Riffrag Business & Finance Report

PT Tambang Coal Bukit Asam Tbk (PTBA) will increase its shareholding in PT Transpacific Railway Infrastructure that will work on the construction of the railway project and a coal port in South Sumatra.

It is said to be the Managing Director of Corporate Relations, Mining & Resources Rajawali Group Darjoto envoy told reporters during a public presentation event Eatertainment International Tbk PT (SMMT) in Jakarta on Monday (6/21/2010).

In addition, he also said that PTBA will increase shareholding in PT Transpacific Railway Infrastructure development will be working on this project.

“PTBA wants to raise its share, approximately 10-35 percent of the portion of the current ownership. The total investment remains the same Rp1, 5 billion. But later, the portion of its ownership could change,” he added.

He continued, if the plan PTBA it done, then the portion of the shares in PT Bukit Asam Transpacific Railway is 55 percent owned by the Rajawali Group, PT Bukit Asam Transpacific Railway (BATR), China Railway Group Limited (10 percent) and PTBA 35 percent.

For your information, Transpacific is 80 percent owner of PT Bukit Asam same Transpacific Railway (BATR). While other owners are China Railway Group Limited (10 percent) and PTBA 10 percent.

Later, BATR will be working on the railway line along the 307 kilometers with a payload capacity 27 million tons per year. Coal is transported in railway construction project and the port’s coal comes from mines Banko Tengah, Tanjung Enim, South Sumatra to Srengsem, Lampung

President Director Bentoel Nicolaas B Tirtadinata appointed as President Director of PT Eatertainment International Tbk (SMMT).

This was conveyed by him to reporters in direct exposure to the public after the Annual General Meeting and Extraordinary General Meeting Eatertainment International Tbk PT (SMMT) in Jakarta on Monday (6/21/2010).

“The decision generated the AGM this year was the company does not distribute dividends to shareholders, so that the entire net income in 2009 amounted to Rp1, 865 billion will be used as retained earnings,” he explained.

In addition, he continued, this time in the EGM which was held after the AGM in addition to specify the composition of the new commissioners, the company also decided to transfer the liability amounted to Rp12 billion debt from Credit Suisse to Indrajaty Hadi Wardojo as commissioner of the SMMT.

Associated with the target in 2010, the company set a target to increase transactions and sales, franchise sales optimaliasi owned company, and increase transaction rons crazy Tuesday at papa pizza.

“Meanwhile, details relating to our funds as the board of directors has not been set, give us three months to come, and we will announce to the public,” he concluded.

The composition of the board of commissioners and directors of the SMMT today is:

Board of Commissioners:
Commissioner: Darjoto Setiawan.
Commissioners: Day Wiguna.
Commissioners: Indrajaty Wardojo Hadi.
Commissioners: suharta Tirta Atmadja (Independent Commissioner).

Board of Directors:
Director: Nicolaas B Tirtadinata.
Director: Tech Sie An.
Director: Brian octo

JAKARTA – Transpacific Railway Infrastrusture, Rajawali Group will use the services of contractors from China, Enginering, Procurement, and Construction (EPC) associated with railway construction project and a coal port in South Sumatra.

“Because of its contractors from China, it also funds from banks in China. But it is possible for local banks to invest,” says Managing Director of Corporate Relations, Mining & Resources Rajawali Group, Darjoto envoy told reporters during a public presentation event Eatertainment International Tbk PT ( SMMT) in Jakarta on Monday (6/21/2010).

According to him, are now four banks in China that have been submitted for credit lending. Namely, ICBC, Exim Bank, and Bank of China. He said that currently new in design.

“Today the designs are created, it can take six to eight months. Not to expropriate their land, roughly six months to a year before entering the preparation phase of construction,” he explained.

For your information, the project value approximately USD1, 5 billion with a debt to equity ratio of 70 percent and 30 percent of the Rajawali Group, an affiliate company, PT Bukit Asam Transpacific Railway (BATR)

President Director of PT Pertamina (Persero) Karen says if the child business Agustiawan Pertamina, PT Pertamina Upstream Energy (PHE) will be enlisting in the Indonesia Stock Exchange (IDX) on January 2, 2011 next.

“The listed date of January 2, 2011 a subsidiary of Pertamina (PHE),” explained Karen recently in Jakarta.

Previously, Director of Planning and Investment Risk Management PHE Frederick Siahaan said Pertamina will remove approximately 20-30 percent stake to the public in the Parliament some time ago.

He said the funding was targeted from the IPO could match PHE IPO of PT Telekomunikasi Indonesia Tbk (TLKM) in 1995. “The funds can reap approximately Rp10 trillion,” he explained.

Later, funds will be used to acquire oil and gas fields both from within and abroad and increase the investment portfolio so that oil and gas production could reach one million barrels oil per day (bopd) at the upcoming 2015.

After PHE go public, the next targets were PT Pertamina Geothermal Energy (PGE) and PT Pertamina Gas (Pertagas) which will go public

- Indonesia’s ranking rise by Moddy’s and weakening China’s stance in maintaining the value of its yuan strengthening rupiah seems to be the reason this time.

Based on the middle rate of Bank Indonesia (BI), the rupiah Monday (06/21/2010) suffered penetrating nearly to the level of reinforcement Rp9.000. Rupiah closed at Rp9.015 level, strengthened when compared to the previous weekend in Rp9.135.

While based on the yahoofinance, the rupiah strengthened through the psychological barrier even Rp9.000. Rupiah was in a position Rp8.997, five with the trading range 0.5-Rp9 Rp8.997 .090.

Apparently there are two main reasons mengerak the rupiah strengthened. First, China appeared to be softening in maintaining its yuan peg. Strengthening the yuan would balance the global economy and positive for the exporting countries.

This will also make prices cheaper for China, triggering speculation will increase the demand for commodities by China.

In addition, Moody’s Investors Service today (21/06/2010) Indonesia’s debt rating raised dominate rupiah and foreign currency from stable to positive by Ba2 level.

This afternoon, the rupiah exchange rate against U.S. dollar (U.S.) rose slightly from Rp9.148 become Rp9.010. “This announcement would attract capital into the bond market in Indonesia and help strengthen the rupiah,” said Standard Chartered Bank economist Eric Alexander Sugandi in Jakarta.