[Kabar-indonesia] 21 Biz/Econ Reports: Cemex-Rajawali Deal to Close July 3; Texmaco; SBIs; Bakrie

[JoyoNews at aol.com]

21 Reports:

- update: Indonesia govt approves Cemex 
  stake sale in Gresik to Rajawali Group
- Indonesia's PPA says to resume efforts
   to sell Texmaco assets
- FT: Indonesia is added to WPP's
    hit list.
- Bank Indonesia auctions 38.86 trln 
  rupiah 1-mth SBIs at fixed rate 12.50 pct
- JP: Forex reserves to surge to $41.4b by
    December
- Indonesia's Bank Panin plans 1.4 trln rupiah
    rights issue - report
- Bank Ekspor Indonesia nets US$120 mln
    loan from 6 bank syndicate
- Deutsche rates Indonesia's Bakrie
    Telecom a buy
- Mobile Tornado Group Wins First Order
   From Indonesia
- Indonesia's Kimia Farma set higher sales
   target for this year
- Indonesia Ciputra eyes 3 trln rph Vietnam
    project-paper
- Indonesia's Jasa Marga to offer 1 trln rph
   bonds
- Malaysia MTD joint-venture plans
    790 mln rgt loan
- Indonesia's Sahid Jaya plans Singapore
   listing next year
- Indonesia's Mitra Adiperkasa shareholders 
  approve 14 rupiah/shr div for 2005
- Indonesia's AKR Corp acquires two port 
  operators in China
- Indonesia allows confiscated timber to 
  be used in reconstruction
- Indonesian production of wood panels down
    in 2005
- Indonesia rubber-Rains in North Sumatra
   squeeze supply
- Indonesia Press: Tunas Baru Eyes 
  $63-Mln CPO Investment
- Indonesia palm oil mixed, olein boosted

Indonesia govt approves Cemex stake sale in Gresik to Rajawali Group

JAKARTA, June 28 (XFN-ASIA) - The government has finally agreed to
allow Cemex SA to close the sale of its 24.9 pct stake in state-run PT
Semen Gresik to the Rajawali Group, an official said.

"The deal has just been approved," said Daryoto Setyawan, managing
director and chief business development of Rajawali Group.

"I just met the minister and we discussed some agreements that should
be prepared within two days before the closing of the deal," he told
reporters after meeting with State Enterprises Minister Sugiharto.

The closing date is slated for July 3.

Cemex has agreed to sell its stake to Rajawali for 337 mln usd after a
prolonged dispute with the Indonesian government.

The dispute centered around a failed option that should have allowed
Cemex to buy an additional 51 pct interest in Gresik from the
government in 2001.

In the current case, while the government has the right of first
refusal to match Rajawali's bid, it failed to exercise this right due
to budgetary constraints.

Cemex also rejected the government's request to allow certain local
governments to buy the Gresik stake.

However, Cemex agreed to cancel the 400-500 mln usd arbitration case
it filed against the Indonesian government in 2003 at the
International Center for the Settlement of Investment Disputes (ICSID)
in Washington.

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Indonesia's PPA says to resume efforts to sell Texmaco assets

JAKARTA, June 28 (XFN-ASIA) - State asset management firm PT
Perusahaan Pengelola Aset (PPA) said it may resume efforts to sell the
Texmaco Group assets, saying it is the best option to recover
Texmaco's outstanding 27 trln rupiah debt to the government.

"After discussions at the ministry of finance, the most realistic
option is to sell the asset," PPA chairman Mohammad Syahrial told a
parliamentary hearing last night.

He said estimates indicate a higher recovery rate from asset disposal
than from other options such as rehabilitating the company.

Separately, Finance Minister Sri Mulyani said her office may issue a
decree next month stating the fair value of Texmaco assets so that PPA
can proceed with the asset sale.

Previous attempts to sell Texmaco's restructured debt assets had been
unsuccessful due to the low bids received.

However, Syahrial admitted that a drawback to the asset disposal
option is the lack of interest from potential investors from the
textile and engineering sector.

He said should the government choose the option of rehabilitating the
Texmaco group, it must seek funding of around 285 mln usd to revive
Texmaco's engineering business and another 175 mln usd to restore its
textile and power generation business.

But he added that such an option will slow down the government's
recovery of Texmaco's obligations, as the new investors will have
priority in Texmaco's debt repayment.

PPA was set up to manage the unsold assets left over by the
now-defunct Indonesian Bank Restructuring Agency (IBRA).

It still holds a 5.52 pct stake in PT Bank International Indonesia,
28.39 pct stake in PT Bank Tabungan Pensiunan Nasional, 6.08 pct in PT
Maybank and 26.16 pct stake in PT Bank Permata and very small stakes
in PT Bank Panin and Bank Lippo.

Other assets include stakes in PT Pengembangan Pariwisata Lombok and
Group Tugu Asuransi and credits extended to PT Dirgantara Indonesia
and Group Dipasena, PT Bali Nirwana Resort and PT Tuban Petrochemical
Industries.

The government has tasked PPA to contribute 2.35 trln rupiah to budget
financing this year.

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Financial Times (UK)
June 28, 2006

Indonesia is added to WPP's hit list.

By Carlos Grande

Sir Martin Sorrell has added Indonesia to the key growth markets
targeted by WPP.

The country joined the familiar list of Brazil, Russia, India and
China where WPP has attempted to tap underlying growth in marketing
spend.

Speaking at the marketing services group's annual meeting, Sir Martin,
chief executive, estimated that by 2015 the fast growing nature of the
five markets meant they would account for 25 per cent of WPP revenues
without the group having to make acquisitions. WPP also sees growth
potential in Vietnam and Pakistan.

Sir Martin also reasserted WPP's continued interest in Synovate, the
research business analysts value at up to Pounds 400m that is
currently owned by Aegis, the media buying, research and digital
group.

Vincent Bollore, chairman of Havas, the Paris-based marketing services
group, has amassed a 29 per cent stake in Aegis, prompting speculation
he may attempt to buy Aegis and sell off parts such as Synovate to
bidders likely to include WPP and Publicis.

According to a trading statement released at the AGM, WPP's
like-for-like revenue growth slightly undershot expectations.

The group lifted Asia Pacific revenues by more than 8 per cent in the
first five months of 2006. This contrasted with the average 4.5 per
cent rise in like-for-likes across the group. WPP shares fell by 15
1/2p to 626p.

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Bank Indonesia auctions 38.86 trln rupiah 1-mth SBIs at fixed rate 12.50 pct

JAKARTA, June 28 (XFN-ASIA) - Bank Indonesia said it has auctioned
38.86 trln rupiah worth of one-month Bank Indonesia Certificates (SBI)
at a fixed interest rate of 12.50 pct, unchanged from the previous
week.

The interest rate is pegged to the benchmark rate, called the BI rate.

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The Jakarta Post
June 28, 2006

Forex reserves to surge to $41.4b by December

The Jakarta Post , Jakarta

The government has predicted that the country's foreign exchange
reserves will increase by 19.6 percent to $41.5 billion by the end of
this year from $34.7 billion late last year.

When speaking to members of the Regional Representatives Council on
Tuesday, Finance Minister Sri Mulyani Indrawati said that the increase
in forex reserves would be driven by stronger exports and foreign
investment inflows.

She said that the predicted end-of-year reserves would be adequate to
cover 4.7 months of imports and the government's debt repayment plan.

"In December, we expect this year's current account surplus to have
reached $1.9 billion, double last year's $0.9 billion," she said.

The current account surplus would result from estimated exports worth
$95 billion, higher than the combined $60.9 billion in imports and the
$23.2 billion services deficit, the minister said.

The higher exports, she added, would come from non-oil and gas exports
of $70.8 billion and oil and gas exports worth $24.2 billion as of
December this year.

The government also expected a surplus of $5.0 billion in the capital
account by the end of this year, which in turn would contribute to the
higher forex reserves. Last year, the country recorded a capital
account deficit of $3.9 billion.

"This year, we are projecting a capital account surplus based on an
increase in foreign direct and portfolio investments," she said.

The Investment Coordinating Board (BKPM) recorded 377 foreign direct
investment projects with a realized investment value of $3.14 billion
during the first five months of this year, as compared to 321 projects
and $2.98 billion in realization investment during the same period
last year.

Sri Mulyani said that foreign portfolio funds had been attracted to
Indonesia by higher returns here due to the interest rate
differential.

The increase in the country's current account surplus was expected to
continue next year, creating an even higher foreign exchange balance
by the end of 2007, she predicted.

Mulyani said that by the end of 2007, it was expected that forex
reserves would stand at $48.3 billion, enough to cover five months of
imports and government debt repayments.

She added that the improved stability in the country's current account
and the foreign exchange reserves should, in turn, lead to increased
stability for the rupiah, which was expected to trade within a range
of between Rp 9,000 and Rp 9,500 against the U.S. dollar in 2007.

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Indonesia's Bank Panin plans 1.4 trln rupiah rights issue - report

JAKARTA, June 28 (XFN-ASIA) - PT Bank Panin, is proposing to sell 4.01
bln new shares via a rights issue aimed at raising 1.4 trln rupiah,
Bisnis Indonesia reported.

The bank is the eighth largest, by asset terms, in the country.

The report quoted the bank's deputy president Roosniati Salihin as
saying that the proceeds will be used to strengthen the bank's capital
which currently stands at 5.5 trln rupiah.

The bank is aiming to hike its capital to 10 trln rupiah over the next
few years, she added.

At the same time, Bank Panin's controlling shareholder PT Panin Life,
which owns a 42.18 pct stake, is also proposing a rights issue. It
will use a portion of the proceeds, expected to reach 1.49 trln
rupiah, to buy new shares being issued by Bank Panin, the newspaper
reported.

In turn, Panin Insurance, which holds 51.33 pct of Panin Life is also
planning to sell 3.55 bln new shares via a rights issue.

Panin Insurance will use a portion of the rights issue proceeds to buy
new shares being issued by Panin Life, the report said.

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Bank Ekspor Indonesia nets US$120 mln loan from 6 bank syndicate

JAKARTA, June 28 (Asia Pulse/Antara) - Bank Ekspor Indonesia (BEI) has
secured a loan commitment of US$120 million from a syndicate of 15
banks.

US$70 million of the loan will be available toward the end of this
month with the rest to follow in September, the state export bank
president Arifin Indra said after the signing the loan agreement in
Singapore yesterday.

Six foreign banks, with branches in Singapore, DBS Bank, HSH Nord
Bank, OCBC Bank, Sumitomo Mitsui Banking and Natexis- acted as the
lead managers of the loan.

Arifin said the loan will be used to improve the funding structure of the 
bank.

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Deutsche rates Indonesia's Bakrie Telecom a buy

JAKARTA, June 28 (Reuters) - Deutsche Bank said it had strarted
coverage on Indonesian mobile phone operator PT Bakrie Telecom Tbk
with a "buy" rating and a target share price of 210 rupiah.

Bakrie shares finished at 170 rupiah on Tuesday, having risen nearly
55 percent since their debut in February.

Deutsche said in a report dated June 27 that the low-cost operator was
expected to book a net profit after tax of only 2 billion rupiah
($215,300) this year but bottom-line earnings were expected to
continue to grow to 304 billion by 2008.

"Its 'disruptive' cheaper on-net tariffs and more direct distribution
approach gained traction with customers," Deutsche said.

The company, controlled by the family of Indonesia's chief social
welfare minister, Aburizal Bakrie, booked a net loss of 144 billion
last year.

Bakrie Telecom's revenue was expected to expand to 678 billion rupiah
by the end of this year and to 1.91 trillion rupiah by 2008.

"We view cheaper handsets and a solid distribution or brand strategy
will drive Bakrie's subscribers to reach 4.2 million by 2008,"
Deutsche said.

Its forecast was much more conservative than guidance from Bakrie
Telecom, which predicted net profit would rise to 7.3 billion this
year and 342 billion in 2007.

The operator aims to have 1.3 million users by the end of this year,
up from just over one million in early June and 408,000 customers last
year.

Mobile phone use in the world's fourth most populous nation has been
growing at a robust pace in recent years and analysts say prospects of
further growth are good as Indonesia catches up with more saturated
Southeast Asian markets.

At around 21 percent, its penetration rate is still low compared to
Malaysia, with around 80 percent of its population subscribing, and
Thailand's 49 percent.

PT Telekomunikasi Selular (Telkomsel) is the leader in the sector with
more than 50 percent of the market, followed by PT Indosat Tbk with
some 30 percent.

PT Telekomunikasi Indonesia Tbk controls 65 percent of Telkomsel while
Singapore Telecommunications Ltd holds the rest.

Another Singaporean company, ST Telemedia, holds around 42 percent of Indosat.

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Mobile Tornado Group Wins First Order From Indonesia

Edited Press Release

LONDON, June 28 (Dow Jones)--Mobile Tornado Group PLC, an instant
mobile messaging service provider specialising in Push-To-Talk
services, Wednesday announced its first order from Indonesia. The
order, for 30,000 Mobile phone user licences and 85,000 PC user
licences, has been placed by Elektrindo Nusantara.

Elektrindo Nusantara provides telecommunications services throughout
the Indonesian islands and has reached an agreement with Mobile-8, an
Indonesian mobile operator, to start offering PTT services to clients
across the region.

Under the terms of its deal with Elektrindo Nusantara, Mobile Tornado
is responsible for supplying software licences to its patented IPRS
Push-to-Talk technology platform, as well as procuring the associated
third party hardware and software with which IPRS works. Mobile
Tornado will also provide professional services to help install and
configure the system in Indonesia. The service is due to be launched
in Autumn 2006.

Elektrindo Nusantara and Infokom Elektrindo will be merged effective
July 1, 2006. The company supplies telecommunications hardware and
services, primarily in Indonesia. [

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Indonesia's Kimia Farma set higher sales target for this year

JAKARTA, June 28 (Asia Pulse/Antara) - State-owned pharmaceutical
company PT Kimia Farma (JSX:KAEF) is targeting sales worth Rp2.14
trillion (US$214.5 million) this year or an increase of 18 per cent
from last year despite weak demand.

In the first five months of this year the publicly listed company
already recorded Rp710.99 billion in sales, its President Gunawan
Prantoto said.

The growth target of 18 per cent set for this year was the lowest in
five years with sluggish growth generally recorded by pharmaceutical
industry lately, Gunawan said.

He was confident the target could be achieved with demand for
pharmaceutical products expected to grow in the second half of this
year.

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Indonesia Ciputra eyes 3 trln rph Vietnam project-paper

JAKARTA, June 28 (Reuters) - Indonesian property developer PT Ciputra
Development Tbk plans to acquire a project in Vietnam estimated to be
worth 3 trillion rupiah ($322.9 million), a local newspaper reported
on Wednesday.

Investor Daily, quoting Ciputra finance director Tulus Santoso, said
the firm plans to develop a housing complex, apartments, shopping mall
and offices in the 368-hectare area at the International City
Development in Hanoi.

The project has progressed 30 percent since it was started in 2003 and
Ciputra would like to acquire it to develop it further.

Santoso said the company is still appraising the project's value but
the paper reported it could reach 3 trillion rupiah.

Ciputra might issue new shares or bonds to finance the acquisition.

"On the funds that we are preparing, it could be from a rights issue
or bonds depending on the shareholders' decision," Santoso was quoted
as saying.

The project is nearly double the company's value of $181.5 million.

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Indonesia's Jasa Marga to offer 1 trln rph bonds

JAKARTA, June 28 (Reuters) - Indonesian toll road operator PT Jasa
Marga said on Wednesday it will offer 1 trillion rupiah ($107.6
million) worth of 10-year bonds to refinance its bank loans.

The state-owned firm said the paper will carry a 13.5 percent coupon,
which will be paid quarterly. Bahana Securities has been appointed as
the lead underwriter for the issue.

The bonds will be offered between June 29 and July 3 and be listed on
the Surabaya Stock Exchange on July 7.

Jasa Marga had said it plans an initial public offering in the fourth
quarter of this year to raise between 1.5-2.0 trillion rupiah for
working capital and to build some toll roads.

The company, which operates around 456 km (285 miles) of toll roads,
or 77 percent of the country's expressways, had said it was trying to
refinance a total of 3 trillion in rupiah loans.

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Malaysia MTD joint-venture plans 790 mln rgt loan

KUALA LUMPUR, June 28 (Reuters) - A joint-venture between an
Indonesian firm and Malaysian engineering company MTD Capital Bhd will
take a loan of about 790 million ringgit ($214 million) to build a
toll road in Indonesia, MTD said on Wednesday.

The amount is about 70 percent of the 1.13 billion ringgit total
construction cost for a 34-km highway that MTD Capital and Indonesia's
PT Nusacipta Etika Pratama will build in Indonesia, MTD group managing
director Azmil Khalid told Reuters.

The maturity of the loan had not been finalised, he said, adding that
the balance of the construction costs would be financed through
equity.

Azmil said it would probably be an Indonesian rupiah loan and talks
were ongoing with Malaysian and foreign banks to secure the financing.
He declined to name the lenders.

MTD and PT Nusacipta Etika Pratama's participation in the project is
in the ratio of 90:10. It will take 24 months to build the highway.

Malaysian builders are venturing abroad due to a dearth in
construction jobs at home as the government reduces spending to cut a
fiscal deficit it has run since 1998.

MTD Capital, which has a market capitalisation of 527 million ringgit,
specialises in the construction of highways.

The company's shares closed 4.9 percent up at 1.71 ringgit.

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Indonesia's Sahid Jaya plans Singapore listing next year

JAKARTA, June 28 (XFN-ASIA) - Hotel operator PT Hotel Sahid Jaya
International is planning to sell 20 pct of its shares via a secondary
offering in Singapore ahead of a listing on the Singapore Exchange
next year, company president Indo Juwono said.

He told reporters that proceeds from the offering, estimated at some
100 bln rupiah, will be used to help fund a new project called the
Sahid Perdana tower which may cost around 500-600 bln rupiah.

"Before the offering, we will need to improve our financial
performance this year," he said, adding that the firm is looking to
post net profit of 47. 99 bln rupiah this year.

Last year the company posted a net loss of 52.99 bln rupiah.

Sahid Jaya's major shareholder is the Merchiston Group which holds a
41. 68 pct stake.

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Indonesia's Mitra Adiperkasa shareholders approve 14 rupiah/shr div for 2005

JAKARTA, June 28 (XFN-ASIA) - Retailer PT Mitra Adiperkasa said its
shareholders have approved a 2005 dividend of 14 rupiah per share or a
total of 23.24 bln rupiah.

The company posted a 2005 net profit of 131.94 bln rupiah on sales of
2. 88 trln.

In a statement, it said it will allocate some 5 bln rupiah of the net
profit for the company's reserve fund and retain the rest.

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Indonesia's AKR Corp acquires two port operators in China

JAKARTA, June 28 (Asia Pulse/Antara) - Publicly listed chemical
distributor PT AKR Corp. (JSX:AKRA) said it has acquired two port
operators in China to support its business expansion in distribution
and logistics abroad.

The two companies acquired at a price of Rp77 billion (US$8.2 million)
are renamed Guangzhou Goigang AKR Container Port Co. Limited and AKR
Goigang Port Co. Limited.

AKR President Haryanto Adikoesoema said the acquisition is mainly to
strengthen its business in logistics.

AKR Corp. is the world's second largest producer of sorbitol and the
largest logistics company in Indonesia.

The company targets to chalk up Rp4 trillion in sales this year, up
from Rp2.8 trillion last year.

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Indonesia allows confiscated timber to be used in reconstruction

JAKARTA, June 28 (Asia Pulse/Antara) - Natural disaster hit regions
are allowed to buy timber confiscated by police in anti-illegal
logging operations for reconstruction, an official said.

The timber products although still in the process of legal
investigations could be bought through auction rather than letting
them be damaged from decay, according to Noor Hidayat, a director at
the forestry ministry.

Noor said there are 490,825 cubic metres of wood products detained by
the law authorities in Kalimantan and Sumatra alone, adding they risk
a decline in quality if they are left unused while waiting for the
long process of legal investigation.

The wood products, including 463,669 cubic metres of logs and 27,156
cubic metres of processed timber, were confiscated in anti-illegal
logging operations launched by police until June in Sumatra and
Kalimantan.

A number of regions ravaged by earthquake and flood notably Aceh and
Yogyakarta, need a large supply of wood for reconstruction.

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Indonesian production of wood panels down in 2005

JAKARTA, June 28 (Asia Pulse/Antara) - The association of wood panel
industry (Apkindo) said the country's production of wood panels shrank
to only 3.5 million cubic meters in 2005 from a peak of 7 million
cubic meters in 2000.

Deputy chairman of Apkindo Abbas Adhar said this year, the country is
expected to produce not more than 2 million cubic meters of wood
panels.

He said only 52 of 120 plywood factories in the country still export
plywood and they are operating only at 50 per cent of heir capacity.

Worse still is that Indonesian plywood panel is treated with
discrimination in Europe, which imposes an import duty of 7 per cent
on plywood from Indonesia as against only 3.5 per cent on Malaysian
plywood.

Meanwhile, the forestry industries in rival countries including China,
Vietnam and Malaysia are expanding rapidly.

China, where logging is banned, could export furniture valued up to
US$14 billion in 2005 or an increase of US$1.1 billion annually in the
past 8 years.

Indonesia exports rattan to China, which uses it to feed its furniture 
industry.

Indonesia has repeatedly accused China and Malaysia of using smuggled
logs from Indonesia.

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Indonesia rubber-Rains in North Sumatra squeeze supply

JAKARTA, June 28 (Reuters) - Tight domestic supply and steady demand
are expected to boost Indonesian rubber prices in the next few weeks,
traders said.

Wet weather has curbed rubber supply from North Sumatra, one of
Indonesia's key growing areas, supporting raw material prices.

"Delivery of raw material from plantations has been hampered because
roads were flooded...Maybe in July, rains will taper off and supplies
will return to normal," said a trader in Medan.

Raw material prices in North Sumatra have been firm at 16,400 rupiah
($1.77) a kg.

Wintering in South Sumatra province, another key growing areas, is
also likely to keep supply tight in the coming weeks.

"Supplies are tight at the moment because supplies from North Sumatra
are yet to return to normal and early wintering is starting in South
Sumatra," said a trader in Padang, West Sumatra province.

Wintering occurs in the warmest month of the year when rubber trees
shed their leaves and latex output slows. In South Sumatra, wintering
normally runs from July to September.

Tight supply, steady demand from major buyers such as China and fresh
buying interest from China have supported Indonesian rubber prices in
the past week.

Deals were noted for Indonesia's tyre-grade SIR20 at 107.5 U.S. cents
per pound ($2.37 a kg) overnight, free on board Belawan for August
shipment. SIR 20 traded at 103.25 U.S. cents in early June.

On Wednesday SIR20 was offered at between 107.5 and 108 U.S. cents,
free on board Belawan and Palembang for August shipment.

"Demand has been steady. China is still the leading buyer although
they are cutting down purchases due a jump in prices," said a trader
in Jakarta.

"Buyers from India started to enter the market. There were some
shipments to India in the past week, but they don't buy in big
quantities."

Traders expect demand to continue to support prices in the next few weeks.

"Prices can still go up to around 107.5 to 110 U.S. cents per pound
because buyers keep looking for supplies for immediate shipment in
August and September," said the Padang trader.

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Indonesia Press: Tunas Baru Eyes $63-Mln CPO Investment

JAKARTA, June 28 (Dow Jones)--Indonesian food and beverage producer PT
Tunas Baru Lampung (TBLA.JK) is planning to invest around $63 million
to develop a 10,000-hectare palm oil plantation and refinery, the
Investor Daily reported Wednesday, citing Tunas Baru Vice Public
Director Sudarmo Tasmin.

Cultivation at the plantation, to be located in the province of South
Sumatra, will begin later this year, the report said, while
construction of the refinery is expected to start in 2008.

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Indonesia palm oil mixed, olein boosted

JAKARTA, June 28 (Reuters) - Indonesian palm oil prices were mixed on
Wednesday, but RBD palm olein got a lift from gains in Malaysia crude
palm oil futures and a weakening rupiah against the dollar, traders
said.

But trading remained slow given a lack of fundamental news.

At a local auction in North Sumatra's Medan, Indonesia's key port for
palm oil exports, crude palm oil was quoted at 3,930 rupiah ($0.421) a
kg, little changed from between 3,931 and 3,936 rupiah on Tuesday.
Some 750 tonnes traded at the auction.

In Jakarta, CPO prices at the state marketing centre's auction fell to
3,908 rupiah from 3,931 on Monday. The centre did not sell any of the
3,500 tonnes of CPO offered at an auction on Tuesday due to low bids.

"Malaysia is not moving much, so is the rupiah. We do not see any
demand coming in. Basically prices are stable," said a trader in
Medan.

RBD palm olein in Jakarta was quoted around 4,285 rupiah, up from
4,275 on Tuesday and supported by slight gains in Malaysia crude palm
oil futures and a weakening rupiah against the dollar.

Malaysian crude palm oil futures rose marginally, tracking gains in
rival soyoil. By the mid-session break, the benchmark third-month
September <KPOU6> contract on the Bursa Malaysia Derivatives was up 5
ringgit at 1,468 ringgit ($399) a tonne.

Late on Wednesday, the rupiah was quoted at 9,335 rupiah per dollar
versus 9,290.

On the export front, deals were noted overnight for July shipment at
$389 a tonne, free on board Belawan. There were no details on the
quantity and destinations.

On Wednesday sellers offered July shipment at $392.5 a tonne for July
shipment, free on board Belawan. No bids from buyers were reported.

August shipment was offered at $395, free on board Belawan. Buyers bid
$390, but no trades were reported.

Traders said demand for exports remained slow as buyers still had
ample stocks of edible oils.

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Joyo Indonesia News Service
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