Semen Gresik April sales fall<\/p>\n
JAKARTA:Indonesia's cement maker PT Semen Gresik Thursday said
\nits total cement sales fell 20 percent to 992,388 metric tons in
\nApril from 1.233 million tons in April last year.<\/p>\n
Gresik, Indonesia's largest cement maker, said the fall was
\ndue to a decline in domestic sales and export volumes.<\/p>\n
Semen Gresik's domestic cement sales in April fell 7 percent
\nto 849,788 tons from 914,054 tons last year.<\/p>\n
Exports declined 55 percent to 142,600 tons from 318,842 tons.<\/p>\n
According to data from the National Cement Association,
\ncountrywide cement output in April fell 5.1 percent to 2.023
\nmillion tons from 2.131 million tons in April last year.<\/p>\n
Semen Gresik is 51 percent owned by the government and 25.53
\npercent owned by Mexico's Cemex SA de CV (CX).<\/p>\n
Tuesday, Gresik said shareholders will vote in December
\nwhether to spin off its unit Semen Padang, which contributed 36
\npercent to Gresik's total cement sales in April.--Dow Jones<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-PLN-price-cuts
\nPLN agrees price cuts
\nJP\/14\/brief<\/p>\n
PLN agrees price cuts<\/p>\n
JAKARTA: PT Perusahaan Listrik Negara (PLN), Indonesia's state
\nutility company, reached agreement on price cuts or buyouts with
\n26 independent power producers, Energy and Mineral Resources
\nMinister Purnomo Yusgiantoro said.<\/p>\n
"By reaching agreements with 26 producers, we are able to
\nshow the market that we can settle our dispute and that private
\nproducers can operate in this country," Purnomo told reporters
\nafter a cabinet meeting.<\/p>\n
The utility has been trying to renegotiate power purchase
\nagreements amounting to US$133 billion over 30 years with 27
\nindependent producers, mostly backed by overseas investors, after
\nthe Indonesian rupiah's collapse during the Asian financial crisis
\nin 1998 forced PLN to sell electricity to consumers at a loss. --
\nBloomberg<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-APP-export-credit
\nAPP to meet export credit agencies
\nJP\/14\/brief<\/p>\n
APP to meet export credit agencies<\/p>\n
JAKARTA: Asia Pulp & Paper Co. will meet key creditors tomorrow
\nto discuss their proposal for protection from a second debt
\ndefault, the head of the Indonesian Bank Restructuring Agency
\n(IBRA) said.<\/p>\n
The meeting was delayed on Wednesday as the export credit
\nagencies owed the bulk of the outstanding debt of more than US$13
\nbillion hammered out details of their proposal, IBRA chief
\nSyafruddin Temenggung told reporters on the sidelines of an
\ninvestor forum.<\/p>\n
The creditors include Japan's Nippon Export & Investment
\nInsurance and export credit agencies from the U.S. and
\nGermany.<\/p>\n
Asia Pulp has been negotiating a debt recast with lenders
\nafter a default 27 months ago, the success of which is key to
\nrestoring investor confidence in Indonesia. IBRA, which is owed $1
\nbillion, is mediating in the debt talks between the company and
\noverseas lenders. -- Bloomberg<\/p>",
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"sponsor": "Okusi Associates",
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