[Kabar-indonesia] 19 RI oil/gas/mining reports: Lower '06 Fuel Consumption; Bumi; Natuna; Medco

[JoyoNews at aol.com]

Note: also see the previously sent: NYT: Inco Agrees 
to Be Acquired by C.V.R.D. of Brazil [+Bloomberg]

19 Reports:

- Indonesia 2006 fuel consumption
  lower than predicted
- Indonesia's Bumi seeks US$300 
  mln for buyback-source
  [also see Bumi/Credit Suisse below]
- Statoil may take over Natuna 
  D-Alpha block from Exxon
- Malaysia Genting Unit Finds Gas 
  In Indonesia Natuna Block
- Indonesia's Medco may list subsidiaries 
  on global bourses
- Indonesia's Amerada Hess to buy partner's
  oil, gas block stake
- Indonesia gets 14.25 mln usd in advance
  payments for 5 new oil/gas contrats
- Credit Suisse raises stake in Indonesia's 
  Bumi to 11.72 pct from 11.59 pct
- BHP, Chilean Union Reach Accord
- Indonesia's PT Bukit Asam to complete 
  two power plants in 2010
- Asia Crude-Indonesia offers BRC for Oct 
  to Feb 2007
- Indonesia's PGN in last stage of closing 
  225 mln usd loan deals for gas projects
- Global battle over LNG brews as demand
  soars
- LNG Producers Seek New Pricing 
  Formula From Japan
- Samudera Indonesia to buy two 
  LNG tankers for US$200 mln
- Premier Oil H1 profits rise, reports 
  drilling success in Indonesia, Vietnam
- BDI Mining narrows H1 loss, making 
  progress at Cempaka and 
  Woodlark Island
- BDI Mining Corp Finds 3.2 Carat Rare
  Blue Diamond
- Straits Resources plans $400 mln 
  S'pore IPO-sources

Indonesia 2006 fuel consumption lower than predicted

JAKARTA, September 25 (Reuters) - Indonesia expects to consume 37.9
million kilolitres (kl) (238 million barrels) of subsidised fuel this
year, lower than previous estimates of 41.6 million kl, due to lower
domestic demand, an official at state oil firm Pertamina said on
Monday.

Indonesia, OPEC's second-smallest producer, is struggling to cut its
hefty oil subsidy bill, caused by high global oil prices, and wants to
encourage alternative sources of energy.

"Domestic consumption is lower than earlier predicted because the
government raised oil product prices last October," the official, who
declined to be identified, told Reuters.

Indonesia more than doubled subsidised domestic oil products prices
last October.

The official said consumption of subsidised gasoline was likely to
fall slightly to 17 million kl from 17.1 million and diesel oil was
seen down to 11 million kl from 14.5 million kl estimated earlier.

Subsidised kerosene consumption is likely to be slightly lower at 9.9
million kl compared with an earlier estimate of 10 million.

Indonesia has nine refineries with a combined capacity of around 1
million barrels per day, but they supply only about 70 percent of
domestic oil products consumption. The rest is imported.

Indonesia was a net importer of crude oil in May, June and July this
year as production at its ageing oilfields has declined at a rate of 5
percent or more annually.

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

Indonesia's Bumi seeks US$300 mln for buyback-source

By Charlie Zhu

SINGAPORE, September 25 (Reuters) - Indonesia's largest listed mining
group, PT Bumi Resources Tbk , is seeking a US$300 million loan to fund
a share buyback after raising $900 million in refinancing for its
recent failed mine sale, a source close to the deal said on Monday.

The $300 million structured term loan will be secured against
dividends from Bumi's coal mines -- PT Kaltim Prima Coal (KPC) and PT
Arutmin -- as well as Bumi unit IndoCoal Exports, said the source, who
requested anonymity.

KPC and Arutmin are Indonesia's two largest coal mines, which together
accounted for 37 percent of Indonesia's exports last year.

Shares of Bumi have fallen about 20 percent in the past six months.
The company's plan to sell KPC and Arutmin for $3.2 billion collapsed
last month. The deal would have produced a huge profit on assets the
company bought several years ago.

The buyer, an affiliate of little known Indonesian investment bank
Renaissance Capital, had tried to borrow $2.8 billion, including a
$700 million exchangeable bond used as equity, to finance what would
have been Indonesia's second-largest acquisition.

But the lenders baulked at the deal after finding one of the mines
produced far less than expected in the second quarter.

Bumi, controlled by the family of Indonesia's chief social welfare
minister, Aburizal Bakrie, blamed the loss of production on flooding.

The source also told Reuters the $900 million structured notes being
raised by Bumi to refinance a bridge loan taken earlier this year for
the mine sale consisted of a five-year $600 million tranche and a
six-year $300 million tranche.

The $300 million note sale, which has been completed, carries a coupon
of one-month U.S. dollar LIBOR plus 500 basis points, the source said.
Bumi expects to close the $600 million tranche soon. It carries a
one-month U.S. dollar LIBOR plus 325 basis points, the source added.

"The $600 million part should be closed shortly because of strong
investor interest," the source said.

Nalinkant Rathod, an official at Bumi said last week Bumi had secured
$1.2 billion worth of syndicated loans from lenders led by Credit
Suisse to finance maturing debt and buy back shares.

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

Statoil may take over Natuna D-Alpha block from Exxon

JAKARTA, September 25 (Asia Pulse/Antara) - Statoil, an oil company
from Norway, may take over the contract to develop Natuna D Alpha
block if ExxonMobil fails to carry out its contract which will expire
by the end of this year.

The government has expressed disappointment with ExxonMobil which has
sought renewal of contract

after it has failed to start work since it was awarded the job to
develop the offshore gas block in 1980.

Statoil has signed cooperation with state oil and gas company PT
Pertamina in the development of deep sea oil and gas reserves, an
official of the upstream oil and gas regulatory body (BP Migas) said.

Pertamina President Ari Hernanto Soemarno said has offered StatOil to
deep sea oil block project, but he refused to name the project..

The government has said it will no longer renew the contract with ExxonMobil.

Statoil has the technology and financial capacity to develop deep sea
oil and gas reserves and it could take over the contract, the official
, who refused to be identified said.

Indonesia energy company Medco Energi International has also indicated
interest in the Natuna offshore gas block.

BP Migas chief Kardaya Warnika said the government wants that the
investor to replace Exxon must be able to immediately start work to
develop the block.

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

Malaysia Genting Unit Finds Gas In Indonesia Natuna Block

SINGAPORE, September 25 (Dow Jones)--Genting Oil & Gas Ltd., a unit of
Malaysia's Genting Bhd. (3182.KU), has discovered gas as it
successfully completed the drilling of exploration well Anambas-1X in
West Natuna, Indonesia.

Both dry gas and gas condensate were found, according to a company
statement Monday.

Tests found a gas flow of 15.6 million cubic feet of gas a day and a
condensate flow of 488 barrels of condensate a day.

Drilling commenced July 9.

Further evaluation of the results will be taken to determine the
reserve size and development potential, and henceforth the commercial
viability of this discovery.

The Anambas Block is 100% operated by Genting's Oil & Gas's wholly
owned unit Sanyen Oil & Gas Pte. Ltd. under a production-sharing
contract with BPMigas.

BPMigas is the Indonesian agency responsible for supervising upstream
oil and gas activities.

Genting's oil and gas division will shortly begin the drilling of two
more exploratory wells, 90 kilometers to the north of Anambas-1X, in
the oil-prone Northwest Natuna Block.

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

Indonesia's Medco may list subsidiaries on global bourses

JAKARTA, September 25 (Asia Pulse/Antara) - Indonesia's largest
private oil and gas company, publicly-listed PT Medco Energi
Internasional (MEDC) (ASX:MEDC), said a plan to list its subsidiaries
at foreign stock exchanges was a financing option it was studying, a
company executive said.

"We are studying some financing options, including obtaining funds
from financial institutions or offering equities by listing overseas
subsidiaries at foreign stock exchanges," MEDC corporate secretary
Andy Karamoy told the Jakarta Stock Exchange here Monday.

Medco Energi, he said, had several oil and gas exploration blocks in
the United States, Libya, and Oman and was planning to acquire new
exploration sites in Indonesia and overseas.

MEDC president commissioner Arifin Panigoro had earlier told a daily
that the company intended to list three subsidiaries in the United
States, Libya and Oman at global bourses such as in the London,
Singapore or New York Stock Exchange (NYSE) in 2007.

Before the initial public offering (IPO), he said, the company would
take consolidation steps by allowing the three subsidiaries to merge
into one firm so that the IPO process would run smoothly.

Arifin, however, could not mention the name of the would-be firm.

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

Indonesia's Amerada Hess to buy partner's oil, gas block stake

JAKARTA, September 25 (Asia Pulse/Antara) - Amerada Hess has announced
that it wishes to purchase ConocoPhillips' stake in the Ujung Pangkah
oil and gas blocks.

Amerada Hess, the operator and ConocoPhillips' partner in the Ujung
Pangkah block is negotiating the price.

This comes as ConocoPhillips announced its plan to sell its stake in
Ujung Pangkah and Ketapang blocks.

Ujung Pangkah, expected to start operation next year already has a
contract to sell its gas production to state electricity company PLN.

Meanwhile ConocoPhillips has also negotiated with Petronas Carigali on
the price of its stake in the Ketapang block located not far from
Ujung Pangkah.

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

Indonesia gets 14.25 mln usd in advance 
payments for 5 new oil/gas contrats

JAKARTA, September 22 (XFN-ASIA) - The government will get signature
bonuses, or advance payments for the rights to develop an oil
exploration area, of 14.25 mln usd from five new oil and gas
production sharing contracts (PSC), an Energy Ministry official said.

The contractors involved are Petronas Carigali for the Lampung 2
block; Exxon Mobil Corp for the Surumana block; ConocoPhilips for the
Amborip 6 block; Husky Energy for the East Bawean 3 block; and
Talisman Energy Inc. for the Pasangkayu block, Luluk Sumiarso said.

"The contractors promised to pay a signature bonus of 1 mln usd for
Lampung; 2. 2 mln usd for East Bawean; 5 mln usd for Pasangkayu; 5 mln
usd for Surumana and 1.25 mln for Amborip 6," Sumiarso told reporters.

In a separate statement, Exxon Mobil said its affiliate, ExxonMobil
Exploration and Production Surumana Limited, will commence exploration
activity in the Suramana block as soon as possible.

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

Credit Suisse raises stake in Indonesia's 
Bumi to 11.72 pct from 11.59 pct

JAKARTA, September 22 (XFN-ASIA) - Credit Suisse's Singapore branch
had raised its stake in coal company PT Bumi Resources to 11.72 pct by
last Friday from 11.59 pct previously, PT Ficonmindo Buana, a share
registrar, said in written statement.

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

Dow Jones Newswires
Tuesday, September 26, 2006

BHP, Chilean Union Reach Accord

By JAMES ATTWOOD

SYDNEY, Australia -- BHP Billiton Ltd. reached a preliminary agreement with 
union leaders at its Spence copper project in Chile, a BHP spokeswoman said.

Pending a vote by the 375 unionized workers, the agreement will avert a 
strike scheduled to begin today after the two parties failed to reach a wage 
agreement in the allocated negotiating period.

Work stoppages due to strikes or accidents have played a major role in 
triggering spikes in the price of copper. So far, copper-containing ore at Spence 
has been mined and milled, but no copper has been produced at the site.

The project is set to produce its first copper cathode in December, ramping 
up to capacity by mid-2007. Once at capacity, the US$990 million Spence mine is 
expected to produce 200,000 metric tons of copper a year.

"We are confident that the workers will respond favorably to the terms and 
conditions of the agreement reached with the union," the BHP spokeswoman said, 
declining to divulge terms until the work force casts its vote.

The unionized workers presented their list of contract demands in late June, 
with the company making a counteroffer in August. In addition to a collective 
contract, the workers seek higher salaries, housing and other allowances, an 
interest-free loan as well as a 2.6 million peso (US$4,825) end-of-conflict 
bonus and a 1.9 million peso copper-price bonus.

In Chile, BHP wholly owns the Spence project and the Cerro Colorado mine, and 
controls and operates the Escondida mine, which suffered a three-week walkout 
in August.

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

Indonesia's PT Bukit Asam to complete two power plants in 2010

JAKARTA, September 22 (Asia Pulse/Antara) - State-owned coal mining
company PT Tambang Batubara Bukit Asam (BA) (JSX:PTBA) said it will
start building two coal fired power plants to be operational in 2009
and 2010 in South Sumatra.

One of the power plants will e built in the regency f Muara Enim with
a capacity of 2,400 megawatts and another in the regency of Lahat with
a capacity of 200 megawatts, a company manager Eko Hadianto said.

The project in Lahat is expected to be completed and start operation
in 2009 and the one in Muara Enim will follow n 2010, Eko said.

Coal will be supplied y PT BA from its cal mines in Bukit Asam. The
Lahat plant will need around 1.5 million tons of coal a year.

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

Asia Crude-Indonesia offers BRC for Oct to Feb 2007

SINGAPORE, September 22 (Reuters) - Indonesia's state oil company
Pertamina has issued a tender to sell between 230,000 and 250,000
barrels a month of Bontang Return Condensate (BRC) for loading from
October to March 2007, a trader said on Friday.

The tender is likely to close next week though details had yet to be verified.

Oil and gas regulator BPMIGAS held a similar tender last month for
some 240,000 barrels per month of BRC for September to February to
European major BP at around a 10-15-cent-a-barrel premium to the
grade's Indonesia Crude Price (ICP).

It was yet unclear if the new tender meant a doubling of the condensate 
output.

BRC's production has been increasing over the past few months in line
with higher gas output, and BPMIGAS offered at least two cargoes
through spot tenders over the past three months.

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

Indonesia's PGN in last stage of closing 225 mln usd loan deals for gas 
projects

JAKARTA, September 22 (XFN-ASIA) - State-run gas distributor PT
Perusahaan Gas Negara (PGN) said it is entering the final stage of
closing agreements for commercial loans for its gas transmission
projects worth a maximum of 225 mln usd.

The lenders include Asian Development Bank, ING, KfW, and Islamic
Development Bank (IDB).

"In principle, the contributors are ready to disburse the loan in
October, " PGN said in a statement.

It noted however, that a loan of 65 mln usd from IDB needs to be
negotiated separately as it is the firm's first 'shariah' loan.

PGN's two major gas pipeline transmission projects, the so-called
South-Sumatra West Java (SSWJ) Phase I and Phase II, are currently
under construction.

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

Global battle over LNG brews as demand soars

LONDON, September 20 (Reuters) - Competition among Asia, Europe and
the U.S. for liquefied natural gas is intensifying as global demand
for gas escalates, a shipping executive said on Tuesday.

Michael Tusiani, CEO of shipping consultants Poten & Partners told an
industry conference that global trade in LNG was set to triple in the
next decade.

Rapid growth in demand from the U.S. and Europe would see Atlantic
basin countries reaching east to satisfy their growing thirst for LNG,
he said, putting increasing pressure on Asian nations to compete for
an energy source they have long favored.

"Today two-thirds of LNG is consumed in the east," Tusiani told the
27th Oil & Money conference. "With anticipated growth in the West
being twice that of the East, world LNG consumption by 2015 will be
divided equally between the two regions."

Expected annual LNG growth rate of 14 percent in the Atlantic basin
will eventually swallow up 70 percent of Middle East production, he
said, putting the West in direct competition with LNG-hungry Asian
nations.

LNG tankers that are not tied to long-term supply contracts can go
anywhere in the world if the price is right.

"Given the divergence in regional prices, tensions over pricing will
inevitably occur," Tusiani said.

"This has been particularly evident on the spot market, where bidders
compete vigorously for available cargoes, especially during the winter
months."

Not only are Far East consumers of LNG, particularly Japan, facing
stiffer competition, but their traditional supplies are also under
strain.

Indonesia used to be the world's largest exporter of LNG but is
struggling to meet even its existing supply deals as insurgency in
parts of the island nation and political uncertainty hinder supplies,
Ari Soemarno, the CEO of state-run oil and gas company PT Pertamina
told the conference.

"Pertamina is having a tough time," he said, adding it was having to
ask its customers to accept reduced deliveries of LNG.

He told Reuters on the sidelines of the conference that although
Pertamina sold cargoes to Europe and the U.S. back in the 1980s when
it had "ample production" it now wanted to concentrate on the Asian
market.

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

LNG Producers Seek New Pricing Formula From Japan

TOKYO, September 22 (Dow Jones)--Liquefied natural gas producers in
Australia are asking for higher prices in talks with Japanese buyers
on long-term liquefied natural gas supply contracts, the president of
Tokyo Electric Power Co. (9501.TO) said Friday.

The contracts will begin supplying LNG around 2010.

Many LNG supply contracts to Japan use crude oil prices as a
benchmark, which alleviates the impact of sharp price changes by using
a formula called the "S-curb."

Under the formula, LNG prices change in proportion to crude oil prices
in preset price ranges. If the price of crude oil is higher than the
range, the LNG price becomes softer, and vice versa.

Because of this, natural gas producers have missed out on part of the
gains in prices enjoyed by crude oil producers over the past year.

Natural gas producers "have complained the spreads between crude oil
and gas prices are too wide," said Tsunehisa Katsumata, president of
Tepco, Japan's largest power utility and a major LNG buyer.

"I have heard that the talks (between producers and Japanese buyers)
have become very difficult because the producers are asking for
revision (of the formula)," he added, without mentioning specific
buyers and sellers.

The formula is widely used by Japanese buyers, but this may change in
the future, depending on the results of the current talks, Katsumata
said.

There are several large LNG projects in the northwestern part of
Australia including the Chevron Corp.-led (CVX) Gorgon project, and
Woodside Petroleum Ltd.'s (WPL.AU) Pluto project.

Japan imported 58.01 million tons of LNG in 2005, according to the
Ministry of Finance, of which, 24.6% came from Indonesia, 23.4% from
Malaysia and 17.5% from Australia.

Benchmark crude oil futures prices on the New York Mercantile Exchange
have been above $60.00 a barrel since mid 2005.

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

Samudera Indonesia to buy two LNG tankers for US$200 mln

JAKARTA, September 20 (Asia Pulse/Antara) - Shipping company PT
Samudera Indonesia (JSX:SMDR) said has set aside US$200 million for
the procurement of two liquefied natural gas (LNG) tankers .

The two tankers will be used to carry out a US$850 million contract
with BP Plc for LNG transport starting in 2008, a company director
Hamdi Adnan said .

The 145 DWT vessels will transport LNG under 20-year contract from
Tangguh in Papua to India and China. .

BPC is building a US$3.5 billion LNG plant in Tangguh expected to be
completed and start operation in 2008

The two tankers will be built next year in Japan to be completed by
the end of that year at the latest, Adnand told the newspaper Bisnis
Indonesia

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

Premier Oil H1 profits rise, reports drilling success in Indonesia, Vietnam

LONDON, September 21 (AFX) - Premier Oil PLC said it achieved further
drilling success in Indonesia and Vietnam after it unveiled bumper
earnings in the first half, buoyed by increased oil and gas prices and
output.

It found 'multiple gas and oil reservoirs' while drilling the Dua-5X
well on Block 12E in Vietnam. This followed the Dua-4X discovery which
flowed 1,500 barrels per day in May.

Premier, the operator of the block with a 37.5 pct stake, will conduct
further tests to find out the structure's production potentials.
Australia's Santos Ltd owns 37.5 pct of the field, while Delek Energy
holds the remaining 25 pct.

In Indonesia, Premier said it found more hydrocarbons in the two holes
it spudded in the West Lobe and Central Lobe of Anoa field , which is
part of the Natuna Sea Block A.

'Evaluation is ongoing, however, this result has the potential to
increase significantly oil production at the Anoa field,' Premier
said, adding it plans to drill five more wells on the block next year.

The group released the drilling updates alongside first half results
which saw pretax profit rise to 91.5 mln usd from 62 mln. Net profit
grew 64 pct to 33.7 mln stg from 20.5 mln, while turnover increased to
219.6 mln stg from 149.3 mln.

Volumes fell slightly to 33,521 barrels of oil equivalent per day from
34,779 boepd a year earlier. It was, however, ahead of the 33,255
boepd it produced in the whole of 2005 after the Chinguetti field in
Mauritania came on stream and increased gas output from its Pakistani
fields, which partially offset lower production from several UK
fields.

Looking forward, chief executive Simon Lockett said the groups 'growth
plans are on track and we are now entering a period of high impact
exploration with key wells in Vietnam, UK, India and Guinea Bissau.'
Premier is aiming to boost production to 50,000 boepd over the
medium-term.

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

BDI Mining narrows H1 loss, making progress at Cempaka and Woodlark Island

LONDON, September 25 (AFX) - BDI Mining Corp narrowed its pretax loss
to 2.22 mln usd in the first half from 3.38 mln a year earlier, as it
reported continuing progress at its Cempaka Diamond Mine in Indonesia
and advanced Woodlark Island Gold Project in Papua New Guinea.

At Cempaka, the mining of the Danau Seran channel -- the smaller
northern tributary to the Cempaka main channel -- achieved steady
state production during the six months to end-June 2006.

With average monthly recoveries of 3,500-4,000 carats, and recently
achieving the production milestone of 50,000 carats recovered since
commercial-scale mining began in 2005, these figures prove that the
operational systems adopted at Cempaka are 'extremely effective in the
difficult mining conditions encountered locally and provide us with
the confidence to move forward as we seek to develop the mine,' it
said.

At the Woodlark Island, BDI continues to meet its strategic
exploration targets and is currently evaluating options for the next
stage of development, it added.

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

Dow Jones Newswire
September 25, 2006

BDI Mining Corp Finds 3.2 Carat Rare Blue Diamond

BDI Mining Corp. today announces that it has recovered a rare 3.02
carat blue diamond from its Cempaka alluvial diamond mine in SE
Kalimantan, Indonesia.

The 3.02 carat, fancy coloured intense-blue diamond was recovered from
the Indonesian mining operations, where over 50,000 carats of gem
quality diamonds have been recovered since mining operations began in
March 2005.

Blue diamonds, along with green and red stones, are considered to be
among the rarest and most valuable of all diamonds.

Chairman of BDI Mining Corp, David Lenigas stated "The recovery of
such a stone is very much a highlight for the mine and the Company.

"Not only is the stone potentially very valuable, but its recovery
also highlights that the security measures we have in place at the
mine are efficient and effective.

He said, "Given the intense colour of the stone and therefore its
rarity, we have decided to christen the diamond as the 'Chelsea Blue'
". The diamond will be sold by private tender within the coming
months. Further information regarding the tender will be available in
due course.

The discovery of the Chelsea Blue comes at a time when the expansion
of the Cempaka operations are progressing as planned.

The processing facilities upgrade is scheduled for completion within
the next two weeks and the initial mining expansion phase of the
Cempaka main channel is well advanced.

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

Straits Resources plans $400 mln S'pore IPO-sources

By Saeed Azhar

SINGAPORE, September 22 (Reuters) - Australia's Straits Resources Ltd.
plans to sell some of its Asian energy and trading assets in an
initial public offering of around US$400 million in Singapore in the
fourth quarter, sources close to the deal said on Friday.

The newly listed arm would be called Straits Asia Resources and its
assets would include its coal-mining operations in Indonesia's Sebuku
island, in the province of South Kalimantan and its coal trading
business in Singapore, a source told Reuters.

Macquarie Bank is lead managing the IPO.

"Straits, which owns all of the assets, is doing an IPO to sell
approximately 40 percent of coal mining operations and other assets
and investments in Asia including Indonesia," a source told Reuters.

Perth-based Straits Resources, which has a market capitalisation of
$554 million, plans to file the prospectus with the Singapore Exchange
within the next few weeks.

Straits' gold mine in Mount Muro, also in the Indonesian province of
South Kalimantan, won't be included in the newly listed company, the
source said.

Earlier this year Straits Resources had said the new company would
focus on acquiring and developing projects in the Asian region,
according to its Web site.

The Sebuku coal mine produced 850,000 tonnes in the first quarter, a
36 percent increase from a year earlier, Straits Resources said on its
Web site. The firm expects the mine to produce 3.5 million tonnes this
year.

Straits Resources' first-half profit quadrupled, thanks to strong
minerals prices. Net profit for the six months to June 30 rose to
A$44.3 million ($33.54 million) from A$10.4 million the previous year,
it said in August.

A total of 43 companies have listed on the Singapore Exchange this
year, mostly small and mid-sized Chinese companies raising capital in
Singapore.

The biggest IPO this year was Thai Beverage which raised a total of
S$1.37 billion for the company and vendor shareholders in May.

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Joyo Indonesia News Service
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