JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:

Waskita Karya Eyes Rp 70t in New Contracts; Plans to Divest Toll Roads

State-controlled construction firm PT Waskita Karya Tbk (Persero) (WSKT) eyes Rp 70 trillion (US$5.2 billion) worth of new contracts next year on the back of new infrastructure projects across the archipelago. That would be a 28 per cent increase from this year’s target of Rp 60 trillion, thanks to new projects in 2018, including the Jakarta light rail transit system, railway lines and projects from Waskita Beton Precast, its concrete-producer subsidiary. Waskita only booked Rp 44.5 trillion in new contracts in the January-September period this year, down 24.5 per cent compared with the corresponding period last year. The company has also set a net profit target of Rp 5.3 trillion for next year – 32.5 per cent higher than this year’s projection.

SMDR Set Capex to Acquire 2 Firms

Public listed ship operator PT Samudera Indonesia Tbk (IDX: SMDR) has allocated capital expenditure (capex) of around US$ 150 million in 2018. The budget comes from internal cash, banking facilities and the issuance of Medium Term Note (MTN). SMDR Director Bani Mulia said that 35 per cent of the capex will be used for the acquisition of two companies.

Adaro’s subsidiary launched IPO overseas

PT Adaro Energy Tbk (ADRO) announced that one of its overseas subsidiaries has launched an IPO launched IPO in an island nation in East Africa, Mauritius. Launched from information disclosure, ADRO announced that its subsidiary Arindo Holdings Limited has officially hawked its stake in the Stock Exchange of Mauritius Ltd. on December 15, 2017. Arindo Holdings released 26,132,004 shares. Of this amount about 5 per cent has been absorbed by the public with a nominal value of US $ 11.45 per share. Arindo Holdings will get fresh funds of US $ 12.1 million or equivalent to Rp 163.35 billion (exchange rate of Rp 13,500). The funds will be used to pay off part of the debt and working capital.

PPATK Beware of Money Laundering Modes via Bitcoin

Indonesia anti-money-laundering agency PPATK mentioned the potential of crime derived from bitcoin or virtual currency. Digital currencies, the official said, are also potentially used [abused] for terrorism financing and money laundering.

Kertajati airport, AP II to sign agreement later this month

PT Bandara Internasional Jawa Barat (BIJB), owner of under-construction Kertajati airport, and state-owned airport operator PT Angkasa Pura II (AP II) will sign an agreement on the operation of the airport in the West Java town of Majalengka on Dec. 27. BIJB president director Virda Dimas Ekaputra said on Monday the agreement had to be made immediately as it related to the disbursement of a loan for finalizing the construction of the planned international airport. Out of Rp 906 billion [US$66.7 million] of the loan, Rp 650 billion has been disbursed. The remaining Rp 256 billion is expected to be disbursed in January.

 

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