headline-resources

Berau’s EGMS OKs Eko Santoso Budianto As New President Director

(The Insider Stories) - An extra-ordinary shareholders meeting of PT Berau Coal Energy Tbk (BRAU), Indonesia’s fifth-biggest coal producer, on Thursday (03/06), gave an approval for the appointment of Eko Santoso Budianto to take over Rosan Perkasa Roeslani’s president director position. Shareholders also approved the new composition of BRAU’s board of directors and commissioners: President Full Article

Bukit Asam’s Profit Falls 6% to Rp 2.9t in 2012

(The Insider Stories) - State controlled coal mining firm, Bukit Asam (PTBA), booked a minor decline in its profit last year, amid the falling price of coal in the international market. The company’s net profit fell 6 percent to Rp 2.9 trillion in 2012 from 3.09 trillion in the previous year. PTBA’s revenue actually rose Full Article

Lotte Plans $5b Petrochemical Plant in Indonesia

Insider Stories - Lotte Chemical Corporation, part of Lotte Group, South Korea’s conglomerate with diversified businesses, plans to build a $5 billion petrochemical plant in Cilegon, Indonesia’s Banten province, a high level official at the industry ministry said. Kim Gyo Hyun, Executive Director of Lotte Chemical, came to Indonesia and visit Indonesia’s Industry Minister office Full Article

Petrosea 1H profit slightly drops 4.8%

Coal mining contractor PT Petrosea Tbk (PTRO), a majority stake owned by PT Indika Energy Tbk (INDY), integrated energy company that is controlled by Agus Lasmono and Wiwoho Basuki Tjokronegoro, reported a slight decrease in net profit of 4.86% for the first 6 months of this year as other charges steeply increased. In an unaudited Full Article

Telkom & Cambodian mobile takeover

Telkom has been appointed as a preferred bidder for 51% stake in Cambodian’s largest mobile operator by subcriber, CamGSM. A source close to the deal said Telkom is awaiting for the approval from board of commissioner. “Telkom expects the acqusition could be accomplished in the second half of this year,” the source said. The company Full Article