Indonesian Political, Business & Finance News

Archive: 26 April 2007

13 articles found

Rp 300 billion sugar refinery to be built in West Sumatra

Syofiardi Bachyul Jb, The Jakarta Post, Padang, West Sumatra PT Semesta Berjaya is set to build a sugar refinery in the Padang Industrial Park, Padang Pariaman regency, West Sumatra, at a cost of some Rp 300 billion (about US$33.3 million). Company director Burhanuddin said the refinery, which would be built on a 7-hectare site, would have a refining capacity of 500 tons per day and was expected to meet surging sugar demand in the province.

BCA expects 50 percent increase in house loans

Publicly listed Bank Central Asia (BCA) plans to boost its housing loans by 50 percent to about Rp 6.45 trillion (some US$715 million) this year from Rp 4.3 trillion last year to cash in on the revival in the country's property market. BCA managing director Suwignyo Budiman told a press briefing in Jakarta on Wednesday that the demand for housing loans had grown rapidly in the first quarter amid renewed interest in real estate.

CD Prima planning to bid for Dipasena

The world's biggest shrimp producer, PT Central Proteinaprima (CP Prima), announced Wednesday that it planned to bid for another acquaculture firm, PT Dipasena Citra Darmaja, in a move that would further expand its shrimp farming business.

Hotel Sahid to build new hotel, offices and apartments

Publicly listed star-rated hotel chain PT Hotel Sahid Jaya International Tbk. is set to expand its business by building a new hotel, and office and apartment buildings in Jakarta at a total cost of Rp 1.82 trillion (US$200 million) next year. Finance director Muhammad Nurdin said Wednesday that the company would start the construction of the hotel and office towers, to be called the Sahid Perdana, early next year. The construction work was expected to be completed by the end of 2009.

Seven gas contracts worth $3.1 billion signed

JAKARTA (Antara): The Indonesian Implementing Body of Oil and Gas (BP Migas) signed Wednesday seven gas contracts with a total volume of 738.52 trillion British thermal units worth US$3.1billion. The gas would be used to supply power plant, fertilizer firms, oil refinery and other industries. BP Migas head Kardaya Warnika said the gas contracts were necessary to maintain the availability of gas at home.

Newmont considers expanding operations in RI after acquittal

MANADO, North Sulawesi (AP): Newmont Mining Corp. said Wednesday it was considering expanding its investment in Indonesia following the acquittal of a U.S. executive accused of dumping dangerous levels of toxins into a bay on Sulawesi island, sickening villagers. But analysts say they don't expect foreign investors - who remain wary about corruption, poor infrastructure, red tape and legal uncertainties - to flock to the resource-rich nation as a result of the high-profile verdict.

First-quarter investment inflows in W Java reaches Rp5 trillion

Bandung, W Java (ANTARA News) - Investment inflows to West Java province in the first quarter of 2007 reached an estimated Rp5 trillion, an official said. "Most of the investment went to the manufacturing sector," Head of the West Java Regional Investment Coordinating Board (BPMD) Ishak Suratman said here on Wednesday. One of the biggest investment projects was an automotive plant in Karawang with a total investment of US$45 million, he said.

Japan agrees to let in Indonesian fruits

quality control is a big problem at the best of times in indonesia. doesn't matter so much in areas such as reproduction wood furniture, where imperfections can be put down to "art". consistency is another huge problem. for the japanese, quality and consistency are extremely important. they didn't invent the word "anal", but they reversed engineered it and now they do it better than anyone else in the world. picky, fault-finding, fusspots.

Japan agrees to let in Indonesian fruits

Interesting to see if Indonesian fruit can have any impact in Japan. The one thing the Japanese value over everything is QUALITY. You may be paying $10 for a peach in Japan but I can guarantee you its the biggest, juiciest, sweetest peach you ever tasted!

Japan agrees to let in Indonesian fruits

Tokyo, Japan (ANTARA News) - The Japanese government has finally agreed to allow Indonesian fruits, mangoes in particular, to enter Japan and also to help Indonesia fight fruit flies in order for its fruits to meet Japan`s quality standards, an Indonesian official said. "With the agreement, the Japanese market has been thrown wide open for Indonesian fruits," Pudjiatmoko, agricultural attache at the Indonesian Embassy here, said on Wednesday.

Exporters deserve to be called "heroes of development": minister

Surabaya, E Java (ANTARA News) - Trade Minister Mari Elka Pangestu said exporters deserved to get awards as "heroes of development" for their role in activating the national economy, creating job opportunities and supporting the government`s programs to eradicate poverty. She made the remark when opening the seventh national conference and fifth regional conference of the Indonesian Exporters Association (GPEI) here on Wednesday.

S Korean investor ready to develop biofuel industry in NTT

Kupang, NTT (ANTARA News) - A South Korean investor based in Joellanam-Do province is ready to invest US$100 million in biodiesel oil and biofuel production projects in different parts of Indonesia, including East Nusatenggara (NTT), a prvincial official said.

RI 'lags behind' in ASEAN trade

Despite its remarkable export growth last year, Indonesia, unlike other ASEAN countries, has failed to cash in on increasing trade opportunities in emerging markets, a business analyst says.