Arwana to invest Rp. 170 billion

The Investor Daily-October 28, 2008 Indra Bachtiar, corporate secretary of PT Arwana Citramulia Tbk (Arwana), told that Arwana allocated Rp 170 billion to enlarge the factory plant III in Cikande, Banten. The production capacity of the new factory would reach 7,5 million m² per year for ceramic with size 30X30 cm, and 40X40 cm. Arwana experienced increasing in sales for the third quarter of 2008 as much as Rp 480 billion or increasing 27% compared with the same period in 2007. Currently, Arwana holds 10% of total market share of ceramic industry in Indonesia.

adjoining with Ericsson, Axis to set up 2,100 BTS

The Investor Daily-October 28, 2008 PT Natrindo Telepon Seluler (NTS), Axis operator, appointed Ericsson to assist the network expansion of the company by supplying mobile backhaul solution with optic products and microwave for Axis network in area of Jakarta and surroundings, Banten, and Sumatra. Axis, until now, has built 2,000 based transceiver station (BTS) and has registered 2 million customers.

Qtel may take over 65% shares of Indosat

The Investor Daily-October 28, 2008 Abdullah Zainie, vice chairman Board of Supreme Audit Board (BPK), deemed that Bank Indonesia had ignored the recommendation from the board about consolidated financial statement of BI 2006. Based on the recommendation, the board asked BI to take direct action in order to save Indover or soon to liquidity Indover because it had been a burden for BI.

Morgan Stanley to expand to Indonesia

The Kompas Daily-October 28, 2008 The US investment company, Morgan Stanley plans to open new operation in Indonesia which is named PT Morgan Stanley Asia Indonesia (MSAI) in November 2008. Inghie Kwik, president director of MSAI, stated that the company had obtained the license from Supervisory Agency for Stock Exchange and Financial Institution (Bapepam-LK) to operate and open new office in Indonesia.

BTPN performance in quarter-III 2008

The Kompas Daily-October 28, 2008 In the third quarter of 2008, PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) recorded operational profit worth Rp. 504,3 billion that grew 35% compared with the third quarter of 2007. The net profit of the bank reached Rp 323,2 billion, increase 32.1 percent. Gross NPL (Non-Performing Loan) ratio of the bank decreased 1.9 percent becoming 0.77 percent.

Airline companies need support

The Kompas Daily-October 28, 2008 In order to open new route for tourism destination, airline companies still need support from the Government. Purwatmo, corporate secretary of PT Merpati Nusantara Airlines, said there are two things to overcome this problem, the first is the support from investors who have focus on tourism industry, and the second is the local government support to ameliorate the tourism facilities.

DG of AHU responds the summon

The Kompas Daily-October 28, 2008 Director General (DG) of Public Law Administration (AHU), Syamsuddin Manan Sinaga came to Attorney General Office (AGO) to pay the summon from corruption crime investigation unit of the office. Last Friday, head of central information of AGO Jasman Panjaitan announced two arraigned persons in corruption allegation of Sisminbakum (computerized system of legal entity administration), who are former DG of AHU Zulkarnain Yunus and DG of AHU Syamsuddin Manan Sinaga. AGO also mentioned a company namely PT Sarana Rekatama Dinamika, that is accused to obtain the profit from the system.

Director of KPLP asks partners to give 8 percent

The Kompas Daily-October 28, 2008 Company partners of Department of Transportation (Dephub), Kresna Santosa from PT Pruskoneo Kadarusman, Suratno Ramli and Dwi A Ningsih from PT Fibrite Fibreglass, and Budi Suhairi from PT Carita Boat bore witness yesterday against the defendant Deddy Suwarsono, managing director of PT Bina Mina Karya Perkasan. In their witness, they were instructed by director of coast and maritime securing unit (KPLP) Djoni Anwir Algamar to give 8 percent to Bulyan Royan and 8 percent to Dephub in patrol ship procurement process.

THE FIRST INDONESIAN YOUTH CONVENTION, 28 OCTOBER 1928

POETOSAN CONGRES
PEMOEDA-PEMOEDA INDONESIA

Pertama: KAMI POETRA DAN POETRI INDONESIA MENGAKOE BERTOEMPAH DARAH JANG SATOE TANAH INDONESIA

Kedoea: KAMI POETRA DAN POETRI INDONESIA MENGAKOE BERBANGSA JANG SATOE BANGSA INDONESIA

Ketiga: KAMI POETRA DAN POETRI INDONESIA MENDJOENDJOENG BAHASA PERSATOEAN BAHASA INDONESIA

Sumber: Museum Sumpah Pemuda, Jakarta (Dikutip dari Harian Kompas 27 Oktober 2008)

BI to support Indover Bank worth Rp 7 trillion

The Kompas Daily-October 24, 2008 The meeting between Bank Indonesia and Commission IX House of Representatives decided yesterday to support Indover Bank by injecting fund worth Rp. 7 trillion. “Indover would be very reasonable to be divested. We would provide the fund that taken from BI’s supernumerary fund. The divestment result, we expect could substitute the fund that we have used in these rescuing efforts,” Boediono, Governor of BI said.

Semen Gresik obtains loan Rp 12 trillion

The Investor Daily-October 24, 2008 Sunardi Prionomurti, corporate secretary of PT Semen Gresik Tbk, stated that several domestic and foreign financial institutions had offered their commitment to give the loan as much as Rp. 12.18 trillion to the company. Semen Gresik plans to set up two new factories in Java worth US$355 million and in Sulawesi worth US$315 million with capacity of 2.5 million tons per year respectively.

The Investor Daily-October 24, 2008

The Investor Daily-October 24, 2008 Gaby Abdelneur, chief executive officer of JP Morgan Asia, affirmed that the company never thinks to take over Bakrie in spite of the company’s default. The statement was released after meeting with Vice President Jusuf Kalla yesterday in Vice President Office. Bakrie currently still has debt due in 2010 to JP Morgan US$98.5 million. Besides JP Morgan, the company also has debt due in 2009 to Recapital Securities worth Rp 189 billion, PNM Investment Management worth Rp. 231.81 billion, and Oddickson Finance worth US$1.016 billion.

Profit of Jaya Pari Steel soars 159,26%

The Investor Daily-October 24, 2008 Net profit of PT Jaya Pari Steel Tbk reached Rp. 99.941 billion per September 2008, increasing 159,26% compared with the same period in 2007 that was Rp. 38.548 billion. The sales increase has been the main factor behind this progress that increased 111,46% from Rp. 305.005 billion to Rp. 644.965 billion.

Indika Energy invests US$866 thousand

The Investor Daily-October 24, 2008 PT Indika Energy Tbk invests US$866 thousand by forming a joint venture between one of its subsidiaries, PT Indika Inti Corpindo, with South Korea-Samtan Co Ltd. Arsjad Rasjid, managing director of the company, in his public report said “this joint venture will be located in Indonesia aims to develop coal exploration business.”

Banking profit grows slightly

The Investor Daily-October 24, 2008 Management of PT Bank NISP Tbk and PT CIMB Niaga Tbk succeed to keep the positive growth until the third quarter 2008 despite it was slight increase about 8,5-10% due to global financial crisis. NISP has recorded net profit worth Rp. 227,3 billion, increasing 10% that compared with September 2007, while Bank CIMB Niaga earned net profit as much as Rp. 590 billion in 2008, slightly different if compared with last year’s value that was Rp. 590,23 billion.

Wood panel demand decreases 60%

The Investor Daily-October 24, 2008 Amir Sunarko, managing director of PT Sumalindo Lestari Jaya Tbk, predicted that the wood panel demand had been decreasing 60% during current global financial crisis. He said that the global buyers were delaying their purchase to wait for ultimate drop of the price. In fact the wood panel price has dropped 15% than the normal price. On the other side, Jimmy Chandra, board of director of Indonesian Wood-Saw and Processed-Wood Association, is questioning why Indonesia that has a lot of basic materials of wood is experiencing the material shortage, while China and Malaysia that actually don’t have basic material are experiencing the drastic increase approximately 1.850% for the last sixteen years. Moreover, according to David, vice managing director of Sumalindo, Indonesian production of wood panel has been decreasing from 10 million m³ to 3 million m³ for the last sixteen years.

Electronic market soars 23%

The Investor Daily-October 24, 2008 Handojo Soetanto, secretary general of Electronic Marketer Club (EMC), said that national electronic sales realization soared 23%, from Rp. 11,07 trillion in January-September 2007 to Rp. 13.6 trillion in January-September 2008. According to him, the increasing purchasing power of people outside of Java has been significant factor that influences the progress. “Since second semester last year, the price of primary commodities such as palm oil, coffee, and copra has increased sharply so that the purchasing power of farmers outside of Java strengthens,” he said.

Albaraka to accomplish acquisition of Bank Kesawan

The Koran Tempo Daily-October 24, 2008 Albaraka Banking Group would accomplish the acquisition process of Bank Kesawan about 51-70% in November 2008. Previously, President and CEO of Albaraka, Adnan Ahmed Yousif stated that his company is ready to acquire two or three small banks in Indonesia worth US$50-100 million and would open 30 branch offices entire Indonesia that focus on retail financing and international trade, mostly for Middle East countries.

Small Mining Companies Stop Production

Tempo Interaktif-October 24, 2008 Small mining companies have ceased their production activities due to the global financial crisis. “Nickel mining companies in East Nusa Tenggara have already stopped producing,” said the head of the Indonesia Coal Mining Association Jeffrey Mulyono yesterday.

PT Timah may reduce tin output

The Jakarta Post Daily-October 23, 2008 Facing the credit crisis, PT Timah, the world’s second largest tin miner, would cut its production 6.3 percent due to the price drop in this commodity. Hence, Timah may produce only 45,000 metric tons this year. World tin price has dropped about 49% for the last six months.