JAKARTA (TheInsiderStories) – Good morning. We provide several pieces of important news that might help your business decisions today:
Indonesia Tenders US$1 Billion Patimban Port
The Transportation Ministry has begun the tender process for the construction of a planned $1 billion Patimban Port in Subang, West Java. Three work packages are being offered, including a terminal, a breakwater and a seawall, along with a connecting breach. Winning bidders will be announced in March 2018, with construction starting right afterwards, in early April. The Ministry will also put out a tender for a private operator to help run Patimban Port, with state-owned port operator PT Pelindo II. Construction of the car terminal is expected to be completed by March 2019, while the entire Patimban project is expected to be up and running by December 2019.
Chandra Asri – US$300 million Debut
on Monday morning, Indonesia’s Chandra Asri Petrochemical opened its books for its first offshore dollar deal, following a roadshow last week. Joint global coordinators Citi, DBS Bank and HSBC, along with joint bookrunners Deutsche Bank and Mandiri Securities, began marketing the seven non-call four year bonds at a 5.5 per cent rate, for a 10 year tenure.
Saka Energi wraps up US$250 million refinancing
Saka Energi Indonesia, the upstream oil & gas arm of Indonesian state-owned Perusahaan Gas Negara, has allocated the proceeds of its $250 million loan. The deal is scheduled to sign next week. Among the six leads, BNP Paribas and Sumitomo Mitsui Banking Corp retained the largest amounts, at US$35 million apiece. BNP split its portion between its Indonesian branch, which took $25 million, and the Singapore branch which will hold $10 million. They were followed by Citi at $30 million.
Hutchison 3, Indosat Set To Win Indonesia’s Spectrum Auction
Telecommunication operators PT Hutchison 3 Indonesia and PT Indosat Ooreedo Tbk (IDX: ISAT( are set to win a block each in the government’s 2.1GHz spectrum auction, Indonesia’s Ministry of Communication and Informatics said on Monday. Hutchison, a unit of Hutchison Asia Telecom Group, and Indosat, a unit of Qatar’s Ooredoo QSC, each bid Rp423.08 billion (US$31.15 million) for blocks of the spectrum. Other bidders will be allotted time to submit their counter-bids before the Ministry officially announces Hutchison and Indosat as winners.
Fed Meeting To Be Eclipsed by Trump’s Decision on Fed Chair
This week’s Federal Reserve policy meeting is shaping up to be an afterthought, next to that other imminent Fed event of the week: President Donald Trump’s announcement of who will lead the central bank for the next four years. The leading candidates so far include Jerome Powell, Janet Yellen, the current Fed chair; and John Taylor, a Stanford University economist. With no policy changes expected from the Fed when its meeting ends Wednesday, investors are instead awaiting the news of Trump’s choice for Fed chair — and what it could mean for the direction of interest rates, and perhaps for the economy.