Government Support Loan Fund Pertamina Search
Bank June 25th, 2010
JAKARTA – The government opened the door for PT Pertamina (Persero) to find the loan amounting to USD1, 5 billion from international financial institutions. Because, Pertamina has not determined will request the loan to which side.
“We have already approved several loans to foreign countries to SOEs. One of them Pertamina for USD1, 5 billion,” said Mustafa Abubakar, Minister of State in the Office of Coordinating Minister for Economic Affairs, Jalan Banteng Square, Jakarta, Monday (06/21/2010).
Although already approved, but until recently Pertamina has not determined which side will be asked for a loan, but his plans remain to be realized in this year. “I can from anywhere, can the World Bank, ADB and others,” he explained.
Later, the proceeds from the loan would be used by companies that red plate for expansion and investments this year. “The important thing is we approve of,” he said
Still weary with the State Shopping
Finance June 25th, 2010
The government recorded a budget surplus amounting to Rp60, 3 trillion until June 15, 2010, as compared with the same period last year which only amounted to Rp11, 7 trillion.
However, precisely due to the amount of the surplus is still a lack of absorption of government spending particularly in the Ministries and Institutions (K / L). The realization of state revenue until June 15, 2010 amounted to Rp386, 7 billion or 39 percent.
State revenue is divided into domestic revenue, namely tax revenue amounting to Rp300, 5 trillion, or 40.4 percent of which consists of domestic tax components of Rp290, 4 trillion, or 40.3 percent, and international trade taxes to Rp40, 1 trillion, or 44.9 percent.
Meanwhile, state revenues amounted to Rp85, 9 trillion, or 34.7 percent, and grants Rp167, three billion or 8.8 percent.
Actual expenditure up to the same period was recorded Rp326, new 3 trillion or 28.9 percent of central government expenditure amounted to Rp198, 7 billion or 25.43 percent, transfers to the regions Rp127, 6 trillion or 37 percent.
The realization of local government expenditures are divided into personnel expenditure amounting to Rp62, 3 trillion, or 38 percent, spending on goods Rp25, 4 trillion or 22.9 per cent and capital expenditure Rp14, 4 trillion, or 16.4 percent.
“We still have budget surplus amounted to Rp60, 3 trillion, so we had a deficit this time,” said Director General of Treasury Herry Purnomo told a news conference at the Office of the Ministry of Finance, Jalan Dr Wahidin, Jakarta, Monday (21/06/2010).
Compared with last year’s budget expenditure in percentage peemrintah indeed smaller. However, in nominal terms is far greater because pagunya even greater.
In the same period in 2009, state revenues from domestic revenue and grants amounted to Rp330, 8 trillion, or 38 percent of which comes from tax revenue amounting to Rp266, 8 trillion, or 40.9 percent, Rp259 domestic taxes, a trillion or 41 percent .
Meanwhile, in last year’s state expenditure until the same period was recorded Rp319 1 trillion or 31.9 percent of the Central Government spending amounted to 200 7 trillion or 29 percent, personnel expenditure Rp52 2 trillion, or 42.8 percent, and purchases goods Rp20, 6 trillion, or 24.2 per cent and capital expenditure of Rp16, 6 trillion, or 22.6 percent, and transfer areas Rp118, 3 trillion, or 38.3 percent.
“Even now the percentage is smaller but larger than nominal,” he said
Business Proposal inalum Not Done
Company Info June 25th, 2010
The Indonesian government will form a negotiating team of PT Indonesia Asahan Aluminium (inalum) after the assessment is completed a business proposal. In fact, the proposal deadlines October 31, 2010.
Minister for State Owned Enterprises (SOEs) Mustafa Abubakar said it was completing a business proposal from Indonesia, which will decide what kind of a continuation of the cooperation contract that has been 30 years running and will end in 2013.
“It’s still in the stage of completion proposals. So we Completes proposals from each side and the Indonesian government must state on going a while, but I have not been able to determine when, will be coordinated with the Coordinating Minister for the Economy, “Mustafa said in Jakarta on Monday (6/21/2010).
Having completed a business proposal, he added, will form a new government negotiating team. “But clearly it will be finished before the deadline. Later when it’s finished, perhaps the Coordinating Minister of Economy will form negotiating teams, it’s only the technical team, “he explained.
Negotiating team later on, he said, would consist of cross-ministry. “Any of the Coordinating Minister for Economic Affairs, Minister of Industry, Minister of State,” he said.
Minister of Industry (Industry Minister) MS Hidayat had previously said it suggested there was the appointment of an independent consultant to make the assessment in terms of socio-political, technical, and financial.
“From the study it, then we will go forward to the talks, after the team decided perundingnya officially through the Presidential or Presidential Directive,” said Hidayat.
Hidayat explained, such as the composition of shareholders for any inalum management management, he said, must remain professional. “Everything can be discussed after the formal decision of the President,” he said.
In addition, proposals for cooperation from the Japanese extension must also be handled professionally. “If you want to negotiate, Japan provides a business proposal, later Indonesia, which counters the call,” he said.
Hidayat explained, if Indonesia chooses to take over inalum, then management must be able to make a good program to promote the company. Thus, he said, not to Indonesia did not prepare thoroughly planning. “If I can this year, October has been no concrete results,” he said.
Hidayat expressed, it is important to create and grow the industry and downstream processing of bauxite. “Because we’re increasing aluminum production for domestic needs. If so, then we export,” he said.
Similar disclosed by chairman of the Indonesian Employers Association (Apindo) Sofjan Wanandi. “We must not continue to export bauxite,” said Sofyan.
Sofjan said Indonesia should be able to take over and control a larger share of the Japanese inalum. “Indonesia should be able to take a majority position,” said Sofyan.
Sofjan added that the technology is not a major problem that must be feared. “We can buy technology and then pay the expert. Can not,” he said.
As is known, is a joint venture inalum shaped foreign investment (FDI) among the Japanese as a majority shareholder and the Indonesian government.
Currently, inalum produce 250,000 tons of aluminum ingots per year, from an installed capacity of 225 thousand tons. Production beyond the installed capacity is thanks to technological improvements made in 2008. As many as 40 percent of aluminum production is for domestic inalum, then the rest is exported to Japan.
Indonesia to import 150 thousand-200 thousand tons of aluminum per year, among which are from India, China, Japan, and Australia.
Inalum mentioned in the Master Agreement, shavings II Hydroelectric automatically become the property of Indonesia on November 1, 2013, by paying compensation at book value. Inalum has proposed the extension of cooperation. The proposal is still under review by the technical team of Ministry of Industry (Kemenperin)
Economy Reaches Quarter II estimated 5.9%
Finance June 25th, 2010
JAKARTA – The government is projecting economic growth in the second quarter 2010 will reach 5.9 percent. It was driven by investment and exports.
Actual first quarter and then reached 5.7 percent, while for the economic growth target based on the national budget in 2010 amounted to P 5.8 per cent.
“For the second-quarter 2010 projected at 5.9 percent a dididorong by investment and exports,” said Vice Minister of Finance Anny Ratnawati during a press conference at the Ministry of Finance, Jakarta, Monday (06/21/2010).
Until April 2010 recorded exports amounted to USD12 billion, up 42.6 percent compared to the same realization in the 2009 period.
Earlier, former Minister of Finance (Finance Minister) Sri Mulyani expressed optimism that economic growth in the second quarter-2010 will reach 6.0 percent.
This is caused by factors that are still quite strong, both in terms of government spending, consumption, and exports. According to Sri, investment and exports will begin to increase, thus contributing to the economic growth rate is higher in the second quarter-2010. Including for imports of raw materials and capital goods could be an indicator.
Bank lending in Japan fell 1.2%
Credit and Loan June 16th, 2010
Distribution of bank credit in Japan fell for the first time in 4 years in December after the company cut spending or issuing bonds.
Bank of Japan reported credit, not including joint credit, down 1.2% last month from a year earlier, after the November rose 0.1%. 10 credits from Japan called city banks, including Mitsubishi UFJ Financial Group Inc., fell 3.1% 1.3% continuing decline in the previous month.
Shiseido Co., Orix Corp., and Mitsubishi Heavy Industries Ltd including financial institutions that issue bonds in December. Meanwhile, the reluctance of small businesses to apply for credit to banks threaten efforts AM Yukio Hatoyama to boost growth.
“If you look at the size of the company, demand for loan funds are also weak. That’s what the banks. Financing of the larger banks, which clients can issue credit, the fall until the market returned to normal,” said Yoshihiro Komaki, director Financial Systems and Bank Examination Department, Bank of Japan, today.
Loan growth last year slowed every month until November after a greatest jump in 16 years by 4.1% in December 2008. Monthly decline in loan disbursement first time since December 2005.
Mitsubishi UFJ, Japan’s largest bank by market value, fell 0.2% to 477 yen at 10:41 am in Tokyo. Sumitomo Mitsui Financial Group Inc., ranked 2, down 1.3% and Mizuho Financial Group Inc. slipped 2.8%. Today, the Topix Banks Index dropped third largest in the stock market.
“The decline of credit was part of the credit market conditions are more normal. Globally, small firms worst affected due to the drying up of liquidity during the crisis,” said David Cohen, director of Action Economics in Singapore responded to the statement of the Bank of Japan.
Data showing the issuance of bonds in Japan rose 30% to 11.4 trillion yen (U.S. $ 123 billion) in 2009, from 8.8 trillion yen the previous year.
Cabinet Office in December reported Japan’s economic expansion to reach 1.3% annually during the third quarter.
Robert Feldman, head of economic research at Morgan Stanley Tokyo, said the GDP predicted to experience a moderate expansion during 2010 driven by foreign demand.
