JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Sawit Sumbermas Net profit soars
PT Sawit Sumbermas Sarana Tbk (SSMS) booked the net profit of Rp 628.15 billion in the nine-months to September 2017. The figure increased 87.44 per cent compared to the same period the previous year namely Rp 335.13 billion. The increase was triggered by increased production volume. From the topline side, SSMS posted revenues of Rp 2.38 trillion. This amount increased 36.87 per cent compared to the previous period of Rp 1.74 trillion.
Badak Extends Operating Deal for Bontang LNG plant
PT Badak NGL renewed its agreement with the State Asset Management Agency (LMAN) on Thursday, paving the way for the former to maintain its status as the sole operator of Indonesia’s oldest liquefied natural gas (LNG) plant in Bontang, East Kalimantan. The agreement will expire at the end of 2017.
At present, state-owned energy giant Pertamina holds the majority stake of 55 percent in Badak NGL. Total E&P Indonesie (TEPI) holds another 10 percent, while Vico Indonesia and Japan-Indonesia LNG Company (Jilco) control 20 and 15 percent, respectively.
Indonesia Raises Ceiling Tariff for Import Tax on Goods
The Indonesian government has increased the ceiling tariff for the import tax on goods purchased in other countries, from US$250 to $500 for each individual, considering the growth of passenger volume, inflation rate, and income per capita.
IFC Provides US$40 Million for SMEs
International Finance Corporation (IFC), a member of the World Bank Group, on Thursday announced a US$40 million senior loan facility to PT Radana Bhaskara Finance Tbk (Radana). The IFC-led financing package aims to develop the country’s micro, small and medium enterprises (MSMEs), and increase financing for women-owned MSMEs.
Intermedia Planning to Issue US$300M bonds
PT Intermedia Capital Tbk (MDIA) is seeking to issue global bonds worth US$300 million. The proceeds will be used to restructure the debts of its two entities, PT Cakrawala Andalas Televsisi and PT Visi Media Asia Tbk (VIVA). The bonds would have tenor of five years, with coupon rate of 10 per cent per annum and coupon payment of every six months. The total funding to be injected into the two companies would reach US$400 million. The companies debts matured on Oct. 17, 2017. Portion of the debts have been paid amounting to US$173.6 million, using bridging funds given by PT Lativi Mediakarya (LM). (*)