Indofood names underwriters<\/p>\n
JAKARTA : Indonesia's largest food company PT Indofood Sukses
\nMakmur has named four underwriters for its upcoming five-year
\nbond issue.<\/p>\n
The four underwriters are PT ING Baring Securities Indonesia,
\nPT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri
\nSekuritas, it said.<\/p>\n
The company will issue Rp 1 trillion (US$112 million) in bonds
\nin the second quarter of the year to refinance existing short-
\nterm debt. The company hasn't decided on the coupon yet.<\/p>\n
Falling interest rates in Indonesia are providing local
\ncompanies with opportunities to raise funds at more attractive
\ninterest rates. --Dow Jones
\n
\n;DJ;
\nANPAf..r..
\nCorporateBrief-Sampoerna-profit
\nSampoerna's net profit rises 75%
\nJP\/14\/brief<\/p>\n
Sampoerna's net profit rises 75%<\/p>\n
JAKARTA : Indonesia's second largest clove cigarette maker PT
\nHanjaya Mandala Sampoerna said on Thursday its net profit rose 75
\npercent in 2002 to Rp 1.67 trillion (US$187 million) from Rp
\n955.41 billion a year earlier.<\/p>\n
The sharp increase in net profit is partly due to a change in
\naccounting methods applied to derivative and hedging
\ntransactions, which caused an adjustment in the 2001 net profit
\nfrom the Rp 1.48 trillion reported last year, the company said.<\/p>\n
On an operational level, the company said net sales rose 7.5
\npercent in 2002 to Rp 15.13 trillion from Rp 14.07 trillion in
\n2001 and gross profit rose 13 percent to Rp 4.61 trillion from Rp
\n4.07 trillion.<\/p>\n
Meanwhile, operating profit rose to Rp 2.73 trillion from Rp
\n2.65 trillion.<\/p>\n
The company didn't provide any further comment on its
\nperformance. --Dow Jones
\n
\n;DJ;
\nANPAf..r..
\nCorporateBrief-Bogasari-Singapore
\nBogasari starts up plant in S'pore
\nJP\/14\/brief<\/p>\n
Bogasari starts up plant in S'pore<\/p>\n
SINGAPORE: Indonesia's Bogasari Flour Mills has started
\nrunning in Singapore its first overseas flour plant, a senior
\ncompany official told Dow Jones on Thursday.<\/p>\n
Bogasari International is currently running at under 30
\npercent of full capacity of 60,000 metric tons of high-grade
\nflour a year, said Philip Purnama, Bogasari's senior vice
\npresident and chief commercial officer.<\/p>\n
\"We started operation in March. Our target is to run at 60
\npercent capacity by the end of the year,\" said Purnama.<\/p>\n
Bogasari, the biggest flour miller and wheat importer in
\nIndonesia, is also the world's biggest flour miller, with a
\n10,000-ton wheat milling capacity in Jakarta and a 6,000-ton
\nmilling capacity in Surabaya.<\/p>\n
The flour miller is a division of the world's leading instant
\nnoodle maker, PT Indofood Sukses Makmur, and part of Indonesia's
\nSalim Group. -- Dow Jones<\/p>\n
;DJ;
\nANPAf..r..
\nCorporateBrief-Telkom-Motorola
\nTelkom, Motorola to build fixed phone
\nJP\/14\/brief<\/p>\n
Telkom, Motorola to build fixed phone<\/p>\n
JAKARTA: State-owned telecommunications company PT
\nTelekomunikasi Indonesia (Telkom) said Thursday it has signed an
\nagreement with Motorola Inc. to build 225,000 fixed wireless
\ntelephones in Sumatra Province until approximately mid-2006.<\/p>\n
Each fixed wireless telephone will cost US$116 to produce and
\ninstall, Telkom said in a statement.<\/p>\n
Under the agreement, the U.S. company will design, develop and
\nbuild the fixed wireless telephone network, which will use the
\ncode division multiple access, or CDMA 2001-X, system. Telkom
\nwill operate the network.<\/p>\n
Unlike a cellular phone, which uses satellites to transmit its
\ncalls, a fixed wireless telephone uses a base station and has a
\nlimited range. An advantage of fixed wireless is the ability to
\nconnect users in remote areas without the need for laying new
\ncables.<\/p>\n
Telkom operates more than 7.5 million fixed lines across
\nIndonesia. The government has 52 percent stake in Telkom, while
\nthe rest is owned by the public. -- Dow Jones<\/p>\n
;DJ;
\nANPAf..r..
\nCorporateBrief-Hyundai-Pertamina
\nHyundai to build ships for Pertamina
\nJP\/14\/brief<\/p>\n
Hyundai to build ships for Pertamina<\/p>\n
JAKARTA: National oil and gas company Pertamina on Thursday
\nsigned a contract with South Korea's Hyundai Heavy Industries Co.
\nfor the construction of two very large crude carriers.<\/p>\n
The tankers, which will have the capacity to carry two million
\nbarrels of crude oil, cost US$65.4 million each, said Pertamina's
\ndownstream director Muchsin Bahar.<\/p>\n
Hyundai will deliver the first tanker in September 2004, and
\nthe second one three months later, Muchsin told reporters. The
\ntankers will ship crude oil from the Middle East to Pertamina's
\nrefinery in Cilacap.<\/p>\n
The contract is part of Pertamina's plan to buy 12 tankers
\nthis year. In addition to these 12, Muchsin said Pertamina plans
\nto buy another 26 new tankers within the next five years. -- Dow
\nJones<\/p>",
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