to the closing price on 19 August. Should the buyback reach its maximum, Japfa would incur a total cost of $65.1 million, with funds sourced from internal cash or external borrowings. The company has stated that this repurchase will not have a significant impact on its working capital or gearing levels.

https://internasional.kontan.co.id/news/harga-di-bawah-nilai-aset-japfa-akan-buyback-1833-juta-saham
 

Bill Gates has sold his shares in Microsoft and purchased shares in Berkshire Hathaway.

The Bill & Melinda Gates Foundation Trust has implemented changes to its investment portfolio during the second quarter of 2024. The trust reduced its holding in Microsoft by 4.41%, although Microsoft remains the largest holding, representing 32.71% of the total portfolio. Additionally, the trust increased its investment in Berkshire Hathaway and divested its entire stake in Carvana. The changes were disclosed in a 13F report filed by Berkshire with the US Securities and Exchange Commission, in accordance with the requirements for investors managing funds exceeding $100 million. The Bill & Melinda Gates Foundation, established by Bill and Melinda Gates in 2000, has a two-entity structure. The trust oversees endowment funds, while the foundation is responsible for distributing funds to grantees. The trust's portfolio, with a current valuation of approximately $47.67 billion as of 30 June 2024, comprises 23 stocks, representing a reduction from 24 in the previous quarter.

https://internasional.kontan.co.id/news/bill-gates-jual-saham-microsoft-dan-borong-berkshire-hathaway

World Crude Oil Prices Fall, US Stockpiles Grow

On Wednesday, oil prices fell in anticipation of an uptick in US crude inventories. Additionally, there was optimism that tensions in the Middle East will ease following the visit of mediators to the region. Brent crude futures declined by 9 cents, reaching $77.11 per barrel, while US West Texas Intermediate crude fell by 10 cents, settling at $73.07 per barrel. Analysts have forecast a 347,000-barrel increase in US crude stocks over the past week, with gasoline and distillate stocks declining by 1.043 million and 2.247 million barrels, respectively. The United States is both the largest producer and consumer of oil in the world. The rise in stocks indicates an oversupply, which could suppress price increases. The official estimate of US government inventories is scheduled for release on Wednesday. Additionally, US Secretary of State Antony Blinken's visit to the Middle East to oversee a ceasefire deal in Gaza has raised hopes for a potential resolution to the 10-month-old war, which could impact crude oil supplies from major producers. The ongoing economic struggles in China, the largest importer of crude oil, also continue to affect the market.

https://internasional.kontan.co.id/news/harga-minyak-mentah-dunia-turun-stok-as-bertambah