Author: yosefardi.com

Asahimas Flat Glass Expands, Others?

Unlike other industries, glass has not seen new player entering with significant investment in Indonesia. PT Asahimas Flat Glass (AMFG) Tbk, market leader, is on its way to seize more of the market with US$154.94 million expansion project. Asahimas, a joint venture between Asahi Glass (Japan) and Roda Mas Group (Indonesia), currently operates two flat glass factories in Ancol, North Jakarta and Sidoarjo, East Java with combined capacity of 570,000 tons per annum. Asahimas also owns automotive glass manufacturing facility in Cikampek, West Java with combined capacity of 5 million m2 per annum.

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Junior Coal Player: BOSS Coal & People Behind

PT Cipta Kridatama, subsidiary of ABM Investama (ABMM), has secured a US$63 million mining service contract from PT Bangun Olah Sarana Sukses (BOSS), subsidiary of PT Megah Pratama Resources, for production of 1.5 million tons of coal per annum. Who’s behind BOSS and PT Megah Pratama Resources?

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Suspect Jero Wacik

A few hours ago, the Indonesian Corruption Eradication Commission (KPK) held a press conference and made the announcement that, as per their letter of investigation dated Sep. 2, 2014, a man with the initial JW was officially named suspect in a graft case at the Ministry of Energy and Mineral Resources. The initial is reportedly that of Minister of Energy and Mineral Resources Jero Wacik.

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New Jakarta Police Chief: Unggung Cahyono

Today (Sep. 3), the National Police office is going to hold a handover ceremony for a number of police officers that have been promoted according to the Secret Telegram ST/1717/IX/2014 issued on Monday (Sep.1). The Jakarta police chief Inspector General Dwi Priyanto is to be chief of Public Supervision Inspectorate to replace Commissioner General Anton Bachrul Alam, who is due to retire on Sep. 1. The man who will replace Inspector General Dwi Priyanto as the new Jakarta police chief is Inspector General Unggung Cahyono, the former East Java police chief.

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Market Snapshots & Corporate Actions

SGX-listed JB Foods Ltd has finally exercised options to acquire PT Jebe Koko, which operates cocoa bean processing facility in Maspion Industrial Estate, Gresik, East Java for US$18.4 million. While this is more of an internal acquisition, it shows strong interest from foreign investments in Indonesian food and beverage market. Other companies in this report: Jababeka, Adi Sarana Armada, Dwi Jaya Kemasindo, Hexindo Adiperkasa, and Bank Tabungan Pensiunan Nasional (BTPN).

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Impending Changes in SOE Leadership: PLN

Apart from the impending changes in the leadership of the 2014-2019 House of Representatives (DPR) and the ministries, the changes of leadership in the State-Owned Enterprises (SOEs) are also interesting to watch. As you may know, massive state-owned companies such as Pertamina, PGN, Garuda Indonesia, BRI, will have new leaders. In this article, we’ll talk about the leadership change in PT Perusahaan Listrik Negara (PLN).

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PALM OIL JOURNAL: Bumitama Agri

The benchmark November 2014 contracts of crude palm oil (CPO) closed off high at RM1952 per ton Tuesday as supply continues to weigh on recovery. In Jakarta’s physical market, KPB Nusantara, the joint marketing office of state plantations, sold almost all of 12 CPO packages (12,000 tons) at Rp7495-7815 per Kg (VAT 10% included).

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Pressures on Media Karya Sentosa & Pertamina

Two years ago, on May 23, 2012 to be exact, PT Media Karya Sentosa (MKS) signed a syndication loan facility with some banks to finance the company’s LPG project in Gresik, East Java with total investment of US$175 million. On July 8, 2014, a group called itself Jaringan Advokat Publik (JAP) filed a report against MKS to the Attorney General’s Office (AGO) and the Corruption Eradication Commission (KPK).

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