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Semester 1, Gas receipts Reaches 18.7 Billion U.S. Dollars

  • Posted on October 19, 2017 at 4:40 pm

JAKARTA – State revenue from the management of the oil and gas industry-upstream (oil) in the first half of this year reached 18.7 billion U.S. dollars, or higher than the target of 18.4 billion U.S. dollars.

Meanwhile, oil production per day has reached 99 percent, or an average of 831 118 barrels per day from the target set in the state budget in 2013 amounted to an average of 840,000 barrels of oil per day.

Unit chief Special Executive Upstream Oil and Gas (Migas SKK) Rudi Rubiandini claims, the achievement is unprecedented in a period of 3 years.

“The achievement of national oil production up to 99 percent of the budget target has never happened within the last three years. During the period of last three years of national oil production performance was always below 99%,” he said, Wednesday (07/31/2013).

He said the success achieved oil production and revenues is the result of hard work in SKK Oil workers, all workers Cooperation Contract (PSC), leaders and workers in the Ministry of Energy and Mineral Resources and all stakeholders in the upstream oil and gas industry.

Therefore, Rudi appreciation to all stakeholders in order to increase production of oil and natural gas nationwide so that the target could be exceeded state revenues.

Although there are many unsuccessful PSC oil production exceeded the target set in the state budget in 2013, but some of them have worked very well exceed those targets.

Exceed Production

There are seven PSC, which surpassed the target of state budget in 2013, namely ConocoPhillips Indonesia Ltd, Vico Indonesia, Medco E & P Indonesia (S & C Sumatra), PHE ONWJ, Chevron Pacific Indonesia, Medco E & P Indonesia (Rimau) and ConocoPhillips (Grissik) Ltd..

The details are as follows: ConocoPhillips Indonesia Ltd managed to achieve oil production by an average of 34 867 barrels per day from the target in the state budget in 2013 amounted to 32 890.

Vico Indonesia managed to produce as much as 13,740 barrels of oil per day from the target of 13 010 barrels per day. Medco E & P Indonesia (S & C Sumatra) managed to produce 6,841 barrels of oil per day from the target of 6,630 barrels per day;

PHE ONWJ managed to produce 38 996 barrels of oil per day from the target of 38 080 barrels per day; Chevron Pacific Indonesia managed to produce 323 014 barrels of oil per day from the target of 319 430 barrels per day.

Medco E & P Indonesia (Rimau) managed to produce 14,086 barrels of oil per day from the target of 14,060 barrels per day.

For the PSC still can not meet the target set in the state budget-2013 as well as the target in the Work Programme and Budget (WP & B), Rudi hope they can improve their performance.

“Performance targets are not reached so soon improved to the national oil production target can also be exceeded. What we are doing right now is working for the State, for the national interest because it lets us collaborate and work together, “he said.

Holcim Profit Down 7 Percent

  • Posted on September 28, 2017 at 5:49 pm

Cement plant Holcim Indonesia posted a profit of Rp 467 billion during the first half of 2013. This figure is down 7 percent compared to net income in the same period a year earlier.
In a financial statement released, the cement factory managed to collect revenue to Rp 4.482 trillion. The achievement is obtained from the optimization of product mix and distribution to meet the challenges of increased market supply of capacity and imports increase. The revenue is actually higher than last year which was only Rp 4.191 trillion.
However, because of higher distribution costs make profits become depressed. Additionally, the increased cost of sales and administrative as well as financial costs, have an impact on short-term profits.
Nevertheless, President Director, Eamon Ginley convey, the general performance of Holcim are on the rise. It can be seen from the increase in gross profit of 33 percent to 35 percent. Holcim also has distributed interim dividend of Rp 37 per share to be paid, 15% greater than the interim dividend last year.
“With this dividend, for sure Holcim continues to provide benefits to its shareholders, and to continue to implement strategies based on adding value to customers, and maximize the efficiency of capacity,” Ginley said in a release received Suara Merdeka.
Holcim Indonesia is currently working in the middle market of excess supply conditions. However, he expects this condition is temporary.
Cement demand continued to grow consistently in the medium and long term, because the Indonesian economy continues to grow. This is supported by the existence of government and private sector investment in infrastructure and housing needs is also continuing. Therefore, the development of new plant proyen Holcim in Tuban, East Java, will provide benefits to the company.
“The cost of distribution to major markets in East Java to be more efficient, and will ensure smooth supply and better service for customers,” adds Ginley.
1 Tuban cement plant will produce 1.7 million tons of cement per year and will start in accordance with the planned schedule. Cement mill will begin operations on in August this year.

Earnings Fall 22% Pawnshops Because Kraft

  • Posted on September 25, 2017 at 8:37 am

Mortgage PT (Persero) recorded a decrease in net income to Rp 718 billion in the first half of 2013. The number is down about 22% when compared with net income in the same period of the previous year of Rp 929 billion. Profit decline was due to a continued decline in the price of gold on the market.

“The decline in gold prices greatly affect the performance of the company’s significant because when the price of gold fell Mortgage loan disbursement will face obstacles because its value will go down as the price of gold down,” said Director of Mortgage Finance Agus Dwi Pramoedya when met at the Central Office Pawn Kramat, Jakarta, Thursday (01/08/2013).

However, he said, although besih profit declined but remains the company’s turnover rose. In the first half of this year, the company’s revenue still grew by 6.5% to Rp 4.1 trillion over the same period the previous year which only Rp 3.8 trillion.

Total assets also go up to Rp 33 trillion in the first half of 2013, an increase of 13% when compared to its total assets in the same period the previous year which reached Rp 29.1 trillion.

From the business side, Pawn is able to achieve a turnover in the pawning business of gold amounting to Rp 46 trillion in the first half of 2013, an increase of 6% from the same period last year of Rp 43 trillion.

“It is conventional. If sharia as of June 2013 was Rp 6 trillion, Rp 5.5 trillion last year finished up 8.6%,” he said.

In addition, the company’s customers also increased 15% to 14.4 million in the first half of 2013, when compared to the same period of the previous year which only 13.7 million.

“Seeing this increase, we believe the mortgage business will continue to grow,” he said.

Net profit of PLN “Skyrocket” 15,305 Percent

  • Posted on September 8, 2017 at 8:16 am

Net income of the State Electricity Company (PLN) in the first half jumped 15,305 percent in 2013 to Rp 4.77 trillion from the same period the previous year which is only Rp 31 billion.

In a financial report submitted to the Indonesia Stock Exchange on Tuesday (07/30/2013), note that the net profit of state-owned electricity skyrocketing is because the company no longer record foreign exchange translation losses. A year earlier, the company suffered losses of up to Rp 6.74 trillion, and the first half of 2013 the company recorded an exchange gain of Rp 909.45 billion.

The company recorded sales of electricity during the first 6 months of 2013 reached Rp 71.6 trillion. Number rose 15.15 percent from semestar I-2012 amounted to Rp 62.18 trillion.

Meanwhile, the amount of subsidy received from the government at the end of June reached Rp 43.8 trillion, down 8.9 trillion from Rp 48.08 trillion a year earlier. Thus, total revenue reached Rp 116.73 trillion in the first half of 2013, up 4.8 percent year on year.

On the other hand, due to rising liability company, PLN also recorded a rise in interest expense to be paid. In the first half of 2013, the cost of funds to pay the state-owned electricity reached Rp 13.74 trillion, an increase from the first half of 2012, Rp 11.46 trillion.

PTPN Unified Create Largest Indonesian Sugar Factory

  • Posted on September 3, 2017 at 4:37 pm

PT PTPN III, XI, and XII plans to build a sugar factory along with the name of PT Industri Gula Glenmore. Largest sugar mills in Indonesia later this stake by 60 per cent owned by PTPN III, PTPN XI 10 percent, and the remaining 30 percent had PTPN XII.

This determination was Minister of State-Owned Enterprises, Dahlan Iskan, in his office, Jakarta, Tuesday, July 23, 2013.

The plant will produce primary products and white sugar premium products such as bio-ethanol bandwagon, bio fertilizer, and animal feed.

The plant will be built with a processing capacity of six thousand tons of cane per day and will be increased to eight thousand tons per day in the end. At the beginning of production of the company is expected to earn as much as nine percent yield, so the premium of white sugar production could reach nine thousand tons.

The factory is located in East Java will be supplied entirely from plantation PTPN XII. The construction itself is expected to cost Rp1, 5 trillion.

“This plant should be completed within 22 months, since the completion of the project has been adapted to harvest sugar cane grown to be supplied to Glenmore. If it’s too late. Later sugarcane to be supplied to anybody,” said Dahlan.

Projected industry growth of 6.5 percent

  • Posted on August 17, 2017 at 5:42 pm

National industry growth is projected to end the year at 6.5 percent, in line with national economic growth sought to remain above six per cent.

“I am optimistic the industry growth of 6.5 per cent until the end of the year,” Industry Minister MS Hidayat said after giving the poor kapada Eid gifts and employee groups I and II in the Ministry of Industry, said here on Thursday.

He asserted that the target can only be achieved if other ministries involved escorting a number of investment plans in the industry in order teralisasi this year.

Ministry of Industry, he added, still rely on labor-intensive industries, such as textiles and footwear, as well as other technology-intensive industries and are able to give effect to the creation of the industry chain and new business growth as a draft.

“Labor-intensive industries absolutely must be maintained and are allowed to survive,” said Hidayat. It was judged too important to keep going no huge unemployment in the country.

Hidayat believes processing industry, including the furniture industry, still has a growing trend, compared to primary raw materials-based industries whose prices are falling. Moreover, he said, consumption in the domestic sector is still a mainstay of the national economy, in addition to investment and exports.

“The government agreed to seek national economic growth of not less than six percent,” said Hidayat, who had previously participated in a meeting with the Governor of Bank Indonesia five economic ministers to discuss the current macroeconomic situation.

To keep the national economic growth remained above six per cent, he said, among other things to keep the unemployment rate did not increase, so labor-intensive industries play an important role.

Home Finance of America – Now Offering Lowest Mortgage Payments

  • Posted on August 2, 2017 at 3:15 pm

Home Finance of America,

one of the nation’s leading online mortgage banks, is proud to announce that they are offering a mortgage rate of 3.125% (APR 3.295%) for a mortgage fully amortizing in 30 years. The interest rate on this special loan program is fixed at 3.125% (APR 3.295%) for the first 5 years after settlement and is known throughout the mortgage industry as a 5/1 ARM. A 5/1 ARM fully amortizes in 30 years so like traditional a 30 year fixed rate mortgage so the resulting monthly payment is low. A 5/1 ARM has an initial fixed interest rate for the first 5 and may adjust once each year for the remaining 25 years of the loan. The initial fixed interest rates for adjustable rate mortgages are significantly lower than those offered for 30 year fixed rate mortgages.

While Home Finance of America is currently offers the mortgage industry’s lowest 30 year fixed rate mortgage at 4.125% (APR 4.293%) a financially savvy borrower will in most cases find the 5/1 ARM is a better product. On a $200,000 5/1 ARM at Home Finance of America’s current rate of 3.125% (APR 3.295%) a borrower would save $112.55 each month in a 5/1 ARM as comp

Three options for the sugar mills Kigumas

  • Posted on July 29, 2017 at 10:22 am

Sugar Sugar Factory Industrial Society in the village of rewards, Gondanglegi District, Malang, East Java, has not operated in accordance with expectations, but construction costs are not small. Malang Regent Rendra Krishna prepared three options that will be taken to the rescue.

“There are three options to be offered to the continuation of the sugar mill, but until now still not sure which option will be selected district government,” said Renda Krishna in Malang, Friday.

Three options for the fate of Sugar Industrial Estate Society (Kigumas) which was built in 2003 it is whether it will be sold, or donated to community cooperation. Which option will be taken subject to approval by the board of the district government.

Further Rendra said a number of attempts have been made by the regency of Malang, including conducting due diligence and legal opinions in 2012. Currently also being conducted appraisal (valuation) to calculate how much the value of the actual building Kigumas.

He was admitted to the present PT Kigumas previously built with the hope to contribute to local revenue (PAD) and improve the welfare of sugarcane farmers, it is still not operating as expected.

In fact, the Renda, the condition lasts long enough. Moreover, after the emergence of case law in the area of ​​industrial projects plantation society (kimbun) which spread to PT Kigumas, for being one of the evidence in the case.

“We hope this problem has a solution soon so Kigumas can operate according to expectations and objectives in its development,” said Renda.

Chairman of Malang Regency Saso previous day also questioned the handling and assets that do not generate revenue Kigumas at all, even the condition of buildings and equipment gilingnya also “stalled”.

Kigumas Sugar Factory which was inaugurated by President Megawati Sukarnoputri to-5 was built starting in 2001 with a budget of Rp30 billion from the budget revenue and expenditure (budget) Malang.

Kigumas initially built to accommodate the farmers who harvest sugar cane annually excess production, so it must be sent to a number of areas.

Kigumas development on an area of ​​11 thousand square meters that can be targeted return on investment (BEP) after one year of operation. Initial design is able to produce sugar Kigumas super category one with a production capacity of 250 TCD.

India May industrial output shrinks surprise 1.6%

  • Posted on July 23, 2017 at 12:27 pm

India’s industrial output shrank by a shock 1.6 percent in May from a year ago, data showed Friday, adding to mounting gloom about Asia’s third-largest economy.

The contraction in output by factories, mines and utilities was far below market forecasts of a 1.5-percent rise while in another blow, April’s industrial output growth was revised to 1.8 percent from 2.8 percent expansion earlier.

“Industrial recovery is not yet in sight — this is definitely a surprise on the downside,” D.K. Joshi, chief economist of India’s leading credit rating agency Crisil, told AFP.

The figures marked more grim reading for Prime Minister Manmohan Singh’s Congress-led government which is desperately hoping for an economic rebound before elections due in the first half of 2014.

“Industry has slipped into a serious crisis,” said business leader Rajkumar Dhoot, as the data showed manufacturing, which accounts for three-quarters of the Index of Industrial Production, had slumped by 2.0 percent in May.

Dhoot, chief of the Associated Chambers of Commerce and Industry, predicted “large-scale job losses” in the country of 1.2 billion people and pointed to production shutdowns already announced by the once-booming car sector.

Despite the weakness, the central bank is ill-placed to cut interest rates to kickstart the economy with the rupee near lifetime lows and separate data Friday showing retail price inflation climbing to 10.13 percent in June from 9.65 percent in May.

“For any policymaker, it is a very challenging time. You have urgent situations over the rupee, inflation and now manufacturing,” Joshi said.

“There is no magic wand except that the government must start implementing some of the economic reforms it has been promising,” he said.

While the bank has cut rates three times since the start of 2013 following an aggressive hiking spree, borrowing costs remain high.

The disappointing data comes as Finance Minister P. Chidambaram is in the United States this week on his second trip in three months to woo foreign investment — seen as key to strengthening the currency and spurring growth.

But he is seen as hampered by political opposition at home to more steps to prise open India’s still heavily state-dominated economy and investor concerns about widespread corruption.

India’s economy has been struggling under high interest rates, strong consumer inflation and weak domestic and foreign investment, as well as a string of graft scandals.

The government has forecast the economy will grow by at least six percent in the financial year that began April 1, after expanding by five percent last year — its slowest pace in a decade.

But private economists have been reducing their forecasts in the past few months with most seeing growth in the five-to-six percent range.

In one piece of positive news out of Friday’s string of downbeat data, June’s trade deficit narrowed from the previous month as gold imports slid in response to government duty hikes to curb consumer appetite for the precious metal.

The merchandise trade gap fell to $12.2 billion in June from $20.1 billion in May, easing market worries about India’s gaping current account deficit — the broadest measure of trade.

Oil imports also fell to $12.7 billion from $15 billion in May. Oil and gold imports are the biggest contributors to the current account deficit. But despite a sharply weaker currency, June exports fell 4.6 percent to $23.79 billion.

And underscoring weak consumer demand, car sales slid nine percent in June from a year earlier, marking a record eighth straight month of decline, other figures showed, and prompting industry calls for a government stimulus package.

“This is certainly the worst period I have seen in a long time,” R.C. Bhargava, chairman of Japanese-controlled Maruti Suzuki, the country’s largest carmaker, said in an interview published Friday.

Bank Profit Up 26%, Reaches Rp 4.3 Trillion

  • Posted on July 23, 2017 at 8:42 am

PT Bank Mandiri (Persero) Tbk managed to earn net profit of Rp 4.3 trillion in the first quarter of 2013. The net profit, up 26.4% from the same period in 2012.

Bank Mandiri president director Budi Gunadi Sadikin said, this positive performance, backed by the credit of Rp 392 trillion through the first quarter, growing 19.7% from the previous period amounted to 327.2 billion.

“Our achievement today is a welcome development. Bank lending, especially to the micro segment, which continues to show improvement, is a realization of our commitment to improve public access in various parts of Indonesia to finance productive,” said Budi time exposure Quarter Financial Statements 2013 in the Plaza Bank Mandiri Jakarta, Monday (04/29/2013).

Budi explained, loan growth occurred in all business segments, particularly in the sector of micro, small and medium enterprises. At the micro segment increased lending by 58.1% from Rp 13.1 trillion to Rp 20.7 trillion in the first quarter of 2013.

“This is in line with the credit growth, the number of micro credit customers also increased from 208.5 thousand to over 327 thousand customers. Meanwhile, credit to the segment of micro, small and medium enterprises (SMEs) grew 46.6% to Rp 55, 6 trillion, “he added.

Mandiri also noted, raising funds from a third party which reached Rp 467 trillion, up from the previous period are valued at Rp 404 trillion. Of these, low-cost funds such as checking and savings amounted to Rp 290 trillion, up 18.7% from the previous position of Rp 244 trillion. Mandiri also had total assets of Rp 641 trillion, up 17.1% over the same period last year. As for the ratio of non-performing loans (NPL) net Mandiri, remained low at the level of 0.57%.