Revisiting Konawe Industrial Park
Konawe Industrial Park in Morosi sub-district, Southeast Sulawesi province, is one of 14 new industrial estates promoted by central government outside Java. The industrial park is expected to grow like Morowali Industrial Park, which already attracted more than US$2 billion of investments.
Irony of Krakatau Steel
Krakatau Steel (KRAS), the largest steel producer in Indonesia, currently has market value of Rp12.15 trillion only or about half its equity. Wijaya Karya Beton (WTON), a concrete precast producer, meanwhile, has market value of Rp14.9 trillion or 6/4 x equity.
Tax Amnesty in Action (8)
One property developer claimed participant of the tax amnesty program has expressed his/her interest to use the repatriated funds to acquire one of its buildings. This, of course, could be a marketing gimmick, because the property company is launching an initial public offering (IPO). So, the said taxpayer should have planned to repatriate quite a big amount of money.
Revisiting Soechi Lines
Shipping and shipyard company PT Soechi Lines (SOCI) Tbk has on August 16 signed five-year US$180 million syndication loan facilities with several banks to refinance its existing debentures, funding capital expenditures, and working capital.
Softer Second Quarter for Indofood Group
Indofood Sukses Makmur (INDF), one of the country’s largest integrated food and beverage companies, booked net profit of Rp2.23 trillion in the first half of 2016, an increase of 28.9% from the corresponding period of 2015, but its sales and operating profit actually inched up 4.4% and 4.2% respectively.
Oil & Gas Journal
The Ministry of Energy & Mineral Resources (ESDM) issued a list of ten strategic issues for the oil and gas sector targeted for acceleration, including the revision of the Government Regulation Number 22 Year 2001 regarding oil and gas.
Rumors on the Selection of the New Minister of Energy and Mineral Resources
As expected, rumors are widely circulating on who shall be the new Minister of Energy and Mineral Resources (ESDM) to replace Arcandra Tahar. Inside the Ministry of ESDM, people are still talking about the likelihood of having the President’s Spokesperson Johan Budi Sapto Prabowo as their new Boss. Some say Johan would suit the role, especially given his vast experience in the Corruption Eradication Commission (KPK), and the fact that he actually majored in petroleum and natural gas engineering in his undergraduate years at Universitas Indonesia.
Luhut on Masela and the IDD Project
Starting August 17, The Acting Minister of Energy and Mineral Resources (ESDM) Luhut Binsar Panjaitan began working at the ESDM headquarters. He looked very busy and rushed, as he’s also keeping his primary role as the Coordinating Minister for Maritime Affairs. Yesterday (August 18), at the oath-taking ceremony for the new head of the Geology Agency Ego Syahrial, who replaced Surono (otherwise known as Mbah Rono), Luhut told the press that he wouldn’t be acting minister of ESDM for long. “I’m going to be exhausted if this were to go on as is. Just one role is already tasking.”
Q&A with Angkasa Pura I
State-owned airport management company Angkasa Pura I has on Thursday (Aug 18) signed Rp4 trillion syndication loan facilities with PT Sarana Multi Infrastruktur (SMI), PT Bank Central Asia (BBCA) Tbk, PT Indonesia Infrastructure Finance (IIF), PT Bank Mandiri Tbk (BMRI), and PT Bank Rakyat Indonesia (BBRI) Tbk for the development of some airports under its management.
First Half Performance of Tower Operators
PT Tower Bersama Infrastruktur (TBIG) Tbk, controlled by Saratoga Group and Provident Capital, booked net profit of Rp842 billion in the first half of 2016, jumped 77% from the corresponding period of 2015 even though sales revenue increased by 8.7% only.