PLN: Net Profit Up 15 833 Percent

Company Limited reported a net profit of PLN in the first half of 2013 amounted to 15 833 percent compared to the same period of 2012.
Head of Commercial Division PLN Benny Marbun in Jakarta on Thursday, said the first half of 2013, net income reached Rp 4, 78 trillion, a significant increase of Rp 4, 75 trillion over the same period of 2012 which only 30 billion.
“The increase in net income was mainly due to tremendous rise in foreign exchange earnings which are noncash Rp 7, 6 trillion,” he said.
In the first half of 2012, the electricity SOEs suffered losses at Rp 6, 7 trillion, while the first half 2013 profit rate RP0, 9 trillion in order to obtain foreign exchange gain of Rp 7, 6 trillion.
Though, Benny continued, on the other hand an increase in interest expense and finance Rp2, 3 billion and increase the tax burden Rp1, 6 trillion.
According to him, the increase in foreign exchange gain of Rp 7, 6 trillion, mainly due to the appreciation of the rupiah against the yen by 10.4 percent even though at the same time the rupiah depreciated 2.7 percent against the U.S. dollar.
In the first half of 2012, the rupiah depreciated against both the yen and the U.S. dollar, respectively 2.4 percent and 4.5 percent.
“PLN pretty much liability in that decline yen yen positive impact on net income,” he said.
Benny also said that the first half of 2013 operating revenues rose 4.8 percent to Rp116, 7 billion when compared to the first half of 2012 amounted to Rp111, 4 trillion.
The increase in revenue, primarily from an increase in sales volume due to the addition of electric power customers and increase rates on a quarterly basis starting in January 2013 account.
Meanwhile, the operating expenses recorded Rp98, 3 trillion, up 3.6 percent compared to 2012 Rp94, 9 trillion.
“The increase in operating expenses among others, due to increased consumption of fuel and lubricants due to increased electricity sales and rising fuel prices,” he said.
Thus, he continued, first half 2013 operating income rose R1, 9 billion or 11.5 percent of Rp16, 5 trillion to Rp18, 4 trillion.
To EBITDA increased 10.1 percent to Rp30, 4 trillion from Rp27, 6 trillion.
The amount of non-current assets increased 2.6 percent to Rp484, 6 trillion on June 30, 2013 from Rp472, 1 trillion on December 31, 2012.
Current assets rose 0.9 percent to Rp69, 2 trillion on June 30, 2013 from Rp68, 6 trillion at December 31, 2012.
“The total number of the company’s assets at the end of Semester 1 in 2013 amounted to Rp553, 8 billion or increased by Rp13, 1 trillion from Rp540, 7 billion at December 31, 2012,” said Benny.

Analysts: Fear Makes Case IM2 Investors Capital Market.

JAKARTA – the current capital market investors worried about the telecommunications business pascaputusan court corruption (corruption) cases IM2. Equity analyst Pardomuan Sihombing explains, penalties and regulations that ensnare IM2 yet fully clear.
Pardomuan also assess the regulations are not clear as IM2 case could ensnare anyone who runs a business in the country. In this case the investors in the world’s capital markets.
“It could happen (investors will fear) that the decision was negative, meaning that is associated with the regulation of the telecommunications industry,” said Pardomuan Sihombing, Sunday (07/21/2013).
Pardomuan asserted, the current capital market investors require legal certainty. According to Pardomuan, IM2 case and rules in the telecommunications industry should be clear, so as to ensure the future development of the business.
“Investors who will invest in doubt whether an investment fund to be back or not, when the company suddenly entangled case,” said Pardomuan.
Pardomuan added that the symptoms have not been perceived concerns, the article of the legal process is not over. However, if there is already a binding verdict and declared IM2 guilty, then the impact will be felt.
“We all expect the final result will be better,” said Pardomuan.
Previously reported, the Corruption Court sentenced former Director of IM2, Indar Atmanto kuruangan 4 years with a fine of Rp 200 million, with subsidiary imprisonment of 3 months. Judge also sentenced IM2 pay fines of Rp 1.3 trillion. Judges cooperation-IM2 Indosat network there is an element of corruption.
This ruling a major impact, as almost all sectors of the telecommunications businesses registered as a public company is also running a similar business model. Including PT Indosat Tbk, PT Telkomsel, PT XL Axiata Tbk, PT Smartfren Telecom, PT. Bakrie Telecom Tbk and others.
Communication sector alone contributes to Rp 11.8 trillion in revenues and in 2012. This figure is the biggest revenue for Indonesia in addition to the energy and mineral resources.

Pertamina Increase Production of Lube Base Oil Refinery Cilacap LOC

PT Pertamina (Persero), SK Lubricants Co.., And PT Patra SK signed a Memorandum of Understanding (MoU) for the implementation of the feasibility study for a project to increase production capacity and marketing of lube base oil refinery LOC RU IV Cilacap.
The signing of the MoU by Pertamina processing director Chrisna Damayanto, CEO & President of SK Lubricants Kwan Ho Choi, and SK Patra President Personal Dadik in Jakarta,
The feasibility study will include technical, market, and economic aspects of the project will be the basis for the three companies to work together to increase the production capacity of the lube base oil refinery LOC RU IV Cilacap, from Group I to Group II. Through this partnership, LOC RU IV Cilacap refinery will be designed to be able to produce lube base oil Group II which has better quality and environmentally friendly, while still producing lube base of Group I.
The signing of this MOU is in line with Pertamina plans to accelerate expansion in the field of downstream Pertamina to realize the mission of profitable downstream. In addition, this project plans to reinforce the company’s commitment to improving Indonesia’s economy by controlling the domestic and regional markets, according to the vision of a World Class Energy Company and became Champion in Asia in 2025.
“The increase in lube base oil production capacity of RU IV Cilacap Refinery LOC is intended to capture the best possible opportunities in the trend of increasing demand for environmentally friendly lube base in the domestic market, regional and global. It is also in line with Pertamina’s commitment to maintain and preserve the environment, “said Vice President of Corporate communiation Mundakir Ali in a press release on Thursday (04/07/2013).
The feasibility study is expected during the period of 6-8 months. After the signing of this MOU, the three companies will form a joint team to finalize a focused strategic agreement to form a joint venture company.
South Korean companies, SK Lubricants, a leading global player in the field of production and marketing of a variety of lube base oil Group, mainly in the South Korean market, Asia and Europe. SK Patra is a joint venture between PT Patra Niaga and SK Energy is engaged in the production and marketing of lube base oil plant site in Dumai, Riau.

PSC which is 7 Oil Production Exceeds Target

JAKARTA – Special Unit Managing Upstream Oil and Gas (SKK Migas) said oil production in the first half of this year reached an average of 831,118 barrels per day (bpd), or 99 percent of the target set in the state budget in 2013 amounting to an average of 840,000 barrels of oil per day.

Head of Oil and Gas SKK Rudi Rubiandi, said as many as seven Sharing Contract (PSC) surpassed the revised budget target of 2013.

“That ConocoPhillips Indonesia Ltd, Vico Indonesia, Medco E & P Indonesia (S & C Sumatra), PHE ONWJ, Chevron Pacific Indonesia, Medco E & P Indonesia (Rimau) and ConocoPhillips (Grissik) Ltd,” Rudi said in Jakarta, Thursday (01/08/2013 ).

The following oil production of 7 KKKS who achieved the target:

1. ConocoPhillips Indonesia Ltd managed to achieve oil production by an average of 34 867 barrels per day from the target in the state budget in 2013 amounted to 32 890,

2. Vico Indonesia managed to produce as much as 13,740 barrels of oil per day from the target of 13 010 barrels per day,

3. Medco E & P Indonesia (S & C Sumatra) managed to produce 6,841 barrels of oil per day from the target of 6,630 barrels per day,

4. PHE ONWJ managed to produce 38 996 barrels of oil per day from the target of 38 080 barrels per day,

5. Chevron Pacific Indonesia managed to produce 323 014 barrels of oil per day from the target of 319 430 barrels per day

6. Medco E & P Indonesia (Rimau) managed to produce 14,086 barrels of oil per day from the target of 14,060 barrels per day

7. ConocoPhillips (Grissik) Ltd managed to produce 9,435 barrels of oil per day from its target of 9,430 barrels per day.

WIKA Rp 457 Billion Record Earnings, Up 29%

PT Wijaya Karya Tbk (WIKA) recorded a 29.2% rise in net profit in 2012, amounting to Rp 457.86 billion from Rp 354.50 billion in the previous period. This increase was driven increase in the turnover of SOEs.

WIKA’s coded sales reached Rp 9.82 trillion, up 26.9% from 2011’s Rp 7.74 trillion.

“The increase in sales in the year 2012 the profit growth in several business segments,” he disclosed WIKA 2012 financial statements, as quoted detikFinance, Tuesday (03/19/2013).

WIKA sales over the past year supported by six business segments namely construction, (civil and building), mechanical electrical, energy investment, concrete products (precast), realty and property, and manufacturing.

“Construction services, mechanical electrical, and energy investments are managed by the Parent Company accounts for 70.4% of total sales WIKA,” he added.

Water Dragon year, WIKA sales target company could reach Rp 11.86 trillion, up 20.8% from the realization in 2012 that amounted to Rp 9.82 trillion. While, for net income, is targeted to reach Rp 555.06 billion, up 21.2% from the figure for 2012.

Pertamina Oil Production Add 3,000 bpd of Madura

A subsidiary of PT Pertamina (Persero), Pertamina Hulu Energi West Madura Offshore (PHE WMO) managed to increase oil production of 3,000 barrels per day (bah) and 10 mmscfd of gas.

General Manager of PHE WMO H Kardono Bambang said, adding that diproduksikannya wells from the platform PHE 54.

“So PHE WMO production today reached 24,200 barrels per day (bpd) production increased 77 percent compared to the current production was first administered PHE WMO WMO Block on May 7, 2011 and which only amounted to 13.725 bph,” Bambang said in Jakarta, Thursday (1 / 8/2013).

Bambang added that the pavilion PHE 54 bridge is one of three new rigs and one platform improvements constructed and installed after the block is managed by PHE WMO WMO.

“With the completion of projects in the pipeline under the sea 16 inch long 21 kilometers connecting 54 PHE, PHE PHE 39 and 38B to Poleng Processing Platform (PPP), the four wells in Pavilion PHE 54 can begin to be produced,” said Bambang.

Bambang said, in the second half of 2013, PHE WMO will drill nine development wells.

“With the addition of the wells are then expected to meet production targets are already in stake in the work plan budget (Work, Plant & Budget / WP & B) WMO 2013. Semester of 14 thousand barrels per day, until the end of the year hopefully up to 20 443 bpd. We still completed nine wells hopefully rise again, “he said.

Three options for the sugar mills Kigumas

Sugar Sugar Factory Industrial Society in the village of rewards, Gondanglegi District, Malang, East Java, has not operated in accordance with expectations, but construction costs are not small. Malang Regent Rendra Krishna prepared three options that will be taken to the rescue.

“There are three options to be offered to the continuation of the sugar mill, but until now still not sure which option will be selected district government,” said Renda Krishna in Malang, Friday.

Three options for the fate of Sugar Industrial Estate Society (Kigumas) which was built in 2003 it is whether it will be sold, or donated to community cooperation. Which option will be taken subject to approval by the board of the district government.

Further Rendra said a number of attempts have been made by the regency of Malang, including conducting due diligence and legal opinions in 2012. Currently also being conducted appraisal (valuation) to calculate how much the value of the actual building Kigumas.

He was admitted to the present PT Kigumas previously built with the hope to contribute to local revenue (PAD) and improve the welfare of sugarcane farmers, it is still not operating as expected.

In fact, the Renda, the condition lasts long enough. Moreover, after the emergence of case law in the area of ​​industrial projects plantation society (kimbun) which spread to PT Kigumas, for being one of the evidence in the case.

“We hope this problem has a solution soon so Kigumas can operate according to expectations and objectives in its development,” said Renda.

Chairman of Malang Regency Saso previous day also questioned the handling and assets that do not generate revenue Kigumas at all, even the condition of buildings and equipment gilingnya also “stalled”.

Kigumas Sugar Factory which was inaugurated by President Megawati Sukarnoputri to-5 was built starting in 2001 with a budget of Rp30 billion from the budget revenue and expenditure (budget) Malang.

Kigumas initially built to accommodate the farmers who harvest sugar cane annually excess production, so it must be sent to a number of areas.

Kigumas development on an area of ​​11 thousand square meters that can be targeted return on investment (BEP) after one year of operation. Initial design is able to produce sugar Kigumas super category one with a production capacity of 250 TCD.

Build Plant Milk, Kalbe Rp 300 Billion Spending

PT Kalbe Farma, drug manufacturers and national health supplements, plans to build a dairy factory in the Cikampek, West Java. According to the Director of Finance and Corporate Secretary of Kalbe Farma, Vidjongtius, the plant cost around Rp 300 billion. “The project started in 2014,” he said at a media gathering.
Vidjongtius said the plant will be owned by the installation of a fourth milk production Kalbe Farma. With the construction of this plant, Kalbe increase milk production capacity of 12 thousand tons to 24 thousand tons per year.
Funds to build the plant will be met from capital expenditure Kalbe Farma in 2013, which reached Rp 1.5 trillion. According Vidjongtius, until the first half, the company has spent at least 40 percent of the annual capital expenditure. “The new plant is expected to support business growth in the future,” he said.
In 2012, Kalbe has completed the construction of dairy factory in Sukabumi, West Java. This plant is the result of cooperation with PT Milko Beverage Industry. Kalbe, which poured an investment of Rp 154 billion, became the majority owner with 51 percent parts.
Throughout 2013, Kalbe targeting revenue growth and net income by 18 percent. That figure is above the growth of the pharmaceutical industry which reached 15 percent. In 2012, Kalbe Farma pocketed a net profit of Rp 1.73 trillion and Rp 13.6 trillion in net sales. Thus, the company targets a net profit of Rp 2.04 trillion and Rp 16 trillion in net sales in 2013.

Ministry of Industry: Industrial Area Outside Java Push Equity

Secretary of the Directorate General for Development zoning Budhi Setyanto Industry Ministry said construction of an industrial area outside Java is important to encourage the growth of the industrial sector of national equity.
“There is no other way to encourage the spread of the industry outside of Java, in addition to developing industrial areas outside Java,” said Budhi Setyanto in a meeting with the Chamber of Commerce and Industry (Kadin) Indonesia, in Jakarta on Wednesday.
He said so far the industrial area on the island of Java is the largest that as many as 55 pieces, 16 pieces while in Sumatra, Sulawesi two, and Kalimantan only one industrial area.
The director this resulted in inequality between the industrial development in Java and outside Java.
“Whereas in the Greater Jakarta area less competitive, so it is necessary the development of regions outside Java,” he said.
He describes the challenges of developing industrial areas outside Java, are also constrained to limited land and limited carrying capacity as water. While outside Java development challenges that inadequate infrastructure, lack of human resources capability, not all districts / cities have good spatial planning, as well as the lack of interest of private investment outside Java.
“Special stimulate the development of industrial areas outside Java, like it or not the government should intervene directly, because to date none of the private sector who want to build an industrial area outside Java,” he said.

This is 7 Oil and Gas Company Reaches Oil Production Target

Jakarta – Special Unit Managing Upstream Oil and Gas (Migas SKK) recorded as many as 7 Contractors Cooperation Contract (PSC) oil production surpassed the target of state budget 2013.

PSC’s seventh among others:

ConocoPhillips Indonesia Ltd managed to achieve oil production by an average of 34 867 barrels per day from the target in the state budget in 2013 amounted to 32 890,
Vico Indonesia managed to produce as much as 13,740 barrels of oil per day from the target of 13 010 barrels per day,
Medco E & P Indonesia (S & C Sumatra) managed to produce 6,841 barrels of oil per day from the target of 6,630 barrels per day,
PHE ONWJ managed to produce 38 996 barrels of oil per day from the target of 38 080 barrels per day,
Chevron Pacific Indonesia managed to produce 323 014 barrels of oil per day from the target of 319 430 barrels per day
Medco E & P Indonesia (Rimau) managed to produce 14,086 barrels of oil per day from the target of 14,060 barrels per day
ConocoPhillips (Grissik) Ltd managed to produce 9,435 barrels of oil per day from its target of 9,430 barrels per day.

Head of Oil and Gas SKK Rudi Rubiandini said the PSC is still not able to meet the target set in the state budget-2013 as well as targets in the Work Programme and Budget (WP & B) in 2013, then the PSC are immediately improve their performance in order to meet the targets set.

“Performance targets are not reached so soon improved to the national oil production target could also be exceeded. What we are doing right now is working for the State, for the national interest because it lets us collaborate and work together,” Rudi said in a written statement, Wednesday (7/31/2013)

He said a number of non-technical constraints such as the licensing process in local government, including the issue of sealing oil wells crude oil theft is still a major persolaan in an effort to increase national oil production.

Rudi hope the Regents participate and support efforts to increase domestic oil production in order to improve the welfare of the people in Indonesia.

“State revenue from oil and gas are not only enjoyed by the people in the oil and gas producing areas but also enjoyed by the public at the end of the island in the archipelago that has no oil. Due to direct oil and gas revenues into the State account and straight into the oil and gas revenues in the state budget enjoyed by the whole people Indonesia from Sabang to Merauke, “he said.

He also said the state’s revenues from the management of upstream oil and gas in the first half of this year reached U.S. $ 18.7 billion from the target set by U.S. $ 18.4 billion for the first half of the year.

While oil production in the same period reached an average of 831,118 barrels per day or 99% of the target set in the state budget in 2013 amounted to an average of 840,000 barrels of oil per day.