[Kabar-indonesia] 21 RI Biz/Econ Reports: US$55 Bln Needed for Infrastructure; Sugar; IMF; BII
JoyoNews at aol.com
JoyoNews at aol.com
Fri Sep 15 13:29:31 MDT 2006
21 Reports:
- update: Indonesia needs about
US$55 bln for infrastructure projects
- Govt Allocates IDR2T ($218 million)
For Land Clearing
- Indonesia to issue sugar import
permits for 2007
- IMF chief said key topic for world
economy is how it will adapt to
slowing U.S. economy
- Indonesia's BII says to 'gear up' loan
extensions in Q4 this year
- Indonesian banks set to lower rates
for real estate sector
- update: IMF Ups Asia Growth
Outlook To 8.3% In 2006; 8.2% 2007
- Bank Niaga raises capital in subsidiary
by US$ 5 mln
- update: Global Insight: Telkomsel
Launches Indonesia's First 3G Service
- ST: IT skills for South Asian migrant
workers
- Indonesia's Mobile-8 Telecom to launch
IPO in November - report
- China's car "Cherry QQ" on market in
Indonesia
- Indonesia's Bakrie Sumatra sets up
subsidiary in Netherlands
- Indonesia's Tunggaladhi raises stake
in Berlian to 62.51 pct from 45.35 pct
- Arpeni aims to chalk up 30% increase
in income
- Indonesia's Media Nusantara 'B1'
rating affirmed - Moody's
- India accuses Indonesia of flooding
local nylon market
- Coffee exporters accuse Thailand
of violating AFTA agreement
- Indonesia palm oil prices ease
on Malaysia
- Indonesia's Bank Saudara to sell
33 pct stake via IPO
Indonesia needs about 55 bln USD for infrastructure projects
Jakarta, September 15 (Xinhua) -- Indonesia needs huge investments
of some 500 trillion rupiah (54.7 billion U.S. dollars) to finance over
100 giant infrastructure projects ranging from power plants to toll
roads, Vice President Jusuf Kalla said Friday.
"It's a very huge sum of money. We estimated at 500 trillion rupiah,"
he told reporters here.
"We need, among other things, 70 trillion rupiah (7.6 billion dollars)
for electricity, 50 trillion rupiah (5.47 billion dollars) for roads,
50 trillion rupiah for housing."
Kalla said the government is determined to launch the giant
infrastructure projects in the archipelago within the next three and
four years.
Indonesia will host the international infrastructure summit in
November, aiming to attract potential investors who will develop
partnership projects with the government.
The November investment forum will follow similar summit last year,
which failed to net the targeted investment value.
Of total 96 projects offered last year, only six projects attracted
investment bids.
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Govt Allocates IDR2T ($218 million) For Land Clearing
JAKARTA, September 15 (Dow Jones)--The Indonesian government
has earmarked IDR2 trillion ($218 million) to help investors in
infrastructure projects clear land, Bisnis Indonesia reported Friday.
The infrastructure projects which will benefit from the funds include
irrigation, roads, railroads, airport and seaport development, public
hospitals and clean water projects, Bisnis Indonesia reported, quoting
Minister of National Development Planning Paskah Suzetta.
----------------------------------
Indonesia to issue sugar import permits for 2007
JAKARTA, September 15 (Reuters) - Indonesia's trade minister said on
Friday the government plans to issue permits to import white sugar in
2007 to meet the gap between output and consumption.
The permit is likely to be issued in the next few weeks, but the
government has not decided on the amount it plans to import, Mari
Pangestu told Reuters.
"We are in preparation to issue white sugar import permits for 2007.
We are still calculating how much sugar we need for 2007," Pangestu
said.
Southeast Asia's largest sugar consumer expects to produce 2.48
million tonnes of white sugar this year compared with 2.24 tonnes in
2005, while annual consumption is estimated at 2.6-2.7 million tonnes
in 2006.
The country mainly imports sugar from neighbouring Thailand.
----------------------------------
IMF chief said key topic for world economy
is how it will adapt to slowing U.S. economy
SINGAPORE, Sept. 15 (AP): The chief of the International Monetary Fund said
Friday that a key topic for the global economy is how it will adapt to slowing
growth in the U.S., although so far the world has proved resilient in the face
of higher interest rates andsurging oil prices.
The IMF projects that global growth will rise 5.1 percent this year before
moderating a bit to a still strong 4.9 percent in 2007 - both a quarter-point
higher than it forecasted in April.
But it warned in its World Economic Outlook, released Thursday, that one of
the biggest risks to global growth was a likely slump in the U.S. economy
caused by a cooling of the housing market. It sees U.S. growth slowing to 2.9
percent next year from a projected 3.4 percent this year.
"One important question ... is how the world will adapt to a less buoyant
U.S. economy," Managing Director Rodrigo de Rato said during a press conference
in Singapore, which is hosting theannual meeting of the IMF and World Bank next
Tuesday and Wednesday.
The IMF-World Bank gathering is expected to draw 16,000 delegates and other
participants - but few protesters due to Singapore's ban on outdoor
demonstrations, citing concerns that street protests could be exploited by terrorists for
possible attacks.
In Indonesia, activists plan to gather on Batam island, a short ferry ride
from Singapore, to hold seminars, but protests have been banned.
De Rato said that the world economy has shown its toughness amid higher
energy prices and monetary tightening by the world's major central banks. "The
world economy has been able to respond positively," he said.
But he warned that "policymakers need to be ready to adapt to a more
difficult environment" in the coming year.
The IMF chief also said he foresees no quick fix to rectifying global
imbalances of trade and investment. Over the summer, the Washington-based institution
invited the U.S., China, Japan, Saudi Arabia and the 12-nation euro zone to
take part inmultilateral consultations on addressing the issue.
---------------------------------
Indonesia's BII says to 'gear up' loan extensions in Q4 this year
JAKARTA, September 15 (XFN-ASIA) - PT Bank Internasional Indonesia
(BII) plans to increase loans in the last quarter amid a climate of
falling domestic interest rates, a company official said.
"We will certainly gear up our loan expansion in the fourth quarter in
line with the declining domestic rates," BII's director Rudy N Hamdani
told XFN-Asia.
He said the bank recently cut its home and car loans to an average of
14 pct, compared to 17 pct in June. The reductions following Bank
Indonesia's move to cut its key policy BI rate by 50 basis points in
July, after a similar sized cut in May.
The central bank has given hints that the BI rate, presently at 11.25
pct could be cut to as low 10 pct by the end of the year as long as
inflationary pressures remain contained.
Hamdani said he expects BII's outstanding loans this year to grow by
25 pct from loans of 22.09 trln in 2005. In the first half to June
this year, its total outstanding loans grew 21 pct to 23.18 trln
rupiah.
------------------------------------------------------
Indonesian banks set to lower rates for real estate sector
JAKARTA, September 15 (Asia Pulse/Antara) - The national banking
sector will likely cut its interest rate, notably in the real estate
sector, in an effort to spur business activities following the
Insurance Deposit Agency (LPS)'s decision to lower its rupiah deposit
rate by half a per cent point to 11.25 per cent, a spokesman said.
The LPS' guarantee rate reduction has not only paved the way for
financial institution development, but also national economic
progress, publicly-listed Panin Bank vice president director Roosniaty
Salihin said here Thursday.
The reduction, she said, is a good move to revive infrastructure
development which has so been functioning as one of national economic
prime-movers.
Infrastructure project development in the country will hopefully
absorb a significant number of job seekers that in the long run would
improve the purchasing power of the public, she said.
She in this context hoped that infrastructure projects which had been
approved in the Infrastructure Summit held in Jakarta some time ago,
could be realized soon.
Roosniaty said the lowering of the bank's interest rate is not the
only way to boost economic growth if the real sector is still gloomy.
She also said the government should be capable of luring foreign
investors by providing them with attractive facilities.
Meanwhile Panin Bank's retail director Kostaman Thayib predicted that
banks may cut their rates by 50 points or more depending on their
capability to improve business performance.
The lowering of bank interest rates might cut cost of fund and
increase net interest margin of banks, he said.
-------------------------------------------------------
IMF Ups Asia Growth Outlook To 8.3% In 2006; 8.2% 2007
SINGAPORE, September 14 (Dow Jones)--Economies in emerging Asia will
grow faster than previously anticipated this year and next, largely
thanks to a vibrant expansion of the region's twin powerhouses, China
and India, the International Monetary Fund said Thursday.
The rosy outlook is despite concerns among many governments in Asia
about the impact of a likely slowdown in demand from major
export-absorbing countries, notably the U.S. and the economies of
Europe, and how far regional demand can counter that slowdown.
The IMF also said in its latest World Economic Outlook that the
region's current account surplus will likely continue to shrink,
although not in China, where it sees the surplus at a hefty 7.2% of
gross domestic product in 2006 and 2007.
That forecast will add further fuel to the heated debate over how
quickly China should let its currency appreciate.
The IMF said that a "more substantial appreciation of the currency"
would help deal with the large current account surplus and give
China's central bank more control over monetary conditions.
The level of the Chinese yuan against other currencies has been a
persistent source of conflict in recent years, with Washington in
particular calling for Beijing to allow it to appreciate to help deal
with global trade and investment imbalances.
While the most likely outcome is for a smooth private-sector led
reduction in those imbalances, the IMF says "the potential for a
disorderly unwinding of global imbalances remains a concern."
A planned meeting of Group of Seven finance ministers and central
bankers in Singapore Saturday and annual meetings of the International
Monetary Fund and World Bank that follow is likely to again highlight
these global imbalances and what role changes in exchange rates should
play in leveling the field.
The Washington-based body raised its forecast for growth in emerging
Asia, which excludes Japan, Australia and New Zealand, to 8.3% in 2006
and 8.2% in 2007. Those predictions compare with forecasts of 7.9% and
7.6% growth respectively in the IMF's previous report in April.
"The near-term risks to the outlook are broadly balanced for the
region, albeit with some differences across countries, depending on
external and financial vulnerabilities on the one hand and on the
exposure to growth in the advanced economies on the other," the report
said.
Within the region, growth will likely to weaken into 2007 in the newly
industrialized economies of South Korea, Taiwan, Hong Kong and
Singapore as demand for imports by advanced economies starts to slow.
At the same time, growth in Indonesia, Thailand, Philippines and
Malaysia should rise into next year as the damaging effects of high
oil prices and monetary policy tightening recede.
Still the regional economy could get a further boost going forward
were the Chinese and Indian economies to expand even faster than
anticipated. The IMF has already increased its forecast for growth in
the two nations to 10.0% and 8.3% respectively for this year and 10.0%
and 7.3% in 2007.
Japanese Rates Need To Rise To Normal Level
The possibility of a boom-bust cycle in China, higher oil prices,
protectionist action following the failure of the Doha trade round and
slower growth in leading economies, notably the U.S. and Japan, are
among the potential risks to regional growth, it said.
"To head off risks of rising inflation, policymakers in the region may
need to respond to increasing interest rates in the major currencies
areas - especially Japan - and to more testing international financial
market conditions, with some likely adverse effects on growth," the
report said.
The IMF forecasts consumer prices to rise 3.6% in emerging Asia this
year and 3.5% in 2007.
It also forecasts Japanese gross domestic product growing at a
slightly-slower-than-previously-anticipated pace of 2.7% this year and
2.1% next year. The 2007 forecast is virtually unchanged from the
previous prediction.
Japanese interest rates will have to rise to "more normal levels" the
report said, adding hikes should be gradual since the reemergence of
deflation would be costly. India also may need to tighten monetary
policy to counter inflationary pressures, it said.
Despite the threat of financial market turmoil, persistent current
account surpluses and hefty foreign exchange reserve accumulation in
recent years leave the region in a better position to weather a market
downturn.
The IMF forecasts that emerging Asia's current account surplus will
shrink a touch to 4.2% of GDP in 2007, down from 4.3% in 2006 and 4.7%
in 2005.
The IMF said any move toward exchange rate flexibility in China, would
have to be supported by a continuation of financial sector reform to
strengthen the economy's capacity to cope with greater interest rate
and exchange rate movements.
It also urged policy makers across the region to take advantage of
broadly favorable growth to implement structural reforms aimed at
promoting fiscal sustainability.
India, Pakistan and the Philippines in particular need to get their
books on a more sustainable medium-term footing, it said. [ 14-09-06
0200GMT ]
Following are the key forecasts for 2006 and 2007 annual percent
changes in gross domestic product and consumer prices from the
International Monetary Fund's World Economic Outlook published
Thursday. The figures in parentheses are the 2006 and 2007 forecasts
from the IMF's April World Economic Outlook.
Gross Domestic Product
2005 2006 2007
Emerging Asia 8.5% 8.3% (7.9%) 8.2% (7.6%)
Bangladesh 6.2% 6.2% (6.0%) 6.2% (6.3%)
China 10.2% 10.0% (9.5%) 10.0% (9.0%)
Hong Kong SAR 7.3% 6.0% (5.5%) 5.5% (4.5%)
India 8.5% 8.3% (7.3%) 7.3% (7.0%)
Indonesia 5.6% 5.2% (5.0%) 6.0% (6.0%)
Malaysia 5.2% 5.5% (5.5%) 5.8% (5.8%)
Pakistan 8.0% 6.2% (6.4%) 7.0% (6.3%)
Philippines 5.0% 5.0% (5.0%) 5.4% (5.6%)
Singapore 6.4% 6.9% (5.5%) 4.5% (4.5%)
South Korea 4.0% 5.0% (5.5%) 4.3% (4.5%)
Taiwan 4.1% 4.0% (4.5%) 4.2% (4.5%)
Thailand 4.5% 4.5% (5.0%) 5.0% (5.4%)
U.S. 3.2% 3.4% (3.4%) 2.9% (3.3%)
Japan 2.6% 2.7% (2.8%) 2.1% (2.1%)
Euro zone 1.3% 2.4% (2.0%) 2.0% (1.9%)
Australia 2.5% 3.1% (2.9%) 3.5% (3.2%)
New Zealand 2.3% 1.3% (0.9%) 1.7% (2.1%)
Consumer Prices
2005 2006 2007
Emerging Asia 3.4% 3.6% (3.8%) 3.5% (3.4%)
Bangladesh 7.0% 6.8% (6.1%) 6.1% (5.6%)
China 1.8% 1.5% (2.0%) 2.2% (2.2%)
Hong Kong SAR 0.9% 2.3% (1.8%) 2.5% (2.1%)
India 4.0% 5.6% (4.8%) 5.3% (4.9%)
Indonesia 10.5% 13.0% (14.2%) 5.9% (6.6%)
Malaysia 3.0% 3.8% (3.1%) 2.7% (2.7%)
Pakistan 9.3% 7.9% (8.4%) 7.3% (6.9%)
Philippines 7.6% 6.7% (7.4%) 5.0% (4.7%)
Singapore 0.5% 1.8% (2.0%) 1.7% (1.9%)
South Korea 2.7% 2.5% (2.5%) 2.7% (3.0%)
Taiwan 2.3% 1.7% (1.8%) 1.5% (1.5%)
Thailand 4.5% 4.9% (3.6%) 2.6% (2.2%)
U.S. 3.4% 3.6% (3.2%) 2.9% (2.5%)
Japan -0.6% 0.3% (0.3%) 0.7% (0.6%)
Euro zone 2.2% 2.3% (2.1%) 2.4% (2.2%)
Australia 2.7% 3.5% (2.8%) 2.9% (2.7%)
New Zealand 3.0% 3.8% (3.1%) 3.4% (2.8%)
--------------------------------
Bank Niaga raises capital in subsidiary by US$ 5 mln
JAKARTA, September 15 (Asia Pulse/Antara) - Bank Niaga (JSX:BNGA) has
increased its capital by Rp50 billion (US$5 million) in its subsidiary
PT Saseka Gelora Finance (SGF), a spokesman said.
Repayment was made on September 8 on the basis of Bank Indonesia's
approval and a decision was made to hold a special general meeting of
shareholders on Sept 1, BNGA director Tay Un Soo told the Jakarta
Stock Exchange (JSX) here on Thursday.
---------------------------------------------------------
Global Insight Daily Analysis
September 15, 2006
Telkomsel Launches Indonesia's First 3G Service
Jing Li
PT Telkomsel yesterday officially began offering Indonesia's first 3G
mobile service, following a successful trial operation last month, the
Jakarta Post reports. Currently, the service is only available in
Jakarta, the capital. Bambang Riadhy Oemar, Telkomsel's director for
planning and development, said that the company had built 300 base
stations in Jakarta to provide 3G services. He also said Telkomsel
would soon expand coverage to other cities, including Bandung in West
Java, Surabaya in East Java, and Medan in North Sumatra. The director
added that the company would increase the number of base stations to
600 by the year-end to enable it to provide high-speed wireless
service in these cities. Telkomsel will invest about 3 trillion rupiah
(US$326 million) to increase the number of base stations to 3,000
within the next three years as it expands its 3G coverage.
As many as 60,000 customers have registered for the service since
Telkomsel launched the trial operation last month.
Significance: Telkomsel is one of five companies that have won
licences to operate 3G mobile services in Indonesia. In addition to
Telkomsel, the government has also awarded 3G licences to PT Indosat,
PT Excelcomindo (Excelcom), PT Natrindo Telepon Seluler (NTS), and PT
Hutchison. All of the companies are required to provide 3G services to
at least 10% of their coverage capacity, in a minimum of two
provinces. To be able to begin commercial operations, they must
conduct trial operations supervised by the government. Excelcom, the
country's third-largest mobile operator said earlier this month that
it had passed the trial operation and received clearance to offer 3G
in Greater Jakarta, Bandung, Batam, Denpasar, Surabaya, and Medan. The
operator hopes to begin providing the service by the year-end (see
Indonesia: 4 September 2006: ). Indosat, NTS, and Hutchison are still
preparing their trial operations and plan to start offering 3G next
year.
-------------------------------
The Straits Times (Singapore)
Friday, September 15, 2006
IT skills for South Asian migrant workers
Centres here, in Batam and Philippines part
of a Microsoft drive to combat human trafficking
Arlina Arshad
INDONESIAN migrant workers, including those travelling to and from
Singapore, can now stop over in Batam to attend computer lessons for a
nominal fee.
A centre to teach them IT skills - including word processing and
spreadsheets - was launched yesterday in Batam.
It is the result of a tie-up between Microsoft and Yayasan Mitra
Kesehatan dan Kemanusiaan (YMKK), a non-governmental organisation
(NGO) there.
A similar centre will be opened in Singapore next Sunday, and another
was launched in the Philippines last Sunday.
The centres are part of a $1-million drive by Microsoft to combat
South Asia's human trafficking problem. Singapore was one of six
countries chosen because it is seen as a 'transit point' for migrant
workers, said Ms Lori Forman, Microsoft Asia's regional director of
community affairs. The remaining countries are India, Cambodia and
Thailand.
The IT giant will give Singapore NGO Humanitarian Organisation for
Migration Economics (Home) $79,900 in cash and software over three
years to help migrant workers, regardless of their sex or nationality.
But they must be at risk of being abused or trafficked.
Yesterday, Riau police chief Brigadier-General Sutarman said 17
Indonesian women who were referred to the courts this year had been
trafficked to Malaysia and Singapore.
Six cases involved women who were promised work as maids and
waitresses in Singapore, but instead were duped into becoming
prostitutes.
Since 2004, one-third of the 43 badly treated Indonesian migrant
workers YMKK has sent back home had worked in Singapore.
'Some were maids who complained about long working hours and their
salaries not being paid,' said YMKK counsellor Flora Loupatty.
At the new Batam centre - which is equipped with 10 computers -
Indonesian Merah Sari, 20, was learning how to use the Microsoft Word
program yesterday.
The maid's agent in Malaysia allegedly kept her two years' salary of
RM5,775 (S$2,480) her employer had passed to him.
She is now waiting for the Malaysian courts to settle the case.
She said: 'With these IT skills, perhaps I can work at an office,
instead of being a maid.'
-------------------------------
Indonesia's Mobile-8 Telecom to launch IPO in November - report
JAKARTA, September 15 (XFN-ASIA) - PT Bimantara Citra cellphone
carrier unit PT Mobile-8 Telecom is planning to launch an initial
public offering (IPO) in November, the Investor Daily reported,
quoting PT Bhakti Investama president Wishnu Handoyo.
The newspaper said Bhakti and state-run PT Danareksa are the underwriters.
"The IPO size is yet to be determined, but it will be around 20-25
pct," Handoyo was quoted as saying.
He said the IPO might raise proceeds of about 100 mln usd, the
newspaper reported.
Bimantara owns 70.5 pct of Mobile-8 Telecom. Other shareholders
include PT Dwimarga Dwiutama Asia Link BV, PT Centrallindo Pancasakti
Cellular, Qualcomm and Korea Telecom Freetel.
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China's car "Cherry QQ" on market in Indonesia
JAKARTA, September15 (Asia Pulse/Antara) - The Indomobil Group said it
will next week send to market Chinese car the Cherry QQ with sales
target of 200 units a month.
Indomobil President Gunadi Shinduwinata said the Cherry QQ will
provide an alternative for buyers in the country seeking fuel
efficient cars at a lower price.
The Cherry QQ will enter the market in three variants - standard,
medium and luxury models. The price for a medium model is Rp67 million
(US$7,444) off the road. The prices of the other two models are yet to
be determined.
The car with double overhead camshaft (DOHC) 12 valve injection with
engine capacity of 800 cc, will compete in the market of city cars
facing Korean, Japanese and European models.
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Indonesia's Bakrie Sumatra sets up subsidiary in Netherlands
JAKARTA, September 15 (XFN-ASIA) - PT Bakrie Sumatra Plantations said
it has set up a wholly-owned subsidiary, BSP Finance B.V., located in
the Netherlands.
In a letter to the Jakarta Stock Exchange, Bakrie said the new firm
was formally established on September 12, but it gave no other
details.
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Indonesia's Tunggaladhi raises stake
in Berlian to 62.51 pct from 45.35 pct
JAKARTA, September 15 (XFN-ASIA) - PT Tunggaladhi Baskara said it has
raised its ownership in shipping firm PT Berlian Laju Tanker to 62.51
pct from 45.35 pct.
Berlian said in a statement that it purchased an additional 713.34 mln
shares on the stock exchange today for 2,025 rupiah each.
The statement did not identify the sellers. Before today's
transaction, the investing public held a combined 53.14 pct stake.
------------------------------------------------------------
Arpeni aims to chalk up 30% increase in income
JAKARTA, September 15 (Asia Pulse/Antara) - Shipping company PT Arpeni
Pratama Ocean Line (JSX:APOL) hopes to chalk up Rp1.9 trillion (US$211
million) in income this year or an annual increase of 30 per cent.
Oentoro Surya, president of Arpeni, which operates 58 cargo ships
serving international and domestic routes said domestic cargoes have
tended to increase in volume.
Business in sea transport especially in the transport of agricultural
produces, oil and coal is booming, Oentoro said yesterday.
The condition offers an opportunity for the country's shipping
industry to expand despite competition from foreign rivals in
inter-island shipping in the country, he said.
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Indonesia's Media Nusantara 'B1' rating affirmed - Moody's
JAKARTA, September 15 (XFN-ASIA) - Moody's Investors Service said it
has affirmed its 'B1' rating for the senior unsecured bonds issued by
PT Bimantara Citra's 100 pct-owned unit PT Media Nusantara Citra
following the issuance's completion.
At the same time, Moody's has affirmed its 'B1' corporate family
rating for Media Nusantara.
The ratings outlook is stable.
Moody's lead analyst Angela Choi said the reduction of Media
Nusantara's bond size to 168 mln usd from the original planned size of
230 mln did not have any impact on the ratings.
'The resulting improvements in the interest and leverage metrics have
not been sufficient to change the rating,' Choi said.
'Other changes to Media Nusantara's business, including the
termination of an attempt to acquire a share in Indovision, were also
ratings neutral.'
Media Nusantara Citra is an integrated media company with operations
in television, radio and print media. It accounted for the largest
shares in audience and advertising expenditure (ADEX) in 2005.
--------------------------------------------------------------
India accuses Indonesia of flooding local nylon market
JAKARTA, September 15 (Asia Pulse/Antara) - The association of
synthetic fiber producers (APSyFI) says its members have gone to court
to challenge India's allegation that they are flooding its local nylon
filament yarn market.
APSyFI secretary general Kustarjono Prodjolalito said the Indonesian
exporters, which deny the allegation, have not asked for assistance
from the government or the association.
"The government, however, should seek to support the exporters through
government to government approach," Kustarjono said.
"India should not base its accusation on the price differences in the
Indian domestic market as that country's domestic products could be
produced less efficiently," he said.
India has slapped a 77 rupee (US$1.67) per kg surcharge on Indonesian
nylon filament yarn products for alleged dumping. Normally the import
duty in India is 15 per cent on that commodity.
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Coffee exporters accuse Thailand of violating AFTA agreement
JAKARTA, September 15 (Asia Pulse/Antara) - The Indonesian Association
of Coffee Exporters (AEKI) has accused Thailand of violating the Asean
Free Trade Area(AFTA) agreement for maintaining a high import duty of
49 per cent on Indonesian instant coffee products.
The unfair trade practice has caused potential losses to Indonesia,
AEKI chairman Moenawar Soedargo said.
The Thai government has adopted double standards and violated the AFTA
agreement. Thailand has been too protective, Soedargo said.
He said the AFTA agreement should have been implemented in coffee
trade since 2002, but so far the Thai government has refused to hear
Indonesia's complaint.
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Indonesia palm oil prices ease on Malaysia
JAKARTA, September 15 (Reuters) - Indonesia palm oil prices were
marginally lower on Friday, echoing falls in Malaysian palm oil
futures, traders said.
At the state marketing centre in Jakarta, crude palm oil was traded
lower at 4,169 rupiah ($0.457) per kg compared with 4,173 rupiah on
Thursday.
There were no auction in North Sumatra's Medan, the main port for palm
oil exports, as players were reluctant to take up positions ahead of
the weekend.
"It's usually quiet on Friday. Players prefer to wait and see the
price movement, especially with the unstable prices in Malaysia today,
before returning to the market," a Medan-based trader said.
The benchmark third-month November <KPOX6> contract on the Bursa
Malaysia Derivatives exchange ended unchanged at 1,537 ringgit ($419)
a tonne.
But other traded months fell between one and 13 ringgit <0#KPO:>.
On the exports front, sellers offered October shipments at $425 a
tonne, while bids stood at $420.
November and December shipment were offered at $425 a tonne, with bids
seen at $420-$422.5. In Jakarta, cooking oil eased to 4,725 rupiah per
kg from 4,740 rupiah on Thursday, with some 600 tonnes of olein
changing hands, a trader said.
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Indonesia's Bank Saudara to sell 33 pct stake via IPO
JAKARTA, September 15 (XFN-ASIA) - PT Bank Himpunan Saudara said it
plans to sell 500 mln shares or a 33 pct stake in the bank via an
initial public offering (IPO) slated for Nov 29 to Dec 1.
The IPO price is yet to be decided.
The company has appointed PT Kresna Graha Sekurindo as lead underwriter.
The bank said in its prospectus that it will use 80 pct of the IPO
proceeds to support credit expansion.
The remaining 20 pct will be allocated equally for opening new branch
offices and for buying technology hardware and software, it said.
Founded in 1974, Bank Saudara is a small-sized bank owned by oil
businessman Arifin Panigoro.
------------------------------------------
Indonesia's Adhi Karya may omit dividend
for 2006 if rights issue won't proceed
JAKARTA, September 15 (XFN-ASIA) - Construction company PT Adhi
Karya said it will request the government as its controlling shareholder
to omit dividends for this year's results if the state decides not to
proceed with a planned 600 bln rupiah rights issue, a company official
said.
"We would request the government not to pay out dividend next year if
the government disapproves the proposed rights issue," the company's
finance director M Choliq told reporters.
Choliq said the management expects next year's revenue to increase by
37. 5 pct if the rights issue is approved. If it is not undertaken,
revenue may only grow by 18.75 pct. -truncated-
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Joyo Indonesia News Service
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