Bakrie exports container cranes<\/p>\n
JAKARTA: PT Trans-Bakrie, a subsidiary of PT Bakrie &
\nBrothers, has shipped six container cranes ordered by Sri Lankan
\ncontainer terminal operator South Asia Gateway Terminal (SAGT).<\/p>\n
The company said on Wednesday that the shipment of the
\ncontainer cranes, worth about US$10 million, was carried out in
\ntwo stages.<\/p>\n
\"The delivery was completed on Saturday of last week with the
\nshipment of three of the six cranes. The first three were shipped
\nseveral months ago,\" PT Bakrie & Brothers' president Bobby Gafur
\nUmar said.<\/p>\n
He said that the six container cranes, which were produced by
\nPT Trans-Bakrie in cooperation with IMPSA Port System of
\nArgentine, would be operated by SAGT at its container terminal in
\nthe Sri Lankan capital of Colombo.<\/p>\n
Bobby said that IMPSA Port provided the design for the six
\ncontainer cranes while PT Trans-Bakrie handled the fabrication
\nwork. -- JP<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-Gresik-cement-sales
\nGresik's cement sales fall 16%
\nJP\/14\/BRIEF<\/p>\n
Gresik's cement sales fall 16%<\/p>\n
JAKARTA: Indonesia's cement maker PT Semen Gresik Wednesday
\nsaid cement sales tumbled 16% to 1.177 million metric tons in May
\nfrom 1.393 million tons in May last year.<\/p>\n
Gresik, Indonesia's largest cement maker, blamed the fall on a
\ndecline in domestic sales and export volumes.<\/p>\n
Semen Gresik's domestic cement sales in May fell 11% to
\n950,868 tons from 1.065 tons last year.<\/p>\n
Exports slumped 31% to 226,220 tons from 328,741 tons a year
\nearlier.<\/p>\n
During the first five months of this year, Gresik's total
\ncement sales fell 13% to 5.148 million tons from 5.912 million
\ntons during the same period last year.<\/p>\n
Gresik underperformed the rest of the industry last month.
\nAccording to data from the National Cement Association,
\ncountrywide cement output in May fell 2% to 2.233 million tons
\nfrom 2.278 million tons in May last year.<\/p>\n
Semen Gresik is 51% owned by the government and 25.53% owned
\nby Mexico's Cemex SA de CV.- Dow Jones<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-PGN-sell-bonds
\nPGN to sell $200m bonds
\nJP\/14\/BRIEF<\/p>\n
PGN to sell $200m bonds<\/p>\n
JAKARTA : Indonesia's state-owned gas distribution company PT
\nPerusahaan Gas Negara, or PGN, confirmed Wednesday that it will
\nsell US$200 million in bonds to fund a gas pipeline, a company
\nofficial said.<\/p>\n
The proceeds will be used to finance the development of a 190-
\nkilometer gas pipeline running from the Gresik gas field in South
\nSumatra to Pagar Dewa on the southern coast of Sumatra.<\/p>\n
PGN's director of operations Sutikno told Dow Jones Newswires
\nthat the company will start the process of selecting underwriters
\nfor the bond this week, which will hopefully be issued in August.
\n\"We have no (underwriting) candidates yet,\" he added.<\/p>\n
The company hasn't decided the coupons and maturity of the
\nbond.<\/p>\n
He said the company may issue between $200 million and $300
\nmillion more in bonds next year to fund the laying of a gas
\npipeline from the Duri gas field in Riau to North Sumatra's port
\nof Belawan. - Dow Jones<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-Timah-hope-profit
\nTimah hopes profit to double
\nJP\/14\/BRIEF<\/p>\n
Timah hopes profit to double<\/p>\n
JAKARTA : Encouraged by improving world tin prices, Indonesian
\ntin producer PT Tambang Timah expects its net profit this year to
\ndouble from last year's Rp 11.28 billion (US$1.3 million).<\/p>\n
\"We expect that the tin prices this year will rise to around
\n$4,500-$4,700 per ton from $4,200 per ton last year,\" Timah's
\nPresident Director Thobrani Alwi told reporters Wednesday.<\/p>\n
Thobrani said he also expects revenue from an excavation
\nproject in Johor, Malaysia, worth $4 million to add to the
\ncompany's bottom line.<\/p>\n
Last year, Timah booked Rp 1.581 trillion in net sales, down
\nfrom Rp 1.867 trillion a year earlier.<\/p>\n
The world's largest tin producer holds exploration and mining
\nrights until 2025 for more than 7,700 square kilometers spread
\nacross several islands and offshore areas in the Java Sea. -- Dow
\nJones<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-Aussie-sell-Telstra
\nAussie to sell 50.1% of Telstra
\nJP\/14\/BRIEF<\/p>\n
Aussie to sell 50.1% of Telstra<\/p>\n
SYDNEY: The Australian government revived plans to sell its
\n50.1 percent stake in communications giant Telstra Wednesday in a
\nmove widely seen as being motivated as much by politics as
\neconomics.<\/p>\n
Communications Minister Richard Alston said legislation would
\ngo before parliament immediately to fully privatise Australia's
\ndominant telecoms company, although the share price was still not
\nhigh enough for an immediate sale.<\/p>\n
Prime Minister John Howard had previously said a sluggish
\nstock market and the lack of support for the Telstra sell-off in
\nthe opposition-controlled Senate was likely to prevent any action
\non the privatisation until at least 2005.<\/p>\n
Reportedly worth about A$35 billion (US$23 billion) in a
\nbuoyant stock market, the sale would be one of Australia's
\nbiggest privatisations. -- AFP<\/p>",
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"sponsor": "Okusi Associates",
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