PGN to launch $250M bond roadshow<\/p>\n
JAKARTA: Indonesia's state-owned gas distribution company PT
\nPerusahaan Gas Negara (PGN) will embark on an overseas trip in
\nAugust to market the first tranche of a planned US$500 million
\nbond.<\/p>\n
The company's President Director Washington Simanjuntak said
\nWednesday the marketing team will meet with prospective investors
\nin Singapore, Hong Kong and London.<\/p>\n
PGN is expected to offer up to $250 million in the bonds as
\nthe first tranche. The funds will be used to help finance gas
\npipeline projects in Sumatra. One of the projects will channel
\ngas from south Sumatra to West Java.<\/p>\n
Washington declined to name the underwriter for the bond
\nissue.<\/p>\n
But market sources said Credit Suisse First Boston has been
\nselected as the underwriter.<\/p>\n
The bonds will be listed on the Singapore Stock Exchange in
\nSeptember, Washington added. -- Dow Jones<\/p>\n
;;
\nANPAf..r..
\nCorporateBrief-Korea-KTF
\nKTF to set up unit in Indonesia
\nJP\/14\/KTF<\/p>\n
KTF to set up unit in Indonesia<\/p>\n
SEOUL: South Korea's KTF Co. said on Wednesday it has signed a
\ncontract with PT Mobile-8 Telecom of Indonesia to provide
\nwireless consulting services and network systems in a deal valued
\nat US$17.5 million.<\/p>\n
KTF, South Korea's second largest wireless operator, will
\nprovide consulting services on code division multiple access 1x
\nnetworks, wireless data and billing services through June 2006.<\/p>\n
KTF said it plans to set up a unit in Indonesia in August and
\ntransfer some employees to the region. It didn't provide more
\nspecific details.<\/p>\n
PT Mobile-8 is scheduled to launch wireless services based on
\nCDMA2000 1x technology in Jakarta by the end of this year.<\/p>\n
Last month, mobile handset maker Samsung Electronics Co.
\nsigned a $120 million deal with PT Mobile-8 to provide CDMA
\nsystems.<\/p>\n
Shortly after the markets opened, KTF shares rose 1.3 percent,
\nor 300 won, to 23,600 won on the technology-laden Kosdaq market.
\n-- Dow Jones<\/p>\n
;;
\nANPAf..r..
\nCorporateBrief-CNPC
\nCNPC buys refineries in Algeria
\nJP\/14\/CNPC<\/p>\n
CNPC buys refineries in Algeria<\/p>\n
BEIJING: China National Petroleum Corp. (CNPC) has expanded
\nits oil interests in Africa with the purchase of several refining
\nbusinesses in Algeria for US$350 million, state press reported on
\nWednesday.<\/p>\n
PetroChina Exploration and Development Co., a unit of CNPC,
\nsigned a contract last week with Algerian firm Hydrogen Carbide
\nto jointly develop oilfields, and build and operate a refinery in
\nthe southwest part of the country, the China Business weekly
\nreported, without citing sources.<\/p>\n
CNPC will hold a 70 percent share in the company, the report
\nsaid.<\/p>\n
The deal allows the two companies to operate the SBAA oilfield
\nin Adrar for 23 years, with annual output expected to reach
\n600,000 tons.<\/p>\n
CNPC officials have long eyed Algeria as a vital source of
\noverseas oil for an increasingly energy-hungry China.<\/p>\n
CNPC reportedly plans to ship up to 5.0 million tons of crude
\noil a year from Algeria by 2005, which would make it China's
\nsecond-biggest overseas oil production base behind Sudan. -- AFP<\/p>",
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