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Balongan Refinery Expansion Project
Pertamina and Kuwait Petroleum International (KPI), a subsidiary of Kuwait Petroleum Corporation, have finally signed a memorandum of understanding to launch a feasibility study to expand Pertamina's Balongan refinery with investment of up to US$9 billion on Thursday, August 19. Outlook? Who will be benefited? ,Last Updated ( Fri, 20 Aug 2010)
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| H1 Results: Cement Producers
Three cement giants (Semen Gresik, Indocement, and Holcim Indonesia) have released their first half financial results. They posted a combined net profit of Rp3.65 trillion, surged 23.2% from the same period last year even though their combined sales growth is only 4.7%. Semen Gresik generated the weakest results. (Mon, 02 Aug 2010)
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| Papua Pulp & Paper
In early 2008, then director for intelligence and investigation at directorate general for tax, M. Tjiptardjo, threatened tycoon Sukanto Tanoto to name him a fugitive if failed to show up in the examination of tax evasion allegation on Asian Agri. It's not clear what happened that time. One thing is clear, Bisnis Indonesia published a picture of Sukanto, standing besides of industry minister MS Hidayat, during a ceremony in Riau province. (Sat, 24 Jul 2010)
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| • Explosives: Business & Politics | Chemical | The growing mining and construction business has exploded demand for explosives in Indonesia. Explosives business has been reserved for "certain group with military's blessing". Even ammonium nitrate, raw material for explosives, needs "recommendation" from military commander. Who's lucky enough to get the business? | |
| • Pharmaceuticals Healthier, People? | Chemical | CEO and owner of a giant pharmaceutical company has just been appointed as deputy treasurer of President SBY's Demokrat Party. Talking about pharmaceutical, this industry is getting healthier and stronger. Some said because more people are health-conscious. But way too many people down there complaining about costly medical bills. | |
| • Polyprima & PTA Market | Chemical | The price of purified therephthalic acid (PTA), key raw material in polyester production, declined US$5 to US$835 per ton (CFR China) and US$830 (CFR South East Asia) last Friday. But as crude oil price hovers around US$77 per barrel, margin for PTA producers would be squeezed substantially. | |
| • Cheetam & The Salt Industry | Chemical | Cheetam Salt ltd, Australia's largest salt producer, plans to expands in Indonesia with US$15 million to US$20 million investment in Nagekeo, East Nusa Tenggara province. The new plant would boost national output substantially, but won't be enough to reduce the country's huge dependency on import. | |
| • Tayan CGA, finally? | Chemical | Aluminium prices have collapsed again in the past few weeks after substantial recovery on expectations of improvements in the world economy. So, it's a bit surprise when PT ICA, a consortium of Aneka Tambang, Showa Denko, and Marubeni, finally appointed EPC contractor for the Tayan chemical grade alumina (CGA) project in West Kalimantan this week. | |
| • Barito Pacific Q1: Stability? | Chemical | PT Barito Pacific (BRPT) Tbk posted net profit of Rp117 billion in the first quarter of 2010 against net loss of Rp87.66 billion in the same period last year. Impressive? May be. But the stock only gained 0.8% today, and is traded 267% below its peak last August. Why? | |
| • Honggo & Tuban Petrochemical | Chemical | We have read countless of media reports in the past few years about the plan from Honggo Wendratno to regain majority control in PT Tuban Petro, parent company of refinery-aromatic center in Tuban, polypropylene plant in Balongan, and oxo-alcohol plant in Tuban. Will this time become a reality? | |
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