PRESS DIGEST-Indonesian Business News - July 20
Source: Reuters
Following are the leading business stories in the main Indonesian newspapers on July 20. Reuters has not verified these stories and does not vouch for their accuracy. Telephone: Editorial: +62-21-384-6364. Fax: +62-21-344-8404 or Help Desk: +803-061-2124 (toll free). - - - - KOMPAS - PERTAMINA, E1 CORP TO BUILD NATURAL GAS REFINERY State oil firm, Pertamina, and E1 Corp <017940.KS>, a subsidiary of South Korea's LG, have agreed to build a $150 million natural gas refinery plant in Plaju, South Sumatra. The plant will supply Liquified Petroleum Gas (LPG) for domestic consumption. - PRESIDENT URGES CAR INDUSTRY TO REDUCE NEGATIVE IMPACT Indonesian President Susilo Bambang Yudhoyono has urged the nation's car industry to counter negative spin offs, such as the increasing environmental impact and heavy traffic. - - - THE JAKARTA POST - CHINA'S FOTON MAKES DEBUT IN INDONESIAN LIGHT TRUCK MARKET China's Beiqi Foton Motor Co. <600166.SS> made its local debut at the Indonesian International Motor Show with the launch of the Foton light truck. - BAKRIE TELECOM REVENUE UP IN FIRST HALF 2007 Bakrie Telecom <BTEL.JK>, a subsidiary of Bakrie and Brothers <BNBR.JK>, reported a 63 percent increase in gross revenue to 580 billion rupiah ($63.84 million) in the first half, up from 355 billion in the same period of 2006. - - - - BISNIS INDONESIA - MOBILE-8 TO ISSUE $150 MILLION BOND Mobile-8 <FREN.JK>, through its subsidiary Mobile-8 Telecom Finance Company, will issue a $150 million bond. Mobile-8 said that the bond would be used to refinance the company debt of $70 million to Lehman Brothers. - MANDIRI READY TO FINANCE 70 PERCENT OF AIRPORT RAILWAYS Bank Mandiri <BMRI.JK> said it is ready to finance 70 percent of the total financing needed to build railway tracks and stations to connect Jakarta's main airport to downtown in the capital. - MANDIRI PREPARES TO LOAN SEMEN GRESIK OF UP TO 2 TRLN RPH Bank Mandiri said that it is ready to arrange finance of between 1.5-2.0 trillion rupiah to Semen Gresik <SMGR.JK>, although it has yet to receive any proposal. Semen Gresik had said it is seeking loans of $926.1 million, or 70 percent of the capital needed to build two new plants and other expenditure. - INCO OPTIMISTIC ON FINANCIAL PERFORMANCE International Nickel Indonesia <INCO.JK> (INCO) is upbeat on its financial performance, due to be relased on Aug. 1. The firm is also confident it will reach its 2007 production target of 160-165 million pounds of nickel, with first quarter production of 39.6 million pounds of nickel. - - - - ($1=9,095 rupiah)
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