[Kabar-indonesia] 19 RI Biz/Econ Reports: Govt Bonds; Stable Rupiah; Bakrie; Indomobil [+JSX Up]

[JoyoNews at aol.com]

19 Reports:

- Indonesia Govt Issues IDR2.14T 
  Bonds (US$237m); Avg Yield 
  11.17%
- Indonesia Aug Motorcycles Sales 
  Up 19% On Mo To 440,288
- Rupiah likely to remain stable vs
  US dollar: consumer survey
- Bakrie Sumatra plans new oil 
  palm and rubber plantations
- Indonesian Shares End Higher 
  Led By Telkom On Sales Hopes
- Indonesia Rupiah Ends Down; 
  Bond  Issue Limits Rupiah Fall
- World Bank financing arm to 
  invest in over 10 Indonesian banks
- Update/Interview: Indomobil To 
  Export China's Chery QQ In 2007
- Islamic bank must respond to global 
  challenges, Habibie says 
- Singapore Nonoil Exports Fall Short 
  of Expectations
- Stock alert - Indonesia's Astra Intl 
  higher on stronger Aug motorcycle 
  sales
- Stockwatch - Indonesia's Ramayana 
  up on expected rebound in consumer 
  spending
- Indonesia revises down growth target 
  for manufacturing sector
- Dirgantara Indonesia needs US$75 
  mln to build aircraft until 2025
- Holcim Indonesia swings to profit 
  in H1 on forex gains
- Wijaya Karya targets $37 mln 
  from IPO
- Indonesia's Mitra Adiperkasa 
  opens TopShop, TopMan, Miss 
  Selfridge outlets
- Indonesia crude palm oil prices 
  mixed, sellers return
- Sulawesi cocoa bean production 
  increased to 300,000 tons

Indonesia Govt Issues IDR2.14T Bonds (US$237m); Avg Yield 11.17%

JAKARTA, September 19 (Dow Jones)--The Indonesian government 
Tuesday issued IDR2.14 trillion (US$237m) worth of bonds maturing 
in 2025 at a weighted average yield of 11.17%, an official said.

The government received IDR8.03 trillion in bids, Rahmat Waluyanto,
head of the finance ministry's debt management unit, told Dow Jones
Newswires.

The bond issuance is part of measures to help finance the deficit in
the state budget.

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Indonesia Aug Motorcycles Sales Up 19% On Mo To 440,288

JAKARTA, September 19 (Dow Jones)--Sales of new motorcycles in
Indonesia rose 19% on month to 440,288 units in August from 370,347 
in July, industry association Gaikindo said Tuesday.

However, in the first eight months of the year, new motorcycle sales
fell 24% on year to 2.26 million units from 3.43 million, Gaikindo
said.

Gaikindo didn't provide a reason for the decrease in sales for the
eight-month period, but analysts attributed it to an increase in
interest rates and high fuel prices.

Market leader PT Astra International (ASII.JK), 50.12%-owned by
Singapore's Jardine Cycle & Carriage Ltd. (C07.SG), said it sold 1.34
million motorcycles in the January to August period, down 5% from 1.41
million units a year ago.

At the end of August 2006, Astra had a 55% share of the domestic
motorcycle market.

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Rupiah likely to remain stable vs US dollar: consumer survey

JAKARTA, September 19 (Asia Pulse/Antara) - The rupiah's exchange 
rate against the US dollar is likely to remain stable in the next six
months, according to a consumer survey conducted by Bank Indonesia.

This view was held by the majority or 44.1 per cent of the respondents
in the survey in August this year, the central bank said.

The net balance of the exchange rate will also remain stable at an
index of 99.9 per cent, higher than 99.5 per cent, as showed by a
previous survey carried out in July, the central bank said in a
statement released to ANTARA here Monday.

The result of the survey said 27.8 per cent of the respondents
expected that the rupiah exchange rate against the greenback will
rebound while 28 per cent of the respondents predicted the rupiah's
exchange rate to decline.

The report also showed possible commodity price hikes in the next
three months with a net balance of 62.6 per cent, higher than 56.6 
per cent, as predicted in the previous survey.

The commodity price hikes, it said, may be dominated by food and
foodstuff, beverages, cigarettes, tobacco, housing facilities,
electricity, gas and fuel oils.

Meanwhile, inflation rate in August 2006 rose 0.33 per cent
month-on-month, bringing year-to-date rate in August to 3.67 
per cent and year-on-year inflation to 14.90 per cent.

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

Bakrie Sumatra plans new oil palm and rubber plantations

JAKARTA, September 19 (Asia Pulse/Antara) - Publicly listed 
PT Bakrie Sumatera Plantation (JSX:UNSP) says it will open 
100,000 hectares of new plantations in 10 years.

The company will spend Rp2.7 trillion (US$300 million) for the oil
palm and rubber plantations its president Ambono Januarianto said.

The investment will include funds for the construction of supporting
infrastructure, housing for workers and processing factories,
Januarianto said.

Earlier the company said it set aside Rp200 billion for the expansion
this year, but the amount may not be enough to carry out its target of
expanding plantation by 10,000 hectares, he said.

The company has rubber and oil palm plantations in Sumatra and 
Kalimantan.

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

Indonesian Shares End Higher Led By Telkom On Sales Hopes

JAKARTA, September 19 (Dow Jones)--Indonesian shares ended higher
Tuesday, led by gains in Telkom on expectations the heavyweight will
report strong nine-month earnings due to an increase in revenue from
its cellular services, dealers said.

They said growing expectations that the central bank will cut interest
rates next month also inspired buying, but falls in other Asian
markets capped gains, causing local retail investors to lock in
profits. The main index rose 3.5% in the previous four sessions.

The Jakarta Stock Exchange Composite index ended up 11.091 points, 
or 0.8%, at 1485.349, down from an intraday high of 1487.226.

"The main index failed to break above the resistance level of 1490.
This could be a signal that it will have a correction tomorrow," said
a trader with Paramitra Securities, who expects the main index to fall
by as much as 1% Wednesday.

Gainers led decliners 74 to 47, with 74 stocks unchanged.

Volume was 1.31 billion shares valued at IDR1.6 trillion, compared
with 1.3 billion shares valued at IDR1.6 trillion Monday.

Bellwether Telkom rose 1.8% to IDR8,350, while rival Indosat dropped
1.5% to IDR4,875, after rising 5.3% in the previous four sessions.

Bank Rakyat Indonesia, the nation's fourth largest bank by assets,
jumped 3.2% to IDR4,900 on expectations of improved 2006 earnings.
However, Bank Mandiri ended down 1.2% at IDR2,125 on profit-taking.

Also higher were shares in automotive concern Astra International,
which gained 0.8% to IDR12,100, after reporting its August motorcycles
sales rose 19% on month.

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Indonesia Rupiah Ends Down; Bond Issue Limits Rupiah Fall

JAKARTA, September 19 (Dow Jones)--The Indonesian rupiah ended lower
against the U.S. dollar Tuesday on continued greenback demand from oil
importers and despite some foreign inflows to the bond market, dealers
said.

The dollar closed at IDR9,155, versus its Monday finish of IDR9,148.
It touched an intraday high of IDR9,160, mainly on early session oil
demand.

However, a monthly government auction of IDR2.14 trillion in bonds
helped support the local currency.

"There seemed to be some money coming from offshore today, likely used
to buy the government bonds," a dealer with a foreign bank said.

Dealers said that the dollar may test IDR9,160 again Wednesday as
state-owned oil company Pertamina (PTM.YY) is expected to buy the
greenback to finance imports of petroleum products.

The downside support for the greenback is pegged at IDR9,120 Wednesday.

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

World Bank financing arm to invest in over 10 Indonesian banks

JAKARTA, September 19 (Asia Pulse/Antara) - The private sector
financing wing of the World Bank, the International Finance
Corporation (IFC), says it will invest in more than 10 privately owned
banks in Indonesia.

IFC vice president Declan J. Duff said the agency will invest mainly
in banks offering credits to small and medium enterprises.

We will continue to expand programs and cooperate with banks seeking
expansion in the small and medium enterprise sector, Duff told the
newspaper Bisnis Indonesia without mentioning any banks specifically.

Last year, the IFC extended loans totaling US$150 million to Indonesian 
banks.

Duff said the IFC will provide assistance in the form of training and
institution building for bankers to improve the system of offering
credit through simpler procedures.

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

Interview: Indomobil To Export China's Chery QQ In 2007

By Phelim Kyne

JAKARTA, September 19 (Dow Jones)--Indonesia's PT Indomobil Sukses
Internasional (IMAS.JK) will kick off regional exports of China's
Chery Automobile Co. Ltd.'s (CHERY.YY) subcompact QQ model in 2007, 
a senior Indomobil executive said Tuesday.

Indomobil, Indonesia's second-largest automobile producer by sales,
expects to export at least 2,000 locally-assembled QQ models next year
out of planned total production of 5,000 units in the same period,
Indomobil President Gunadi Sindhuwinata told Dow Jones Newswires.

Sindhuwinata said that Indomobil began production of QQ models in
August following a cooperation agreement inked with Chery in April.

Those exports hinge on Indomobil ensuring that its QQ models contain a
minimum of 40% of locally-produced parts and materials, Sindhuwinata
said.

The trade liberalization goals of the Association of Southeast Asian
Nations Free Trade Area, or AFTA, subject vehicles made in Asean
countries with a minimum of 40% local content to maximum import duties
of 5% by 2008.

Asean comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar,
the Philippines, Singapore, Thailand and Vietnam.

"We're especially targeting the right-hand-drive market of Thailand,
Malaysia and Singapore," Sindhuwinata said.

"Currently we have reached 15% of local content (and) we are going to
increase this to at least 40% step by step."

Chery, based in Wuhu in China's eastern Anhui province, decided to
focus on Indonesia for its Southeast Asian expansion after meeting
unspecified "obstacles" in exporting cars to Malaysia, company
spokesman Wang Chao said.

The firm's decision to partner with Indomobil reflects Chery's ongoing
efforts to move outside the increasingly competitive Chinese
automobile market. Chery's exports totaled 22,811 units in the first
eight months of 2006 compared with exports of more than 18,000 in
full-year 2005, Wang said.

Ruthless competition has squeezed margins and prompted fierce price
wars between foreign producers General Motors Corp. (GM) and
Volkswagen AG, whose local joint venture companies dominate China's
passenger car market.

Chery sold 183,100 units in the first eight months of 2006, compared
with industry sales of 4.53 million units. Those sales gave Chery a 4%
share of the Chinese market in the same period.

Indomobil Seeks To Reverse Plummeting Sales

Sindhuwinata said Indomobil invested IDR10 billion to outfit its
existing production lines to begin manufacturing the QQ.

"Up to the end of this year, we will sell about 1000 (QQ) units,
around 200 per month," he said.

Indomobil, which is 73%-owned by unlisted investment firm PT Cipta
Sarana Duta Perkas, has direct and indirect investments in 69 units
that act as sole agents for automotive principals. The units are also
involved in car assembly, automotive product retail, auto financing
and after-sales service.

Those units market brands of Japanese automakers including Nissan
Motor Co. Ltd. (NSANY) and Hino Motors Ltd. (7205.TO), as well as
those of Germany's Volkswagen AG (VOW.XE).

The firm also has a joint venture with Japan's Suzuki Motor Corp.
(7269.TO) to domestically produce and distribute vehicle models
including the Futura Real Van and the Carry.

The QQ provides Indomobil a subcompact vehicle model that it
previously lacked and which will help boost sales to economy-minded
Indonesian consumers unable to afford the firm's current portfolio of
upper-market sedans and people-carriers, Sindhuwinata said.

Indomobil sells the QQ at six dealerships in Indonesia for around
IDR75,000,000 ($8,200) per unit.

"When you look at current purchasing power...the QQ's fuel efficiency
is very high which is important for customers," Sindhuwinata said.

Sindhuwinata said the Indonesian government's decision to
more-than-double fuel prices in October powered stubborn inflation and
high interest rates that have pummeled Indomobil's sales over the past
year.

Indomobil, which holds around a 20% share of Indonesia's passenger car
market, expects its sales to fall 42% on-year to around 70,000
vehicles in 2006. Sales fell 40% on-year to around 120,000 vehicles in
2005.

The fuel price hike caused on-year inflation to peak at 18.38% in
November 2005, prompting a sharp monetary policy tightening cycle that
began to ease in May.

Analysts expect the benchmark Bank Indonesia one-month rate, now at
11.25%, to decline to around 10.00% by end-2006 in tandem with a fall
in on-year inflation to 7.00%-8.00% in the same period.

Sindhuwinata said that those indicators make him optimistic that
automobile sales will rebound next year.

"We don't expect the growth of two years ago, but expect at least
15%-20% (sales) growth (in 2007)," he said.

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

Islamic bank must respond to global challenges, Habibie says 

SINGAPORE, Sept. 19 (AP): The IslamicDevelopment Bank must help respond to 
global challenges such as war and poverty to which many Muslim societies have 
been particularly vulnerable, former Indonesian president B.J Habibie said 
Tuesday.

"Many Muslim societies are currently at a crossroads," Habibie said in a 
speech on the sidelines of the annual International Fund and World Bank meetings 
in Singapore.

The image of their community is "now at its lowest ebb".

Habibie, a long-time technocrat who served as Indonesian president from 
1998-1999, is an advisor to the Jeddah, Saudi Arabia-based IDB.

The bank, which began operations in 1975, is the lending arm of the 57-member 
Organization of Islamic Conference, the world's largest Muslim political 
organization.

Its mission is to foster economic development and social progress in member 
countries and Muslim communities based on the principles of Shariah, or Islamic 
law.

"Underdevelopment, marginalization, and wars in the Middle East, Africa and 
South Asia, have all become perennial problems which affect many Muslim 
countries," Habibie said.

Muslims, who number about 1.3 billion worldwide, account for some 25 percent 
of the world's population. But Habibie lamented that their economies only make 
up 4 percent of the global economy based on gross domestic product.

"We should at least contribute the same 25 percent," he said.

The IDB in March launched a 14-year blueprint, Vision 2020, to accelerate 
growth and strengthen the economic clout of Muslim nations.

Also known as Vision 1440H -- 2020 on the Islamic calendar -- it lists nine 
goals including poverty alleviation, boosting education, empowering women, 
expanding the Islamic financial industry and improving the image of the Muslim 
world. 

Habibie, however, said the vision transcends the Muslim world. 

"Indeed, it is inclusive for all humanity," he said. 

Habibie introduced sweeping democratic reforms in Indonesia -- including free 
elections -- after succeeding ousted strongman Soeharto as president in May 
1998, but was ultimately defeated in the first free ballot in 1999.

Islamic finance is unique in that it operates on laws that ban interest 
payments, deemed by Islam's holy book, the Quran, as exploitation because 
depositors and lenders profit without providing labor or sharing risks.

Islamic law also bans investments that pay interest or derive profits from 
alcohol, pork or gambling.

For example, Islamic banks pool deposits to invest in businesses that don't 
profit from interest payments. Commercial borrowers pay the bank and its 
depositors a share of their profits instead of interest.

Still, there is no standard interpretation of Shariah in global Islamic 
finance. Malaysia has been aggressive in promoting Islamic banking and wants to 
make the Southeast Asian country a regional Islamic financial hub. 

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

Dow Jones Newswires
September 19, 2006

Singapore Nonoil Exports
Fall Short of Expectations

Growth Totals 2.6%,
Held Down by Decline
In Shipments of Drugs

By KEVIN LIM

SINGAPORE -- Singapore's nonoil domestic exports expanded 2.6% in August from 
a year earlier, hurt by a sharp drop in the shipment of pharmaceuticals, the 
government said.

The rise was slower than the average estimate of 9% growth by seven 
economists polled by Dow Jones Newswires and less than July's 8.4% year-to-year 
expansion.

On a seasonally adjusted basis, nonoil exports fell 6.4% from the previous 
month after declining 1% in July, according to International Enterprises 
Singapore, the government's trade agency.

IE Singapore said electronics exports rose 3.9% from a year earlier, compared 
with growth of 4.9% in July, while nonelectronics exports slowed to a gain of 
1.4% from July's 11.7% increase as higher petrochemical shipments were offset 
by a 26% year-to-year drop in drug shipments.

"The numbers were pretty bad. But to a large extent, the poor showing overall 
was due to pharma," which tended to be very volatile on a monthly basis, said 
CIMB-GK senior economist Song Seng Wun.

In contrast, August's shipments of electronics were just slightly down from 
July and pointed to a gradual slowing in global demand for electronics rather 
than a sharp slowdown.

The trade agency said Singapore's petrochemical exports climbed 16.3% in 
August, faster than July's 11.5% rise. There were larger shipments to the U.S., 
Malaysia, China and Hong Kong in August compared with a year earlier, but 
exports to the European Union, Japan, Taiwan and South Korea fell.

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

Stock alert - Indonesia's Astra Intl higher on stronger Aug motorcycle sales

JAKARTA, September 19 (XFN-ASIA) - PT Astra International was higher,
boosted by news of a pickup in motorcycle sales in August, dealers
said.

Astra International was up 200 rupiah or 1.67 pct at 12,200.

"The news has strengthened our recommendation to accumulate Astra
International," an institutional dealer with a local brokerage said.

He said the data shows that motorcycle sales have sustained their
recovery over the past few months, supported by better leading
indicators such as easing inflation and falling interest rates.

According to a report compiled by the Indonesian Motorcycle Industry
Association (AISI), industry-wide motorcycle sales rose to 440,288
units in August from 370,347 in July, with Astra's market share rising
to 55 pct from 50 pct in the previous month.

The August sales were the highest for any month since last November.

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

Stockwatch - Indonesia's Ramayana up on 
expected rebound in consumer spending

JAKARTA, September 19 (XFN-ASIA) - Retailer PT Ramayana Lestari
Sentosa was higher on hopes the company will benefit from a pickup in
consumer spending, amidst falling domestic interest rates, dealers
said.

At 11:40 am, Ramayana was up 30 rupiah or 3.49 pct at 890.

The composite index was up 9.777 points at 1,484.035.

"If you believe that a recovery in domestic consumption is underway,
then you should buy Ramayana," said ABN Amro analyst, John Rachmat.

He said ABN Amro has a 'buy' on the stock with a 12-month target price
of 1,050 rupiah based on the assumption that it typically benefits
when the macro-economy improves.

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

Indonesia revises down growth target for manufacturing sector

JAKARTA, September 19 (Asia Pulse/Antara) - The Ministry of Industry
has revised down its growth target for the manufacturing industry to 6
per cent from 7.7 per cent set previously.

Despite the revision, the target is still relatively high or 0.15 per
cent higher than realization in 2005, Secretary General of the
Ministry Agus Tjahjana Wirakusuma said.

Agus said the revision is based on the gloomy outlook of the
investment sector and lower than expected performance with growth of
only 3.6 per cent recorded in the first half of the year.

He said in 2005, encouraging growth was recorded in a number of
industries such as electronic and automotive industries, but so far
this year the two sectors declined.

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

Dirgantara Indonesia needs US$75 mln to build aircraft until 2025

JAKARTA, September 19 (Asia Pulse/Antara) - The management of PT
Dirgantara Indonesia (DI) said the state aircraft factory needs US$75
million for working capital to produce 350 units of N-219 aircraft
until 2025.

Orders from a number of regional administrations in the country have
been received for the 19-seat passenger aircraft, which are suitable
for commuter flights, Technology Director of PT DI Mohammad Mochajan
said.

N-219 aircraft is also suitable for pioneer flight to open remote and
isolated areas, Mochajan said.

He said the company is still seeking financial support from the
government, industrialists, strategic investors and spare part
suppliers.

The price of a unit of the double engine aircraft with a speed of 395
km per hour, is around US$3 million, he said.

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

Holcim Indonesia swings to profit in H1 on forex gains

JAKARTA, September 19 (XFN-ASIA) - Cement maker PT Holcim Indonesia
swung to a net profit of 139.13 bln rupiah in the first half to June
against a net loss of 217.59 bln a year earlier, thanks largely to
foreign exchange gains as the rupiah continued to strengthen against
the dollar.

The company said sales in the half dropped to 1.38 trln rupiah from
1.41 trln in the previous year, while its operating loss widened to
35.26 bln rupiah from 21.04 bln a year ago.

However, it posted net other income of 205.41 bln rupiah in the first
half this year, largely on the back of forex gains, compared to net
other charges of 191.86 bln last year.

It said that with the rupiah strengthening to 9,300 per US dollar as
of end-June from 9,713/usd a year ago, Holcim booked forex gains of
252.03 bln rupiah in the first half against forex losses of 177.41 bln
previously.

Cement maker PT Holcim Indonesia's first half to June results:

Sales - 1.38 trln rupiah vs 1.41 trln
Opg loss - 35.26 bln rupiah vs loss 21.04 bln
Net other income - 205.41 bln rupiah vs charges 191.86 bln
Net profit - 139.13 bln rupiah vs loss 217.59 bln
EPS - 18 rupiah vs loss 28

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Wijaya Karya targets $37 mln from IPO

JAKARTA, September 19 (Asia Pulse/Antara) - State-owned construction
company PT Wijaya Karya targets to earn Rp334 billion (US$37 million)
from an initial public offering (IPO) it plans to launch in the first
half of next year.

The company plans to sell 35 per cent of its shares to the public
including 8 per cent to its workers in the IPO, a company Director
Slamet Maryono said.

Slamet said the company will use the IPO fund to repay a bank loan of
Rp84 billion, build a power plant and a toll road project and expand
operation abroad.

We also plan to expand Wika to become an engineering, procurement and
construction contractor, he said.

Next year, the company hopes to chalk up Rp102.7 billion in net profit
down from this year's target of Rp156 billion.

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Indonesia's Mitra Adiperkasa opens TopShop, TopMan, Miss Selfridge outlets

JAKARTA, September 19 (XFN-ASIA) - Retail firm PT Mitra Adiperkasa
said it has opened local outlets of UK-based Arcadia Group's fashion
brands TopShop, TopMan and Miss Selfridge at Senayan City, a new
shopping center in South Jakarta.

Mitra said in a statement that the three outlets have a combined
selling space of 629 square meters (sqm), with TopShop making up
nearly two thirdsof the total.

Mitra Adiperkasa now trades from more than 500 stores in 22 cities
across Indonesia.

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Indonesia crude palm oil prices mixed, sellers return

JAKARTA, September 19 (Reuters) - Indonesian crude palm oil prices
were mixed on Tuesday, but trading was seen firm as sellers started to
enter the market on expectations of higher demand in the Muslim holy
month of Ramadan which begins this weekend.

In North Sumatra's Medan, the main port for palm oil exports, crude
palm oil traded higher at between 4,170 rupiah and 4,180 rupiah
($0.457-$0.456) per kg, compared with 4,130-4,162 on Thursday.

There was no auction in Medan on Friday and Monday.

"Demand has gradually improved. This has supported prices higher," a
Medan-based trader said, adding some 1,000 tonnes of crude palm oil
were sold.

However, at the state marketing centre in Jakarta, crude palm oil
eased to 4,168 rupiah per kg compared with 4,171 rupiah on Monday with
some 2,000 tonnes of the commodities changing hands.

Demand for cooking oil from the food industry during the Ramadan and
Eid al-Fitr festivals is likely to boost trading activities, traders
said.

"Local refineries started to seek more CPO to fill their stocks to
meet increasing demands for cooking oil in Ramadan and Eid al-Fitr,"
another trader in Medan said.

In Jakarta, olein traded at between 4,700 and 4,725 rupiah a kg
compared with 4,725 rupiah on Monday.

On the export front, sellers offered October shipments at $427.5 a
tonne, while bids stood at $422.5.

Traders estimated Indonesia's palm oil exports stood at around 1
million tonnes in August, up from some 900,000 tonnes in July.

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Sulawesi cocoa bean production increased to 300,000 tons

MAKASSAR, Indonesia, September 19 (Asia Pulse/Antara) - Cocoa bean
production from South Sulawesi and West Sulawesi, which account for
the bulge of the country's production of that commodity, is forecast
to reach up to 300,000 tons this year.

The predicted production represents a sharp rise after being in the
doldrums with production hovering at 180,000 to 200,000 tons a year in
the past 7 years, the Indonesian cocoa Association (Askindo) said.

Askindo chairman Halim Abdul Razak said the prediction is based on
production and exports in the first 8 months of this year.

Exports from the two provinces totaled 170,000 tons in the first 8
months of this year up from 130,000 tons in the same period last year.

Halim said with sales on the domestic market estimated at 40,000 tons
production in the January-August period totaled at least 210,000 tons.

He said the production will increase this year as harvests are still
expected between September and November.

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Joyo Indonesia News Service
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