PTA firm expands capacity<\/p>\n
JAKARTA (JP): PT Bakrie Kasei Corporation has doubled its
\nproduction capacity of purified terephthalic acid (PTA) to
\n600,000 tons per annum, from 300,000 tons.<\/p>\n
The company said yesterday that it had just completed the
\nconstruction of its second PTA plant in Serang, West Java, for a
\ntotal cost of US$210 million.<\/p>\n
The plant, with a capacity of 300,000 tons per annum, will
\nbegin commercial production later this month.<\/p>\n
Bakrie Kasei is 51 percent owned by Mitsubishi Chemical
\nCorporation of Japan, 20 percent by PT Bakrie & Brothers, 19
\npercent by Japan Asia Investment Co. Ltd. and 10 percent by
\nInternational Finance Corporation, an affiliate of the World
\nBank.<\/p>\n
Meanwhile, PT Bakrie Diafoil, a joint venture between Bakrie
\nKasei and Diafoil Hoechst Co. Ltd. of Germany, has also finished
\nconstructing its polyester film plant in Serang.<\/p>\n
The plant, with a production capacity of 4,200 tons of
\npolyester film per annum, will start its commercial production
\nlater this month. (rid)<\/p>\n
;JP;RID;
\nANPAf..r..
\nBizbrief--asphalt-Buton
\nButon asphalt for Vietnam
\nJP\/9\/COLBOX2<\/p>\n
Buton asphalt for Vietnam<\/p>\n
JAKARTA (JP): Facing difficulties in marketing its asphalt
\ndomestically, foreign investment firm PT Amerta Margayasa Aspal
\nplans to export its products to a number of neighboring
\ncountries.<\/p>\n
The company's president, John Huliselan, was quoted yesterday
\nby Antara as saying that the Vietnamese government had expressed
\ninterest in importing its micro-asphalt, produced on Buton
\nisland, Southeast Sulawesi.<\/p>\n
\"This is a great success for us in promoting Buton's micro-
\nasphalt abroad,\" Huliselan said. He added that his company had
\nconducted a series of seminars and demonstrations on the use of
\nmicro-asphalt in Vietnam.<\/p>\n
He said that other countries interested in importing the
\nmicro-asphalt included Singapore, Malaysia, Papua New Guinea and
\nAustralia. The company will soon export 500 tons to Australia.<\/p>\n
The Australia-affiliated Amerta Margayasa used to produce
\nmicro-asphalt, with a total output of 50,000 tons per annum, but
\nmanaged to sell only 20,000 tons per annum on the domestic
\nmarket.<\/p>\n
Besides micro-asphalt, the company also produced butonite
\nmastic asphalt. However, it has halted production of its butonite
\nmastic asphalt since last year, due to a large stock in
\ninventory. (rid)<\/p>\n
;JP;RID;
\nANPAf..r..
\nBizbrief-tax-ship
\nGovt waives ship tax
\nJP\/9\/COLBOX3<\/p>\n
Govt waives ship tax<\/p>\n
JAKARTA (JP): The government, through a ministerial decree,
\nhas waived tax on the transfer of ship ownership in a bid to
\nencourage the development of domestic shipping and fishery
\nindustries.<\/p>\n
The decree, dated June 19, stipulates that such a tax facility
\napplies to ships procured by domestic firms or individuals from
\neither foreign or domestic sellers.<\/p>\n
To further encourage domestic shipping and fishery industries,
\nthe government is expected to announce today another reform
\npackage, which includes a lifting of the ban on buying and
\noperating foreign ships in Indonesian waters. (rid)<\/p>\n
;JP;MDS;
\nANPAf..r..
\nBizbrief-RI-Mongolia
\nRI, Mongolia sign deal
\nJP\/9\/COLBOX4<\/p>\n
RI, Mongolia sign deal<\/p>\n
JAKARTA (JP): Indonesia and Mongolia have signed an agreement
\non the avoidance of double taxation and the prevention of tax
\nevasion with respect to taxes on incomes.<\/p>\n
The agreement was signed in Ulaan Bataar on Tuesday by
\nIndonesian Ambassador Rachmat Witoelar and Mongolian Deputy
\nMinister of Finance S. Ochipurev.<\/p>\n
The aim of the agreement is to enforce taxation for
\nindividuals and entities that have business contacts, including
\nrendering facilities to parties from both countries.<\/p>\n
Indonesia is also offering Mongolia programs in technical
\ncooperation in the fields of heath treatment and family
\nplanning.(mds)<\/p>\n
;JP;ALO;
\nANPAf..r..
\nBizbrief-Share-Lippo
\nLippo Land shares acquired
\nJP\/9\/COLBOX5<\/p>\n
Lippo Land shares acquired<\/p>\n
JAKARTA (JP): China Resources yesterday purchased a 5 percent
\nstake in PT Lippo Land Development at Rp 64 billion (US$27.1
\nmillion) through the Jakarta Stock Exchange (JSX), the latter
\ncompany said in a statement.<\/p>\n
The purchased shares were previously owned by the Riady
\nfamily, the founder of the Lippo Group.<\/p>\n
The 5 percent stake represents 12.4 million of Lippo Land's
\nshares.<\/p>\n
The transaction was executed at a price of Rp 5,150 per share,
\nrepresenting a 4.2 percent discount from yesterday's closing
\nprice, the statement said.<\/p>\n
It also reported that China Resources has bought a 5.2 percent
\nstake in PT Lippo Karawaci, a subsidiary of Lippo Land, which was
\nlisted on the JSX last week. (alo)<\/p>\n
;REUTER;
\nANPAf..r..
\nBizbrief-QNI-nickel
\nQNI looks at nickel plant
\nJP\/9\/COLBOX6<\/p>\n
QNI looks at nickel plant<\/p>\n
SYDNEY (Reuter): QNI Ltd said yesterday its South Africa's
\nGencor Ltd and Indonesia's state-owned PT Aneka Tambang were
\nlooking at developing an integrated nickel and cobalt processing
\nfacility in Indonesia and Australia.<\/p>\n
QNI Managing Director Wyn Davies said in a statement the study
\nwould be funded equally by QNI and Gencor and was expected to
\ntake nine months.<\/p>\n
He said the strategic alliance between the three parties would
\ndraw on their collective strengths, including:<\/p>\n
. Aneka Tambang's mining and operating experience and
\nownership of lateritic deposits in Indonesia,<\/p>\n
. Gencor's developing technology for nickel processing and
\noperating experience in Indonesia through its Billiton
\nsubsidiaries, and,<\/p>\n
. QNI's unique ammonia leach technology developed at its
\nYabulu Refinery in Australia.<\/p>\n
Gencor has developed a technique for using bacteria to process
\nusually difficult ore bodies containing gold, copper and nickel.<\/p>\n
The scoping study would look at;<\/p>\n
. developing a number of underdeveloped lateritic nickel ore
\ndeposits in Indonesia,<\/p>\n
. constructing a nickel smelter in Indonesia using Gencor
\ntechnology,<\/p>\n
. constructing an ammonia leach plant in Indonesia to process
\nore to carbonate stage, and,<\/p>\n
. expanding the product section of the Yabulu Refinery in
\nAustralia to take the additional carbonate feed.<\/p>\n
;REUTER;
\nANPAf..r..
\nBizbrief-Salim-takeover
\nSalim to take over QAF
\nJP\/9\/COLBOX7<\/p>\n
Salim to take over QAF<\/p>\n
SINGAPORE (Reuter): Indonesia's Salim group said yesterday it
\nhas made a conditional takeover offer for bread company, QAF Ltd,
\nafter the exercise of call options for QAF shares and the
\npurchase of more shares.<\/p>\n
The Salim group, through its wholly-owned subsidiary, Qualif
\nPte Ltd, a subsidiary of its Singapore investment arm KMP Pte
\nLtd, is offering S$2 per share and $1.10 per warrant for the
\nshares and warrants it does not already own.<\/p>\n
The mandatory takeover offer was triggered after Qualif's
\nexercise of its call option agreement to buy 25 million QAF
\nshares at Singapore $1.93 each and 2.5 million warrants at
\nSingapore $1.02 each on Tuesday, a company announcement said
\nyesterday.<\/p>\n
With the exercise of the share options and warrants, the Salim
\ngroup now owns 104.97 million shares and 11.46 million warrants
\nrepresenting a 33.2 percent stake in QAF.<\/p>\n
Under Singapore's rules on takeovers and mergers, a takeover
\noffer has to be made if 25 percent ownership of a company has
\nbeen reached.<\/p>\n
Qualif said the takeover offer is conditional on the company
\nreceiving acceptances which will result in it carrying over 50
\npercent of the voting rights in QAF.<\/p>\n
QAF shares were suspended on Tuesday at the company's request.
\nYesterday they were trading up S$0.05 at S$1.96.<\/p>\n
KMP is wholly-owned by certain members of the Salim family,
\nLiem Sioe Liong, Anthony Salim, Andree Halim and Mira Salim, the
\nstatement from Qualif said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pta-firm-expands-capacity-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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