PT Putra Baja Deli has finally commenced operation of new steel factory in Wilmar Integrated Industrial Estate in Serang Regency, Banten province after two years of construction. The facility lifts Putra Baja Deli’s profile in the construction steel market.
Read MoreThe Government of Indonesia has prepared five investment instruments with the goal of absorbing Rp1,000 trillion of repatriated funds. Around Rp100 trillion of which will be directed into government securities or bonds (SUN) while the largest portion will enter the stock market with a certain lock-up period mechanism.
Read MoreBank Mayapada (MAYA), controlled by Dato’ Tahir’s Mayapada Group, is among the fastest growing banks in Indonesia. In the first quarter of 2016, the bank’s assets grew further by 10% to Rp52 trillion. To understand the bank’s plans, we highlighted Q&A between the management and investors in a public expose Monday (May 23).
Read MoreEffective this morning, Hasan Bisri becomes acting chairman of state electricity provider PT Perusahaan Listrik Negara (PLN) to replace Kuntoro Mangkusubroto, who resigned after only six months in office. Energy and mineral resources minister Sudirman Said considers Kuntoro’s resignation a serious issue, while state-owned enterprises minister Rini Soemarno dismissed that.
Read MoreAsian shares were nearly flat in early trading on Tuesday, while the dollar rebounded from steep losses against the yen in the previous session, Reuters reported. Wall Street closed with modest losses overnight.
Read MoreCopper futures slipped further Monday due to reports about weak demand for iron and steel materials in China. Most metals tracked iron ore, which retreated 3.5% to 359 yuan per ton in Shanghai. Earlier last week, World Steel Association reported crude steel production of 135 million tons in April 2016, down 0.5% from April 2015.
Read MoreAburizal “Ical” Bakrie, Setya Novanto, and their supporters are optimistic that the future of the Golkar Party following the Party’s successful extraordinary congress (Munaslub) will be bright. But others aren’t convinced, for one, the Party is still led by those with burdensome past.
Read MoreTwo advocates from Sidoarjo, East Java are being sued for allegedly defaming a notary named Mashudi. It all began with the handling of a transfer of land rights and the process of buying and selling inherited property. This led to tension between the two professionals, which eventually ended in court. The trial on this dispute is still on today.
Read MorePT Pertamina Hulu Energi (PHE) Raja Tempirai is facing a Suspension of Debt Payment (PKPU) lawsuit filed by one of its partners and creditors PT Wihana Cipta Mega (WCM). This is the second PKPU petition that WCM has filed against PHE Raja Tempirai in the past two years.
Read MorePT Medco Energi Internasional Tbk (MEDC) plans to issue bonds worth Rp2 trillion in June this year to fund its expansion program and refinance debts. PT Mandiri Sekuritas will act as underwriter for the bond issue. In May 2015, MEDC’s subsidiary, Medco Energi Global Pte Ltd issued medium term notes (MTN) worth Sin$100 million, carrying coupon rate of 5.9% per year with tenor of 3 years. MEDC’s matured bonds this year amount US$80 million.
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