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Rubber prices up 1 on opening, eases later

29

Sep

Rubber prices up 1 on opening, eases later

The price of rubber for March 2017 delivery, the most active contract on the Tokyo Commodity Exchange, jumped 1.03 percent or 1.70 points to 166.30 [...]

Rubber prices up 1 on opening, eases later. The price of rubber for March 2017 delivery, the most active contract on the Tokyo Commodity Exchange, jumped 1.03 percent or 1.70 points to 166.30 yen per kilogram (kg) at 07:57 WIB.
Previously, the rubber price for the March contract opened slightly lower by 0.06 percent at 164.50 yen per kg.
At the same time, the yen exchange rate was seen weakening 0.45 percent or 0.45 points to 101.14 against the US dollar at 08:02 WIB after opening stagnant at 100.69.
Meanwhile in yesterday’s trading (Wednesday, 28/9), the price of the March rubber contract closed with a slight increase of 0.06 percent to 164.60 along with a decline in rubber stocks in China and Japan.
“A decline in rubber stocks in China and Japan has supported the strengthening price of the rubber commodity,” said Naohiro Nimura, partner at Market Risk Advisory, as quoted by Bloomberg.
Movement in Rubber Prices for the March 2017 Contract on the TOCOM

Date
Price (Yen/Kg)
Change

29/8/2016(07:57 WIB)
166.30
+1.03%

28/9/2016
164.60
+0.06%

27/9/2016
164.50
-

Source: Bloomberg (djk)http://www.bumn.go.id

Telkom Supports Business Transformation of PTPN Holding Towards World-Class Plantation Company

29

Sep

Telkom Supports Business Transformation of PTPN Holding Towards World-Class Plantation Company

The commitment was proven with the kick-off for the service management implementation of the enterprise resources planning (ERP) SAP PTPN Agro [...]

Telkom Supports Business Transformation of PTPN Holding Towards World-Class Plantation Company. The commitment was proven with the kick-off for the service management implementation of the enterprise resources planning (ERP) SAP PTPN Agro Industry Management System at the PTPN Plantation Training Institute (LPP) Office, Yogyakarta, on Friday (September 23).The kick-off was carried out by Telkomsigma President Director Judi Achmadi who represented Telkom’s Enterprise & Business Service Director and PTPN III Managing Director Elia Massa Manik, witnessed by all PTPN Holding Directors and Commissioners and other Telkom representatives.Judi Achmadi said that by implementing ERP at PTPN, Telkom delivered a complete SAP ERP module needed both by the front end of the plantation industry and the back end module. "In the agro industry, a benchmark in the private plantation industry has been used which has implemented ERP, so implementing ERP is a must to improve the company’s competitive position in the industry," he said.Judi Achmad conveyed some best practices and benefits of ERP implementation in some companies in the BUMN and private scopes that were delivered by Telkom in this opportunity."Telkom hopes that by successfully implementing ERP, PTPN will grow faster and become a leading global company based on agro industry and give a contribution to the national and regional economic growth through operational activities and sustainable development," said Judi.This BUMN synergy between Telkom and PTPN is aligned with BUMN Minister Rini Soemarno’s direction to improve the productivity of BUMN Plantation. By implementing ERP, PTPN as a BUMN in the plantation industry can improve the process efficiency and integration of business processes. The productivity increases because it is supported by data which is accurately integrated, on time, and improves the quality and accuracy of internal and external reporting.Through ERP, Telkom supports system restructuring in PTPN by implementing technology related to goods and services procurement, so it is expected to achieve efficiency and transparency from upstream to downstream which will have an impact on PTPN’s maximum productivity in three years.http://ekonomi.metrotvnews.com/mikro/eN4vg81k-telkom-dukung-transformasi-bisnis-ptpn-holding-menuju-bumn-perkebunan-kelas-dunia

BUMN Synergy, Telkom Implements ERP Solution for PTPN

29

Sep

BUMN Synergy, Telkom Implements ERP Solution for PTPN

"Implementation of SAP ERP solution in PTPN to make the company a world-class plantation BUMN," said President Director of Telkomsigma Judi Achmadi [...]

BUMN Synergy, Telkom Implements ERP Solution for PTPN. `Implementation of SAP ERP solution in PTPN to make the company a world-class plantation BUMN,` said President Director of Telkomsigma Judi Achmadi in Jakarta, Wednesday. The ERP solution launch inauguration was directly performed by Judi Achmadi who represented Enterprise & Business Service Director Telkom with President Director of PTPN III Elia Massa Manik and was witnessed by all Directors and Commissioners of PTPN Holding and Telkom representatives. Judi Achmadi explained that through the ERP implementation in PTPN, Telkom delivers complete ERP SAP modules needed by the agro industry, both plantation front end and back end modules. `In the agro industry, there has been a lot of benchmarking in the private plantation industry that has implemented ERP system so ERP system implementation is a must to improve a company’s competitive position in the industry,` he said. With this ERP implementation, PTPN will grow faster into a leading global company based on agro industry and successfully contribute in increasing the regional and national economic growth through continuous business operation and development. He added, this BUMN synergy between Telkom and PTPN is in line with the direction of BUMN Minister Rini Soemarno to increase the productivity of Plantation BUMNs. `Through the ERP system, PTPN as BUMN operating in the plantation industry can improve process efficiency and business process integration,` he said. Productivity increases because it is supported by data that is accurately and timely integrated and improves the quality and accuracy of internal and external reporting. Through the ERP implementation, Telkom supports the system restructuring in PTPN by implementing technology related with goods and services procurement.  Thus, it is expected that efficiency and transparency from upstream to downstream will be achieved. This will have an impact on PTPN's productivity which will be more maximum in three years.  (R017)
Editor: Ruslan Burhani
http://www.antaranews.com/berita/587203/sinergi-bumn-telkom-implementasi-solusi-erp-ptpn

Opec agrees 'historic' oil production cut

29

Sep

Opec agrees 'historic' oil production cut

OPEC President Mohammed Bin Saleh Al-Sada said at a press conference following the six-hour long extraordinary meeting, that the cartel’s members [...]

Opec agrees 'historic' oil production cut. OPEC President Mohammed Bin Saleh Al-Sada said at a press conference following the six-hour long extraordinary meeting, that the cartel’s members have reached an agreement to limit their oil output.The OPEC official praised Algeria’s efforts, `which provided a sort of an opportunity to bring us together and decide on an important issue regarding the oil market.`Al-Sada said the participants agreed to form a committee to look into the production shares of each member state. The committee will then report back at the next OPEC meeting, which will be held in Vienna in November.He further noted that the committee is also meant to coordinate joint accords among the cartel’s members in a bid to expedite the process of rebalancing the oil market. He said both OPEC and non-OPEC producers (in reference to Russia) should share the burden of production adjustment.Asked if the outcome of the Algiers’ meeting will send oil prices higher, he noted that the market alone controls the prices.Earlier on Wednesday, reports emerged that Algeria has proposed that OPEC members cut their oil output by 796,000 barrels per day.The North African country suggested that Saudi Arabia, the top oil producer, cap its output at around 10.3 million barrels per day. It also proposed that Iran limit its production to 3.7 million barrels per day.Algerian Prime Minister Abdelmalek Sellal on Tuesday met with Saudi Arabian Deputy Oil Minister Prince Salman bin Abdul Aziz bin Salman Al-Saud and Iranian Oil Minister Bijan Namdar Zanganeh.Sellal tried to narrow the differences between Iran and Saudi Arabia to facilitate the informal OPEC meeting seen as an opportunity to agree on output freeze or cut.Algeria has been exerting significant diplomatic efforts over the past months to persuade OPEC and non-OPEC producers to gather in Algiers for an `informal` meeting to revive the slumping oil market.Algerian Minister of Energy Noureddine Bouterfa said earlier this week that oil prices of between US$50-60 per barrel would be beneficial for both consumers and producers as it would help maintain investment and therefore guarantee the availability of this primary energy product in the long term, Xinhua reported.(A026)
Editor: Unggul Tri Ratomohttp://www.antaranews.com/berita/587259/potong-produksi-opec-capai-kesepakatan-bersejarah

23

Sep

Global Oil Prices Increase Again

U.S. crude stockpiles fell by 6.2 million barrels last week, the U.S. Energy Information Administration (EIA) said in its weekly report on Wednesday, [...]

Global Oil Prices Increase Again. U.S. crude stockpiles fell by 6.2 million barrels last week, the U.S. Energy Information Administration (EIA) said in its weekly report on Wednesday, beating market consensus of a 3.4-million-barrel decline.  Oil prices were further supported by a weaker greenback, which makes the dollar-priced commodity more attractive to holders of other currencies.  The U.S. dollar continued to weaken against major currencies on Thursday after the Federal Reserve decided to leave interest rates unchanged on Wednesday.  The dollar index, which measures the greenback against six major currencies, fell 0.25 percent to 95.420 in late trading.  U.S. benchmark West Texas Intermediate (WTI) crude for November delivery rose 98 cents to settle at $46.32 a barrel on the New York Mercantile Exchange.  Meanwhile, Brent North Sea crude for November delivery gained 82 cents to close at $47.65 a barrel on the London ICE Futures Exchange.  Oil prices also advanced as traders looked ahead to a key meeting of major oil-producing countries next week in Algeria.  Members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers plan to hold talks in Algiers next week on how to tackle a global supply glut, which sent oil prices to near 13-year lows in early 2016.  Analysts said their chances of reaching a deal have improved after news that oil giants Saudi Arabia, Iran and Qatar met at OPEC headquarters in Vienna, according to the Xinhua News Agency. (UU.A026)
Editor: Maryati

OIL PRICES SEPT 23: WTI Dips, Pressured By Selloff After Gains

23

Sep

OIL PRICES SEPT 23: WTI Dips, Pressured By Selloff After Gains

On the other hand, the weakness of oil was also affected by the caution ahead of the OPEC meeting next week in Algeria to discuss the possibility of [...]

OIL PRICES SEPT 23: WTI Dips, Pressured By Selloff After Gains. On the other hand, the weakness of oil was also affected by the caution ahead of the OPEC meeting next week in Algeria to discuss the possibility of cooperation in terms of production in order to withstand the global supply excess. Based on Bloomberg data, the WTI oil price for the November contract weakened 1.14% or 0.53 points to US$45.79 per barrel at 11.47 WIB, after opened with a weakening of 0.54% at the position of US$46.07. At the same time, the European benchmark Brent oil for the November contract weakened 0.86% or 0.41 points to the level of US$47.24, after opening down 0.48% or 0.23 points at the level of 47.42. According to traders, as reported by Reuters today, the weakness in the price of crude oil was mainly caused by the sell-off following the strong price in the previous two trades. The price weakness may also be influenced by the increase in crude oil stocks, with global production having exceeded the amount of consumption with almost no disruption since mid-2014. `Supply has risen again, and the large number of refining capacity have exited the market, meeting the demand for crude oil,` said the commodity broker Marex Spectron. On Thursday (22/9), the price of WTI oil for the November contract closed up 2.16% or 0.98 points to US$46.32, while the European benchmark Brent oil for the November contract ended sharply up 1.75% or 0.82 points to US$47.65 per barrel.

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