[Kabar-indonesia] 13 Biz/Economy Reports: Tax incentives; Astra; BI; Palm oil; Permata
Joyo at aol.com
Joyo at aol.com
Tue Nov 14 15:44:20 MST 2006
13 Reports:
- Indonesian govt to provide tax incentives to 15
industries - ministry document
- Fitch assigns final "B" rating to Indonesia's Pakuwon
Jati 110 mln usd notes
- Indonesia Permata coupon seen at 13.5-14.25 pct
- Bank Indonesia sees outstanding loans growing by 18.22
pct this year - report
- Five small Indonesian banks plan merger
- Indonesia's Oct vehicle sales down 41 pct y/y
- Indonesia Astra Oct Car Sales Fall 33% On Month To
12,270
- U.S. Chamber pledges support in Indonesia GSP lobby
- Indonesian imports from Sweden up 50 pct in Jan-Sept
- Indonesian shipbuilding firm gets orders for eight
tankers
- Indonesia's Berlian Laju Tanker 9-mth net profit 1.08
trln rupiah vs 390.03 bln
- Indonesia to develop 500,000 hectares of small-holders
forests in 2007
- Indonesian palm oil higher on demand, thin stocks
------------
Indonesian govt to provide tax incentives to 15 industries -
ministry document
JAKARTA, November 14 (XFN-ASIA) - The government plans to
provide tax incentives to 15 industries in a bid to boost
their investments, a finance ministry document said.
Among those that will receive the incentives are the food,
textile, pulp, chemical, rubber, metal and steel, machinery
and electronic industries, the document, obtained by the
media, said.
The government also plans to offer tax incentives to nine
industries in certain regions, the document said. The
purpose is to encourage companies to relocate or establish
plants in those regions, it said, adding however that the
exact locations have yet to be finally determined.
Finance Minister Sri Mulyani Indrawati meanwhile told
reporters that a government decree providing the legal basis
for the tax incentives is being finalized and will soon be
presented to President Susilo Bambang Yudhoyono to be
signed.
---------------------------------------
Fitch assigns final "B" rating to Indonesia's Pakuwon Jati
110 mln usd notes
JAKARTA, November 14 (XFN-ASIA) - Fitch Ratings said it has
assigned a final rating of 'B' with a recovery rating of
'RR4' to the 110 mln usd guaranteed secured notes, due 2011,
issued by Pakuwon Jati Finance B.V. and guaranteed by PT
Pakuwon Jati.
The rating action follows the completion of the notes issue.
Pakuwon is a listed company involved in commercial property
investment and development and residential property
development, primarily in Surabaya, East Java, but with
plans to expand into Jakarta in the future.
---------------------------------------
Indonesia Permata coupon seen at 13.5-14.25 pct
JAKARTA, November 14 (Reuters) - Indonesia's PT Bank Permata
Tbk said on Tuesday it plans to offer a coupon rate of
between 13.5 and 14.25 percent for its 500 billion rupiah
($54.82 million) bonds.
Permata, jointly owned by Standard Chartered and Indonesia's
largest automotive distributor, PT Astra International Tbk ,
said the proceeds from the 10-year paper would be used to
strengthen its capital base and increase lending.
"The funds would be used for long-term loans and to
strengthen our capital structure," said corporate secretary
Imam Teguh Saptono.
"With this bond issuance, we hope the capital adequacy ratio
of the bank could be increased to 13.5-14 percent from 11.7
percent at the end of September."
Standard Chartered Securities Indonesia, a local brokerage
arm of Standard Chartered, will handle the issue.
Bank Permata reported around 20 percent growth in net profit
to 228.5 billion rupiah in the first nine months of 2006,
while its net interest income climbed to 1.44 trillion
rupiah from 1.29 trillion a year ago.
It has total assets of around 37 trillion rupiah and a
market capitalisation of about $730 million.
---------------------------------------
Bank Indonesia sees outstanding loans growing by 18.22 pct
this year - report
JAKARTA, November 14 (XFN-ASIA) - Bank Indonesia estimates
that outstanding loans by banks will grow to 863.3 trln
rupiah from 730.2 trln rupiah last year, an increase of
18.22 pct, overshooting the central bank's revised target
for loan growth of 15-16 pct, Bisnis Indonesia reported.
The newspaper quoted Bank Indonesia's bank regulation
director, Muliaman D Hadad, as saying that new lending by
banks in the last quarter of this year is estimated to reach
75.6 trln rupiah. The amount of new loans recorded in the
first nine months this year was 57.5 trln rupiah.
He said the increase in this quarter is being driven partly
by new lending by state-owned banks and banks owned by
regional governments after the central bank cut its
benchmark interest rate, the BI rate.
This month, Bank Indonesia cut the BI rate by 50 basis point
to 10.25 pct. It has now trimmed the rate by 250 basis
points since the end of last year.
---------------------------------------
Five small Indonesian banks plan merger
JAKARTA, November 14 (Asia Pulse/Antara) - Five small and
medium banks have indicated interest in a merger as
suggested by Bank Indonesia but 41 other banks still hope to
find investors to raise their capital to meet the minimum
limit set by the central bank under its banking
consolidation program.
A central bank executive Muliaman D. Hadad said the five
banks are still in the process of negotiations.
The central bank has issued a regulation requiring all
Indonesian banks to have at least Rp80 billion (US$8.8
million) in capital next year and Rp100 billion in 2010.
The ultimate goal of the regulation issued in 2005 is that a
national bank is to have at least Rp10 trillion in capital,
an international bank at least Rp50 trillion, a bank with
certain market segment at least Rp100 billion in 5-10 years
under the central bank's program of Indonesian Banking
Architecture.
Earlier Bank Indonesia said there were 41 of 131 Indonesian
banks having capital below Rp100 billion.
A number of small banks are already sold to foreign banks
such as Bank Haga and Hagakita, which were acquired by Dutch
Rabobank as they failed to find investors to raise their
capital.
----------------------------------------
Indonesia's Oct vehicle sales down 41 pct y/y
JAKARTA, November 14 (Reuters) - Following is Indonesia's
vehicle sales data from the Indonesian Automotive
Association (Gaikindo).
Brand/Company Oct 2006 Sept 2006 Oct 2005 -
Toyota 8,210 13,385 14,800 -
Astra International 12,270 18,412 19,723 -
Suzuki 3,425 5,303 4,508 -
Mitsubishi 2,591 5,794 5,839 -
Honda 949 2,355 -2,819 -
TOTAL 20,694 34,108 35,103
---------------------------------------
Indonesia Astra Oct Car Sales Fall 33% On Month To 12,270
JAKARTA, November 14 (Dow Jones)--Indonesia's PT Astra
International (ASII.JK) sold 12,270 new vehicles in October,
down 33% from 18,412 units sold in September, according to
data released Tuesday by the association of local vehicle
assemblers, Gaikindo.
Astra's October sales were down 38%on year. It sold 19,723
units in October last year.
Singapore's Jardine Cycle & Carriage Ltd. (C07.SG) owns
50.12% of Astra, which is Indonesia's largest automotive
company by output and assets.
Astra didn't give any reason for the on-month vehicle sales
decrease. Analysts, however, attributed the fall in October
to the long holiday for Idul Fitri. Indonesian markets were
closed from Oct. 23 to Oct. 27.
Total new vehicle sales in Indonesia for October fell 39% on
month to 20,694 from 34,108 in September. The nation's total
car sales in October were also down 41% from 35,103 units
sold in October last year, according to Gaikindo.
---------------------------------------
U.S. Chamber pledges support in Indonesia GSP lobby
JAKARTA, November 14 (Asia Pulse/Antara) - The U.S. chamber
of commerce and industry has pledged to help lobby the U.S.
government into maintaining General System of Preference
(GSP) facility for Indonesia.
Sojan Wanandi, chairman of the Association of Indonesian
Businessmen (Apindo) said the association had asked the U.S.
chamber of Commerce for support for Indonesia seeking to
extend the facility which will expire next year.
The United States Trade Representative said in June, the
U.S. government already extended the GSP facility for a year
until 2007 with no change in the types and volume of goods
involved.
Vice President Jusuf Kalla also raised the GSP issue during
his recent visit to the United States.
The U.S. offered GSP facility for Indonesian exports valued
at US$1.5 billion of the country's total annual exports of
US$12 billion to that country.
Among the Indonesian export commodities included in the GSP
facility are contact lens, plywood, ethyl alcohol and
processed meat.
----------------------------------------
Indonesian imports from Sweden up 50 pct in Jan-Sept
JAKARTA, November 14 (Asia Pulse/Antara) - Indonesian
imports from Sweden dominated by telecommunications
equipment, shot up 50 per cent to US$400 million in the
first nine months of this year from the same period last
year.
Swedish Ambassador to Indonesia Lennart Linner said
Indonesia remains one of Sweden's major trading partners,
especially for telecommunication equipment.
Linner said Indonesia is the third largest market for
Swedish hand phone products of Ericsson in Asia.
He predicted that Swedish exports to Indonesia would reach
US$600 million in the whole of this year.
Meanwhile, Indonesian exports to Sweden are dominated by
rattan products, timber, textiles and garments.
-----------------------------------------
Indonesian shipbuilding firm gets orders for eight tankers
JAKARTA, November 14 (Xinhua) -- Indonesian shipbuilding
firm PT Dok Koja Bahari has received orders from four
countries to manufacture eight liquid chemical tankers worth
202 million US dollars, a report said Tuesday.
The orders come from various companies in South Korea,
Greece, Malaysia and Singapore, reported leading economic
daily Bisnis Indonesia .
Each of the 1,600-ton tanker is priced at 25.25 million
dollars.
The local manufacturer has targeted to deliver the tankers
within two years.
----------------------------------------
Indonesia's Berlian Laju Tanker 9-mth net profit 1.08 trln
rupiah vs 390.03 bln
JAKARTA, November 14 (XFN-ASIA) - Shipping firm PT Berlian
Laju Tanker's nine months to September results:
Sales - 2.19 trln rupiah vs 1.86 trln Operating profit -
703.81 bln rupiah vs 681.48 bln Net other income - 380.95
bln rupiah vs charges 286.34 bln Net profit - 1.08 trln
rupiah vs 390.03 bln Earnings per share - 273 rupiah vs 95
-----------------------------------------
Indonesia to develop 500,000 hectares of small-holders
forests in 2007
Jakarta, November 14 (Xinhua) -- Indonesia has decided to
develop some 500,000 hectares of small-holders' forests in
2007 as part of its efforts to realize the targeted 2-3
percent growth in the forestry sector.
"We will try to realize it by accelerating the expansion of
plantation forests. We will encourage people to develop
plantation forests," Forestry Minister MS Kaban said here on
Tuesday after attending a discussion on "Making Well-
Informed Choices About Forests."
The minister said the forestry ministry is now trying its
best to carry out three agendas in the forestry sector. The
first agenda is to achieve the forestry sector's 2-3 percent
growth target which was part of the national economic growth
target of 5- 6 percent in 2009.
The second agenda is to boost the real sector in the
forestry sector which was based on small-and medium-scale
businesses in urban areas and timber business centers in
Java and outside Java.
The third agenda is to empower the local people in areas
around forests and in areas located within forests.
"We hope the forests can be preserved by carrying out
priority policies and the three agendas so that supply of
raw timber will be guaranteed and the welfare of the local
peoples improved," the Antara news agency quoted the
minister as saying.
------------------------------------------
Indonesian palm oil higher on demand, thin stocks
JAKARTA, November 14 (Reuters) - Indonesian palm oil prices
extended gains on Tuesday supported by strong local demand
and limited stocks in the market, traders said.
At the state marketing centre in Jakarta, which sells palm
oil from state plantations, crude palm oil rose to 4,563
rupiah ($0.500) a kg from 4,556 on Monday.
In North Sumatra's Medan, the main port for palm oil
exports, crude palm oil was also traded higher at 4,585
rupiah per kg compared with 4,553 on Friday.
There was no auction in Medan on Monday.
"The market was very active today with refiners jumping into
the market to buy more palm oil over fears of limited stocks
as output is likely to fall this month," a Medan trader
said.
Traders said above normal rains in some palm oil-growing
region in north Sumatra and dry weather in Kalimantan could
cut output in the last two months of the year.
In Jakarta, RBD palm olein was traded at between 4,950 and
5,000 rupiah per kg compared with 5,000 on Monday.
In the export market, November and December shipments were
offered at $470 a tonne, and bids seen at $465.
January, February and March shipments were traded at $472.5
in the morning session. But trading was a bit quiet in the
afternoon without any offers or bids recorded.
Traders said Indonesia exported roughly 1 million tonnes of
palm oil in October, slightly lower than 1.05 million in the
previous month.
"Exports are likely to remain strong this month, with India,
China and Pakistan remaining our primary market," a Jakarta
trader said.
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Joyo Indonesia News Service
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