- Krakatau Steel 2008 Net Pft IDR459.57 Bln Vs IDR313.44 Bln
- Indonesia SMF Ups Bond Issuance Size To IDR300B From IDR200B
- Indonesian Transport Ministry Revokes Licenses Of 27 Airlines
- Indonesia's Hexindo Set To Chalk Up $189 Mln In Income
- Holders Of Indonesian Telco Mobile-8 Bonds Agree On Roll Over
- Profit Of Indonesia's Bank Jabar Banten Up 76 Per Cent
- Indonesia Gives State Bank Of India Foreign Exchange Status
- Indonesia's CMNP Set To Carry Out Antasari-Depok Toll Road Project
- Indonesia's Tunas Hopes To Up Export Earning Despite Falling Price
- Indonesia's Petrochemical Industry Will Suffer Under Afta
- Indonesia Rejects Loans With Commitment Fee: Fin. Minister
- Indonesia's Inflation Predicted To Hit All-Time Low In June
- Indonesia, Turkey Agree To Double Trade In Five Years
(Courtesy Joyo News Service)
Krakatau Steel 2008 Net Pft IDR459.57 Bln Vs IDR313.44 Bln
JAKARTA, June 29 (Dow Jones)--PT Krakatau Steel said Tuesday its
net profit for 2008 rose to IDR459.57 billion ($44.7 million)
from IDR313.44 billion a year earlier on higher sales.
The unlisted state-owned steel producer said that its sales for
the year rose to IDR20.63 trillion from IDR14.84 trillion.
Krakatau Steel said that its gross profit increased to IDR2.72
trillion in 2008 from IDR1.77 trillion a year before.
The company didn't provide comment on its performance.
The government is waiting for approval from parliament to kick
off a plan to sell part of its stake in Krakatau Steel to the
public.
----------------------------------
Indonesia SMF Ups Bond Issuance Size To IDR300B From IDR200B
JAKARTA, June 30 (Dow Jones)--Indonesian state-owned secondary
mortgage-facility provider PT Sarana Multigriya Finansial
increased the size of a one-year bond issue to IDR300 billion
from IDR200 billion due to ample demand, its President Director
Erica Soeroto said Tuesday.
The bonds, issued Monday, have an annual coupon of 10.125%.
"SMF will become a regular bond issuer and will use the proceeds
as mortgage loan only, not for other purposes," Soetoro told Dow
Jones Newswires.
The company, established in 2005, had a net profit of IDR77.26
billion last year, an increase of 19%.
-----------------------------
Indonesian Transport Ministry Revokes Licenses Of 27 Airlines
JAKARTA, June 29 Asia Pulse - The Indonesain Transport Ministry
has officially revoked the licenses held by 27 airlines after 12
months failing to start or resume operation.
Air Transport Director General Herry Bakti S. Gumay said 16 of
the holders were to operate scheduled flights and 11 holders to
operate chartered flights.
Herry said based on a ministerial regulation, airlines failing
to operate in 12 successive months would have their licenses
revoked.
The 27 companies may resume operation but they have to meet a
new regulation that requires a new airline serving scheduled
flights to operate at least 10 aircraft and at least five units
of which are own aircraft.
Under the new regulation an operator of chartered flights is
required to operate at least 5 aircraft with at least two unit
own aircraft, the newspaper Bisnis Indonesia said.
-------------------------------
Indonesia's Hexindo Set To Chalk Up $189 Mln In Income
JAKARTA, June 30 Asia Pulse - Indonesian heavy equipment company
PT Hexindo Adiperkasa (JSX:HEXA) said it is set to chalk up
US$189.43 million in income in a year ending March 2010.
Sales of heavy equipment would contribute most to the income,
Hexindo President Manuntun Situmorang said.
The company will focus on sales of heavy equipment for the
mining sector, Situmorang said, adding, his company leads in the
market of giant excavators needed in the sector.
The company hopes to sell 1,121 units of heavy equipment valued
at US$101.4 million including to the mining, construction,
agribusiness and forestry sectors.
Its also hopes to earn from the sales of spare parts and heavy
equipment maintenance service, he was quoted as saying by the
newspaper Investor Daily.
-----------------------------
Holders Of Indonesian Telco Mobile-8 Bonds Agree On Roll Over
JAKARTA, June 30 Asia Pulse - Holder of the bonds of debt
burdened cellular phone operator PT Mobile-8 Telecom agreed to
restructure a Rp675 billion (US$66.15 million) bond debt of the
company.
Around 79 per cent of bond holders that attended the meeting
yesterday agreed on proposed rescheduling by phases in five
years and cut in bond coupon rate, Mobile-8 secretary Chris
Taufik said.
Mobile-8 does not have to be injected with additional capital if
it manages to chalk up profit before interest, tax, depreciation
and amortization in the first quarter of 2010, Chris added.
Under the agreement the debt maturity date is rolled over from
March 15 in 2012 to March 15 in 2017 and the coupon rates are
cut from 12.375 per cent to 5 per cent in 2009-2011, to 8 per
cent in 2012-2014 but raised to 18 per cent in 2015-2017.
The company also is required to have sinking fund paid on August
31 in 2009 and Sept. 15 in 2009, the newspaper Bisnis Indonesia
said.
-----------------------------
Profit Of Indonesia's Bank Jabar Banten Up 76 Per Cent
JAKARTA, June 30 Asia Pulse - The pre-tax profit of Indonesia's
Bank Jabar Banten shot up 76.35 per cent to Rp473.37 billion
(US$47 million) in the first five months of this year from the
same period in 2008.
Agus Ruswendi, the president of the bank, which is owned by the
West Java and Banten provincial administrations, attributed the
increase to 27.87 per cent credit expansion from Rp14.01
trillion to Rp7.92 trillion .
Meanwhile the third party funds held by the bank rose 20.41 per
cent to Rp23.84 trillion in the same period..
Agus said the bank is set to grow to become one of the country's
ten largest banks.
------------------------------
Indonesia Gives State Bank Of India Foreign Exchange Status
JAKARTA, June 30 Asia Pulse - Bank Indonesia has finally granted
the foreign exchange bank license to State Bank of India (SBI)
Indonesia to facilitate trade between the two countries.
SBI Indonesia has to wait for two years to secure the license ,
said Rajive Saran, the president of the Indonesian unit of State
Bank of India.
With the license, the bank could take a significant role in
facilitating the bilateral trade , which is valued at around
US$10 billion a year, Saran said.
Finance director of SBI Indonesia Sathyamurthy said trade
between the two countries have grown fast but payment service is
not yet efficient and takes a long time by payment agent.
Indonesia has continued to chalk up surplus in trade with India
in the past five years.
-------------------------------
Indonesia's CMNP Set To Carry Out Antasari-Depok Toll Road
Project
JAKARTA, June 30 Asia Pulse - Indonesia's PT Citra Marga
Nusaphala Persada (JSX:CMNP) said it is set to continue with the
construction of its Depok-Antasari toll road project delayed on
financial problem.
The main problem faced in carrying out the project is the cost
that swelled from Rp2.5 trillion (US$250 million) to around
Rp5.5 trillion, company operational director Hudaya Arryanto
said.
So far only 0.04 per cent of the land has been cleared, Arryanto
said, adding that the price of land has been raised by the
owners when they knew their lands are needed by the project.
CMNP, the government and banks are holding a meeting to discuss
the fate of the 21.55 kilometer toll road project, he said.
Difficulties in land clearing have been the main factor causing
delay in the implementation of toll road project in the country.
--------------------------------
Indonesia's Tunas Hopes To Up Export Earning Despite Falling
Price
JAKARTA, June 29 Asia Pulse - Indonesian crude palm oil
producer, PT Tunas Baru Lampung (JSX:TBLA) hopes to earn Rp4
trillion (US$400 million) in sales this year or higher than last
year despite falling price of that commodity.
Last year the company recorded sales valued at Rp3.95 trillion
with net profit at Rp63.34 billion .
Tunas secretary Hardy said the company plans to increase sales
in volume to offset a decline in earning with falling prices.
The company plans to export 320,000 tons of CPO this year or an
increase of 18 per cent from last year's 270,000 tons
-------------------------------
Indonesia's Petrochemical Industry Will Suffer Under Afta
JAKARTA, June 30 Asia Pulse - Indonesia's petrochemical industry
may suffer an opportunity loss of up to US$1.5 billion a year
after the implementation of Asean Free Trade Area (AFTA) scheme,
industrialists said.
Under common tariff preferential tariff of AFTA to be effective
as from this year, the import duties on petrochemical products
will be reduced to 0 per cent-5 per cent.
The import duty cut is feared to result in flooding of the
domestic market with imported products of petrochemical, deputy
chairman of the association of plastic and olefin companies Amir
Sambodo said.
Large imports would cause marketing problem for local products
of polyethylene, polypropylene, Amir said.
He said Singapore, Malaysia and Thailand ,three other member of
the regional economic grouping, could afford to offer lower
prices of the plastic basic materials.
He said the three countries have integrated petrochemical
industry that they could easily control their selling prices.
--------------------------------
Indonesia Rejects Loans With Commitment Fee: Fin. Minister
JAKARTA, June 30 Asia pulse - Finance Minister Sri Mulyani
Indrawati says Indonesia will not take overseas loans requiring
Indonesia to pay commitment fees.
"Since 2004, Bappenas (National Development Planning Board) has
formulated readiness criteria for project loans to be taken by
Indonesia," Sri Mulyani Indrawati said on Monday, when speaking
at a working meeting with the House of Representatives (DPR)`s
Commission XI to discuss the country`s loan position and fiscal
sustainability.
"Bappenas has applied project preparedness criteria. If the
projects are not ready, we don`t take the loans and won`t go to
the State Budget, so that there is no more commitment fee," she
said.
The government (Bappenas and the finance ministry) had conducted
disciplinary measures in local management, including when
meeting creditors.
"We will not sign a loan agreement unless there is a project
preparation for its implementation, so there will be no longer
commitment fee charge," she said.
Sri Mulyani regretted misunderstandings that past practices in
loan management were continuing now.
"We affirm that the loan management policy has completely
changed since the reform era, with the existence of the laws on
state financial sector."
Thanks to the current loan management system, the government
could no longer take overseas loans as they used to where there
had been no transparency and it had been done outside the State
Budget (APBN).
--------------------------------
Indonesia's Inflation Predicted To Hit All-Time Low In June
JAKARTA, June 30 Asia Pulse - Indonesia's inflation is expected
to be less than 1 per cent in the first half of 2009 or an
all-time low for the six-month rate.
Head of the Central Bureau of Statistic Rusman Heriawan said
inflation in June was estimated at 0.46 per cent month-on-month
and 4 per cent year-on-year.
Earlier, the central bank, Bank Indonesia, predicted the
country's inflation was 0.15 per cent month-on-month and 3.8 per
cent year-on-year in June.
Low inflation will give more room for the central bank to cut
its benchmark interest rate (BI Rate) from 7 per cent at present
to 6.75 per cent, analysts said.
The central bank leaders will hold monthly meeting this week
expected to make decision on the BI Rate.
---------------------------------
Indonesia, Turkey Agree To Double Trade In Five Years
JAKARTA, June 30 Asia Pulse - Indonesia and Turkey have agreed
to double bilateral trade to US$4.2 billion in the next five
years.
Currently trade between the two countries is valued at around
US$2.1 billion, exceeding the target of US$2 billion set when
the Indonesia-Turkish Business Council was established 10 year
ago.
Chairman of the Indonesian chamber of commerce and industry MS
Hidayat said Turkey with a population of 70 million and per
capita income of US$10,000 a year provides a potential market
for Indonesian products.
Hidayat said the country's main export commodities to Turkey are
textiles and garments, pharmaceuticals and capital goods.
------------------------------------------
No comments:
Post a Comment