Category: Business

Anticipated Actions of Pertamina

Minister of state-owned enterprises Rini M Soemarno has on June 29, 2018 approved proposals from the board of directors of state oil and gas company Pertamina to conduct some corporate actions in a bid to maintain a healthy financial status. Some of them will open opportunities for strategic investors in both upstream and downstream sides of Pertamina’s business.

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TPS Food’s Future

PT TPS Food Tbk (AISA) defaulted payments of coupun for bonds July 19, 2018 due to limited cash. The Company’s future depends on its ability to get fresh money from the divestment of assets, especially the troubled rice...

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Pressures from Pertamina Workers

Around 300 workers of state oil and gas company Pertamina in East Kalimantan staged a public rally in Balikpapan yesterday to protest the government’s decision to consolidate Pertagas, a gas transmission and distribution...

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People on the Move

The registration of lawmaker candidates came with a few surprises: the inclusion of the former commissioner of the Corruption Eradication Commission and now the Spokesperson of President Joko “Jokowi” Widodo Johan Budi Sapto Prabowo as a lawmaker candidate for PDIP; and the former of PKS’ Yusuf Supendi suddenly running as a PDIP cadre.

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First Half Results: Jasa Marga

State-owned toll road developer and operator PT Jasa Marga Tbk (JSMR) booked net profit of Rp944.2 billion in the first half 2018, down slightly from the corresponding period last year. Cash-flow of the company, however, improved significantly.

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Policies Issues

The Government plans to speed up the implementation of the B30 biodiesel program in the country’s transportation sector, from initial plan by 2020 to 2019. The B30 program means that the mandatory content of fatty methyl ester in biofuel is raised to 30%.

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Those Continue to Expand: Siam Cement Group (2)

Pretty much as predicted, Siam Cement Group continued its expansion in Indonesia. This time, SCG Retail Holding Co Ltd entered construction material distribution company PT Catur Sentosa Adiprana Tbk (CSAP) through the subscription of new shares. SCG Retail subscribed 405.3 million new shares of CSAP at Rp552.4 per share or a total consideration of Rp224 billion.

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Support for Coal

In contrast to crude oil, which fell significantly in the past few trading days, thermal coal advanced further to US$116.13 per ton Tuesday (Jul 17), thanks to relatively strong demand from Asian countries and difficulties of miners in China to lift their output. 

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