Home News Daily Business Briefing – Sept. 19

Daily Business Briefing – Sept. 19

JAKARTA (TheInsiderStories) – Good morning. We offer readers several relevant news items that might help your business decisions today :

Indonesia Bappenas Partnering with Chinese Huaqing to Build Infrastructure
The Ministry of National Development Planning/Bappenas is partnering with Chinese construction company Huaqing Housing Holding Co.Ltd to build and finance infrastructure projects in Indonesia. Deputy for Facilities and Infrastructure of Bappenas Wismana Adi Suryabrata, said the partnership is expected to increase networking between governments and businesses in both countries, particularly in the housing, infrastructure and strategic industries. For information, Huaqing is a company that has built a number of housing projects, power plants, industrial estates, bridges, toll roads, ports, airports and other infrastructure projects, both in China and overseas. Among others, in Russia, Nigeria, Myanmar, and Australia.

TINS, Chinese Yunnan Tin Set Up Trade Cooperation 
PT Timah Tbk (IDX: TINS) established a partnership with Yunnan Tin, a Chinese tin company. Amin Haris Sugiarto, Corporate Secretary of TINS ​​stated that this cooperation is a trade cooperation for tin chemical products and technology process cooperation both tin chemical and solder. This partnership will expand the marketing of downstream production and transfer of technology knowledge to TINS. In the first half (H1) of 2017, TINS ​​was able to record an increase in tin ore production by 16,078 tons. This figure is up 76.52 percent compared to the same period last year 9,108 tons. Tin production rose 56.56 percent to 14,905 metric tons compared to the H1 of 2016 at 9,520 metric tons. The sales of tin metals reached 14,404 metric tons, an increase of 23.30 percent over the same period in 2016 of 11,682 metric tons. (Kontan)

Hutama Karya Issues Rp3.53 trillion Bond
State-owned toll operator PT Hutama Karya will offer two series of suistanable bonds up to Rp3.53 trillion, said the company on the announcement at Indonesia Stock Exchange (IDX). Series A has a principal amount of Rp1.16 trillion with an interest rate of 7.80 percent per annum. Series B has a principal amount of Rp2.36 trillion with an interest rate of 8.40 percent per annum. The period of public offering of these bonds will take place Sept. 19-20, allotment date is Sept. 22, and will be officially listed at the IDX on Sept. 27. Hutama Karya cooperates with six underwriters to implement bond issuance. They are PT Bahana Sekuritas, PT BCA Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas, PT Mandiri Sekuritas and PT RHB Sekuritas Indonesia.

PTPP Wins Kulon Progo Airport Project Rp6.5 Trillion
PT PP Tbk (IDX: PTPP) won the selection of airport development project Kulon Progo in Yogyakarta with total investment Rp6.5 trillion. President Director of PTPP Tumiyana said, that the company has signed a cooperation contract with PT Angkasa Pura I for Kulon Progo Airport development project. Kulon Progo Airport is one of the list of national strategic projects proclaimed by President Joko Widodo. Regarding the contract value, PTPP obtained a new contract worth Rp24.1 trillion until August 2017, or 59.2 percent of the new contract target until the end of the year. The new contract value also reflects 59.2 percent of the company’s total year contract target of Rp40.6 trillion.

Ministry of Transportation Offers Eight Projects in ASEM TTM
Ministry of Transportation ready to offer a number of transport infrastructure projects in Asia-Europe Meeting Transport Minister Meeting 2017 (ASEM TMM). The Minister Budi Karya Sumadi, said that the ministry will offer Kualanamu Airport, Kuala Tanjung Port, Shear Crosswalk Port, Tanjung Priok Port, Sepinggang Balikpapan Airport, Makasar New Port, and Mandalika Port.

Indonesian Offers 2.1GHz, 2.3GHz Frequencies

Indonesia’s Ministry of Communications and Information Technology (MCIT) has once again returned to its quest to license additional frequencies in the 2100MHz and 2300MHz bands, with auction plans expected to be given to the minister with portfolio this week. Now, the ministry is suggesting a date of January 2018 to alleviate spectrum shortfalls – which affect capacity in many cities such as Medan in North Sumatera, DKI Jakarta, Bogor, Depok, Bekasi, Bandung in West Java,Tangerang, Semarang in Central Java, Yogyakarta, Surabaya in East java, Denpasar in Bali, Pontianak in West Kalimantan and Makassar in South Sulawesi.

Matahari Appoints New CEO

PT Matahari Putra Prima Tbk (IDX:MPPA), Indonesian multi-format retailer, has appointed William Travis Saucer as its new CEO. Mr. Saucer brings more than 37 years of retailing and management experience both in the United States and in Indonesia. He began his professional career in 1973 with JC Penney and Saks, and has held multiple leadership positions, including CEO of McRae’s in 1998. The new CEO has been with the Lippo Group since 2006, serving as Chief Executive of Matahari Department Stores until 2012. Since 2013, Mr. Saucer continued to serve as Commissioner of PT Matahari Department Stores Tbk and Independent Commissioner of MPPA. Noel Trinder, the former CEO, will continue to serve as Head of Lippo Group’s Consumer Retail Division and will focus on his Group responsibilities.