JAKARTA (TheInsiderStories) – Good morning. We offer you several relevant news that might help your business decisions today :
Domestic Cement Sales Up 11% in October
Domestic cement sales reached 6.8 million tons in October, up 11.4 per cent year on year and rose 7.2 per cent from previous month. Given the October sales, domestic cement sales in the ten months to October reached 54.2 million tons, 6.7 per cent higher from the same period last year. Mandiri Sekuritas said in its investor note that all areas showed higher cement sales, with an exception of Sulawesi and Papua.
Premier Oil, Petrovietnam Signs MOU on Gas Sale from Tuna Block
Premier Oil and Petrovietnam have signed a memorandum of understanding (MOU) on the sales and purchase of gas from Tuna Blockin North Natuna Sea. Premier Oil, as the operator of the field, will begin delivering gas to PetroVietnam from 2023. Premier holds participating interest of 65 per cent in the Tuna PSC, MOECO 25 per cent and the remaining shares are owned by GS Energy.
AirAsia Indonesia, Philippines Unit To Launch IPO Mid 2018
AirAsia Bhd’s Group CEO Tan Sri Tony Fernandes says Air Asia Indonesian and the Philippines units are scheduled to launch their initial public offering (IPO) before year end and likely next year. Fernandes said ASEAN is a market of 700 million people, “gives us a much better chance to compete against the world’’.
Australian Mcmahon, Nusa Konstruksi Develop Gold&Copper Mine
Publicly listed construction firm PT Nusa Konstruksi Enjiniring Tbk (IDX: DGIK) has partnered with Perth-based mining contractor Macmahon Holdings on the development of a gold and copper mine at Mount Tumpangpitu in Banyuwangi, East Java. The US$9 million deal bumps the total contract value the companies have secured between them over the past few years to $190 million, following construction work at the Martabe gold mine in North Sumatra, scheduled for completion in 2020.
Corporate secretary Djohan Halim said in a filing to the Indonesia Stock Exchange (IDX) on Monday (13/11), the Mount Tumpangpitu gold mine is operated by Bumi Suksesindo, a subsidiary of Indonesian miner Merdeka Copper Gold, which is affiliated with investment firm Saratoga Investama Sedaya. Saratoga holds a 27.8 percent stake in the company.
Most Asian markets down as fears grow for US tax reform
Asian markets mostly fell on Tuesday following a tepid lead from Wall Street, while investors await movement on stalled US tax cuts with fears growing that the reform push could come off the rails. After weeks of gains fuelled by strong earnings and optimism about the global economy, world markets have been tempered in recent days as dealers cash out and valuations sit unnervingly high. Jakarta Composite Index (JCI) closed down to the level of 5,988.29 (-0.55 per cent) or 33 points on Tuesday (14/11) added by Net Sell Foreign of approximately Rp721 billion
Perkebunan Nusantara III Books Higher Profit in Q3
State-owed agribusiness and plantation company PT Perkebunan Nusantara III (Persero) booked a consolidated net profit of Rp921 billion (approximately US$67 million) on third quarter, increase 214 per cent from the same period last year. The hike of commodities price has helped the company increase the volume of sales gradually. The sale of Crude Palm Oil (CPO) grew 8.5 per cent from the same period.
Joko Widodo to Continue Pressure EU on Palm Oil Restrictions
Indonesia President Joko Widodo has called on European countries to stop the discrimination against Indonesian palm oil into the EU market. He explained that oil palm plantations are playing big role in poverty alleviation, narrowing development gaps, and supporting inclusive economic development.
China Industry Growth below Expectation
Chinese retail sales rose at a 10 per cent annual rate in year to October – the slowest growth in eight months. The result was below the 10.4 per cent forecast and below the 10.3 per cent growth in the year to September. Real retail spending was up 8.6 per cent over the year. Meanwhile, Chinese industrial production rose at a 6.2 per cent annual rate in October, below the forecast average (6.3 per cent) and below the 6.6 per cent growth in the year to September.