2008-2009 DATA CONSULT. All rights reserved.
ANCORA  PLANS TO ACQUISITION IN ENERGY SECTOR. Ancora Capital Management (Asia) Ltd    has set aside US$300 million to finance acquisition of coal mining  and  oil and gas companies this year. The  fund management company also plans to expand business to toll road infrastructure, Gita Wirjawan, its co-chairman  said.   Funds will be available  in two to three months  especially from Middle-east, Brunei and Malaysian financers, Gita  was quoted as saying. The prospects are still goods for business in the mining and energy sectors , therefore, the company chose to strengthen investment in the two sectors, he said.  Meanwhile business opportunity is open in the infrastructure sector  in the country  especially in toll road, he said. Earlier PT Ancora Indonesia  Resources, which is controlled by Ancora Capital , was reported  planning to acquire PT Bromindo Nusantara ,an oil and gas drilling company. The US$110 acquisition plan is expected to be concluded this year, he said. 

RIO TINTO  TO GO AHEAD WITH NICKEL VENTURE . PT Rio Tinto Indonesia  said it is set to continue plan to invest in nickel mining project in Lasamhala in the border area of Central  and Southeast Sulawesi provinces .   Rio Tinto  was denying a report that it was considering to quit the US$2 billion project  on some clauses in the new mineral and coal law not acceptable to the Australian company.   Earlier company source  was quoted as saying  it  could not accept a ruling in  the law requiring contractors  to hand over 10% of operating profit to the government. Rio Tinto has never criticized the new law, company spokesman Budi Iranto said, adding the company is still studying the new law. The commitment of the company is reflected in its offering US$700,000 scholarships to the local administrations in Central Sulawesi and Southeast Sulawesi, Budi said.

ANTAM  SETS ASIDE US$35 MLN TO START WORK IN  CIBALIUNG  GOLD MINE.  PT Aneka Tambang has set aside US$35 million to continue  development of the Cibaliung gold mine in Pandeglang,  Banten. The state mining company  has signed  an agreement  to  acquire  a 95% stake of Australia's  gold mining company Arc Exploration  in PT Cibaliung Sumber Daya (CSD).  The agreement  will  give Antam    full control of  CSD in which it already has a 5% stake. Bimo Budi Satriyo, the corporate secretary of Antam, said  the process of acquisition to cost around US$8 million,  is expected to be completed in 4-6 months.  CSD has been facing financial difficulties  to continue operation  and Antam seeing the potential  of the company, decided the take over, Budi said.   Antam hopes to start producing gold  from Cibaliung, which  has a reserve estimated at  12.8 tons   in the second half of 2010, he  was quoted as saying. With production averaging 220,000 tons annually , the mine will last for 6 years.

PERUM PEGADAIAN TO ISSUE BOND. State company Perum Pegadaian that runs pawnshop chains in the country  plans to issue bonds valued at Rp1.5 trillion (US$136 million) this year to strengthen its working capital. The  plan to issue the bond in June  has been sanctioned by the office of the state minister for state enterprises, a company director Wasis Djuhar said.  Djuhar, who gave no further  details about the bond,  said the company  had shown a strong growth  in turnover  in the first month  of this year compared  with last year.  Last year the company recorded  a turnover of Rp33.5 trillion, up from Rp21 trillion in the previous year , the newspaper Investor Daily said.  Unlike most other businesses , the present crisis  has brought on stronger growth in  pawning  business, Djuhar said. The company , which plans to increase  the number of its conventional outlets from 1740 units to 2,740 units  and sharia outlets from  160 units to 300 units ,  is set to post Rp1.2 trillion in gross profit this year  up from Rp940 billion last year.

HUMPUSS  SETS ASIDE  US$150 MILLION FOR CAPITAL EXPENDITURES. PT Humpuss Intermoda Transportasi will  spend  up to US$150 million this year  to buy new ships  and for business expansion. For that purpose,  Humpuss hopes to raise fund through rights issue,  bond  sales and private placement  and other financing schemes,  a company director Permadi Soekasah said.  Permadi said  the company, which is controlled by Tommy Suharto, the youngest son of former President  Suharto,  plans to buy three barges  this year.  The company also plans to acquire 98% of Humpuss Trading from Humpuss Patra Gas, which are both its affiliates. Humpus Intermoda will expand business from sea transport  to high speed diesel, coal  and power generating sectors. Based on its financial report, Humpuss Intermoda posted Rp698 billion in income in the first nine months of 2008 with  equity at Rp1.47 trillion.

February 2009
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