Latest News: Page 83

PTPN III Invests Rp680 Billion to Build Cooking Oil Factory

19

Jul

PTPN III Invests Rp680 Billion to Build Cooking Oil Factory

President Director of PTPN III Elia Massa Manik explained that the palm oil factory has a production capacity of 600,000 tons per year. The company [...]

PTPN III Invests Rp680 Billion to Build Cooking Oil Factory. President Director of PTPN III Elia Massa Manik explained that the palm oil factory has a production capacity of 600,000 tons per year. The company will acquire 2,000 hectares (ha) for the factory site.
`The land for the palm oil factory has been settled. The only remaining problems are infrastructure and gas,` Elia said in Jakarta on Monday (June 18, 2016).
The reason PTPN III built the factory is to meet the current societal needs. Elia said that total public consumption has reached 1.4 million tons.
`If we look at it from the 600,000 tons, the demand has reached almost 1.4 million tons per year,` Elia explained.
Elia explained that the Sei Mangke area is also home to a private company, Unilever. According to Elia, the company is prepared to cooperate and take the remaining production materials from the palm oil production.
`So that's why we are considering a partnership,` Elia concluded.
Elia added that the company is targeting to complete the construction of the palm oil factory by 2018.
`If we count from 20 months from now, it should be done,` Elia said.

Author: Adiatmaputra Fajar Pratama
Editor: Sanusi

http://www.tribunnews.com/bisnis/2016/07/19/ptpn-iii-investasi-rp-680-miliar-untuk-bangun-pabrik-minyak-goreng

Tax Amnesty; Singapore Prepares Incentives to Prevent Repatriation of Funds to Indonesia, This is the Response of Kadin

19

Jul

Tax Amnesty; Singapore Prepares Incentives to Prevent Repatriation of Funds to Indonesia, This is the Response of Kadin

So that they do not withdraw their money stored in Singapore banks and move it to Indonesia along with the issuance of a tax amnesty by the Republic [...]

Tax Amnesty; Singapore Prepares Incentives to Prevent Repatriation of Funds to Indonesia, This is the Response of Kadin. So that they do not withdraw their money stored in Singapore banks and move it to Indonesia along with the issuance of a tax amnesty by the Republic of Indonesia's government.
Vice President of the Indonesian Chamber of Commerce and Industry (Kadin) Shinta Widjaja Kamdani admitted that she has heard about the offer.
`So that the funds do not enter Indonesia, but are only declared. If declared, the funds and assets are still managed there (Singapore), it is their action and of course with a better return,` said Shinta when met at the BKPM Building, Jakarta, Monday (7/18/2016).
According to Shinta, the incentive given by Singapore does not only come in the form of offers of better yield, but also the redemption fee that Indonesian entrepreneurs have to pay of 4 percent if they make a declaration will be paid by Singapore.
`‎Entrepreneurs will look at which one has a greater return, if in Singapore it is greater, then it is withheld, but if it is greater in Indonesia, it will be moved back here,` said Shinta.
Shinta suggests that the government really prepare a better product than Singapore, regarding safety and enticing yield.
`Ultimately, entrepreneurs look for a better yield, so now we have to compete, how can Indonesia give a better yield so that they are willing to move their funds to Indonesia,` she said.
Author: Seno Tri SulistiyonoEditor: Choirul Arifin

19

Jul

PTPN3 Records IDR 615 Billion Loss

The loss was revealed by Elia Massa Manik during a Press Conference at the Agro Plaza, South Jakarta, Monday (18/7).Regarding the cause of such [...]

PTPN3 Records IDR 615 Billion Loss. The loss was revealed by Elia Massa Manik during a Press Conference at the Agro Plaza, South Jakarta, Monday (18/7).Regarding the cause of such losses, Elia Massa Manik mentioned that PTPN's main target nowadays is to increase the productivity of land owned by subsidiaries under the plantation holding. This is because the productivity of land managed by PTPN 1-4 (a merger of PTPN1 through PTPN4) has only reached 18.5 tons per hectare, lower than the average 24 tons per hectare achieved by private plantations.`The thing we must pursue first is productivity. So if the average productivity for national private companies is 24 tons per hectare, we are still at 18.5 tons. That's what we must pursue first,` Elia explained. To increase the productivity of land managed by PTPN, we will conduct research. The plantation company's expenses are also rather high because they need to cover inefficient production costs.`Then, the second is cost. The cost must be competitive. Currently, on average, compared to a private company, our cost is 20% higher. These are the two main problems that must be resolved,` Elia said.Spending to cover production costs is also a result of the low productivity of PTPN's land. The two things are the main problems in developing the plantation industry in Indonesia.`The cost is high because the productivity is low. The cost of managing one hectare is the same everywhere. If they can get 100 and we only get 80, the cost will be higher, right,` Elia said.`I would prefer if we settled the productivity issue first,` Elisa insisted.Building a Cooking Oil FactoryOn the same occasion, Elia Massa revealed that the corporate move that would be carried out by his company is building a cooking oil factory in the Special Economic Zone (KEK) of Sei Mangke, North Sumatera.The cooking oil factory that will be operated by the parent holding of the state plantation company will have a capacity of 600,000 tons per year, with an investment value reaching up to Rp 558 billion. The factory will be built on land that spans 2,000 hectares. The construction will begin this year.`We will build a cooking oil factory with a capacity of 600,000 tons, with an investment of Rp 558 billion in Sei Mangke. The land issue has been settled. We have 2,000 hectares of industrial area there,` Elia Massa Manik said.However, the current obstacle is the access road from and to the Kuala Tanjung Port. The access road is considered to be minimal. Furthermore, the gas network in the area has not yet been installed.`Indeed, there is an infrastructure problem that must be resolved, such as the accessibility to the Kuala Tanjung Port, along with a gas problem, and so on,` Elia said.PTPN3's business expansion was carried out because the fulfillment of domestic cooking oil needs is still not enough. His company also welcomes the private sector to participate in the construction of the cooking oil factory.`Cooking oil is considered because the technology is still affordable. If we look at the 600,000 tons, the demand has reached 1.4 million tons per year. We are still open to partnerships, Unilever maybe?` Elia said.59% from Palm OilPTPN3, as the parent company of 13 government-owned plantation companies, recorded earnings of Rp 37 trillion in 2015. Of the total earnings, around 59% came from the sale of palm oil, or around Rp 22 trillion. The company expects earnings to increase this year.`Revenue was Rp 37 trillion, of which palm oil contributed Rp 22 trillion. This year, we hope it will grow as much as possible,` Elia said.With the existence of the palm oil moratorium, he does not see it as an obstacle. According to him, with the total palm oil land spanning 440,000 hectares, there is still a lot of empty land. The current focus is on increasing the productivity of palm oil land in Indonesia.`Everything has been evaluated; our palm oil land spans 440,000 hectares. There is still a lot that hasn't been planted,` Elia said.He also believes that increasing palm oil optimization by 10% will increase land productivity and also add to the company's earnings from palm oil.`If we can just increase productivity by 10%. We are focusing on this land first. Why take more land when this land has not been optimized?` Elia concluded. (dtf)
http://www.medanbisnisdaily.com/news/read/2016/07/19/246058/ptpn3-mengalami-kerugian-rp-615-miliar/#.V42wCxJna1s

Fed says U.S. economy grew at a moderate pace in June

14

Jul

Fed says U.S. economy grew at a moderate pace in June

“ The overall outlook is positive across economic sectors, including retail sales, manufacturing and real estate,” the Fed said in its latest [...]

Fed says U.S. economy grew at a moderate pace in June. “ The overall outlook is positive across economic sectors, including retail sales, manufacturing and real estate,” the Fed said in its latest Beige Book, which gauged economic conditions in its 12 districts. The survey showed that districts on balance expected growth to continue at a modest pace. Labor market conditions firmed, with employment expanding at a modest to moderate pace since mid-May, the report said. With labor markets tightening, wage pressures remained modest to moderate across districts. Price pressures remained low. Consumer spending was generally positive but showed some signs of softening, the report said. Most districts characterized the outlook for consumer spending activity as optimistic. The Fed opted to leave interest rates unchanged at its June policy meeting amid uncertainty in financial markets and Britain's referendum on whether to leave the European Union. Some Fed officials, including Fed Governor Daniel Tarullo, have recently called for patience on raising interest rates given the low inflation environment and Brexit uncertainty.

Global oil prices fell after U.S. supplies disappoint

14

Jul

Global oil prices fell after U.S. supplies disappoint

The U.S. benchmark, West Texas Intermediate (WTI) for August delivery, fell $2.05 to settle at $44.75 a barrel on the New York Mercantile Exchange.In [...]

Global oil prices fell after U.S. supplies disappoint. The U.S. benchmark, West Texas Intermediate (WTI) for August delivery, fell $2.05 to settle at $44.75 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for September delivery, the global benchmark, slid to $46.26 a barrel, shedding $2.21 from Tuesday's close.The data from the US Department of Energy (DoE) `has put a damper on the overall market,` said Carl Larry of Frost & Sullivan. `Supply still seems to be ample. Overall, people still don't think demand is that great.`The contracts had jumped almost five percent Tuesday after OPEC said it expected a global supply glut to shrink this year and next as output by non-cartel producers falls.But Wednesday's US inventory data weighed on the market. Commercial crude oil inventories declined by 2.5 million barrels in the week to July 8, but remained at historically high levels. Analysts had forecast a fall of three million barrels, according to a Bloomberg News survey.Product stockpiles meanwhile unexpectedly climbed, including gasoline and distillates such as diesel.Crude production, which has been steadily falling in recent months, rose by 50,000 barrels per day in the past week.The crude draw was not large enough to change market sentiment, Larry said. `The tone is bearish.`
Editor: AA Ariwibowohttp://www.antaranews.com/berita/573053/harga-minyak-dunia-turun-setelah-persediaan-as-mengecewakan

Golden Agri Resources Supports Sustainable Palm Oil Industry

13

Jul

Golden Agri Resources Supports Sustainable Palm Oil Industry

The Managing Director for Sustainability & Strategic Stakeholders Engagement of Golden Agri Resources (GAR) Agus Purnomo supports the [...]

Golden Agri Resources Supports Sustainable Palm Oil Industry. The Managing Director for Sustainability & Strategic Stakeholders Engagement of Golden Agri Resources (GAR) Agus Purnomo supports the government’s move to build a sustainable palm oil industry where companies will implement improved social and environmental policies. Agus said that this is because economic growth and environmental preservation can go hand in hand. `We also focus on helping oil palm farmers improve their productivity, welfare and sustainable farming practices,` he explained. Continuing the company’s commitment to sustainability with its zero deforestation and zero exploitation policies, GAR also supports the Indonesian government in accelerating the transformation process for the palm oil industry. This commitment continues, with a focus on the implementation of sustainable policies to protect and preserve the environment, as well as empowering plasma and independent farmers and achieving 100 percent traceability in the supply chain. `We are committed to supporting the government,` added the Chief Sustainability Officer of Wilmar International Limited Jeremy Goon. Meanwhile, the Deputy Chairman for International Relations of the Indonesian Chamber of Commerce and Industry (Kadin) Shinta Kamdani said that the companies that have signed the IPOP are committed to supporting the strengthening and improvement of ISPO as the international market standard. `Next, we hope for better coordination between the government and the private sector in transforming the palm oil sector,` said Shinta.(far/jos/jpnn) http://www.jpnn.com/read/2016/07/13/453377/Golden-Agri-Resources-Dukung-Industri-Sawit-Berkelanjutan-

Latest News