JAKARTA (TheInsiderStories) – Good morning. We provide several pieces of important news that might help your business decisions today:
Sirius Minerals Signs Asia Sales Agreement
London-based fertilizer producer Sirius Minerals has announced an exclusive resale deal with PT Chemical Indonesia, a subsidiary of Singapore-based Wilmar Group, for its key POLY4 nutrient products. The deal gives Sirius an entry into South East Asian territories including Indonesia, Malaysia, Vietnam, Thailand, Philippines and Myanmar. The term of the agreement is for an initial seven years, following initial production, which may be extended by a further three years by Wilmar. It has a delivery schedule of up to 750,000 tons per annum (TPA) by the seventh year. In addition, Wilmar has an option to increase the minimum volumes supplied by up to 1 million TPA.
Telkom Indonesia Profit Jumps 21.6 percent in 9 Months
PT Telekomunikasi Indonesia Tbk (IDX: TLKM), the country’s largest telecommunications company, posted a 21.6 percent jump in net profit for the first nine months of this year to Rp17.92 trillion (US$1.32 billion) for the January-September period, compared with Rp14.73 trillion a year earlier.
Snapcart Raises US$10 Million in ‘Series A Funding’ from Investors
SNAPCART, an offline shopping and consumer insights startup, has announced that it has closed a US$10 million series A funding round led by existing investors Vickers Venture Partners, Wavemaker Partners, SPH Ventures (also Social Capital), Kickstart Ventures, and Endeavor Catalysts. In March 2017, Snapcart announced they had raised $3 million in a Pre-Series A funding round also led by Vickers Venture Partners. In terms of business growth, Snapcart has reached approximately 50,000 users, respectively, in Indonesia and the Philippines, where they operate. It also has plans to expand to multiple countries within the next two to three years.
Indonesia Car Sales Down 5.3 Percent on-year in September
Indonesia’s car sales in September fell 5.3 from a year earlier, according to data released by automotive industry association Gaikindo on Thursday. Automakers sold 87,645 automobiles in September, down from 92,541 units over the same month last year. On a monthly basis, car sales fell nearly 10 per cent, from 97,256 in August. Sales for August were revised upward from a previously reported 96,466 units.
Gov’t To Extend Jakarta-Bandung Fast Train rail to Kertajati Airport
Transportation Minister Budi Karya Sumadi has confirmed that the government is looking for new investors to cooperate with Kereta Cepat Indonesia China, a Sino-Indonesian consortium that is managing the fast train project, to finance the track extension to Kertajati International Airport currently being built in Majalengka. The extension will cover more than 63 kilometers — in a straight line — from the northeast of Tegalluar Station in Bandung, West Java, to Kertajati, adding to the 142 kilometer track from East Jakarta’s Halim Perdanakusuma Airport. Two toll roads currently provide access to the US$1.69 billion Kertajati Airport from Bandung; passengers do however have to drive more than 120 kilometers to reach the airport from the provincial capital.
BCA Reports Rp16.8 Trillion in Profit