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KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing

06

Dec

KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing

The signing was conducted between Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi and President Director of [...]

KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing. The signing was conducted between Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi and President Director  of PT. KPBN Iriana Ekasari in Jakarta.
The cooperation in the field of use and utilization of Bank Woori Saudara's products by purchasers at PT. KPBN both for cash financing products and non-cash facility as well as funding, especially for Tea commodity purchasers. PT. KPBN's position which has long been known as a world-class plantation commodity sales center has become an attraction for banks to establish cooperation. The transaction value that occurs at PT. KPBN which reaches Rp30 Trillion annually is a delicious cake itself.
`We see that commodity is a very large market. Incidentally, our focus is on SMEs,` said Head of SME & Commercial Division Bank Woori Saudara Dendy Priyanto.
Dendy added, BWS's choice to cooperate with PT. KPBN in this cooperation was because PT. KPBN has good experience and infrastructure in this industry.
Meanwhile, in his speech, Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi said, `with the support of BWS's parent company, Woori Bank Korea which is the second largest bank in South Korea, and the insurance guarantor company, we are ready to support this cooperation.
PT. KPBN is confident that this cooperation will develop positively because PT. KPBN has experience, network, infrastructure, and  strong reputation in the commodity sales industry, especially tea.
`PT.KPBN's basic service is as an agent to sell 7 main state plantation commodities, namely Palm Oil, Rubber, Tea, Coffee, Cocoa, Sugar, and Molasses. The sales value of tea commodities reaches hundreds of billions per year, it is the third largest commodity after CPO and rubber commodities”.
In the future, Iriana sees that the revitalization steps of the tea industry both upstream (bulk) and downstream will run well with support from supply chain financing (SCF).
Iriana emphasized, this financing cooperation is important to accelerate the revitalization and growth of the tea industry and outside PTPN, PT.KPBN has also scheduled cooperation with private plantation farmers  and large private companies, realizing the role  of BUMN as a development agent. `Let us work together to revitalize this industry for the welfare of this nation together,` Iriana concluded. [AF]

Dec. 6 CPO Prices: Malaysia Inventory to Rise to Record, Palm Oil Declines

06

Dec

Dec. 6 CPO Prices: Malaysia Inventory to Rise to Record, Palm Oil Declines

Crude palm oil (CPO) futures for February 2017, the most active contract on Bursa Malaysia, opened 0.54% or 17 points lower at RM3,118 a tonne [...]

Dec. 6 CPO Prices: Malaysia Inventory to Rise to Record, Palm Oil Declines. Crude palm oil (CPO) futures for February 2017, the most active contract on Bursa Malaysia, opened 0.54% or 17 points lower at RM3,118 a tonne today.
It further eased 0.67% or 21 points to RM3,114 a tonne at 10.11am.
Traders and analysts polled by Bloomberg project Malaysia’s palm oil inventories rose 8.3% to 1.7 million metric tonnes in November from a month earlier.
Malaysia’s palm oil stockpiles are set to expand to a four-month high as a slump in exports outweighed the effect of smaller output in the world’s second-largest producer.
Production of crude palm oil fell 3% to 1.63 million tonnes, while exports dropped 10% to 1.28 million tonnes, the weakest since June. Official Malaysian palm oil data is due to be released on Dec 14.
Yesterday (Dec 5, 2016), the CPO price closed up 1.92% or 59 points to RM3,135 per tonne on Bursa Malaysia despite the stronger ringgit against the US dollar.
The ringgit was quoted 0.10% higher at 4.4440 to the US dollar at 9.59am today.
CPO Futures Contract for February 2017

Date

Level

Change

Dec 6, 2016(10.11am)
3,114
-0.67%

Dec 5, 2016

3,135

+1.92%

Dec 2, 2016

3,076

-0.10%

Dec 1, 2016

3,079

+0.20%

Nov 30, 2016

3,073

+0.75%

Source: Bloomberg

Industry Ministry proposes Berau as palm oil development area

05

Dec

Industry Ministry proposes Berau as palm oil development area

Thus conveyed by the Director General of Agro Industry of Ministry of Industry Panggah Susanto after accompanying Minister of Industry Airlangga [...]

Industry Ministry proposes Berau as palm oil development area. Thus conveyed by the Director General of Agro Industry of Ministry of Industry Panggah Susanto after accompanying Minister of Industry Airlangga Hartarto to meet the President Director of Berau Nusantara Kawasan Industri (BNKI) Rauf Purnama. `We do want to have one in Kaltim, originally Pupuk Kaltim (Bontang), but the land was still not ready. Now, in Berau, it is ready,` said Panggah in Jakarta, Thursday. He conveyed, Berau Industrial Area has fairly ready facilities because it has a port, availability of water, electricity, as well as the operation of a pulp and paper industry. Meanwhile, the location in Bontang Industrial Zone is still a forest land, which is considered not ready. `Seeing the condition, its development seems to still take a long time. So, Berau is the most ready,` said Panggah. The Indonesian and Malaysian Governments are serious about encouraging the development of palm oil processing industry capable of increasing product added value and being environmentally friendly. Moreover, Indonesia and Malaysia are the largest producers of palm oil in the world.For that, the Indonesian and Malaysian Governments have initiated a cooperation in the economic sector by establishing a palm oil producing countries unity agency (Council Palm Oil Producing Countries/CPOPC).This agency will focus on creating operational standardization of palm oil industry, from upstream to downstream. Starting from creating the same standard for all palm oil producers, either in the plantation or the processing industry, until palm oil farmer development, stock management, and building of POGEZ.Regarding POGEZ development, the two countries have proposed three locations each.Indonesia wants the development in Dumai Industrial Area, Riau; Berau Industrial Area, East Kalimantan; and Sei Mangkei Industrial Area, North Sumatera. As for Malaysia, in Lahad Datu, Bintulu, and Tanjung Manis.
Editor: Heppy Ratna
http://www.antaranews.com/berita/599870/kemenperin-ajukan-berau-jadi-zona-pengembangan-sawit

Reasons for Indonesia's Withdrawal from OPEC Deemed Vague, Why?

02

Dec

Reasons for Indonesia's Withdrawal from OPEC Deemed Vague, Why?

The decision was questioned because the government revealed the reason for the withdrawal because the OPEC decision did not comply with the [...]

Reasons for Indonesia's Withdrawal from OPEC Deemed Vague, Why?. The decision was questioned because the government revealed the reason for the withdrawal because the OPEC decision did not comply with the assumption of oil production in the 2017 Budget. In the 2017 Budget, national oil production was only cut by 5,000 bph.
“If the reason is due to the budget, well, it becomes very vague. I mean how much was it compared to, for example, our image and our credibility declining among OPEC members?” energy observer and Director of Indonesian Resources Studies Marwan Batubara told Kompas.com, Jakarta, Thursday (1/12/2016) night.
In fact, according to Marwan, Indonesia would gain many benefits if it remained in OPEC. Because the OPEC decision to cut oil production by 1.2 million bph will lead to an increase in world oil prices.
It is predicted that the prices of Indonesia's leading commodities will also increase along with the rise in world oil prices. So far, he said, the plunge in commodity prices has been due to plunging oil prices.
With the recovery in oil and commodity prices of Indonesia's key exports, Marwan is confident that state revenues will increase.
“The government should have a strong commitment so that these prices will recover and compensate for the lack of revenue in the budget due to the reduction in oil production of 37,000 barrels,” said Marwan.
Disproportionate
Apart from the budget reason, Indonesia's decision to withdraw from OPEC was also considered disproportionate to the good relations between oil exporting countries.
After all, Indonesia had only recently returned to become a member of OPEC in December 2015. Marwan remembers very well the reason for the government to re-enter OPEC in December 2015.
At that time, the government had stated that there are many benefits to be gained by joining the organization, and one of them is the benefit of lobbying among members.
”Is it proportionate to the good relations among OPEC members from whom we are very dependent for oil imports? Previously, when we re-entered, it was an honor from the members because we were accepted. But as soon as there is a small problem, we become inconsistent,” said Marwan.
In fact, the government should consider various factors comprehensively before deciding to withdraw from OPEC.
These factors include Indonesia's image in the eyes of OPEC countries and in the broader economic scope related to Indonesia's export commodities.
OPEC Countries Agree to Cut Oil Production

Author
: Yoga Sukmana

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/12/02/114500726/alasan.indonesia.hengkang.lagi.dari.opec.dinilai.sumir.kenapa.

Trump: Companies Leaving U.S. Will Be Taxed

02

Dec

Trump: Companies Leaving U.S. Will Be Taxed

The threat came as Trump announced a deal with air conditioner manufacturer Carrier to keep jobs in the US. "Companies are not going to leave the [...]

Trump: Companies Leaving U.S. Will Be Taxed. The threat came as Trump announced a deal with air conditioner manufacturer Carrier to keep jobs in the US.
`Companies are not going to leave the United States without consequences. Nor does it have to be,` Trump said at the Carrier factory in Indianapolis, as quoted by Channel News Asia on Friday (Dec 2, 2016).
Trump said a company could move plants from state to state or negotiate deals with different states. But it would be difficult for them to leave the US.
During the campaign, the billionaire threatened to impose tariffs on companies that shipped jobs to Mexico or Asia, where wages are lower.
He had repeatedly singled out Carrier, which is part of conglomerate United Technologies Corporation (UTC).
Trump said he had pushed the company not to move thousands of jobs to Mexico.
If Carrier left anyhow, Trump said, his administration would impose a large tariff on Carrier products shipped back to the US.
`I called up Greg (Hayes, the head of UTC) and I said this is a very important thing, we have to do something because you are moving a lot of people and you have to understand that we can't have this happen anymore in the US,` Trump said.
Carrier was offered incentives of US$7 million over 10 years in exchange for guarantees on workforce levels, job retention and capital investment.
The deal will save about 1,100 jobs from being transferred out of the US. It is seen as an extraordinary intervention by a president-elect in industry.
Trump supporters hailed it as part of a vital jobs plan.

Writer
: Sakina Rakhma Diah Setiawan

Editor
: Aprillia Ika

Source
: channel news asia,

http://bisniskeuangan.kompas.com

01

Dec

Oil surges on OPEC deal

The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut output by around 1.2 million barrels per day (bpd) to 32.5 million [...]

Oil surges on OPEC deal. The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut output by around 1.2 million barrels per day (bpd) to 32.5 million bpd, effective Jan. 1, for six months, Xinhua reported.The production cut is the first since 2008. OPEC will meet again in May 2017 to consider extending the agreement for another six months.The cut is being coordinated with non-OPEC producer Russia, which has pledged to reduce production by 300,000 barrels per day.It is the first time since 2001 that Russia has joined OPEC in a production cut. The country has long resisted output cuts and has been pumping at record highs in recent months.Markets rallied on the release of details of the OPEC deal.US benchmark West Texas Intermediate (WTI) crude for January delivery jumped US$4.21 to settle at $49.44 a barrel on the New York Mercantile Exchange. The crude futures contract surged nearly 10 percent during intraday trading, its largest one-day move since February.Meanwhile, global benchmark Brent North Sea crude for January delivery rose $4.09 to end at $50.47 a barrel on the London ICE Futures Exchange.Bolstered by the rising oil prices, the energy sector surged 4.82 percent, the biggest gainer among the 10 S&P 500 sectors.Shares of energy giants Chevron Corporation and Exxon Mobil Corporation gained 2.03 percent and 1.63 percent, respectively.The surge in oil prices also contributed to a stronger dollar. The greenback rose against other major currencies as it fueled investors views of higher inflation in the coming months.  (UU.A026/A/A026/A026)
Editor: Aditia Maruli
http://www.antaranews.com/berita/599204/harga-minyak-melonjak-didorong-kesepakatan-opec

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