Indonesian Companies Invest Abroad

[DarkElf]

1. Paying by giving their asset that is actually much less than the actual debt

2. All major banks Today are state owned and their profitability is huge ( so government can run banks professionally as well, other case is BRI, it is so famous because their ability to finance micro businesses while having huge profit by doing so )

3. Yup, as I said, previous owner cannot become majority stake holder anymore. It is against the rule. The rule is still in place until now ( as far as I know)

1. Yet the government accept it, and clear it. And don't forget to compare it to that era standard procedure of disputing the BLBI bill and somehow win, or choose 1-2 years jail or even run away.

2. So? I don't get what you are trying to say with this point.

3. Can you give me more real info about this? Thanks.

 

[Indos]

1. Yet the government accept it, and clear it. And don't forget to compare it to that era standard procedure of disputing the BLBI bill and somehow win, or choose 1-2 years jail or even run away.

2. So? I don't get what you are trying to say with this point.

3. Can you give me more real info about this? Thanks.

1. That is known already that BPPN and our police institution are not a clean one.

KPK Periksa Eks-Kepala BPPN Glen Yusuf :: Okezone

Newshttp://www.antaranews.com/berita/28580/syafruddin-tumenggung-ditahan-di-rutan-kejari-jaksel

2. I just want to clarify about what you have said before that sound skeptic about our government handling on bank

3. wow, I dont want to waste my time just for that, you can search by yourselves. You can start from this :

Indonesian Bank Restructuring Agency - Wikipedia, the free encyclopedia

This is I give you another lead:

"Hal itu diungkapkan Wakil Ketua Komisi Pemberantasan Korupsi (KPK) bidang penindakan, Tumpak Hatarangon Panggabean disela-sela Konferensi Nasional Pemberantasan Korupsi (KNPK), Rabu (5/12).

Unsur perdata dalam kasus ini, lanjut Tumpak, sudah terbukti dengan adanya aliran dana dari pemilik asal PT Timor Putra Nusantara ke perusahaan pembeli, PT Vista Bella Pratama. Padahal, dalam ketentuan jual beli aset BPPN, pemilik asal tidak boleh membeli kembali aset yang telah disita. "Jika terbukti jual beli harus dibatalkan," kata Tumpak."

SUARA MERDEKA - NASIONAL

 

[DarkElf]

1. That is known already that BPPN and our police institution are not a clean one.

KPK Periksa Eks-Kepala BPPN Glen Yusuf :: Okezone

Newshttp://www.antaranews.com/berita/28580/syafruddin-tumenggung-ditahan-di-rutan-kejari-jaksel

2. I just want to clarify about what you have said before that sound skeptic about our government handling on bank

3. wow, I dont want to waste my time just for that, you can search by yourselves. You can start from this :

Indonesian Bank Restructuring Agency - Wikipedia, the free encyclopedia

This is I give you another lead:

"Hal itu diungkapkan Wakil Ketua Komisi Pemberantasan Korupsi (KPK) bidang penindakan, Tumpak Hatarangon Panggabean disela-sela Konferensi Nasional Pemberantasan Korupsi (KNPK), Rabu (5/12).

Unsur perdata dalam kasus ini, lanjut Tumpak, sudah terbukti dengan adanya aliran dana dari pemilik asal PT Timor Putra Nusantara ke perusahaan pembeli, PT Vista Bella Pratama. Padahal, dalam ketentuan jual beli aset BPPN, pemilik asal tidak boleh membeli kembali aset yang telah disita. "Jika terbukti jual beli harus dibatalkan," kata Tumpak."

SUARA MERDEKA - NASIONAL

Obviously i do know about IBRA....... Your link still doesn't explain what i read from other articles, but this is getting too long. IMO if we judge anything only by black and white, just like the last cicak vs buaya episode show to us, chance is the majority of Indonesian going to be black.

Also, I don't doubt about our government's handling, it just simply from our past history when we have different Government, they are going to have different condition, aim, and rule, which give different results.

 

[Indos]

Waskita to renovate Masjidil
Haram grand mosque in Mecca
Nurfika Osman, The Jakarta Post, Jakarta | Business | Thu, April 11 2013, 12:42 PM


Publicly listed construction company PT Waskita Karya (WSKT) has been named as one of the main contractors in the renovation and expansion of the Masjidil Haram grand mosque in Mecca, Saudi Arabia, a company executive has said.

Waskita president director M. Choliq said in Jakarta on Wednesday that the company would team up with the Saudi Binladin Group (SBG), one of the largest construction companies in Saudi Arabia, to carry out the renovation project which would take between five and 10 years.

“The Masjidil Haram is going to be a long-term project for us. We will renovate the mosque gradually before and after the Haj season because the expansion project must not disturb the pilgrims,” Choliq said on the sidelines of a hearing with the House of Representatives Commission V overseeing infrastructure and transportation. This year, the haj season will fall in October.

He said that Waskita, which is controlled by the Indonesian government, would start the renovation project next month.

Choliq declined to reveal the value of the renovation contract, but he said it was a substantial project and important in helping to strengthen Waskita’s position as a global player.

The Masjidil Haram grand mosque surrounds one of Islam’s holiest sites, the Kaaba.

After the Masjidil Haram project, he said that the company planned to bid for more infrastructure projects in several Asian countries.

Waskita would be working on projects worth Rp 23.5 trillion (US$2.24 billion) throughout this year, up by almost Rp 9 trillion from last year, he said.

Apart from Waskita, other state-run construction companies PT Wijaya Karya and PT Pengembang Perumahan are also planning to spread their wings to foreign markets.

Wijaya Karya corporate secretary Natal Argawan said that the firm was vying for new projects in Latin America and Malaysia in the coming years.

“For the Latin American market, we have recently established a team that will study the markets in several countries. We are going to look at the prospects, the risks and the political situation this year before deciding which countries we are going to enter and what projects we will be working on,” Natal said, adding that the firm had yet to set a deadline on when they should expand into Latin America.

The company would not be in a rush to expand their businesses because political and economic conditions could change at any time.

However, Wijaya Karya had recently participated in the bidding process in some projects in Malaysia, he said. “We are going to announce more projects in foreign countries soon,” he said.

The company has just set up a representative office in Myanmar in order to explore business opportunities in the newly emerging economy.

This year alone, the company would work on projects worth Rp 20.7 trillion, an increase of some 26 percent from last year.

Moreover, Pengembang Perumahan president director Bambang Triwibowo said that the company was currently eyeing infrastructure projects in Timor Leste. “This is going to be one of our biggest projects in Timor Leste and we plan to start it this year,” Bambang said, declining to provide details on the project saying that it might affect their plans.

State-owned enterprises (SOEs) are starting to move on foreign markets this year in order to widen Indonesia’s business exposure and presence in the international arena.

At the end of March, a delegation of as many as 15 firms including oil and gas firm PT Pertamina, mining firm PT Antam, fertilizer producer PT Pupuk Indonesia, electricity firm PT PLN, telecommunications company PT Telkom and aircraft maintenance company PT GMF Aero Asia explored business opportunities in Myanmar led by Coordinating Economic Minister Hatta Rajasa.

The delegation was also viewed as a form of solidarity because Myanmar, a fellow ASEAN member, has been improving its democratic and human rights records.

As Southeast Asia’s largest economy, Indonesia has the least presence in Myanmar compared to other ASEAN countries such as Thailand, Singapore and Malaysia.

Singapore’s sovereign wealth fund Temasek Holdings, for example, is believed to have invested about $3 billion in Myanmar as of today.

SOE Minister Dahlan Iskan has said that Indonesia would reap many benefits from Myanmar because the country needed oil, gas, and infrastructure.

- See more at: Waskita to renovate Masjidil Haram grand mosque in Mecca | The Jakarta Post

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WIKA to build $40 million
hotel in Mecca
The Jakarta Post, Jakarta | Business | Wed, April 22 2015, 5:45 PM


Business News

State-owned construction firm PT Wijaya Karya (WIKA) will expand to Saudi Arabia in 2015 by building a hotel worth some US$40 million in the vicinity of the Masjidil Haram Grand Mosque in Mecca.

"This year WIKA has started to win project contracts in Saudi Arabia," WIKA director of operations Destiawan Soemardjono said on Wednesday as quoted by Antara news agency.

"Previously, we entered Algeria, Timor Leste, Malaysia and Myanmar."

Speaking after an annual shareholders meeting, Destiawan said the publicly listed firm entered Saudi Arabia due to high demand in property and highway sectors.

"By the end of 2015, WIKA will start building a number of hotel towers in about two years," he said.

"We have also received offers to build an MRT system in Saudi Arabia."

Destiawan said WIKA was preparing to set up a foreign investment company in Saudi Arabia.

"We are also studying the idea of establishing a factory to produce precast concrete."

WIKA is building three towers of apartments worth Rp 1 trillion ($77.54 million) in Algeria.

In Timor Leste, WIKA is eyeing projects worth between $30 million and $40 million in an airport and four bridges.

In Malaysia, the company is in the renegotiation process of a bid to build a nine-tower apartment, while in Myanmar WIKA is building a tower worth $120 million. (nvn)(++++)

- See more at: WIKA to build $40 million hotel in Mecca | The Jakarta Post

 

[Indos]

BRI eyes syndicated loans
as it opens Singapore branch
Grace D. Amianti, The Jakarta Post, Singapore | Business | Fri, July 31 2015, 3:38 PM


State-owned Bank Rakyat Indonesia (BRI) will provide syndicated loans as part of a strategy to attract Indonesian companies following the opening of the lender’s branch office in Singapore.

The lender will allocate at least US$100 million in the first year to Indonesian companies that are seeking offshore funding, an executive says.

“We are aiming to lend at least $100 million of syndicated loans in the next 12 months. We already have some prospective loans in the pipeline, but the process will not be instant,” Azizatun Azhimah, general manager for BRI’s Singapore branch, said on the sidelines of the branch opening on Wednesday.

Loans for any projects would be assessed based on their potential value, feasibility and compliance to the lender’s requirements, Azizatun said.

BRI president director Asmawi Syam said the bank saw syndicated loans as a prospective type of lending to help boost its international business as well as finance infrastructure developments in Indonesia.

“We can learn much about that type of loan in Singapore and collaborate with local and international banks here to grab opportunities.”

According to Asmawi, demand for infrastructure financing will increase as more Singaporean investors get attracted to start investing in Indonesia’s infrastructure and other sectors following President Joko “Jokowi” Widodo’s visit to the city-state on Tuesday, saying that “the launch of BRI Singapore branch is well timed with the state visit”.

“President Jokowi has invited Singaporean investors to help develop our infrastructure, so that BRI hopes to build a bridge between them and Singaporean and international banks as BRI is more experienced in financing infrastructure projects in Indonesia, such as power plants, seaports, airports and toll roads,” Asmawi said.

President Jokowi met over 150 Singapore business leaders at a dialogue on Tuesday to discuss Indonesia’s economic priorities, foreign investments and partnerships in conjunction with his state visit to meet Singapore’s Prime Minister Lee Hsien Loong.

Indonesia, Southeast Asia’s largest economy, needs to boost its infrastructure development and revitalize its manufacturing sector so as to achieve 7 percent economic growth by 2019.

Asmawi said BRI was prepared to join the competition in the international banking business as it would ensure the competitiveness of the pricing offered by its services, adding that “our overall services will cover funding and lending facilities for corporate customers, including treasury, priority banking and trade finance”.

“The Singapore market has big potential, so that we hope to break even in revenue in the second year, which is faster than the average overseas branches of banks,” Asmawi said while refusing to mention the revenue target.

The new Rp 30 billion (US$2.2 million) Singapore offshore branch adds to BRI’s four existing overseas offices — BRI New York Agency, BRI Cayman Island Branch, BRI Hong Kong Representative Office and BRI Remittance Office.

The Singapore branch will be able to provide wholesale banking services, such as trade finance and remittance as well as wholesale fund management.

The branch, which is categorized as an “offshore branch” according to Monetary Authority of Singapore’s (MAS) regulation, has limited operation in wholesale or corporate banking services. Meanwhile, foreign banks under the “full branch” category in Singapore are allowed to operate wholesale and retail banking services as well.

MAS granted the license to BRI in June after the bank applied in 2013 to be one of the players in Singapore’s foreign bank market in preparation for the ASEAN Economic Community’s (AEC) financial and banking integration in 2020, when certain grades of banks and financial companies will be allowed to operate freely across the region.

On the sidelines of the launch, Coordinating Economic Minister Sofyan Djalil said the government applauded BRI’s move in entering Singapore’s banking market as the city-state was famous for being difficult to penetrate due to tight restrictions and requirements for foreign banks.

“This action is positive because we are entering the AEC, so that our banks should prepare themselves to operate regionally. By being exposed more to the international market, BRI is expected to tap more resources to improve itself and its customers as well as to contribute to Indonesia’s economy.”

- See more at: BRI eyes syndicated loans as it opens Singapore branch | The Jakarta Post

 

[Indos]

Mandiri’s new S’pore
unit eyes $100m in assets
this year

Tassia Sipahutar, The Jakarta Post, Singapore | Business | Wed, March 26 2014, 11:52 AM

Asset management firm Mandiri Investment Management (MIM) Pte. Ltd., a Singapore-based subsidiary of Indonesia’s Mandiri Manajemen Investasi (MMI), expects to book US$100 million in total assets under management during the first year of its operations, which will officially begin Wednesday.

The new subsidiary will assist Singaporeans wanting to invest in Indonesia, both through foreign direct investment (FDI) and the Indonesian capital market platforms, the company’s chief executive officer Evan Lim said.

“They may want to invest in the real sector or enter the capital market. In the real sector, we will help them to get in touch with the BKPM [Investment Coordinating Board], while in the capital market, we will provide them with access to Indonesian securities,” he said in Singapore.

MIM has held talks with several potential investors and it expects to launch its first products in the next quarter. Shipping, infrastructure and renewable energy are among the business sectors that the investors are currently looking into.

In the capital market, the consumer-based sector remains one of the most attractive for Singaporean investors, Lim said, citing that with Indonesia’s huge population, business involved in the sale and production of consumers goods would continue flourishing in the future.

“The investment prospects are bright because around 80 percent of the activities of the private banks here are related to Indonesian clients. So they know Indonesia well already,” he added.

Both MIM and MMI are part of Indonesia’s largest lender, Bank Mandiri. MIM officially obtained its business license as a registered fund management company from the Monetary Authority of Singapore in August 2013. MMI sales and investment director Wendy Isnandar said that the business expansion to Singapore was part of the bank’s effort as a financial group to prepare for the upcoming ASEAN Economic Community in 2015.

Wendy said that domestically, MMI hoped to see its assets under management grow by 30 percent from 2013 to stand at Rp 25 trillion ($2.2 billion) by year-end. As of February, the figure had reached Rp 21.2 trillion.

Besides MIM, the recent expansion also includes the opening of Mandiri Sekuritas’ Singapore branch office. At the moment, the branch’s business is limited to bond trading to institutional clients only as it still operates under the exempt Capital Markets Services (CMS) category.

Lawrence Ong, the Singapore branch head, said that it expected to obtain an upgrade in its license to CMS this year to enable it to conduct wider activities, including underwriting and corporate advisory.

“We hope to be able to attract market dealers, investors and private banks once we secure the full license,” Ong said.

According to Mandiri Sekuritas managing director Laksono Widodo, no specific target had been set for the branch yet.

Meanwhile, Mandiri Sekuritas itself eyes a total of Rp 10 trillion to Rp 12 trillion in underwriting value in 2014, generated from 10 initial public offerings (IPOs) and 20 bonds issuances. Last year, it managed to post Rp 11.43 trillion by managing five IPOs, three rights issues and 22 bonds issuances.

- See more at: Mandiri’s new S’pore unit eyes $100m in assets this year | The Jakarta Post

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Mandiri to team up with
South Korean payment firm
Grace D. Amianti, The Jakarta Post, Jakarta | Business | Tue, November 17 2015, 5:53 PM


State-owned lender Bank Mandiri will team up with a South Korean payment company to further improve the bank’s payment and financial settlement system.

Bank Mandiri finance director Kartika “Tiko” Wirjoatmodjo said in Jakarta on Monday that the partnership was part of the enhancement of the bank’s digital banking services.

Tiko said the planned joint-venture with the South Korean company would mainly handle payment and settlement services, especially those made through its electronic data capture (EDC) machines.

Through the joint venture, which is expected to launch in the first quarter next year, in the future Mandiri’s EDC platform could be open for other banks wishing to utilize its payment and settlement services, he added.

“The partnership will help us to outsource our EDC system through the joint venture, so that in the future we will be able to open our platform to other banks,” Tiko said, declining to mention the South Korean company’s name.

Mandiri, along with three other state lenders — Bank Negara Indonesia (BNI), Bank Rakyat Indonesia (BRI) and Bank Tabungan Negara (BTN) — are finalizing their integrated ATM system, under the supervision of the State-Owned Banks Association (Himbara).

In order to enable further integration of the system in 2016, the four state banks will acquire a local interbank network provider, dubbed a “switching company”, through a subsidiary of each lender — known as special purpose vehicles (SPVs).

Mandiri Capital, the bank’s newly-established venture capital body, will act as its SPV to partake in the acquisition of the switching company. “We obtained the [Mandiri Capital] operating permit on Nov. 10 from the Financial Services Authority [OJK],” Tiko said.

“We also have obtained a permit to inject Rp 500 billion [US$36.4 million] for Mandiri Capital, but we will probably start with Rp 300 billion first,” Tiko said, adding that the firm was expected to help link start-up businesses, including young entrepreneurs gathered in its annual Mandiri Young Entrepreneurship program, with funding sources and “angel” investors.

In addition to the improvement of the Himbara Link ATM Integration, Mandiri also plans to improve payment services for the country’s growing e-commerce industry.

As e-commerce grows, Tiko said Mandiri was planning to improve its e-cash service, an electronic money service that enables users to make small payments using their cell phone numbers, through its second-tier subsidiary Mandiri Manajemen Investasi. The product was still being managed by an external developer as of now, he added.

Tiko said Mandiri was also planning to invest in emerging and potential financial technology firms that would be connected to Mandiri’s digital platform in the future.

“There will be benefits in more fee-based income and more efficient operating costs, while also gaining from equities we placed in Mandiri Capital,” Tiko said.

Mandiri’s fee-based income grew 20.8 percent yoy to Rp 13.15 trillion as of September this year, with a fee income from e-channel transaction contribution that jumped 38.8 percent yoy to Rp 668.2 billion by the end of third quarter.

- See more at: Mandiri to team up with South Korean payment firm | The Jakarta Post

 

[CountStrike]

Indonesian construction giant enters Saudi market

PT Wijaya Karya (Wika), an Indonesian construction giant, has signed Saturday a strategic partnership agreement with a Jeddah-based construction firm to pump investments worth millions of dollars into the Saudi market. The agreement was inked by Bimo Prasetyo, division manager of Overseas Department of Wika, and Adil Abdul Munief Makki, CEO of Adil Makkah Contracting Corporation (AMCO), at a ceremony held in Obhur, Jeddah.

The ceremony was attended by several senior officials of the Indonesian consulate, Jeddah Chamber of Commerce and Industry (JCCI) as well as Wika and AMCO. They included Vice Consul Jurman Nazar, who is responsible for economic section at Indonesian consulate general, Muammar Al-Atawi, chairman of the committee for contractors at JCCI, Siddik Siregar, general manager of the Overseas Department of Wika, and Rahimul Amin, marketing manager of Wika Saudi.

Makki, who is also director of hospitality committee and member of tourism committee at JCCI, told Saudi Gazette that three projects worth SR30 million will be implemented in Jeddah in 2016 as part of the agreement. These include construction of administrative building, commercial center, and villa duplex.

Makki further said the Indonesian construction giant’s entry will spur the Kingdom’s booming construction sector and will attract advanced technology to this vital sector. “The agreement was signed after intensive consultations and administrative procedures that lasted for nearly one year, and the deal is for a period of 10 years and that can be renewable. Wika has scored successful stories in the contracting and construction fields not only in Indonesia, but also in several other countries,” he noted.

Siregar said Wika is happy to enter the Saudi market through having strategic partnership with AMCO. “This is part of our strategy to have strong presence in the Gulf and other Arab countries. Ever since the company’s decision for expansion abroad in 2007, the company has entered the markets of the United Arab Emirates, Algeria, Libya, in addition to Myanmar, Malaysia, Brunei and East Timor.”

Speaking on behalf of Dharmakirty Syailendra Putra, consul general of Indonesia, Jurman said Indonesia wants to take advantage of the huge potential of the Saudi infrastructure and construction markets. “As the most populous Muslim nation, which sends the largest number of Haj and Umrah pilgrims, Indonesia is serious in expanding strong ties with the Kingdom in trade, investment and construction sectors. There has been five percent growth in investments between the two countries in 2015 alone compared to previous years.” “In the backdrop of the fall in oil prices, the Kingdom is focusing more on non-oil sectors, and hence Indonesia wants to capitalize on it,” he said.

Jurman also unveiled Indonesia’s plan to have stronger ties with the Kingdom in the small and medium enterprises (SMEs) and Islamic finance sectors. “Muliaman Hadad, chairman of Indonesia’s Financial Services Authority, will be one of the speakers at the upcoming Jeddah Economic Forum, slated in March. Hadad, who is an expert in Islamic finance and SMEs, will speak about the role of Islamic financing in SMEs,” he said, adding that SMEs are the backbone of Indonesia’s economy and there is vast scope for cooperation between the two countries in this sector.

Muammar Al-Atawi said an Indonesian construction giant is entering the Saudi market for the first time. “The entry of such firms in the Mideast’s largest market shows the potential of Saudi construction sector and its continuous growth at a time when construction markets of many other countries witness slowdown.”

Wika has obtained in 2015 the foreign investor license from the Saudi Arabian General Investment Authority (SAGIA). Bimo Prasetyo said the company expects signing of agreements amounting to more than $200 million during the current year in the Kingdom. “There are several projects costing over $40 million under study and these include construction of residential and commercial center projects,” he said.

Established in 1960, PT Wijaya Karya (Persero) Tbk. is the largest construction company in Indonesia, with a staff of more than 22,000, and the company’s stake in the country’s construction and contracting market exceeds 35 percent. Wika, a state-controlled company, is one of the first choices to participate in government infrastructure projects. Its businesses include civil engineering, construction of buildings and industrial plants, as well as energy facilities besides mechanical, electrical and mining projects, and real estate sector.

AMCO, established in 2008, has so far implemented a number of mega projects, including those for the Saudi Arabian Airlines as well as for the ministries of defense and education, according to Makki. He said the strategic partnership with Wika will be a big boost to the Saudi economy. “As part of implementing the initial projects in Jeddah, we have reached a contract with the Jeddah-based property developer Idafa Co. Idafa will get us land, building design and will complete other necessary procedures for implementing the projects,” he added.

(saudigazette)

 

[CountStrike]

Old News...


Wijaya Karya Signs a Property Project in South Africa
By: admin2On: October 19, 2013



State-owned engineering and construction firm PT Wijaya Karya (WIKA) signed on Friday (18/10) a memorandum of understanding (MoU) with South African construction firm Nu-Crete (Pty) Ltd. for a property project in South Africa.

WIKA has undertaken various construction projects overseas including in Algeria and Libya.

WIKA overseas operation director Destiawan Soewardjono said that the firm would commence construction of the 2,000 houses in the first quarter of next year, as the necessary preparatory measures would be finished by year end.

The houses are part of a low cost housing project that will build 200,000 houses in the country over the next few years.
http://www.thepresidentpost.com/2013/10/19/wijaya-karya-signs-a-property-project-in-south-africa/


INDONESIA PRESS-Wijaya Karya eyes Morocco shopping mall project -Bisnis Indonesia

State construction firm PT Wijaya Karya is eyeing cooperation with Islamic Development Bank to work on a shopping mall project in Morocco, Bisnis Indonesia reported, quoting Corporate Secretary Suradi.

Negotiations are still underway and construction is expected to begin this year, Suradi said, adding the firm is eyeing four projects this year, in Timor Leste, Algeria, Malaysia and Saudi Arabia, worth a total of 4 trillion rupiah ($317.46 million).



Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12,600.0000 rupiah) (Compiled by Jakarta Newsroom; Editing by Biju Dwarakanath)
http://www.reuters.com/article/indonesia-press-wijaya-karya-idUSL4N0VE1CQ20150204



_________________________________________________________



RI, US firms sign deal
to produce medical isotopes
Khoirul Amin, The Jakarta Post, Jakarta | Business | Sat, June 21 2014, 3:07 PM


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State-owned companies PT Industri Nuklir Indonesia (INUKI) and IPTN North America, Inc. — a subsidiary of Indonesian aircraft firm PT Dirgantara Indonesia — have recently signed a memorandum of understanding (MoU) with American SHINE Medical Technologies to produce medical isotopes.

State-Owned Enterprises Minister Dahlan Iskan, who attended the signing ceremony at the Indonesian embassy in Washington on Monday, said that the agreement sought to anticipate the shortage of medical isotopes due to the shut down of nuclear facilities in Canada and Europe.

“The US has become increasingly concerned about how it can supply medical isotopes to its hospitals in the future because Canada will cease operations of its nuclear reactors by 2016,” he told The Jakarta Post on Wednesday evening, adding that the majority of the isotopes used in the US were imported from Canada.

He said that while details of the partnership would be discussed at a later date, he estimated the total investment in Indonesia would surpass Rp 1 trillion (US$83.57 million).

According to the MoU, INUKI, IPTN North America and SHINE would raise funds to build medical isotope factories in Janesville, Wisconsin and in Indonesia.

The medical isotopes produced by the factories are set to be sold in the US and Asia-Pacific markets.

Dahlan said that Indonesia had so far exported medical isotopes to Malaysia, Singapore and Bangladesh.

Canada recently shut down its nuclear power plant in Québec, leaving the country with five nuclear power plants and 22 nuclear power reactors, according to information posted on the Canadian Nuclear Safety Commission (CNSC) website.

There has been growing concern among Canadians living nuclear power reactors about safety, especially after a study by the Maurice and Central Quebec public health authority found an increase in tumors in people under 20 year olds living 13 kilometers away from a nuclear reactor, Canadian Broadcasting Corporation (CBC) reported.

Nuclear reactors are commonly utilized to generate electricity and produce neutrons. The neutrons can be later converted into isotopes for medical use.

Dahlan said that SHINE, however, had found a way to produce isotopes without using nuclear reactors, an innovation previously predicted to occur in 2050.

“Indonesia had previously planned to build a new nuclear reactor to replace the aging one in Serpong, Banten, to produce more medical isotopes. However, knowing that SHINE can do it without a nuclear reactor, we canceled the plan and signed this deal instead,” Dahlan said.

SHINE CEO Gregory Piefer said that US-based factories would be able to supply two-thirds of the US’ isotope demand, while Indonesian factories would serve the Asia-Pacific market.

“We are very excited to collaborate with Indonesia for two reasons. The first is because of the country’s strong technical background in the production of medical isotopes, and the second is its deep knowledge of the nuclear field,” he said, as quoted by Voice of America.

- See more at: http://www.thejakartapost.com/news/...ce-medical-isotopes.html#sthash.nxmeKTY7.dpuf

 

[CountStrike]

Pertamina to Acquire Amaco, a Leading Lubricants Producer in Thailand


Yogyakarta. Pertamina Lubricants, the downstream unit of state energy company Pertamina, is currently in the final stage of acquiring Amaco, a mid-size lubricants company in Thailand, according to a company official.

“We will complete the process by the end of the year,” said Andria Nusa, Yogyakarta’s director of operations for Pertamina Lubricants on Monday.

Bangkok-based Amaco Production is one of the leading lubricants producers in Thailand under the ‘AMCO’ brand. It owns a blending plant with the capacity to produce 45,000 metric tons of lubricants products per annum.

“It would be the first for Pertamina Lubricants,” Andria said, adding that the company is pursuing inorganic growth.

“The acquisition will give us access to market opportunities in Thailand. We also plan to use Thailand as a base for expansion in Indochina.” Andria declined to disclose the value of the transaction.

Looking ahead, Andria said Pertamina Lubricants will continue to seek acquisition opportunities overseas, particularly in China.

“We have been looking and sizing up several mid-sized lubricant producers in China,” said Andria, explaining that acquisitions helped Pertamina Lubricants to quickly establish a local presence.

Domestically, Pertamina Lubricants intends to maintain its dominance.

“Our market share is 60 percent and we don’t want to fall below that level,” said Andria, adding that the company has benefited greatly from Indonesian consumer loyalty to domestic-made products.

“In Indonesia, if there’s a domestic-made product of similar price and quality to that of a foreign-made product, consumers will choose the former,” he said.

Pertamina Lubricants is targeting 10 percent growth in revenue, Andria said. “Last year, our revenue was around Rp 10 trillion [$853 million]. This year, the forecast was Rp 11 trillion.”

Pertamina Lubricants intends to market and sell more premium products, which have a higher profitability. “Indonesian consumers are getting more sophisticated,” Andria said. “They want better, higher quality products.”

This acquisition marks the latest expansion in the downstream, or retail and distribution, business.
http://jakartaglobe.beritasatu.com/...e-amaco-leading-lubricants-producer-thailand/
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PT PERTAMINA LUBRICANTS TO BUILD LUBRICANT BLENDING PLANT IN CHINA
F&L Asia / December 16, 2015


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Photo courtesy of PT Pertamina Lubricants.
A subsidiary of Indonesia’s state-owned oil and gas company, PT Pertamina Lubricants, plans to build a lubricant blending plant in China in 2017.

Gigih Wahyu Hari Irianto, president director of PT Pertamina Lubricants, said the plant in Guangzhou, in southern China, will be built with a maximum annual production capacity of 100,000 kiloliters.

He said PT Pertamina Lubricants plans to have a Chinese partner, without naming the company.

PT Pertamina Lubricants currently operates lubricant blending plants in Gresik, East Java, Cilacap, Central Java, and Indonesia’s capital city Jakarta.

PT Pertamina Lubricants also has a stake in a Thai lubricant company that allowed it to quickly build its market presence in Thailand. The Thai plant has a lubricant blending capacity of 60,000 kilolitres per year.

With the announcement of establishing a manufacturing presence in China, the company continues its plan to broaden its lubricant footprint in the region.
http://fuelsandlubes.com/pt-pertamina-lubricants-to-build-lubricant-blending-plant-in-china/

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Pertamina Lubricants to Build Factory in China in 2017


Jakarta. A subsidiary of Indonesian state-owned energy company Pertamina plans to open a lubricant plant in China in 2017 as part of a regional expansion drive.

Gigih Wahyu Hari Irianto, the president director of Pertamina Lubricants, said on Sunday that the plant in Guangzhou would likely have maximum annual production output of 100,000 kiloliters of lubricant.

He added that Pertamina Lubricants would work with a Chinese partner to smooth the regulatory process, but did not name the company.

“The process is currently underway. We’re still preparing,” Gigih said.

Pertamina Lubricants currently operates plants in Gresik, East Java; Cilacap, Central Java; and Jakarta. It also has a factory in Thailand. The combined capacity of its plants is more than 460,000 kiloliters per year.

The Thai plant, with a production capacity of 60,000 kiloliters per year, was acquired through purchasing a 74 percent stake at local producer Amaco Production.
http://jakartaglobe.beritasatu.com/business/pertamina-lubricants-build-factory-china-2017/

 

[CountStrike]

GT Radial Gets Serious About Chinese Tires for America

GT Radial has two problems in the U.S. market. The first is that you’ve probably never heard of the company. The second is that, since it’s a Chinese tire maker, you probably aren’t interested in hearing about it. But GT Radial provides original-equipment fitments on over 100 models in its home market, including General Motors, BMW, and Mercedes-Benz products. GM even named it supplier of the year in 2005 and 2006.

Going back to that second problem, GT Radial’s newest tire, the Champiro HPY is meant to change most shoppers’ perspectives on Chinese tires. At a launch event in Phoenix, vice president of sales Tom McNamera told the crowd, “I’m not interested in competing with Linglong, we want to show that we can hold our own with the top-tier tire companies.” So to that effect the Champiro HPY is GT Radial’s first Y-rated tire.

GT Radial’s presentation on the Champiro HPY showed a performance test comparing its new tire to other unnamed performance tires, and the results look good. We also had a chance to take a few laps around a road course and do a short slalom exercise in Champiro HPY–equipped cars. Based on our brief experience, it looks like GT Radial’s claims should hold up. The laps weren’t driven at the limit, but the HPY seems like it has a good amount of grip and returns good feedback to the driver.

The one thing that GT Radial does have in common with other Chinese tires is a low price of entry. Prices vary from dealer to dealer, but the HPY should cost anywhere from $105 to $150 in sizes ranging from 17 to 20 inches. That’s about half the price of high-end rubber from the likes of Michelin, Continental, Goodyear, and Bridgestone. We’ll be sure to investigate how the HPY compares to the competition in a future tire test.

Old News

Indonesia's Indomart retail shop entered South Africa

Jakarta: Indomaret officially open a branch in Johannesburg, South Africa at the end of last month. Indonesia's Ambassador in Pretoria, Sjahril Sabaruddin, attended the launching ceremony of Indonesia's first market franchise in Africa. "The community and local businessmen, foreigners, Namibia and Zimbabwe businessmen, as well as Indonesians living in South Africa are very excited about the store's opening," Director General of National Export Development, Ministry of Trade, Gusmardi Bustami, said on Friday, February 8.

The opening of this store is a joint effort initiated by the Trade Ministry, the Indonesian Embassy in Pretoria, ITPC Johannesburg and national businesses. The initiative was launched during the Trade Mission led by Deputy Trade Minister in early 2012, following up to the working visit of the trade Minister of Trade in 2011-end.

The cooperation is further developed through Indonesia's participation in the Africa Big Seven Exhibition, held in mid 2012, which was participated by 24 food and beverage companies including PT Mayora, PT Orang tua Group, PT Marimas, PT Indofood, and PT Garuda Food.


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Telkom builds 3rd data
center in Singapore
Khoirul Amin, The Jakarta Post, Jakarta | Business | Sat, June 06 2015, 11:24 AM


Business News

• XL to halve hefty debts to save bottom line
• GMF seeks to net more third-party clients
• Multifinance companies to handle govt-backed loans

State-run telecommunications firm PT Telekomunikasi Indonesia (Telkom) has officially kicked off the development of a new data center in Singapore to support its ambitious goal of becoming a world-class information and technology company.

The firm’s business arm in the city-state, PT Telekomunikasi Indonesia International Pte. Ltd Singapore (Telin Singapore), held a groundbreaking ceremony attended by a number of high-ranking officials for the construction of the data center in the Jurong area on Friday.

Among those in attendance were Indonesian State-Owned Enterprises Minister Rini Soemarno, Singaporean Senior Minister of State Lee Yi Shyan and Indonesia’s Ambassador to Singapore, Andri Hadi.

Telkom president director Alex J. Sinaga said that the new data center — dubbed Telin-3 — would become Telin Singapore’s third data center after those in Changi and Tai Seng.

“The new data center, which is set to start operating in the third quarter of next year, is expected to strengthen Telin Singapore’s position as Telkom’s strategic hub connecting Indonesia and other parts of the world,” he said in a statement.

Singapore was ranked first of 143 countries in this year’s global network readiness index, surpassing last year’s champion Finland, according to a report from the World Economic Forum (WEF).

Network readiness is defined as a nation’s level of preparedness to participate in and benefit from information, communications and technology (ICT) developments.

Singapore is now a battleground for the world’s leading data center operators, such as Equinix, SingTel and StarHub.

Telin Singapore CEO Septika Noegraheni Widyasrini added that the construction of the new data center marked a pivotal step for the company, with its business value set to soar.

Telin-3 was designed to fulfill demand for premium data centers, not only in Singapore, but also in the regional and global markets, Alex said.

“Telin-3 is one of our investments overseas that is in line with our growth strategy to strengthen our service in connecting business partners and customers in a digital supply chain,” he went on.

He added that the new five-storey data center was set to be constructed on an 8,000 square-meter plot of land with a 20,000 sq m gross floor area.

Telkom has previously stated that total investment for Telin-3 will hit US$115 million.

Alex said that he was confident that market potential for the new data center remained big both in Singapore and other countries.

The data center market in Southeast Asia is forecast to grow by 18.05 percent in compound annual growth rate (CAGR) for the period of 2014 to 2019, driven by surging demand for cloud computing and big data analytics, according to research by research firm TechNavio.

Other than in Singapore, Telkom currently has three data centers in Indonesia run by its subsidiary TelkomSigma.

The data centers are located in Serpong in Tangerang, Surabaya in East Java and Sentul in West Java, according to information published on the company’s website.

- See more at: http://www.thejakartapost.com/news/...ta-center-singapore.html#sthash.b6nNK67w.dpuf

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Indonesia's Salim building noodle plants in Serbia, Kenya
SADACHIKA WATANABE, Nikkei staff writer

Offering a variety of flavors, Indomie instant noodles are popular in such markets as Indonesia and Malaysia.

JAKARTA -- As competition in instant noodles heats up at home, Indonesian conglomerate Salim Group is looking to tap new growth markets in the Balkan Peninsula and East Africa.

A Salim-affiliated food company will build a noodle plant in Indjija, located northwest of the Serbian capital of Belgrade, at a cost of 11 million euros ($15 million). Construction will begin this year, with the plant set to come onstream in 2015. Products made there will include the Indomie brand of instant noodles sold by core group firm Indofood Sukses Makmur. Production capacity has not been disclosed.



In Serbia as well as neighboring Macedonia, Bulgaria and Romania, Salim sells products imported from Indonesia and elsewhere through a joint venture with a Saudi-affiliated company. The new plant will serve these markets.

Salim also teamed up with the Saudi firm to foray into Kenya, constructing an instant-noodle factory in the port city of Mombasa. According to an Indonesian newspaper, investment in the plant, which offers annual output capacity of up to 115 million units, reached $7.3 million.

In West Africa, Salim operates a Nigerian instant-noodle factory owned by Indofood and a local company, boasting a majority share of the Nigerian market. It also supplies neighboring nations. By setting up the new site in Kenya, Salim plans to expand its reach to both sides of the continent.

Indofood's annual output capacity of instant noodles tops 16 billion units. In recent years, it has sought to diversify earnings by bolstering its lineup of higher-margin goods such as dairy products and health foods. As part of overseas expansion, the company has acquired a Chinese food processing company and a Brazilian sugar processor.

Sales at Indofood rose 11% on the year to 41 trillion rupiah ($3.4 billion) in the January-September period of 2013, but net profit plummeted 25% owing to foreign exchange losses and other factors.

http://asia.nikkei.com/Business/Companies/Indonesia-s-Salim-building-noodle-plants-in-Serbia-Kenya

 

[CountStrike]

Pertamina International targets production of 104 thousand barrels per day
Rep: Fira Nursya'bani/ Red: Julkifli Marbun

Republika/Edwin Dwi Putranto

Fasilitas produksi energi panas bumi yang dioperasikan oleh PT. Pertamina Geothermal Energy Area Ulubelu, Lampung, Senin, (14/12) malam.Republika/Edwin Dwi Putranto

REPUBLIKA.CO.ID, JAKARTA -- PT Pertamina International Exploration and Production (PIEP), which is a subsidiary of Pertamina, was targeting production of 104 thousand barrels on average per day (BOEPD) in 2016.

"Although the oil price decline, we continue to target higher production in the next year," said President Director of PIEP, Slamet Riadhy, in a press conference, in Jakarta, Tuesday (22/12).

He explained, in 2015 PIEP targeted 94 thousand BOEPD, but the realization has actually increased. Production of PIEP until November 2015 reached 113.4 thousand BOEPD.

"This achievement was due to government cooperation with foreign countries, such as Malaysia, Iraq, and Algeria," he added.

PIEP was processing oil in three blocks in Malaysia, Iraq and Algeria. Of the three countries, in 2015, PIEP gained 80 thousand BOEPD. PIEP also gained 112 thousand MMCFGD gas in Algeria, and 96 thousand MMCFGD gas in Malaysia.

The total production of the three blocks reached 113.4 thousand BOEPD of oil and gas. Meanwhile, Pertamina was targeting a net profit in 2016 to reach Rp 22.5 trillion, equivalent to 1.61 billion US dollars.

Pertamina International targets production of 104 thousand barrels per day | Republika Online

 

[CountStrike]

Multistrada signs Kazakhstan tyre factory contract
Wednesday 10th December 2014 | 0 Comments

According to Indonesian news agency Antara News, tyre maker PT Multistrada Arah Sarana – manufacturer of the Achilles, Corsa and Strada tyre brands – has signed a contract to build a production facility in Kazakhstan. The agency quotes Kazakhstan’s ambassador to Indonesia, Ashkat Orazbay, as stating that “a contract has been signed between Multistrada Indonesia and a Kazakhstan-based company to build a tyre factory.” Antara News did not report the name of the Kazakhstani company or give any further details about the project.

This is not the first time Multistrada has signed an agreement to build a plant in Kazakhstan, nor is the Indonesian company the first tyre maker to consider a joint venture within the country. On 13 April 2012, PT Multistrada Arah Sarana and sovereign wealth fund Samruk-Kazyna (Самрук-Қазына) signed a Memorandum of Understanding to build a 3 million tyre a year factory in Kazakhstan; plans were for this facility to service the both the domestic market and the country’s trading partners. Reports from Indonesia in January of this year suggested that Multistrada had cancelled this plan. It is not yet known whether the deal reported by Antara News is linked to this previous MoU.

An earlier attempt to develop a Kazakhstani tyre industry, a plan that eventually came to nothing, was Nokian Tyres’ interest in setting up a factory there. On 19 October 2007, the Finnish tyre maker signed an agreement with Kazakhstani multi-industrial company Ordabasy Corporation JSC to build a greenfield passenger car tyre factory in the capital, Astana. Nokian Tyres was to hold a ten per cent share in the Ordabasy – Nokian Tyres JSC joint-venture, with the option of increasing its ownership to a minimum of 50 per cent. The plant was expected to be operational some time in 2009 and reach its full capacity of four million tyres per annum by 2012 or 2013. The project was quietly placed on hold, indefinitely, during the 2008 financial year. In the company’s financial review for the period, it wrote that factory construction had been stopped by mutual agreement and “due to tighter financing conditions.” At the time, Nokian said the project might recommence in late 2010 at the earliest. The €12 million advance payment for technical support it had received from Ordabasy was returned.

Indonesia's Telkom to pay about $300 mln for Guam telecom firm -source


* State-controlled firm's biggest overseas acquisition

* Gearing up overseas expansion after Indonesia deals

* Telkom retains low debt-to-equity ratio (Adds Telkom M&A spending, debt gearing, names of advisors)

By Denny Thomas and Cindy Silviana

HONG KONG/JAKARTA, June 12 State-controlled PT Telekomunikasi Indonesia Tbk has agreed to pay about $300 million to buy Pacific island Guam's telecom and pay-television operator GTA, people familiar with the matter told Reuters, in what will be the biggest overseas acquisition by the Indonesian firm.

Earlier this month Indonesia's biggest telecom operator, known as Telkom, with a market value of $21.7 billion, agreed to buy GTA from Japanese private equity firm Advantage Partners without disclosing the deal's value. The people familiar with the matter declined to be identified as the deal value wasn't public.

The acquisition comes as Telkom gears up efforts to expand overseas operations after a raft of mostly smaller deals in Indonesia in the past five years. Indonesian telecom firms face stiff competition and high operating costs at home, while the government is seeking consolidation in the sector.

Overall, the company has spent about $2.2 billion on mergers and acquisitions since 2005, excluding the latest deal, according to Thomson Reuters data. Telkom's appetite for overseas deals comes as the Indonesian government also wants it to lead a planned $24 billion broadband expansion in the country over the next five years.

The deal will expand Telkom's overseas footprint beyond existing business in Singapore, Hong Kong, Australia, the United States and Myanmar among others. In January a plan to buy New Zealand's 2 Degrees was abandoned over a disagreement on price.

The Guam firm provides domestic wireless, fixed-line, broadband and pay-television services. The island's geographic location also gives GTA a strategic role as a landing point in undersea cable traffic between Asia and the United States, meaning the purchase may help Telkom boost its global profile.

GTA and Telkom are part of a consortium working to build capacity to meet growing demand for bandwidth between Southeast Asia and North America.

Telkom director Honesti Basyir declined to confirm the deal's value in a text message to Reuters. But he said the company will fund the acquisition through bonds and equity.

Telkom beat a host of private equity firms and telecom operators to win an auction for GTA managed by Citigroup, the people familiar with the matter said. Deloitte advise Telekom on the purchase, they said.

Citigroup declined to comment, and Deloitte officials weren't immediately available to comment.

Advantage Partners acquired GTA in 2010 and is selling it, as part of a regular portfolio reshuffle, for a return that it "multiple" times its initial investment, one person said.

Telkom's debt-to-equity ratio of 0.35 percent was below the industry average of 0.47 percent, according to Thomson Reuters data, leaving ample room for it to take on more debt to pursue more acquisitions. (Additional reporting by Eveline Danubrata in JAKARTA; Editing by Kenneth Maxwell)
UPDATE 1-Indonesia's Telkom to pay about $300 mln for Guam telecom firm -sources| Reuters

 

[CountStrike]

Japan, Indonesia to invest in Thai-Russian sugar refinery near Khabarovsk



Japan and Indonesia will invest in a Thai-Russian sugar refinery in the Sovetskaya Gavan Special Economic Zone in the Russian Far East.

The refinery, being built near the city of Khabarovsk, is a joint venture between Thailand's Sutech Engineering (80 percent) and the Khabarovsk Territory Administration, which has a 20 percent stake and is providing the land for the project.

Indonesia will supply technical equipment while Thai and Japanese banks will provide financial assistance for the project.

The refinery is expected to process 1,500 tons of sugar per day.

"We will use both Russian and imported raw materials for sugar production," Nikolay Brusnikin, an official with the Khabarovsk Administration TASS.

The mill is expected to start production in May 2016, and is the first major Thai investment in the Russian Far East.

Under the joint venture agreement, the Khabarovsk Administration will take over the mill in 2046.

Laos News - Japan, Indonesia to invest in Thai-Russian sugar refinery near Khabarovsk

 

[CountStrike]

Azerbaijan, Indonesia to Deepen Energy Cooperation

Azerbaijan and Indonesia have agreed to further expand cooperate in the energy sector.

An agreement was signed on Monday in Baku during the Azerbaijan-Indonesia Energy Forum by Azerbaijani deputy minister of energy Natig Abbasov and Director General for Oil and Gas at Indonesia's Energy and Mineral Resources Ministry Gusti Nyoman Wiratmaja Puja, reportedstate news agency Azertag.

"Success Azerbaijan has gained in the oil and gas industry paves the way for our cooperation with other countries. Indonesia is one of these countries," the Azerbaijani minister said. “Both countries have great energy potential. Azerbaijan can share its experience in the energy sector with Indonesia, and the forum is of great significance from this point of view. One of the key objectives of the forum is to explore a range of areas the two countries can cooperate in.”

Director General for Oil and Gas at Indonesia's Energy and Mineral Resources Ministry Gusti Nyoman Wiratmaja Puja emphasized Indonesia`s interest in expanding cooperation with Azerbaijan in the energy sector. He said mutual investment in the field of energy, especially active participation of the private sector, would make a significant contribution to the development of the bilateral relations.

The event also focused on the partnership between the Azerbaijani State Oil Company (SOCAR) and Indonesian state oil company Pertamina, the news agency reported.


SOCAR, Pertamina to deepen energy cooperation

 

[Indos]

(Dont forget to put photo for the article to make it more interesting to read)

PT Pertamina Oil Field in Algeria