Bakrie exports container cranes
Bakrie exports container cranes
JAKARTA: PT Trans-Bakrie, a subsidiary of PT Bakrie & Brothers, has shipped six container cranes ordered by Sri Lankan container terminal operator South Asia Gateway Terminal (SAGT).
The company said on Wednesday that the shipment of the container cranes, worth about US$10 million, was carried out in two stages.
"The delivery was completed on Saturday of last week with the shipment of three of the six cranes. The first three were shipped several months ago," PT Bakrie & Brothers' president Bobby Gafur Umar said.
He said that the six container cranes, which were produced by PT Trans-Bakrie in cooperation with IMPSA Port System of Argentine, would be operated by SAGT at its container terminal in the Sri Lankan capital of Colombo.
Bobby said that IMPSA Port provided the design for the six container cranes while PT Trans-Bakrie handled the fabrication work. -- JP
;Agencies; ANPAf..r.. CorporateBrief-Gresik-cement-sales Gresik's cement sales fall 16% JP/14/BRIEF
Gresik's cement sales fall 16%
JAKARTA: Indonesia's cement maker PT Semen Gresik Wednesday said cement sales tumbled 16% to 1.177 million metric tons in May from 1.393 million tons in May last year.
Gresik, Indonesia's largest cement maker, blamed the fall on a decline in domestic sales and export volumes.
Semen Gresik's domestic cement sales in May fell 11% to 950,868 tons from 1.065 tons last year.
Exports slumped 31% to 226,220 tons from 328,741 tons a year earlier.
During the first five months of this year, Gresik's total cement sales fell 13% to 5.148 million tons from 5.912 million tons during the same period last year.
Gresik underperformed the rest of the industry last month. According to data from the National Cement Association, countrywide cement output in May fell 2% to 2.233 million tons from 2.278 million tons in May last year.
Semen Gresik is 51% owned by the government and 25.53% owned by Mexico's Cemex SA de CV.- Dow Jones
;Agencies; ANPAf..r.. CorporateBrief-PGN-sell-bonds PGN to sell $200m bonds JP/14/BRIEF
PGN to sell $200m bonds
JAKARTA : Indonesia's state-owned gas distribution company PT Perusahaan Gas Negara, or PGN, confirmed Wednesday that it will sell US$200 million in bonds to fund a gas pipeline, a company official said.
The proceeds will be used to finance the development of a 190- kilometer gas pipeline running from the Gresik gas field in South Sumatra to Pagar Dewa on the southern coast of Sumatra.
PGN's director of operations Sutikno told Dow Jones Newswires that the company will start the process of selecting underwriters for the bond this week, which will hopefully be issued in August. "We have no (underwriting) candidates yet," he added.
The company hasn't decided the coupons and maturity of the bond.
He said the company may issue between $200 million and $300 million more in bonds next year to fund the laying of a gas pipeline from the Duri gas field in Riau to North Sumatra's port of Belawan. - Dow Jones
;Agencies; ANPAf..r.. CorporateBrief-Timah-hope-profit Timah hopes profit to double JP/14/BRIEF
Timah hopes profit to double
JAKARTA : Encouraged by improving world tin prices, Indonesian tin producer PT Tambang Timah expects its net profit this year to double from last year's Rp 11.28 billion (US$1.3 million).
"We expect that the tin prices this year will rise to around $4,500-$4,700 per ton from $4,200 per ton last year," Timah's President Director Thobrani Alwi told reporters Wednesday.
Thobrani said he also expects revenue from an excavation project in Johor, Malaysia, worth $4 million to add to the company's bottom line.
Last year, Timah booked Rp 1.581 trillion in net sales, down from Rp 1.867 trillion a year earlier.
The world's largest tin producer holds exploration and mining rights until 2025 for more than 7,700 square kilometers spread across several islands and offshore areas in the Java Sea. -- Dow Jones
;Agencies; ANPAf..r.. CorporateBrief-Aussie-sell-Telstra Aussie to sell 50.1% of Telstra JP/14/BRIEF
Aussie to sell 50.1% of Telstra
SYDNEY: The Australian government revived plans to sell its 50.1 percent stake in communications giant Telstra Wednesday in a move widely seen as being motivated as much by politics as economics.
Communications Minister Richard Alston said legislation would go before parliament immediately to fully privatise Australia's dominant telecoms company, although the share price was still not high enough for an immediate sale.
Prime Minister John Howard had previously said a sluggish stock market and the lack of support for the Telstra sell-off in the opposition-controlled Senate was likely to prevent any action on the privatisation until at least 2005.
Reportedly worth about A$35 billion (US$23 billion) in a buoyant stock market, the sale would be one of Australia's biggest privatisations. -- AFP