[Kabar-indonesia] 29 Biz/Economy Articles: BNI; Telkom; Mandiri; Panin; Fajar; Bakrie
Joyo at aol.com
Joyo at aol.com
Wed Nov 1 17:29:49 MST 2006
29 articles compiled, selected, and formatted by Joyo
Indonesia News Service:
- Indonesia Min:$400M Injection For New Infrastructure
Fund
- Indonesia Min: Optimistic End-'06 Inflation Around 6.0%
- Indonesia's Sept foreign tourist arrivals down 14 pct
- Indonesia Telkom Expects Cellular Customers Up 20% '07
- Indonesia's Telkom in Chinese equipment deal
- Indonesia Min: BNI May Offer More Shrs To Public Next Yr
- Indonesia's Bank Mandiri aims to boost credit by 17 pct
in 2007
- Indonesia's Panin Bank to extend US$111 mln in new
credit in Q4
- Panin Bank's operational profit rises to US$81.3 mln in
Indonesia
- Indonesia's Bank NISP to receive US$50 mln in IFC credit
- Fitch affirms all ratings of Indonesia's BCA, BRI, Bank
Niaga
- Financing by Indonesia's Sharia Bank up 20.84% in 1st 9
months
- Indonesia to phase out SOEs monopoly on managing ports,
airports and railways
- Indonesia hopes to hold tender for Lamongan port in Dec
- Malaysia's PLUS buys stake in Indonesian highway firm
- Indonesia's Fajar Surya 100 mln usd bonds rated "B+" -
Fitch
- Fajar Sets $100M Bond Coupon At 10.75%
- Bond issue of Indonesia's Fajar Surya oversubscribed
- Indonesia hopes to benefit from strong pulp and paper
market
- Indonesia's Kimia Farma reports sharp fall in net profit
- Indonesia's Bakrie & Bros 9-mth net profit 158.99 bln
rupiah vs 504.03 bln
- Indonesia's HM Sampoerna 9 mths net profit 3.0 trln
rupiah vs 2.41 trln
- Indonesia Indocement 9-Mo Net IDR 557.84B Vs IDR538.27B
- Indonesia's Matahari Q3 net profit 36.6 bln rupiah vs
31.9 bln in Q2
- Indonesia's Lippo Karawaci 9 mths net profit 227.54 bln
rupiah vs 278.50 bln
- Indonesia to follow Thailand in marketing horticultural
products
- New fishing law brings foreign investors back to
Indonesia
- Indonesia's CPO exports predicted to fall short of
target
- Indonesian palm oil down on thin demand
----------------------------------------
Indonesia Min:$400M Injection For New Infrastructure Fund
JAKARTA, November 1 (Dow Jones)--Indonesia will set up an
infrastructure investment fund with an initial allocation of
$400 million diverted from the 2006-2007 national budget,
Minister of Finance Sri Mulyani Indrawati said Wednesday.
The minister didn't elaborate on exactly where in the budget
the money would come from or how it would be spent.
Mulyani made the comments at a three-day government-
sponsored infrastructure investment conference that began
Wednesday in Jakarta.
They reflect a government charm campaign aimed at wooing
investors wary about the viability of Indonesian
infrastructure projects and reinforcing official commitments
to eliminate bureaucratic obstacles to such investments.
The government is using the conference to showcase 10
"model" infrastructure investment projects tailored for
rapid tender and application valued at $4.4 billion, an
official statement issued Wednesday said.
The 10 projects comprise three water supply projects, one
ferry terminal project, a port facility, two toll roads, one
telecommunications project and two electricity generation
developments.
The government on Wednesday also unveiled an additional 101
potential infrastructure investment projects with a total
estimated value of $14.7 billion.
The government has prioritized increasing infrastructure
investment to help power annual economic growth to a target
of 6.6% from 2005-2009. The government has forecast 5.8%
gross domestic product growth in 2006, compared with the
5.6% expansion last year.
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Indonesia Min: Optimistic End-'06 Inflation Around 6.0%
JAKARTA, November 1 (Dow Jones)--Indonesia's on-year
inflation is likely to hover around 6% until at least the
end of 2006, Minister of Finance Sri Mulyani Indrawati said
Wednesday.
Mulyani told reporters she was "optimistic" that on-year
inflation would be around 6.00% at the end of 2006, but she
added that year-end holidays could push up on-month
inflation.
Her comments reflect official confidence that the decline in
the on-year consumer price index to 6.29% in October from
14.55% in September reflects a sustainable decline in
inflationary pressure.
Mulyani's forecast compares with a more conservative central
bank projection of a decline in on-year inflation to 7.00%-
8.00% by the end of this year.
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Indonesia's Sept foreign tourist arrivals down 14 pct
JAKARTA, November 1 (Reuters) - The number of foreign
tourists visiting Indonesia in September fell nearly 14
percent from a year ago, the statistics bureau said on
Wednesday, as natural disasters and the threat of bird flu
kept visitors away.
Arrivals dropped to 333,546 in September, taking the total
number of foreign tourist arrivals in the first nine months
of the year to 2.93 million, down 9.26 percent from the same
period last year.
Tourism in the sprawling archipelago of some 17,000 islands,
has been shaken by bomb attacks, tsunamis, earthquakes and
cases of bird flu.
Tourist arrivals in Bali, the country's most popular tourist
destination, fell 25.95 percent in September from a year
earlier, to 124,531 people.
The predominantly Hindu island in mostly Muslim Indonesia is
still struggling to recover after suicide bombers attacked
three restaurants in October last year, killing 20 people.
These attacks occurred three years after Islamic militants
bombed two Bali nightclubs, killing 202 people, mostly
foreign holidaymakers.
Tourism accounts for around 5 percent of Indonesia's
economic activity, and brought in $4.4 billion in 2005.
--------------------------------------------------------
Indonesia Telkom Expects Cellular Customers Up 20% '07
JAKARTA, November 1 (Dow Jones)--PT Telekomunikasi Indonesia
(TLKM.JK) expects its cellular subscriber count to rise
around 20% in 2007 from 35 million expected at the end of
this year, an official with the company said Wednesday.
Telkom President Director Arwin Rasyid told Dow Jones
Newswires on the sidelines of an infrastructure conference
that the company plans to boost capital expenditure to
IDR16.9 trillion ($1.86 billion) next year to serve more
subscribers. [ 01-11-06 1050GMT ]
Rasyid said the company is unlikely to spend all of the
IDR16.2 trillion in cash it has planned for this year as it
managed to lower the costs of some projects.
He added that Telkom may issue bonds or seek other
borrowings to help finance the capital expenditure next
year.
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Indonesia's Telkom in Chinese equipment deal
JAKARTA, November 1 (Reuters) - PT Telekomunikasi Indonesia
Tbk said on Wednesday it had agreed to buy 722 billion
rupiah ($79.27 million) worth of telecommunication equipment
to increase its capacity from two Chinese firms.
Arwin Rasyid, president director of Indonesia's largest
phone company, said Huawei Technologies [HWT.UL] and ZTE
Corp won tenders to boost the firm's fixed-wireless
telecommunication network by 9.7 million lines.
He said the project would be completed by 2010 and would
increase its capacity in Jakarta, West Java and Kalimantan.
Telkom, which has a market capitalisation of around $18
billion, is the dominant player in Indonesia in both fixed-
line and mobile businesses.
The company is controlled by the Indonesian government and
holds a 65 percent stake in PT Telekomunikasi Selular, the
dominant mobile phone operator which controls more than half
in the industry.
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Indonesia Min: BNI May Offer More Shrs To Public Next Yr
JAKARTA, November 1 (Dow Jones)--Indonesia's state-owned PT
Bank Negara Indonesia (BBNI.JK) may offer more shares to the
public next year to boost the liquidity of its shares in the
stock market, Minister of State Enterprises' Affairs
Sugiharto said Wednesday.
"I prefer the public offering mechanism (to other
mechanisms)," Sugiharto, who goes by only one name, told
reporters.
He said the government will study the size of the planned
offering carefully. [ 01-11-06 0242GMT ]
The government owns 99.12% of BNI, the nation's third-
largest bank by assets, leaving a tiny portion in the
public's hands.
State-owned PT Bank Mandiri (BMRI.JK) may issue rights
shares next year to raise fresh capital, Sugiharto told
reporters on the sidelines of an infrastructure seminar.
He didn't elaborate.
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Indonesia's Bank Mandiri aims to boost credit by 17 pct in
2007
JAKARTA, November 1 (Asia Pulse/Antara) - The management of
state-owned PT Bank Mandiri said it is set to improve its
performance in 2007 targeting to chalk up 17 per cent
increase in credit and reduce its gross non performing loan
ratio to less than 10 per cent.
The country's largest lender in term of assets has been
widely criticized for poor performance with high NPL ratio.
Its net NPL was 14 per cent by Sept 30, down from 16 per
cent in January.
The bank President Agus Martowardojo said the recent fall in
interest rates lately will encourage businesses to use bank
loans.
The bank will continue to concentrate more on expanding
credits for the consumer, small and medium enterprise,
corporate and commercial sectors, Agus said.
By the end of the first nine months of this year, the bank
recorded only a 0.53 per cent increase in outstanding
credits to Rp100.85 trillion with loan to deposit ratio
rising from 49 per cent to 53 per cent.
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----
Indonesia's Panin Bank to extend US$111 mln in new credit in
Q4
JAKARTA, November 1 (Asia Pulse/Antara) - PT Pan Indonesia
(Panin) Bank said it is set to disbursed Rp1 trillion
(US$111 million) in new credits in the last quarter of this
year.
The bank already disbursed Rp3.4 trillion in the first three
quarters of this year, its Vice President Roosniati Salihin
said Monday.
Roosniati said credits are expected to grow faster in the
last quarter of this year to follow the declining trend of
inflation and interest rates.
By September 2006, the bank's outstanding credits grew 22
per cent to Rp17.8 trillion compared with a year before.
A faster growth was recorded in retail credits including
consumer credits and credits for small and medium
enterprises which contributed 60 per cent to the total
credits extended by the bank.
The increase in outstanding credits pushed up its loan to
deposit ratio from 55.4 per cent to 77.9 per cent, Roosniati
said.
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----
Panin Bank's operational profit rises to US$81.3 mln in
Indonesia
JAKARTA, November 1 (Asia Pulse/Antara) - Publicly-listed
PaninBank's (JSX:BNGA) operational profit before reserve
funds and tax in the third quarter of 2006 increased by 33
per cent to Rp813 billion (US$81.3 million), a spokesperson
said.
The operational profit was earned mainly from a net income
of Rp1,071 billion from interest and fee-based income of
Rp378 billion, PaninBank Deputy Director Roosniati Salihin
said here Tuesday.
The value of the bank's credits rose from Rp3.4 trillion to
Rp17.4 trillion in nine months, increasing its loan-to-
deposit ratio (LDR) from 55.4 per cent to 77.9 per cent.
Its credits were mostly absorbed by consumers and small- and
medium-scale enterprises and accounted for 60 per cent of
its overall credit portfolio.
PaninBank reduced its non-performing loans (NPLs) to 1.8 per
cent, Roosniati said adding that its net interest margin
(NIM) increased to 4.86 per cent from 4.11 per cent in
December 2005.
Third party funds were recorded at Rp22.8 trillion in the
third quarter of this year, 43 per cent of which comprised
giral and deposit accounts.
Roosniaty said the recent reduction in the interest rate on
Bank Indonesia Certificates (SBI) from 12.75 per cent to
10.75 per cent would spur the bank's intermediation
function.
She expressed optimism that PaninBank's credit extension
performance would improve further in line with the
expectation that Bank Indonesia would reduce its SBI rate
again to 10 per cent late this year.
PaninBank has 246 branch offices and 276 ATMs in 21
provinces.
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Indonesia's Bank NISP to receive US$50 mln in IFC credit
JAKARTA, November 1 (Asia Pulse/Antara) - Indonesia's
publicly-listed Bank NISP (JSX:NISP) won approval of Bank
Indonesia for a credit facility totaling US$50 million from
the International Finance Corporation (IFC) at an interest
rate of less than 12 per cent, a spokesman said.
Bank NISP would decide whether or not to use the fund in the
first quarter of 2007, the bank's director Pramukti
Surjaudaja said after a public presentation here Tuesday.
Asked if Bank NISP was ready to become a national bank,
Pramukti said the bank would first increase its capital
through an IPO, rights issue and a loan.
Bank NISP would likely lower its interest rate from 15 per
cent to 14 per cent in line with an expectation that Bank
Indonesia would cut its promissory note interest rate
further to 10 per cent from 10.75 per cent later this year.
Pramukti also said Bank NISP's net profit rose by 105 per
cent to Rp171.5 billion (US$18.8 million) in the third
quarter of this year from Rp83.8 billion in the
corresponding period of last year.
He attributed the bank's improved performance to Indonesian
macro-economic growth and to an increase in net interest
income by 21 per cent to Rp638.2 billion from Rp528.4
billion as well as to a surge in non-interest earning by 29
per cent to Rp132.1 billion.
The rising funding structure, Pramukti said, was in line
with corporate efforts to increase fee-based income through
trade finance and bank assurance.
Bank NISP's net interest income was gained from rising
credit expansion by 12 per cent to Rp14.2 trillion last
September, compared to Rp12.6 trillion in the corresponding
period of last year.
The net interest income would likely reach Rp15 trillion
late this year, Pramukti said.
The Bank's capital adequacy ratio (CAR) stood at 18.10 per
cent by September 2006, much higher than 8 per cent as Bank
Indonesia had pegged at a minimum CAR of 8 per cent.
Third party funds rose by 10 per cent to Rp17.3 trillion in
September this year, an increase from Rp15.6 trillion in the
corresponding period of last year.
Bank NISP, which has 231 branch offices and more than 18,000
ATM facilities across the country, received a Straight
Through Processing (STP) 2006 award from the Bank of New
York for its high accuracy in foreign exchange transfer
transactions.
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Fitch affirms all ratings of Indonesia's BCA, BRI, Bank
Niaga
JAKARTA, November 1 (XFN-ASIA) - Fitch Ratings said it has
affirmed all the ratings of PT Bank Central Asia (BCA), PT
Bank Rakyat Indonesia (BRI) and PT Bank Niaga.
The ratings are as follows:
BCA's long-term foreign currency issuer default rating (IDR)
'BB-', short-term foreign currency rating 'B', national
long-term rating 'AA', individual 'C/D' and support '4'.
BRI's long-term foreign currency 'BB-', short-term foreign
currency rating 'B', national long-term rating 'AA+',
individual 'C/D' and support '4'.
Bank Niaga's long-term foreign currency IDR 'BB-',
individual 'D' and support '4'.
It said BCA's ratings reflect its strong financial position,
including generally good asset quality and above average
capitalisation, along with its steady earnings profile.
It said BRI's ratings reflect its strong underlying
profitability and above average asset quality, which stem
from its largely unchallenged franchise in rural
microcredit.
Meanwhile, Bank Niaga's ratings reflect its reasonably
strong profitability, with a still high level of impaired
loans mitigated by its improved capital position and its
parentage in Bumiputra-Commerce Holdings Berhad, the second-
largest banking group in Malaysia.
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Financing by Indonesia's Sharia Bank up 20.84% in 1st 9
months
JAKARTA, November 1 (Asia Pulse/Antara) - Financing by
sharia banks grew 20.84 per cent in the first nine months of
2006 to Rp19.66 trillion (US$2.18 billion) by the end of
September.
The largest parts of the fund went to the mining and trading
sectors, data at Bank Indonesia show.
In the nine months period funding in the trade sector rose
from Rp1.71 trillion by the end of 2005 to Rp2.55 trillion
by the end of September and funding in the mining sector
grew from Rp395.04 billion to Rp724.12 billion.
Financing in the small and medium enterprises sector grew
Rp3.55 trillion to Rp13.74 trillion by the end of September
and funding in the non SMEs sector grew only slightly from
Rp5.07 trillion in the nine month period to Rp5.92 trillion
by the end of September.
Sharia banks operate on Islamic rule prohibiting interest
and financing projects on profit sharing basis.
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Indonesia to phase out SOEs monopoly on managing ports,
airports and railways
JAKARTA, November 1 (XFN-ASIA) - Coordinating Minister for
the Economy Budiono said the government plans to phase out
state-owned companies' monopolies in managing ports,
airports and railways, in a bid to bring in investors and
improve efficiency in these sectors.
He said the phase-out plan is contained in new draft laws on
ports, airports and railway. The government submitted the
drafts to the lower house of Parliament recently and is
hoping to have them passed into law in early 2007.
"One important theme in these laws is the phasing out of the
monopoly power of the state-owned companies (SOEs) in
infrastructure services which we think has so far hindered
efficiency and stifled investment in these sectors, "
Budiono told a major international infrastructure conference
here.
"If the laws are passed, opportunities will open up for
private investments in ports, airports and railways," he
added.
Currently, state-owned port company PT Pelindo monopolises
ports management, withe railways controlled by PT Kereta Api
Indonesia and airports by PT Angkasa Pura.
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Indonesia hopes to hold tender for Lamongan port in Dec
JAKARTA, November 1 (XFN-ASIA) - The government hopes to
hold a tender for a contract to build the planned Lamongan
container port, in East Java province, next month
Transportation Minister Hatta Rajasa said.
"The tender of Lamongan Port could be conducted as early as
next month," Rajasa told reporters at a major infrastructure
conference here.
The cost of constructing the facility is estimated at around
600 mln usd.
He said several major investors have expressed interest in
the port, including Dubai Port and a major port operator
from the Philippines, International Container Terminal
Services Inc.
Rajasa said Lamongan container port will become an
alternative facility in East Java, since Tanjung Perak, is
already "too congested," Rajasa said.
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Malaysia's PLUS buys stake in Indonesian highway firm
KUALA LUMPUR, November 1 (AFP) -- Malaysia's largest highway
toll-operator, PLUS Expressways, has agreed to acquire a 55
percent stake in neighbouring Indonesia's toll-road company,
PT Lintas Marga Sedaya.
PLUS said in a statement to Bursa Malaysia on Wednesday said
that it has entered into a preliminary agreement with PT
Baskhara Utama Sedaya, parent of Lintas, on the planned
acquisition.
Lintas has been awarded a 35-year concession to build and
operate the 16-kilometre (9.9 miles) long Cikampek-Palimanan
highway in Jakarta.
A purchase price was not disclosed as final terms had yet to
be agreed upon, the statement read.
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Indonesia's Fajar Surya 100 mln usd bonds rated "B+" - Fitch
JAKARTA, November 1 (XFN-ASIA) - Fitch Ratings said it has
assigned a final rating of "B+" and a Recovery Rating of
"RR4" to the 100 mln usd guaranteed secured notes, due 2011,
issued by PT Fajar Surya Wisesa unit Fajar Paper Finance
B.V.
The rating action follows the completion of the notes issue
and receipt of documents conforming to information
previously received.
Fajar Surya is among the largest industrial paper
manufacturers in Indonesia with a range of products
comprising liner boards, corrugated medium paper and coated
duplex board.
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Fajar Sets $100M Bond Coupon At 10.75%
JAKARTA, November 1 (Dow Jones)--Paper packaging producer PT
Fajar Surya Wisesa (FASW.JK) set the coupon on a five-year
$100 million bond at 10.75% after closed book-building for
the bonds Tuesday, Bisnis Indonesia reported Wednesday.
The daily quoted Fajar's finance director Hadi Rebowo
Ongkowidjojo as saying that the bonds, which will be listed
in Singapore, was 1.5 times oversubscribed.
The newspaper didn't mention the bond pricing.
Deustche Bank and UOB Asia were the joint lead managers for
the issue, it reported.
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Bond issue of Indonesia's Fajar Surya oversubscribed
JAKARTA, November 1 (Asia Pulse/Antara) - A U.S. dollar
denominated bond valued at US$100 million issued by PT Fajar
Surya Wisesa has been 1.5 times oversubscribed.
Finance Director of the publicly listed packaging paper
producer Hadi Rebowo Ongkowidjojo said the five-year bond,
listed on the Singapore Stock Exchange, was offered with a
coupon rate of 10.75 per cent.
Around 30 investors dominated by fund managers from 12
countries including Asia, the United States and Europe,
bought the bonds until the issue was closed yesterday,
Rebowo told the newspaper Bisnis Indonesia.
He said the bond fund will be used to repay a syndicated
loan of US$72 million and a short term debt in U.S. dollar.
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Indonesia hopes to benefit from strong pulp and paper market
JAKARTA, November 1 (Asia Pulse/Antara) - Indonesia hopes to
boost exports of pulp and paper taking advantage of good
market and shrinking supply from major producing countries.
Closure of a number of pulp and paper factories in North
America and Europe has caused a scarcity in supply,
resulting in a surge in prices of the two commodities.
Chairman of the association of pulp and paper producers
(APKI) M. Mansyur said many factories in the two regions
decided to stop operation because of scarcity of raw
material and rising labor cost.
Now South American countries - Brazil, Uruguay and Chile -
have become major suppliers of pulp to the world market,
long dominated by North American and Scandinavian countries.
A number of pulp producers have moved their factories to
South America, Mansyur said.
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Indonesia's Kimia Farma reports sharp fall in net profit
JAKARTA, November 1 (Asia Pulse/Antara) - State-owned
pharmaceutical company PT Kimia Farma posted Rp18.198
billion (US$2 million) in net profit in the first nine
months of this year down from Rp27.124 billion in the same
period last year despite an increase in sales.
Company president Gunawan Pranoto said the company reported
sales at Rp1,349 billion, up from Rp1,144 billion in the
same period.
Gunawan acknowledged a decline in the company's performance
marked with a fall in its operating profit to Rp32.255
billion from Rp42.82 billion.
He attributed the poorer performance to swelling operating
cost to Rp362.018 billion from Rp325.849 billion.
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Indonesia's Bakrie & Bros 9-mth net profit 158.99 bln rupiah
vs 504.03 bln
JAKARTA, November 1 (XFN-ASIA) - Diversified conglomerate PT
Bakrie & Brothers' nine months to September results:
Sales - 3.42 trln rupiah vs 1.91 trln Operating profit -
520.86 bln rupiah vs 159.98 bln Net other charges - 115.05
bln rupiah vs 348.85 bln Net profit pre-extras - 250.53 bln
rupiah vs loss 433.04 bln Extraordinary gain - nil vs 949.65
bln Net profit - 158.99 bln rupiah vs 504.03 bln Earnings
per share - 5.89 rupiah vs 41.78
The company said it restated the previous year's figures to
conform with a revised accounting treatment on employee
benefits. The comparative net profit after exceptional items
was previously reported as 479.43 bln rupiah.
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Indonesia's HM Sampoerna 9 mths net profit 3.0 trln rupiah
vs 2.41 trln
JAKARTA, November 1 (XFN-ASIA) - Cigarette maker PT HM
Sampoerna, a 98 pct-owned subsidiary of PT Philip Morris
Indonesia, nine months to September results:
Sales - 22.75 trln rupiah vs 18.09 trln Operating profit -
4.22 trln rupiah vs 3.49 trln Net profit - 3.0 trln rupiah
vs 2.41 trln Earnings per share - 685 rupiah vs 549
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Indonesia Indocement 9-Mo Net IDR 557.84B Vs IDR538.27B
JAKARTA, November 1 (Dow Jones)--Indonesian cement maker PT
Indocement Tunggal Prakarsa (INTP.JK) said Wednesday its net
profit rose 3.6% on year in the January-September period.
Net profit for the period rose to IDR557.84 billion from
IDR538.27 billion a year earlier, a statement posted on the
company's Web site indicated.
Indocement is the nation's second-largest cement maker by
output, and is 65.14%-owned by Germany's HeidelbergCement AG
(HEI.XE).
The company recorded a 16% on-year increase in sales revenue
to IDR4.82 trillion in the nine-month period compared with
IDR4.17 trillion in same period in 2005.
Indocement's earnings per share rose to IDR151.54 from
IDR146.22 a year ago.
The statement didn't provide any comment on Indocement's
earnings.
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Indonesia's Matahari Q3 net profit 36.6 bln rupiah vs 31.9
bln in Q2
JAKARTA, November 1 (XFN-ASIA) - Retailer PT Matahari Putra
Prima's third quarter to September results compared with
second-quarter figures:
Sales - 2.18 trln rupiah vs 1.80 tlrn Operating profit -
83.1 bln rupiah vs 54.2 bln EBITDA - 171.6 bln rupiah vs
160.1 bln Net profit - 36.6 bln rupiah vs 31.9 bln
Nine months to September results versus year-ago figures:
Sales - 5.66 trln rupiah vs 4.52 trln
Operating profit - 195.6 bln rupiah vs 146.1 bln EBITDA -
464.8 bln rupiah vs 353.6 bln Net profit - 80.7 bln rupiah
vs 70.1 bln
Matahari said the net profit figure for the first nine
months of 2005 did not include the one-off gain of 70.1 bln
rupiah from the divestment of its stake in PT Hero
Supermarket. The company did not provide figures for the
third quarter of last year.
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Indonesia's Lippo Karawaci 9 mths net profit 227.54 bln
rupiah vs 278.50 bln
JAKARTA, November 1 (XFN-ASIA) - Property developer PT Lippo
Karawaci nine months to September results:
Sales - 1.39 trln rupiah vs 1.50 trln Operating profit -
323.61 bln rupiah vs 437.58 bln Net profit - 227.54 bln
rupiah vs 278.50 bln Earnings per share - 38.79 rupiah vs
48.33
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Indonesia to follow Thailand in marketing horticultural
products
JAKARTA, November 1 (Asia Pulse/Antara) - Indonesia will try
to follow Thailand in its efforts to promote its
horticultural products on the international market,
Agriculture Minister Anton Apriyanto said here on Tuesday.
He said as the biggest producer of horticultural products
such as fruits and vegetables in Southeast Asia, Thailand
had a vast marketing network and "we will therefore try to
embrace it in an effort to enter its marketing network."
The minister made these remarks shortly before leaving for
Thailand to attend the "Royal Flora Ratchphruek 2006".
The largest known floral exhibition to mark King Bhumibol
Adulyadej's birthday will last from November 1 to January
31. Indonesia also takes part in the event.
He said cooperation with members of the Association of
Southeast Asian Nations (Asean) in the agricultural field
was not new for Indonesia as it had been cooperating with
Malaysia in oil palm plantation development.
He said success in the cooperation with Malaysia had
encouraged Indonesia to cooperate with Thailand in the
horticultural sector.
"We are aware that we will not be able to catch up with
Thailand in this sector, and therefore we only wish to
benefit from that country's marketing network," he said.
Besides attending the exhibition the minister would also
conduct talks with Thai officials on cooperation in the
field of agriculture.
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New fishing law brings foreign investors back to Indonesia
JAKARTA, October 31 (Asia Pulse/Antara) - Foreign fishing
companies are beginning to show interest in restarting
ventures in Indonesia due to a new regulation banning
exports of fresh fish.
At least 11 foreign fishing companies have proposed to
invest a total of US$132.84 million in the fishery sector to
operate in sea fishing and fish processing industry in the
country.
The 11 investors come from Thailand, China, Singapore, the
Philippines and Australia, an executive of the maritime and
fisheries ministry, Sunoto said Monday.
They propose to operate in Tual of South Sulawesi, Bitung of
North Sulawesi, Ben Jina of Papua, Merauke of southern Papua
and Muara Baru of Jakarta, Sunoto said.
The government has refused to renew old fishing licenses,
which gave investors greater freedom to operate in the
country.
Under the new regulation, a fishing company is required to
have a fish processing factory in the country and ban them
from exporting fresh fish.
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Indonesia's CPO exports predicted to fall short of target
JAKARTA, November 1 (Asia Pulse/Antara) - Indonesia's
exports of crude palm oil (CPO) is predicted to fall below
target in 2007 on larger supply to bio-diesel industry in
the country.
Exports are estimated to reach only 11.7 million tons, up
from 11.3 million tons estimated for this year, but falling
short of the target of 12.75 million tons set previously for
next year, the association of palm oil companies (Gapki)
said.
Gapki chairman Derom Bangun said around 650,000 tons of CPO
production will be cut from exports to feed growing bio-
diesel industry.
Bangun estimated that the country's production of CPO this
year will reach 16.35 million tons or an increase of 9 per
cent from last year.
Part of the production will be used to feed cooking oil and
bio-diesel industries leaving only 11.3 million tons for
exports, he said.
He said a number of new bio-diesel factories will come on
line toward the end of this year using 100,000 tons of CPO.
Now the country has only one large bio-diesel factory, which
is a modification from chemical factory in East Java.
The government has encouraged development of bio-diesel
industry to produce fuel substitute to reduce consumption of
more expensive oil fuel.
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Indonesian palm oil down on thin demand
JAKARTA, November 1 (Reuters) - Indonesian palm oil prices
were mostly lower in thin trade on Wednesday as limited
demand put pressure on the market, traders said.
In North Sumatra's Medan, the main port for palm oil
exports, crude palm oil traded between 4,458 and 4,477
rupiah ($0.489-0.492) per kg compared with 4,457-4,582 on
Tuesday.
"Trading is slow despite gains in Malaysia. It seems players
are still waiting for more certain direction whether it (the
gain) will sustain or not," a Medan-based trader said.
Lack of support also put pressure on the state marketing
centre in Jakarta which held no auction on Wednesday.
The benchmark January contract <KPOF7> on the Bursa Malaysia
Derivatives was up 14 ringgit at 1,675 ringgit ($459) a
tonne at the end of the morning session. The gain came after
it slipped 2.2 percent on Tuesday.
Slack trading interest suppressed the cooking oil market in
Jakarta, with olein trading flat at 4,900 rupiah a kg on
Wednesday.
On the exports front, crude palm oil was offered down at
$455 a tonne for November shipment, free on board Belawan,
while bids were set at $450.
Sellers were offering December shipment at $460 a tonne with
bids seen at $455.
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Joyo Indonesia News Service
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