JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Ngurah Rai Airport Still Closed, 445 Flights Canceled
PT AirNav Indonesia announced Ngurah Rai International Airport shutdown extended until Wed. 29 at 07.00 AM local time. As much 445 flights have been canceled due to the eruption of Mount Agung in Bali and affecting the travel plans of some 89,000 passengers, Director of Air Transportation of the Ministry of Transportation Maria Kristi Endah Murni said on Monday (27/11). Moreover, Mount Agung`s eruption has affected 51 flights, or some 2,900 passengers, at the Lombok International Airport. The Indonesian Volcanology and Geological Disaster Mitigation Center has raised the alert status of Mount Agung from alert level III to IV, the highest, indicating eruption hazards.
Pertamina, Rosneft Will Sign Tuban Project Agreement
State-owned energy producer PT Pertamina and Russian oil producer Rosneft plans to immediately sign a joint venture (JV) for the Grass Root Refinery (GRR) project in Tuban. Pertamina is targeting the establishment of JV for Tuban GRR project end of 2017. Pertamina plans to form a joint venture with Pertamina share of 55 per cent and Rosneft of 45 per cent. On the other hand, Pertamina has also agreed with Rosneft on the issue offtaker of Tuban Refinery. Rosneft is willing to become the offtaker of Tuban refinery. Pertamina is confident the construction of Tuban refinery can be finished in 2024.
Jasamarga Transjawa Go IPO Next Year
PT Jasamarga Transjawa Tol, subsidiary of PT Waskita Toll Road, unit of state-owned construction company PT Waskita Karya Tbk (IDX: WSKT) and state-owned toll road operator PT Jasa Marga Tbk (IDX: JSMR) are set to go public in 2018. Waskita Toll Road president director Herwidiakto said the move would strengthen the capital structure of the new firm and allow for flexible operation. Waskita Toll Road and Jasa Marga are currently focusing on the Trans-Java toll road project with a goal to complete it before next year’s Idul Fitri exodus, which will take place in June.
Chandra Asri To Issue Bonds US$74 Million
PT Chandra Asri Petrochemical Tbk (IDX: TPIA) will issue bonds through a sustainable public offering (PUB) with a maximum target of Rp 1 trillion (US$74.07 million). Head of Investor Relation of Chandra Asri Petrochemical, Harry Tamin, said that the fund will be used to pay off the company’s debts to PT BCA Sekuritas, PT DBS Vickers Sekuritas Indonesia and PT Mandiri Sekuritas. He said, several investors has shown their interest namely Citigroup Global Markets Singapore Pte Ltd, The Hongkong and Shanghai Banking Corporation Limited Singapore Branch.
Coca Cola Start Selling Hot Coffee in Indonesia
The local arm of Australia-listed Coca-Cola Amatil plans to start selling hot coffee in Indonesia by the end of the year, President director Kadir Gunduz said at a media briefing. The company has managed the Coca-Cola brand in Indonesia since 1992. The coffee will initially be produced abroad, but the firm is considering building a local plant for coffee, if the sales volume justifies such a move. The new product will complement six drink categories the firm produces and sells in Indonesia, namely sparkling water, mineral water, juice, tea, dairy products and isotonic drinks. The firm has eight plants in different provinces, producing an average of 2.2 billion packaged drinks a year.