[Kabar-indonesia] 22 Biz/Econ Reports: ADB Plans Rupiah-Linked Bond; Asian Crisis Unlikely: S&P

[JoyoNews at aol.com]

22 Reports:

- ADB Plans Rupiah-Linked Bond 
- S&P says another Asian financial 
  crisis unlikely
- Indonesia to import 210,000
  tonnes of rice by Nov
- Indonesia sells some Permata
  stake to Stanchart
- Indonesia BTN Gets IDR1.3T Bids
  For IDR1T 10-Yr Bonds
- Indonesia's international reserves
  rise to $42 bln
- Indonesia's govt owned Cos post 25%
  rise in average H1 net pfts
- Indonesia to amend 217 tariff regulations
  for ASEAN members
- Raylight Investment buys 322.55 mln 
  Indonesia
  Pakuwon Jati shares from Burgami
- Indonesia Pakuwon Jati assigned 'B'
  long-term foreign currency rating - Fitch
- Indonesia Air Transport To Sell 432M
  Shares In Sep 5 IPO
- Indonesia's domestic air passenger
  increases by 13.5% in July
- Indonesia's Total Bangun Persada
  reports 45% rise in H1 net pft
- Singapore's UOB offers additional loan
  to Indonesia's TPPI
- Indonesia's Asahimas Flat Glass reports
  90% drop in yr net pft
- Indonesia's Asahimas to sell 2 warehouses
  for 25 bln rupiah
- Singapore govt raises stake in Indonesia's
  Budi Acid to 19.21 pct
- 85% of rubber plant in Indonesia needs
  replanting: Expert
- Indonesia's RNI exploring cooperation with
  Cuban sugar industry
- Taiwan Sugar to invest 7 trln rupiah to
  relocate plants to Indonesia - report
- Indian investments invited to Indonesia's
  Riau Province
- Indonesia palm oil falls on Malaysia,
  seen firmer

Dow Jones Newswires
Wednesday, September 6, 2006

Rupiah-Linked Bond Planned

By SAI MAN

HONG KONG -- The Asian Development Bank said it hopes to launch its first 
local-currency bond in Indonesia soon.

"We are looking at the possibility in Indonesia" of issuing a 
rupiah-denominated bond, bank Vice President Lawrence Greenwood said in an interview.

The bond would follow recent issues by the multilateral development agency 
elsewhere in Asia, including China, India and the Philippines, Mr. Greenwood 
said. The funds would be used to finance development projects in Indonesia, 
he said. Among its projects, the Asian Development Bank is looking at toll 
roads and a "very large water project."

While in the past the bank has swapped the local currency from bond issues 
back into U.S. dollars, its perspective is changing, he said. "Just this 
year, as 
a matter of policy, we're looking at opportunities to lend more in local 
currency," 
he said.

Mr. Greenwood declined to say how big the bond issue would be, or specific 
terms of the deal. The planned rupiah bond would help encourage the 
development 
of Indonesia's debt market, he said.

Indonesia had one of the most active bond markets in Asia before the 1997-98 
Asian financial crisis brought activity to an abrupt halt, as foreign debt 
obligations ballooned after the local currency went into free-fall. But the 
country's bond market has been slowly recovering in recent years.

------------------------------

S&P says another Asian financial crisis unlikely

HONG KONG, September 5 (Reuters) - Asian states are better placed to
withstand the pressures that led to the 1997/98 Asian financial
crisis, Standard & Poor's said on Tuesday, but rising government and
corporate debt, mainly in domestic currencies, are a concern.

The global rating agency also said it expected China to make further

efforts to cool its booming economy through more monetary tightening
and allowing an appreciation of the yuan.

"Today most corporates have reduced their foreign currency debt
exposure and most sovereigns have improved their external position,"
Terry Chan, director and credit officer for Asia Pacific at S&P, told
a news conference in Hong Kong.

The 1997/98 economic meltdown led to a flight of capital, with stock
markets plunging, asset prices falling and several Asian economies
spinning into recession. Thailand, Indonesia, South Korea and Malaysia
were particularly hit hard.

Since then, many Asian countries have cut foreign currency debt
exposure or adopted hedging policies against exchange risk, the global
rating agency said.

For example, Indonesia's foreign currency debt to gross domestic
product (GDP) stood at 47 percent at the end of 2005, compared with 54
percent at the end of 1996.

Thailand's foreign currency debt to GDP was down to 31 percent at the
end of 2005 from 60 percent at the end of 1996.

"This favourable position reduces the risk of the sudden withdrawal of
foreign currency funds leading to pressure on domestic exchange rates
as in the case of the 1997 crisis," it said in a report entitled Asia
1997 Retrospective.

But S&P said it was concerned about the increase in overall leveraging
by Asian governments and companies.

"As a share of GDP, general government indebtedness of all 10
sovereigns is higher than it was a decade ago," the report said.

"Weaker sovereign credit profiles raise concerns that these sovereigns
have reduced financial flexibility should a financial or banking
crisis, however unlikely, eventuate."

U.S. SLOWDOWN

It said in a separate report that Asia faced tougher global conditions ahead.

"We do see global conditions still largely supportive of Asian
economies, although conditions are a little less benign than in the
beginning of the year," said Ping Chew, director of S&P's sovereign
and financial services ratings.

The rating agency expected growth in the U.S. economy to slow to 2.3
percent in 2007 from 3.4 percent in 2006. The United States is Asia's
biggest export market.

In addition to a likely U.S. slowdown, high oil prices and the
"elevated interest rate environment" were a threat to growth in Asia,
Chew said.

"With the weaker economic outlook, the upgrade momentum will slow
compared with the last 30 months," he added, referring to credit
ratings.

Chew said China would allow the yuan to appreciate as part of its
measures to rein in the economy.

China raised interest rates on Aug. 18 for the second time in four
months. It has also twice increased banks' required reserves in a bid
to slow economic growth that raced along at 10.9 percent in the first
half of this year.

"We predict a 3 to 5 percent appreciation for the full-year 2006," he
said, adding that was just an assumption.

The yuan has appreciated a further 2.11 percent since it was revalued 
by 2.1 percent to 8.11 per dollar on July 21, 2005, and freed from a dollar 
peg to float within managed bands.

---------------------------------

Indonesia to import 210,000 tonnes of rice by Nov

JAKARTA, September 5 (Reuters) - Indonesia has issued a permit to
state logistics agency Bulog to import 210,000 tonnes of rice for
delivery between October and November to help secure stocks, the trade
ministry said on Tuesday.

Indonesia says rice imports are needed to maintain the government's
stocks that have fallen to 350,000 tonnes, well below the safety level
of 1 million tonnes, due to a string of natural disasters.

"The import permit was issued on Sept. 4 for Bulog to import 210,000
tonnes of 15 percent broken grade rice," the trade ministry said in a
statement.

The statement said the imports will be through an open tender with
delivery expected between Oct. 1 and Nov. 15.

"The rice imports will only be used for emergency purposes and to
stabilise prices," the statement said.

Rice imports are allowed if the government's stocks in Bulog fall
below the safety level of 1 million tonnes or local prices of medium
grade rice rise above 3,550 rupiah ($0.391) per kilogram.

The imported grain cannot be sold for public consumption but is set
aside as a buffer stock to curb inflation.

At the moment, local prices for medium grade rice at the distributor
level are between 3,800 and 4,000 rupiah per kg.

The statement said the rice, a staple for the country's 220 million
people, will enter Indonesia through 10 ports from Lhokseumawe in Aceh
province to Jayapura on Papua island.

Last September, Bulog was allowed to import up to 250,000 tonnes of
rice from Vietnam, but the agency only bought some 152,000 tonnes.

---------------------------------------------------------

Indonesia sells some Permata stake to Stanchart

JAKARTA, September 5 (Reuters) - The Indonesian government sold its
25.9 stake in the country's seventh largest lender, PT Bank Permata ,
as part of an asset sales drive aimed at raising funds to plug the
budget deficit.

The state asset management company, PT Perusahaan Pengelola Aset
(PPA), said in a statement it sold the stake at 875 rupiah per share,
raising a total of 1.76 trillion rupiah ($193.9 million).

It said the buyers included Asia-focused Standard Chartered Bank and
Indonesia's automotive giant Astra International , both existing
shareholders in the bank.

The Jakarta stock exchange halted trading in Permata shares on Tuesday
due to the government's stake sale plan. Permata shares jumped 3.9
percent on Monday to 790 rupiah, outpacing the 1.7 percent rise in the
Jakarta index <.JKSE>.

Indonesia expects to raise funds from such asset sales to help recover
part of around 650 trillion rupiah ($71.60 billion) worth of bonds
issued to bail out banks after the Asian financial crisis of
1997-1998.

It also expects to use the funds to plug the state budget deficit
forecast at 0.7 percent of gross domestic product in the existing
state budget.

The asset sale programme, however, has moved in fits and starts
because many politicians and members of the public see privatisation
as selling off the family silver cheaply.

Since President Susilo Bambang Yudhoyono came to power about two years
ago, there have been no big stake sales.

--------------------------------------------------------

Indonesia BTN Gets IDR1.3T Bids For IDR1T 10-Yr Bonds

JAKARTA, September 4 (Dow Jones)--State-owned PT Bank Tabungan Negara,
or BTN, received IDR1.3 trillion in bids for its IDR1 trillion 10-year
bonds, a banker familiar with the offering said Monday.

The banker, who declined to be named, said the mortgage bank has
decided on a 12.75% coupon for the bonds, in the upper end of the
12.05%-13.05% range it indicated previously.

BTN officials were not immediately available for comment.

The bank will pay the coupon quarterly, and use the proceeds to
finance housing projects across the country.

PT Mandiri Sekuritas and PT Standard Chartered Securities Indonesia
are the co-lead underwriters for the offering.

---------------------------------------------------------

Indonesia's international reserves rise to $42 bln

JAKARTA, September 5 (Reuters) - Indonesia's international reserves
rose to $42.00 billion at the end of August from $41.13 billion at the
end of July, central bank data showed on Tuesday.

Bank Indonesia said on its Web site ( www.bi.go.id ) base money fell
to 250.05 trillion rupiah ($27.53 billion) at the end of last month
from 251.14 trillion in the previous month.

The figures below are in trillions of rupiah, except for international
reserves, which are in billions of dollars.

                                                 August 31     July 31
Base money                               250.05         251.14
Net domestic assets                      -3.43             7.41
Net claims on government         219.38        215.70
International reserves                   42.00          41.13

--------------------------------------------------------

Indonesia's govt owned Cos post 25% rise in average H1 net pfts

JAKARTA, September 5 (Asia Pulse/Antara) - State-owned companies
reported a 24.83 per cent increase in net profit on average in the
first half of this year compared with the same period last year.

Said Didu, secretary of the office of the state minister for state
enterprises, said less interference by the government and
implementation of corporate goods governance have improved the
performance of state companies.

"I am confident the government's earnings in net profits from state
companies will exceed the target of Rp16.18 trillion (US$1.8 billion)
set by the government for 2007," Didu said.

In 2006, the government's income in dividends from state companies
totaled Rp16.3 trillion, not including interim dividends from state
oil and gas company Pertamina.

---------------------------------------------------------

Indonesia to amend 217 tariff regulations fro ASEAN members

JAKARTA, September 4 (Asia Pulse/Antara) - Indonesia is expected to
scrap or amend at least 217 regulations put in the Red Box, the
category for non tariff barrier hampering trade among Asean member
countries.

Indonesia is expected to finish abolishing or amending the regulations
in 2015 in line with the regional agreement to scrap non tariff
barriers.

Deddy Saleh, regional cooperation director at the International Trade
Cooperation Directorate General, said Indonesia has the largest number
of regulations put in the Red Box category.

He said sugar trade regulations were among the those cited by the
Asean secretary general that had to be amended or scrapped.

The removal of non tariff barriers is a step toward the establishment
of a single Asean market.

---------------------------------------------------------

Raylight Investment buys 322.55 mln Indonesia Pakuwon Jati shares from Burgami

JAKARTA, September 4 (XFN-ASIA) - Singapore-based, Raylight
Investments ltd, said it has acquired Burgami Investments Ltd stake in
PT Pakuwon Jati for 18.13 mln usd.

"Raylight Investments Ltd has agreed to buy Burgami's 322.55 mln
shares in PT Pakuwon Jati, for a total amount of 18.13 mln usd,
equivalent to 167.73 bln rupiah," director Koh Kian Tee said in a
letter to the Jakarta Stock Exchange.

Tee added the shares are currently subject to a lock up period and
cannot be transfered until the period expires on August 23, 2007.

In late morning trade, Pakuwon shares were unchanged at 480 rupiah.

--------------------------------------------------------

Indonesia Pakuwon Jati assigned 'B' long-term foreign currency rating - Fitch

JAKARTA, September 5 (XFN-ASIA) - - Fitch Ratings said it has assigned
a long-term foreign currency and local currency issuer default rating
of 'B' and a national long-term rating of BBB minus (idn) to property
developer PT Pakuwon Jati.

The outlook for the ratings is 'stable', it said.

It also assigned an expected rating of 'B' with a recovery rating of
'RR4' to the 120-mln usd senior unsecured notes due 2011 to be issued
by the company's subsidiary Pakuwon Jati Finance B.V.

The notes will be guaranteed by Pakuwon Jati.

"The stable outlook reflects Fitch's expectation that Pakuwon will
continue to generate positive operating cash flows from Tunjungan (a
mixed-used development in the central business district of Surabaya)
maintaining its leverage ratio at 2005 levels," the ratings agency
said.

Fitch said Pakuwon's ratings are supported by its position as a
leading township developer and mall operator in Surabaya.

Given its dominant market position, the mall, with its above-market
occupancy rates, is expected to continue to contribute a strong
predictable recurring cash-flow to Pakuwon, Fitch said.

It said the ratings are constrained by the project risks arising from
one major greenfield project, super block Gandaria, a 7.5 hectares
mixed-used development to be built between 2006-2009 in South Jakarta,
at the cost of around 1.7 trln rupiah.

The ratings agency said the company is exposed to the volatility in
the Jakarta real estate market, where there is an apparent oversupply
in the office and condominium segments.

"Pakuwon's ratings also reflect the low interest coverage ratio
expected between 2006 and 2007 while Gandaria is being developed," it
said.

--------------------------------------------------------

Indonesia Air Transport To Sell 432M Shares In Sep 5 IPO

JAKARTA, September 4 (Dow Jones)--PT Indonesia Air Transport said
Monday it plans to sell 432 million common shares priced at IDR130
each in an initial public offering between Sept. 5 and Sept. 7 to
raise IDR56.2 billion ($6 million).

The air charter and helicopter services company said it will use 70%
of the proceeds from the IPO as downpayment for purchases of fixed
wing airplanes or helicopters, 25% for debt repayment and 5% for
working capital.

Bhakti Securities is the underwriter.

The company had IDR15.12 billion in net profit in 2005, compared with
IDR10.3.4 billion in losses a year earlier. It had assets of IDR405.44
billion as of Dec. 31, 2005, compared with IDR436.27 billion a year
earlier.

--------------------------------------------------------

Indonesia's domestic air passenger increases by 13.5% in July

JAKARTA, September 4 (Asia Pulse/Antara) - The number of domestic air
passengers in Indonesia rose 13.5 per cent in July, 2006 to 2.75
million from 2.42 million in the previous month, the Central Bureau Of
Statistics (CBS) said.

CBS chief Rusman Heriawan said July is a peak season for air transport
because of school holidays.

An increase was recorded by almost all airports with Bali's Ngurah Rai
leading with a growth of 23.7 per cent, Rusman said.

Other major airports recording a high increase included Makassar's
Hasanuddin by 18.8 per cent and Jakarta's Soekarno Hata airport by
17.2 per cent.

Soekarno Hatta led in the number of passengers totaling 1.09 million
or 42.1 per cent of the total number of domestic passengers.

In the first seven months of this year the number of domestic air
passengers totaled 16.72 million or an increase of 12 per cent from
the same period last year.

---------------------------------------------------------

Indonesia's Total Bangun Persada reports 45% rise in H1 net pft

JAKARTA, September 5 (Asia Pulse/Antara) - Publicly listed
construction company PT Total Bangun Persada (TBP) (JSX:TOTL) chalked
up Rp50.83 billion (US$5.65 million) in net profit in the first half
of his year, an increase of 44.6 per cent from the same period last
year.

With these results, the TBP is confident it will hit its net profit
target of Rp105 billion for the whole year, company commissioner
Michael V. Haribowo said.

Haribowo said the company has 20 new projects valued at Rp717 billion,
none of which will begin construction until after this year.

He said the success of the company was partly attributable to the fact
that it is not burdened with debt like many other construction
companies, adding TBP has a bank debt of only Rp5 billion.

---------------------------------------------------------

Singapore's UOB offers additional loan to Indonesia's TPPI

JAKARTA, September 4 (Asia Pulse/Antara) - A consortium of United
Overseas Bank (UOB) of Singapore is discussing possible additional
investment in PT Trans Pacific Petrochemical Indotama (TPPI) in Tuban.

TPPI needs a loan of US$350 million for working capital. Earlier UOB
already provided a loan of S$90 million for the company, which is
controlled by the state-owned asset management company PT Perusahaan
Pengelola Aset (PPA) in the form of letter of credit.

PPA corporate secretary Renny O. Rorong said a number of other banks
have offered loans for working capital.

The aromatic center started operations in March 2006, producing
upstream petrochemical products such as light naphtha and paraxylene.

----------------------------------------------------------

Indonesia's Asahimas Flat Glass reports 90% drop in yr net pft

JAKARTA, September 5 (Asia Pulse/Antara) - The net profit of publicly
listed PT Asahimas Flat Glass (JSX:AMFG) shrank by 90.44 per cent to
Rp13 billion (US$1.44 million) in the first half of this year compared
with the same period last year on shrinking sales.

Total sales dropped in the first half of this year especially domestic
sales which shrank by 30 per cent, company Director Takashi Nomura
said.

Net sales totaled Rp741 billion or 12 per cent down, Nomura said in a
report to the Jakarta Stock Exchange.

The decline in domestic sales was caused mainly by weak demand from
the automotive sector.

Exports rose seven per cent but not enough to offset the decline in
sales on the domestic market, Nomura said.

---------------------------------------------------------

Indonesia's Asahimas to sell 2 warehouses for 25 bln rupiah

JAKARTA, September 5 (XFN-ASIA) - PT Asahimas Flat Glass, a 43.85
pct-owned unit of Japan's Asahi Glass Co Ltd, is planning to sell two
warehouses for about 25 bln rupiah, investors relations head Rusli
Pranadi said.

He told XFN Asia that the company may also sell some other
unproductive assets such as apartment units bought for expatriate
staff, as sales and and profitability have been hurt as a result of
the firm's inability to pass on rising costs to consumers in the
current weak market environment.

The two warehouses are located in Surabaya (East Java) and Solo (Central 
Java).

Pranadi noted that because of weakness in the automotive business and
rising costs, the company's full year sales and net profit are both
expected to fall.

---------------------------------------------------------

Singapore govt raises stake in Indonesia's Budi Acid to 19.21 pct

JAKARTA, September 5 (XFN-ASIA) - The Government of Singapore
Investment Corp (GSIC) has raised its stake in PT Budi Acid Jaya to
19.21 pct from 9.47 pct after buying an additional 120 mln shares on
Aug 30, Standard Chartered Bank said in a statement to the stock
exchange.

Standard Chartered did not disclose who the sellers were.

Before the transaction, GSIC was the fourth largest shareholder of
Budi Acid, while PT Budi Sulfat Jaya was the biggest shareholder with
a 19.73 pct stake.

Budi Acid is an integrated manufacturer of cassava-based citric acid,
modified tapioca starch and monosodium glutamate (MSG).

---------------------------------------------------------

85% of rubber plant in Indonesia needs replanting: Expert

JAKARTA, September 5 (Asia Pulse/Antara) - Around 85 per cent of the
country's rubber plantations need replanting as the trees have been
too old and less productive.

Most of the trees are more than 50 years old, head of the Sungei Putih
Rubber Research Center in North Sumatra Karyudi said Monday.

A plantation with trees older than 25 years will need replanting, Karyudi 
said.

Old trees are found mainly in smallholders' plantations, which
currently produce only 600kg-800kg per hectare a year as against
maximum productivity of 2,000 kg a year, he said.

Smallholders' plantations make up 85 per cent of the country's rubber
plantations of 3.2 million hectares.

---------------------------------------------------------

Indonesia's RNI exploring cooperation with Cuban sugar industry

JAKARTA, September 5 (Asia Pulse/Antara) - PT Rajawali Nusantra
Indonesia (RNI) is exploring the possibility of investment and
technological cooperation with the Cuban sugar industry through the
country's embassy in Indonesia, RNI spokesman Agung Murdanoto said
here on Sunday.

He said the cooperation was part of efforts to develop and accelerate
the revitalization of the sugar industry in Indonesia.

"The initiative to explore the possibility of cooperation with the
Cuban sugar industry came up in a meeting between PT RNI President
Director Rama Prihandana and Cuban Ambassador to Indonesia Jorge Leon
when the latter visited the Madukismo sugar plant in Yogyakarta on
Saturday," Agung Murdanoto said.

During the meeting, Rama Prihandana said the cooperation plan was
based on a consideration that a number of problems related to sugar
production and national sugar demand had not been solved, while in
reality, Indonesia had the potential to become a leading sugar
producing country because of its suitable soil for sugar cane
planting.

In a discussion on the sidelines of the visit to the Madukismo sugar
plant, the RNI and Cuban sides agreed to cooperate in their bid to
increase the productivity of the sugar industry in Indonesia.

Rama Prihandana added that if the cooperation with the Cuban sugar
industry materialized, it would be possible to meet national sugar
demand with home-produce sugar.

----------------------------------------------------------

Taiwan Sugar to invest 7 trln rupiah to relocate plants to Indonesia - report

JAKARTA, September 5 (XFN-ASIA) - Taiwan Sugar Corpn (TSC) is planning
to relocate its sugar plants to Indonesia's South Sulawesi province
for a total investment of about 7 trln rupiah, Bisnis Indonesia
reported.

"I hope the relocation can be realized as soon as possible. At least
one plant should have been built before the yearend," Bisnis quoted
Taiwan Sugar chairperson Cheng Hsieh Yu as saying.

The report said Taiwan Sugar will cooperate with state-owned
plantation firm PT Perkebunan Nusantara XIV.

---------------------------------------------------------

Indian investments invited to Indonesia's Riau Province

NEW DELHI, September 5 (Asia Pulse/PTI) - Indonesia's Riau Province on
Monday said India's expertise and investment can be employed in
building infrastructure in the province, considered as Indonesia's FDI
destination.

"With India's steady economy, world-class technological know-how, we
are expecting our counterparts from India to work together in a
complementary and mutually-beneficial framework," Promotion and
Investment Board of Riau Province Chairperson Tiolina Pangaribuan said
on Monday.

She was speaking at the Trade and Investment Forum with Indonesia -
'Special Focus on Riau Province' - organised by chamber body FICCI
here.

Investments can be made especially in the area of toll-road
construction, electricity generation, seaports and development of
industrial parks, she added.

The diverse natural resources of high economic value, strategic
location, proximity to Singapore and new growth centres are factors
that would make it viable for India to do business with us, she said.

With a view to creating incentives for private investment, a new
investment law has been proposed to Indonesian Parliament, that seeks
to integrate the country's domestic and foreign investment laws,
including simplification of the current 150 days investment permit
process to a one-stop, 30 days registration, Indonesian ambassador to
India Donnilo Anwar said. (PTI)

----------------------------------------------------------

Indonesia palm oil falls on Malaysia, seen firmer

JAKARTA, September 5 (Reuters) - Indonesian palm oil prices traded
lower on Tuesday, dragged down by losses in Malaysian palm oil
futures.

But traders said local demand is expected to increase in the days
ahead as Indonesia will enter the Ramadan festival period at the end
of the month when consumption normally increases, traders said.

In North Sumatra's Medan, the main port for palm oil exports, crude
palm oil quoted lower at 4,276 rupiah ($0.471), 4,271 rupiah and 4,264
rupiah per kg in three different lots on Tuesday, compared with 4,295
rupiah on Friday.

There were no auction in Medan on Monday.

"Players are starting to return to the market because of signs of
increasing demand from local refineries," a Medan-based trader said.

Losses in Malaysia also put presure on the exports auction at the
state marketing centre in Jakarta, that failled to sell 3,000 tonnes
of crude palm oil due to low bids.

The centre offered crude palm oil at $442.5 a tonne, but bids were
seen at $435 a tonne.

"I see a shifting in the market, sellers sold more palm oil to the
local market because local prices are more attractive compared with
export prices," a Medan-based trader said.

Thin overseas demand put some presure on cooking oil prices. In
Jakarta, olein was traded lower at 4,850 rupiah on Tuesday from 4,900
rupiah per kg on Monday.

"The market has been very quiet for sometime now, because demand from
overseas markets is declining as some major buyers like China still
have ample stocks," a Jakarta-based trader said.

On the exports front, sellers offered crude palm oil for September
shipments at $435 a tonne, with bids seen at $430.

October shipments quoted at $432.5 a tonne, with no bids reported.

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Joyo Indonesia News Service
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