Wednesday, September 21, 2011
MEDIA HIGHLIGHTS
The government prepares new regulation to boost oil & gas exploration
The Energy and Mineral Resources Ministry is currently preparing a new regulation to boost oil & gas exploration in the country. No given disclosure is given at this current stage, however the regulation will enhance oil recovery technologies to ramp up production in the future. Furthermore, Coordinating Economic Minister, Hatta Rajasa, said that in order to increase the country’s oil and gas production, the government has to attract more investment, offer more oil concession working areas and solve problems that discourage investment like overlapping land and disagreements on the cost recovery regulation. (The Jakarta Post)
United Tractors heavy equipment sales drop in August on long holiday
United Tractors (UNTR), Indonesia’s largest heavy equipment distributor, sold 589 Komatsu heavy equipment in Aug which was down 19% m-o-m due monthly to fewer working days. However, it still rose 22% on y-o-y basis. As for its mining contractor operation, the company recorded coal production and overburden removal of 7.7m tonnes and 73.6m bcm , both down ~4% compared to July’s figure which we believe due to Eid Holiday in August. (company)
Indocement plans to build new cement plant next year
It is reported that Indonesia second largest cement maker, Indocement (INTP) allocates USD100m capital expenditures to build new cement plant at Pati, Central Java in 2012. INTP targets to commence production of the new plant in 2014. Notably, production capacity of new plant is 2.5m tons per annum with estimated total
capital expenditures of USD300m. INTP current production capacity is 18.6m tons per annum, while cement sales volume has achieved 7.1m tons (+14.1% y-o-y) in 1H11. (Investor Daily)
SCG Chemicals acquired 30% (919.85m shares) of Chandra Asri Petrochemical (TPIA) worth IDR3.76trn
SCG Chemicals, a subsidiary of Siam Cement Group, acquired 30% (919.85m shares) of Chandra Asri Petrochemical (TPIA) worth IDR3.76trn at IDR4,088 per share through Apleton Investment (22.87%) and 7.13% Barito Pacific (BRPT). Post acquisition, BRPT’s ownership in TPIA is diluted from 72.0% to 64.9%. (Investor
Daily)
AKR Corporindo allocates IDR800bn up to 2012 for fuel distribution, logistics and coal infrastructure development
AKR Corporindo (AKRA) allocates IDR800bn up to 2012 for fuel distribution, logistics and coal infrastructure development. AKRA director, V. Suresh, expects the infrastructure development to finish by the end of this year. (Bisnis Indonesia)
source: OSK dated 21 September 2011
The Energy and Mineral Resources Ministry is currently preparing a new regulation to boost oil & gas exploration in the country. No given disclosure is given at this current stage, however the regulation will enhance oil recovery technologies to ramp up production in the future. Furthermore, Coordinating Economic Minister, Hatta Rajasa, said that in order to increase the country’s oil and gas production, the government has to attract more investment, offer more oil concession working areas and solve problems that discourage investment like overlapping land and disagreements on the cost recovery regulation. (The Jakarta Post)
United Tractors heavy equipment sales drop in August on long holiday
United Tractors (UNTR), Indonesia’s largest heavy equipment distributor, sold 589 Komatsu heavy equipment in Aug which was down 19% m-o-m due monthly to fewer working days. However, it still rose 22% on y-o-y basis. As for its mining contractor operation, the company recorded coal production and overburden removal of 7.7m tonnes and 73.6m bcm , both down ~4% compared to July’s figure which we believe due to Eid Holiday in August. (company)
Indocement plans to build new cement plant next year
It is reported that Indonesia second largest cement maker, Indocement (INTP) allocates USD100m capital expenditures to build new cement plant at Pati, Central Java in 2012. INTP targets to commence production of the new plant in 2014. Notably, production capacity of new plant is 2.5m tons per annum with estimated total
capital expenditures of USD300m. INTP current production capacity is 18.6m tons per annum, while cement sales volume has achieved 7.1m tons (+14.1% y-o-y) in 1H11. (Investor Daily)
SCG Chemicals acquired 30% (919.85m shares) of Chandra Asri Petrochemical (TPIA) worth IDR3.76trn
SCG Chemicals, a subsidiary of Siam Cement Group, acquired 30% (919.85m shares) of Chandra Asri Petrochemical (TPIA) worth IDR3.76trn at IDR4,088 per share through Apleton Investment (22.87%) and 7.13% Barito Pacific (BRPT). Post acquisition, BRPT’s ownership in TPIA is diluted from 72.0% to 64.9%. (Investor
Daily)
AKR Corporindo allocates IDR800bn up to 2012 for fuel distribution, logistics and coal infrastructure development
AKR Corporindo (AKRA) allocates IDR800bn up to 2012 for fuel distribution, logistics and coal infrastructure development. AKRA director, V. Suresh, expects the infrastructure development to finish by the end of this year. (Bisnis Indonesia)
source: OSK dated 21 September 2011
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