=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...

Moving Free, 'Yuan currency' Start Slowly Rising.

Reporting BEIJING - The yuan exchange rate strengthened on Tuesday morning trading, after the Central Bank of China promised to let the currency trade more freely against dollar.

People's Bank of China set a level of parity as the central point of the official trading currency is moving at 6.7980 against the dollar, or 0.43 percent higher than 6.8275 in trading Monday before yesterday.

Quoted from the AFP, Tuesday, (22 June 2010), the Central Bank had pledged this weekend to make yuan more flexible, without prejudice to the sharp fluctuations of the currency or one-time adjustments.

The move was widely performed as a bid in spite of facing the Group of 20 summit which will take place in Canada this weekend. Where central China are accused of mounting overseas who control China's forex and give exporters a competitive advantage and create unfair.

In trading in China on Monday, penetrating 6.8 yuan or precisely where 6.7969 against the dollar rose 0.40 percent before the close of trading. This figure is the strongest since unpegged yuan policy makers of the dollar in mid-2005 move.

However, the level of trading on Monday yesterday still in a tight trading range in Beijing where the analysts said, when China promised this is not a sign of a big revaluation. Thank you for visiting (otofinanceinfo)

Read more...

Banking Spanish-Need 30 Billion Euros

MADRID Report - latest news about the economy, the Spanish bank restructuring is predicted to require funds amounting to 30 billion euros. Spanish Government will finance the plan with the Fund for the Restructuring of the Bank (FROB).

"It (the fund 30 billion euros) more than enough to meet the needs of all banks," said Spanish Economy Minister Elena Salgado as quoted from Reuters.

Elena explains, FROB can raise funds up to 99 billion euro.Dana was formed with the purpose of acting as standby fund to help institutional lenders.

"Based on data from Central Bank of Spain (BOS) funding requirements less than 90 billion restructuring euro.Tapi, I estimate the total requirement is less than a third (30 billion euros)," he said.

This week the world's stock price, exchange rate of euro against U.S. dollar (U.S.), and oil fell as investors worried over the public financing Spanyol.Investor-yack off assets that have a high risk.

MSCI world stock index yesterday fell 0.3 percent after rising to the highest position in sebulan.Indeks FTSEurofirst 300 fell 0.25 percent. While the exchange rate of euro against the U.S. dollar fell 0.4 percent to USD1, in 2245 and against the yen weakened 2 / 3 percent to 111.71 yen. Value of U.S. dollar against major world currencies rose 0.5 percent.

Read more...

England Crop Growth Target to 2.6%.

Reporting LONDON - The latest news about the economy. England in 2011 cut its economic growth target to 2.6%, and cut the estimated annual lending to the public to be 155 billion pounds.

Quoted from 'AFP', Monday, 14 June 2010, these growth figures published by the independent fiscal watchdog, the coalition government formed by Prime Minister of England. is David Cameron.

The previous government estimate of economic growth target could be expanded by 3.25%.

Meanwhile, 'The Office for Budget Responsibillity', in a statement when the borrowing country reveals the UK, when compared with the previous estimate of 163 billion recorded at pound.Terimakasih already visited (otofinanceinfo)

Read more...

European crisis, Asian Stock Down.

Reporting TOKYO - I want to convey the latest news about the economy, most Asian stock markets declined on Wednesday to record this. overnight gains as investors took off in the 'Wall Street', amid concerns about the debt crisis of Europe.

Average Japan's Nikkei 225 index 93.79 points, or equivalent vanish one percent to 9444.15 in the morning session. South Korea's Kospi index fell 0.2 percent to 1647.55, as well as the Australian index and S & P / ASX 200 slipped 0.1 percent to 4397.60.

Quoted from 'Associated Press', Wednesday, 9 June 2010, the Hang Seng index also fell 0.4 percent to 19404.94. The benchmarks are achieved in Malaysia and New Zealand only increased slightly, while Singapore, Taiwan, and China fell.

In Asia, investors in stocks trading off gains in the United States (U.S.) local time on Tuesday amid fears that the ongoing fiscal crisis could lead to Europe having a global economic slowdown.

It is known, 'Dow Jones', carrying up 123.49 points, or 1.3 percent to 9939.98 as investors return is not uneasy to market a result of the comment 'Chairman of the Federal Reserve (Fed)', is 'Ben Bernanke' about the U.S. economic recovery.

While for the currency, the dollar fell to 91.37 per yen in Tokyo trading from 91.53 per yen in New York on Tuesday evening local time. Euro drops to USD 1, 1951 from USD1, 1971.

Euro had touched the lowest figure for four years and the last few days due to concerns about weaker economic growth prospects in Europe and the economic impact of public spending cuts announced by European countries, including Germany and the UK.

While for the benchmark crude oil for delivery in July rose 53 cents to USD72, 52 per barrel in electronic trading on the New York Mercantile Exchange. Thank you for visiting, I hope this information is useful. (Otofinanceinfo)

Read more...

European Banking Losses, Could Reach 195 Billion Euros

Frankfurt Report - 'The European Central Bank / ECB' yesterday warned that potential losses on banks in the euro zone could reach 195 billion euros in the next 18 months, when entering a second wave of crisis.

Losses were estimated to have occurred if the banks increase the share of purchases of government bonds in the euro zone is still considered risky due to high budget deficits.

ECB says euro zone banking sector needs to increase fees for mengkover losses this year are estimated at 90 billion euros and 105 billion euros in the next year. The loss is due to the write off bad loans in 2009 amounted to 238 billion euros.

"This projection was first issued by the ECB for next year despite the decline in total assets at the end of 2010 tended to be lower than previously estimated," the ECB said in a recent Financial Stability Report, released yesterday, as reported by the 'Reuters', Tuesday 1 June 2010.

However, the decline in government assets in the euro zone over the next two years, is estimated to be greater if debt ratio is still high despite the government made various efforts thrift.

'ECB' began buying most of the debt of Greece, Portugal, and Spain as a form of support for economic stabilization pascakucuran bailout package worth almost $ 1 trillion early last month. Thank you for visiting (otofinanceinfo)

Read more...

Spanish Ratings Down, For Potential Poverty.

MADRID Reporting - 'rating agency Fitch Ratings', cut 'credit rating of Spain', due to higher growth prospects of poverty, ie, only one day after the government will make budget reductions to address fears of economic recession.

As a result, the stock market in the U.S. markets slid sharply when the news came last Friday, and the euro weakened against the dollar.

'Fitch' lowered ratings Spain maximum level one level of AAA, AA + to the position. The reason, the Spanish government seems to be focusing on economic recovery.

"The process of economic adjustment will be more difficult, and will last longer than other economy with 'ratings AAA' that carried the Spanish government, that's why the rating of Spain lowered to AA +," said 'Fitch' as quoted from the AFP, Sunday, 30 May 2010.

'Fitch' also warned that the rigidity of labor markets and restructuring of local and regional savings banks will be obstacles hamper the speed of economic recovery, particularly after the bursting of real estate products.

"The private sector external debt, and materials will also slow down economic growth Spain during the medium term," said 'Fitch'. Thank you for visiting (otofinanceinfo)

Read more...

German state bank, Receiving USD12 Billion

Reporting Frankfurt - A German state bank, 'Hypo Real Estate' has received funding amounting to 10 billion euros (USD12 billion). as a general credit guarantees because of the tensions in financial markets.

"This decision was made to suppress the existence of additional collateral provided by the German financial market stabilization fund, SoFFin, which was taken because the current situation in financial markets," the statement SoFFin, as reported by the AFP on Saturday 29 May 2010.

The parties 'Hypo RE' can now attract a total budget amounting to 103.5 billion euros in state guarantees inter-bank market to obtain financing at reasonable rates.

SoFFin, is a specialist property financing credit channel, and provides a complex restructuring program is a failure and will have major consequences for the German economy, "said President SoFFin Hannes Rehm.
'Hypo RE' hit by losses on the purchase of bonds issued by countries 'eurozone' problems such as Greece, Ireland, Italy, Portugal, and Spain. In late March, the bank has around 39 billion euros in debt exposure.
In addition, 'Hypo RE' has also received a capital injection amounting to 7.85 billion euros from SoFFin. In the past year, the bank paid the amount of seven billion euros of approximately 50 billion euros from private bank loans. (Otofinanceinfo)

Read more...

Prevent Crisis Spreads Greece, the EU Prepare Dana M. USD670.

Monday, May 10, 2010 - 9:02 pm

Reporting BRUSSELS - The European Union finally agreed on an emergency fund amounting to 500 billion euros or equivalent USD670 billion to protect the euro zone countries from the financial market wolfpack.

As quoted from the 'Reuters', on Monday, December 10 mei 2010. decision deals a substantial emergency fund can be taken in order to prevent the spread of the debt crisis go on and Greece.

As is known, that the euro currency last week plummeted to its lowest point during the last 14 months against the dollar. But now, the euro climbed almost two percent in early trading in Asia, and on trade in the U.S. rose by two percent.

While the price of gold, regarded as a safe haven investment, fell by 1.5 percent after touching a record high last week.

Where the European Union plans to take out a loan in the form of loan and loan guarantee fix the value of 600 billion euros, or USD805 billion. Where is the loan guarantee for a loan of euro zone countries worth 440 billion euros, which amounted to 60 billion euros from the stabilization fund and an additional 100 billion euros of funds from the International Monetary Fund loans (International Monetary Fund / IMF).

Market mechanism seems to threaten members of the eurozone countries that have debt will suffer the same fate as Greece. Safety net intended to protect other countries that have swollen budget including Portugal, Spain and Ireland.

Greek and addressing the crisis, the IMF has approved meminjaman 30 billion euros, bringing the total funds collected for the bailout Greece mencapaui 110 billion euros. Where for 5.5 billion euros will be disbursed immediately. I hope this information is useful to you. (otofinanceinfo)

Read more...

Fatal error, from the 'Wall Street'

Friday, May 7, 2010 - 12:0 PM

Reporting NEW YORK - I will convey the global economic news. A fatal error occurred, the computerized system that made possible the cause of a simple typing error. It is called trigger one of the most turbulent days in the history of 'Wall Street', on the trade Thursday, May 6 local time.
Unmitigated, the index of 'Dow Jones industrials' nearly 1,000 points, nearly a tenth of the value of existing trade in less than half an hour. This is the biggest ever decline in the period last year during the trade.

As quoted from the 'Associated Press', on Friday, December 7 May 2010, the index of 'Dow Jones' successfully recovered approximately two-thirds of the reduction of almost 1000 points, before the close of trading.

"Today, it makes me shocked and did not move from my chair. It feels like we are losing control," said chief investment officer at Harris Private Bank, Jack Ablin, in Chicago.

The statement was reinforced by a spokesman for the New York Stock Exchange 'Rich Adamonis who said, "There are a number of erroneous trades during the decline." NYSE told CNBC that there is no system errors due to speculation over a bad trade.

Meanwhile, 'Citigroup Inc.' states, did not find evidence against the trade, after CNBC said it triggered a bad deal with a potentially negative in the middle of the Dow falling 9.2%, which is the biggest decline since December 19, the month of October 1987.
'Nasdaq' to say, after the market close, it would suspend all trade stocks that move more than 60% of their price, or shortly before 2:40 o'clock pm, when the downturn began.

Delays are applied to the trade conducted between the hours of 2:40 PM and 3:00 PM local time. Meanwhile, Procter & Gamble Co. said it was monitoring trading on the stock to decide whether an error occurred in the trading of these shares. how do you think? (Otofinance)

Read more...

'Gajah tunggal', drill up to 25% sales rise

'PT Gajah Tunggal Tbk' drill sales growth of 15% to 25% in the first quarter of this year, compared with the same period last year amounting to Rp1, 74 trillion. Director 'ales' ie 'Catharina Widjaja' revealed this year the company will realize additional procurement contracts tires (offtake agreement) from the 'Michelin' in this year to three million tires from the original 2 million tires. (Otofinance).

Read more...

Directorate General of Taxes Not Have Tools to Calculate Tax Leakage

Tuesday, April 20, 2010 - 17:55 PM

JAKARTA Reporting - DGT "F Tjiptardjo" admitted to not having a system that measures the amount of tax leakage that occurred in instansinya.
Thus, he can not confirm the amount of leakage can ensure that occur every year due to a mischievous act of his subordinates.

"I do not know where his ngitung leak, hard ngitung leakage. Yes we ngitung her just how much goals which must be secured. Enggak the leaks are tools for measurement his breast. We were focused on how to secure acceptance," he said after meeting Listen Comments by Commission XI DPR RI, in Commission XI DPR, Senayan, Jakarta, Tuesday 20 april 2010.
Meanwhile, the findings related to the CPC which states the existence of tax leakage of up to Rp96 trillion, he admitted could not follow up on these findings today.

According to him, the government has a right of reply 60 days from the findings. But she admitted to have just received the report at the end of March and so is currently in the process of clarification.

"I frankly have just received, the office had just received approximately March last and the government still have 60 days to answer," he said. (Otofinance)

Read more...