JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Lippo Karawaci Shareholders Approve Rights Issue Plan
Shareholders of industrial township developer Lippo Karawaci, or LPKR, approved the company’s plan for a rights issue in an extraordinary shareholders meeting on Friday (15/12). The company plans to raise Rp 600 billion ($44.22 million) from the rights issue in the first quarter next year from selling 1.45 billion new shares at Rp 600 a piece. LPKR will use the proceeds to fund business expansion and strengthen its capital.
IDX Records Four Sustainable Bonds Last Week
The Jakarta Composite Index (JCI) resumed its gains ahead of the closing of end-of-year trading. On Friday (15/12), JCI again hit all-time record highs by closing up 1.46 per cent to 6,119.41 points compared to the position at the end of last week at 6,030.95 points. According to official information from the Indonesia Stock Exchange, there were four bonds listed on the Stock Exchange this week, those are Bank Maluku Bond II Year 2017 (Rp500 billion), Adira Finance Sustainable Bond IV Phase I Year 2017 (Rp1,3 trillion), Chandra Asri Petrochemical Sustainable Bond I Phase I Year 2017 (Rp500 billion) and OCBC NISP Sustainable Bond II Phase III Year 2017 (Rp1,75 trillion).
Indonesia Statistics Will Record Data of e-Commerce Businesses
Businesses of electronic commerce (e-commerce) will soon be recorded by the government through the Indonesia Statistics (BPS). This step is done in order for the government to have a benchmark when making decisions related to the development of the digital economy.
Oil and gas lifting to fall slightly short of target
The Special Task Force for Upstream Oil and Gas Business (SKKMigas) has said that the country’s oil and gas lifting, the colloquial term for ready-to-sell production, is expected to meet 99 per cent of its total target this year. As stated in the revised 2017 State Budget, the government targeted production at 815,000 barrels per day (bpd) and 6,440 million standard cubic feet per day (mmscfd) this year.
Krakatau Steel, Japanese Spare Part Maker to Increase Local Content
Japanese automotive spare parts producer Sango Corporation has agreed to use products of state-owned steelmaker Krakatau Steel as part of Sango’s efforts to increase local content. Under the agreement, Krakatau Steel will process raw materials imported by Sango to become wire rods that will be used by Sango to produce automotive spare parts in its factory in Karawang, West Java. George Halasi, president director of TSIG Holding Pty Ltd, a Sango subsidiary, said his company had invested US$40 million, but the total investment was projected to reach $95 million. (*)