=Children Adaro Business Loans USD400 Million Awarded>>

JAKARTA Otofinanceinfo- PT Adaro Energy Tbk (ADRO), through its subsidiary PT Saptaindra Sejati (SIS) received a loan of USD400 million from 10 banks.

"On February 18, 2011, SIS, a company that is 100 percent owned by Adaro has signed a USD400 million facilities agreement," said Secretary of the Company Devindra Ratzarwin in the disclosure of information on the Indonesia Stock Exchange (IDX), Jakarta, Tuesday (02/22/2011) .

Ten banks are PT Bank Mandiri Tbk, Singapore Branch, HSBC Ltd., Oversea Chinese Banking Corporation Ltd, PT Bank UOB Buana, DBS Bank Ltd, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ Ltd. Jakarta branch, ANZ Panin Bank, Credit Agrecole Corporate and Investment Bank, Standard Chartered Bank.

Lead arrangers of this loan is Chinatrust Commercial Bank Co. Lrd Singapore branch, and Sociate Generale Singapore Branch. The facility agent is HSBC Ltd, DBS Bank Indonesia security agent. These loans use the bank account Oversea Chinese Banking Corporation Ltd and OCBC Bank NISP.

The purpose of this loan is to pay the loan membiaai SIS and capital expenditure (capital expediture / capex). Guarantor of this transaction is ADRO own.

Loan maturity is seven years after the date of the facility agreement with interest at LIBOR plus a margin applicabe. (financeinfo)

Read more...

Pertamax Down 100, Pertamina Want to Give Incentives

JAKARTA - There is good news for you users of fuel oil (BBM) Non-Subsidy Pertamax cs from Pertamina. To UPMS III (Greater Jakarta) Pertamina lowered the price of Rp100 per liter Pertamax in Jakarta from previously Rp8.050 per liter to Rp7.950 per liter from 3 February.

This price reduction is surprising because just two days from the announcement of the increase Pertamax cs Pertamina official who submitted February 1 last. Usually Pertamina announced the non-subsidized fuel prices twice a month, that is every 1st and 15.

"We really just want to give more incentives to the public by consolidating the price, so the new price could be adjusted. It's quite a good response from the community so that incentives can be immediately accepted and increase existing coverage," said VP of Corporate Communications Pertamina M Aaron while talking with Legal, in Jakarta on Friday (02/04/2011).

Aaron also argue that the decline in prices that just two days of official announcement is a reaction from competitors set prices that are cheaper than the price of Pertamina early February. "I do (to follow). They (competitors) are used to follow us," he explained.

Compared with last year, Pertamax consumption this year is somewhat improved a lot compared to last year. Last year pertamax daily volume of only 1300 kl (kl) per day, and this year approximately 2500 kl per day. So, although prices continued to rise but Pertamax jutru volume increases.

Read more...

All Vehicles Prohibited Personal Use of Subsidized Fuel

JAKARTA Report - Of the two options limiting consumption of fuel oil (BBM) subsidy that will be proposed by the government, Minister of Energy and Mineral Resources of "Darwin Z Saleh" confirms that the prohibition of the consumption of subsidized fuel option for all private vehicles (black plate) is more easily implemented in the field and can save a larger budget.

"Options that banned all black plate car buying fuel subsidies, of greater savings and implementation are more likely to (easily)," he said as quoted by the official website of the Directorate General of Oil and Gas in Jakarta, Wednesday (24/11/2010).

As is known, the Coordinating Minister Hatta Rajasa has said that the government set up two subsidized fuel savings options that requires consideration of the House, first, all black plate cars are prohibited from using the fuel subsidy. Second, all black plate car with the year of manufacture in 2005 to above are prohibited from using fuel subsidies.

Meanwhile, related to timing of the plan will be conducted from January 1, 2011, according to Darwin, the government is eager to do this but it certainly should be discussed with the House first.

Himself argued that the policy of subsidized fuel savings should be done to save money and sharpen the target country that is only the parties are entitled to enjoy the subsidized fuel.

"Remember you know, we must dare to go, start walking. Will it be perfect? Not necessarily. But we (should) begin to move. If not, it would be too much of an impact of subsidized fuel (to finance the state) if (volume) increases. If increased 10 percent, it was Rp10 trillion. That's equivalent to what school? "He explained.

Evita Legowo added that based on the calculation when all the black plate cars are prohibited from buying subsidized fuel, it can save fuel by 11 million kl (kl). Meanwhile, if the option is only cars with year of manufacture 2005 to the above is prohibited, then the savings could reach eight million kl.

For the initial stage, subsidized fuel savings will be carried out in the big city. But which city is chosen, Evita refused to explain. Because the island of Java and Bali is the most widely used subsidized fuel is approximately 60 percent of the total quota.

"We still have not decided which one (area), but the possibility of a big city. We must know, the Java-Bali uses 60 percent gasoline, "said Evita.

For the year 2010, has set a quota of subsidized fuel at 36.5 million kl but will be missed until the end of the year and add more volume of subsidized fuel approximately 1.8 million kl. Article by okezone.com. Thanks to visit.

Read more...