The SOE Ministry has prepared the former Chairman of Indonesian Corruption Eradication Commission (KPK) Erry Riyana Hardjapamekas to become the President Commissioner of Bank Negara Indonesia (BNI) to replace Zaky Baridwan.
The replacement should be in the bank's EGMS on February 6. In the EGMS the bank will also reshuffle the directors.
Felia Salim is a candidate of BNI director, and there will be two new names for the commissioners.
The present commissioners of the bank are Suwarsono, Felia Salim, Achjar Iljas, Effendi, Parikesit Suprapto, and H.M.S. Latif. "Erry Riyana is strong candidate for BNI president commissioner."
Erry Riyana, meanwhile, said he does not know the plan and nobody has approached him on this plan. "I don't know this and SOE Ministry has not approached me."
Another former Chairman of KPK, Taufikkurahman Ruki, has been assigned as the president commissioner of PT Krakatau Steel.
Some bankers like Felia Salim, Lilies Handayani, Elvyn Gani Massasa, Eddy Soeparno, and Mirza Adityaswara have been invited to take fit and proper test to become commissioners and directors of BNI.
The name of those who pass the test will be sent to Bank Indonesia. There will be two candidates for every position.
Following the reshuffle the government will offer 20% or 3.04 billion shares of the bank to strategic investors, which are international class bank.
"Hopefully the market appetite over BNI will improve so that the sale will be optimum."
Later the SOE Ministry will invite local and international brokers to help BNI to sell the shares.
If the shares are sold at IDR2,050, the government will generate IDR6.26 trillion.
Today the government still has green shoe stocks of 4.14%. With the additional stocks of 15.86%, the total will be 20% for the government to sell to strategic investor.
International Finance Corporation (IFC), the World Bank Unit, has been ready to buy BNI stocks
Thursday, January 31, 2008
Monday, January 28, 2008
BNI Get US$150 Million Loan From SCB
PT Bank Negara Indonesia Tbk has secured the commitment to get US$150 billion in loan from Standard Chartered Bank (SCB) to refinance its debt.
The International and Treasury Director of BNI, Fero Poerbonegoro, said the bank will allocate US$100 million to repay the debt that will be matured this year.
"We got the commitment of US$150 million loan from SCB at the tenor of three years. We will use the money to prevent from maturity mismatch and to repay the maturing debt of US$100 million," he said last week.
He said that the maturing debt of US$100 million is with the tenor of one year. "We extend the tenor with the new debt. The interest rate will refer to Singapore inter-bank offered rate (Sibor)."
The International and Treasury Director of BNI, Fero Poerbonegoro, said the bank will allocate US$100 million to repay the debt that will be matured this year.
"We got the commitment of US$150 million loan from SCB at the tenor of three years. We will use the money to prevent from maturity mismatch and to repay the maturing debt of US$100 million," he said last week.
He said that the maturing debt of US$100 million is with the tenor of one year. "We extend the tenor with the new debt. The interest rate will refer to Singapore inter-bank offered rate (Sibor)."
Thursday, January 24, 2008
Bumi Serpong to Sell 30% Shares to Get IDR2 Trillion
PT Bumi Serpong Damai (BSD) has planned to sell 30% shares in an initial public offering to generate IDR2 trillion of capital.
An executive getting involved in the transaction said the company has assigned CLSA as the underwriter.
"The IPO will be at the second half of the year at the latest while the first half is also possible. It will use the money to expand its business," he said last week.
He said that the performance of BSD will keep growing amid the decline in interest rate. "With the BI Rate of 8%, it will be easier for customer to buy houses."
BSD is the developer of BSD City Real Estate with the total areas of 6,000 hectares that will be developed in three steps. The first step is 1,300 hectares, the second step is 2,400 hectares and the third one is 2,300 hectares.
As of 2006 the company has developed 20,000 houses, 4,000 multi purposes houses, and the population of the city is 100,000.
BSD also has developed 11 lakes at the total of 23 hectares.
An executive getting involved in the transaction said the company has assigned CLSA as the underwriter.
"The IPO will be at the second half of the year at the latest while the first half is also possible. It will use the money to expand its business," he said last week.
He said that the performance of BSD will keep growing amid the decline in interest rate. "With the BI Rate of 8%, it will be easier for customer to buy houses."
BSD is the developer of BSD City Real Estate with the total areas of 6,000 hectares that will be developed in three steps. The first step is 1,300 hectares, the second step is 2,400 hectares and the third one is 2,300 hectares.
As of 2006 the company has developed 20,000 houses, 4,000 multi purposes houses, and the population of the city is 100,000.
BSD also has developed 11 lakes at the total of 23 hectares.
Director BNI
Elvyn Gani Masasya (Corporate Secretary BNI), Lilies Handayani (President Director BNI Life), Eddy Soeparno (Executive Merril Lynch), Mirza Adityaswara (Anallyst Credit Suisse) follow fit and proper test for directors of BNI.
The Vice President Director of BNI Gatot Mudiantoro Suwondo, a relative to President Susilo Bambang Yudhoyono, is the strong candidate to replace Sigit Pramono, the present president director.
The SOE Minister Sofyan Abdul Djalil has told Sigit Pramono on November 15 that the SOE ministry will reshuffle the board of directors of BNI.
The Vice President Director of BNI Gatot Mudiantoro Suwondo, a relative to President Susilo Bambang Yudhoyono, is the strong candidate to replace Sigit Pramono, the present president director.
The SOE Minister Sofyan Abdul Djalil has told Sigit Pramono on November 15 that the SOE ministry will reshuffle the board of directors of BNI.
Sunday, January 20, 2008
Bakrie Family to Raise IDR48.4 Trillion
Bakrie family is going to raise IDR48.4 trillion from the sales of shares of PT Bumi Resources Tbk (35%), PT Energi Mega Persada Tbk (40%), anf PT Bakrieland Development Tbk (40%) to PT Bakrie & Brothers Tbk.
With the funds, Bakrie family will be ready to become the standby buyer in Bakrie & Brothers's rights issue, which will be done to maintain the ownership of the company at 28%.
However, there is a possibility Bakrie would increase its shares if investors don't exercise their rights in the corporate action.
Following the acquisition plan, President Director of Bakrie & Brothers Bobby Gafur Umar revealed the company prepared several financing options, such as through rights issue (IDR40.1 trillion), warrant issuance (IDR2.9 trillion), and banking loans (IDR8.3 trillion).
He continued in the rights issue, Bakrie & Brothers would be helped by financial advisors Danatama Makmur and CLSA. "The management of the company has talked about this with Bakrie family. After a long negotiation, both parties finally reached a sale and puchase agreement," he informed at a press conference in Jakarta last week.
Bobby added the acquisition process was expected to be completed in April 2008 after the Shareholders General Meeting gave their approval
"We will buy 6.79 billion shares of Bumi, 5.76 billion shares of Energi, and 7.84 billion shares of Bakrieland worth IDR36.9 trillion, IDR7.2 trillion, and IDR4.3 trillion, respectively," he exposed.
Lift suspension
Listing Director at the Indonesia Stock Exchange (BEI) Eddy Sugito disclosed BEI woud lift the suspension of Bakrie & Brothers's stock once the company had submitted their complete prospectur.
BEI on January 16 suspended Bakrie & Brother's stock until further notice.
The stock price on January 15 was closed at IDR280, down by 3.45% from IDR290 a day before.
Concerning the financial performance of the company, Financial Director of Bakrie & Brothers Yuanita Rohali explained the company in October 2007 booked IDR13.5 trillion in pre-acquisition asset value.
"After the acquisition, the company's asset value will soar to IDR36.5 trillion and the company's net profits will also skyrocket from IDR167.5 billion to IDR2.99 trillion."
Yuanita said of IDR51.3 trillion in total funds, IDR48.4 trillion would be used to acquire the three companies.
With the funds, Bakrie family will be ready to become the standby buyer in Bakrie & Brothers's rights issue, which will be done to maintain the ownership of the company at 28%.
However, there is a possibility Bakrie would increase its shares if investors don't exercise their rights in the corporate action.
Following the acquisition plan, President Director of Bakrie & Brothers Bobby Gafur Umar revealed the company prepared several financing options, such as through rights issue (IDR40.1 trillion), warrant issuance (IDR2.9 trillion), and banking loans (IDR8.3 trillion).
He continued in the rights issue, Bakrie & Brothers would be helped by financial advisors Danatama Makmur and CLSA. "The management of the company has talked about this with Bakrie family. After a long negotiation, both parties finally reached a sale and puchase agreement," he informed at a press conference in Jakarta last week.
Bobby added the acquisition process was expected to be completed in April 2008 after the Shareholders General Meeting gave their approval
"We will buy 6.79 billion shares of Bumi, 5.76 billion shares of Energi, and 7.84 billion shares of Bakrieland worth IDR36.9 trillion, IDR7.2 trillion, and IDR4.3 trillion, respectively," he exposed.
Lift suspension
Listing Director at the Indonesia Stock Exchange (BEI) Eddy Sugito disclosed BEI woud lift the suspension of Bakrie & Brothers's stock once the company had submitted their complete prospectur.
BEI on January 16 suspended Bakrie & Brother's stock until further notice.
The stock price on January 15 was closed at IDR280, down by 3.45% from IDR290 a day before.
Concerning the financial performance of the company, Financial Director of Bakrie & Brothers Yuanita Rohali explained the company in October 2007 booked IDR13.5 trillion in pre-acquisition asset value.
"After the acquisition, the company's asset value will soar to IDR36.5 trillion and the company's net profits will also skyrocket from IDR167.5 billion to IDR2.99 trillion."
Yuanita said of IDR51.3 trillion in total funds, IDR48.4 trillion would be used to acquire the three companies.
Pertamina to Get New Directors on January 22
The Ministry of State Owned Enterprises (MSOE) confirmed it will reshuffle the directors of the state owned Pertamina during the EGMS on January 22. The directors of upstream industries and of human resources will be reshuffled.
The SOE Minister Sofyan Abdul Djalil said the reshuffle will be discussed in the EGMS and the target is to create the better organization.
"The reshuffle for the better organization is possible. If the team is not good, we have to restructure it," he said last week.
President Director of Pertamina has sent a letter to SOE Minister to replace the two directors. But Sofyan declined to comment on this.
The SOE Minister Sofyan Abdul Djalil said the reshuffle will be discussed in the EGMS and the target is to create the better organization.
"The reshuffle for the better organization is possible. If the team is not good, we have to restructure it," he said last week.
President Director of Pertamina has sent a letter to SOE Minister to replace the two directors. But Sofyan declined to comment on this.
Wednesday, January 16, 2008
Maspion to Generate US$100 Million from IPO
PT Maspion has planned to offer 40% shares to the capital market in the first quarter of the year to generate US$85 million - US$100 million.
My source said the company has assigned PT Mandiri Sekuritas and BNP Paribas to become the underwriter.
"As much as 30% will be the new stocks and 10% will be from the existing stocks," he said me yesterday.
He said the company will use 40% of the money to fund the expansion plan and the other 40% and 20% will be for debt repayment and working capital.
"The company will use the money to develop new facility and to develop other business."
Last year, the Chairman of Maspion Group, Alim Markus said the company has planned to sell 25%-30% shares of PT Bank Maspion Indonesia to the stock market.
The IPO of the two units will be this year.
PT Maspion has six units - PT Maxim Maspion (99.99%), PT Maspion Elektronik (99.26%), PT Maspion Kencana (99.99%), PT Srithai Maspion Indonesia, PT Ishizuka Maspion Indonesia, and PT Alaskair Maspion.
The company has been focusing on the production of household equipments.
Maxim Maspion is on cooking equipments, Maspion Elektronik on rack and refrigerator, and Maspion Kencana is on PVC pipe.
Srithai Maspion Indonesia produces melamine based household equipments, Ishizuka Maspion produces potteries, and Alaskair Maspion produces blender and fan.
The company has produces some brands like Aubecq, Allibert, Excelon, Jawa, Makita, Marunaga, Maslon, Maspion, Maxim-Inox, Maxim, Tivoli and Vanda.
The group also has jumped into property sector through PT Bumi Maspion. The company has been developing 180 units of warehouses on 140 hectares of land in Romokalisari.
The group also develops Maspion Square, a shopping center in the area.
Maspion also has planned to jump into palm and bio-diesel business outside Java on 100,000 - 200,000 hectares of land.
Maspion Group also has been interested in developing Tunjungan Market to become a new integrated business district with the investment of IDR150 billion, in cooperation with the government of Surabaya.
With the IPO the core capital will increase from IDR1.06 trillion to IDR2.07 trillion this year. In the meantime the net gearing ratio of the company will decline from 67.4% to 11.1%.
The group has eight business pillars - consumer, industrial products, construction, property, banking, distribution and trading, energy and other industry.
As of June 2007 the company's export has been focused to the markets of North America (56%), Asean (9%), Europe (11%), Japan (14%), Other Asian Areas (6%), Australia (2%), South America (1%), and the Middle East (1%).
In 2006 the export markets were North America (68%), Japan (11%), Europe (8%), Asean (5%), Other Asian Countries (3%), South America (2%), Australia (2%), and the Middle East (1%).
The group has developed a harbor in the industrial estate of Maspion of Gresik in addition to the jetty that has the capacity of 300 metric tons per hour. The jetty was handled by PT Siam Maspion Terminal.
My source said the company has assigned PT Mandiri Sekuritas and BNP Paribas to become the underwriter.
"As much as 30% will be the new stocks and 10% will be from the existing stocks," he said me yesterday.
He said the company will use 40% of the money to fund the expansion plan and the other 40% and 20% will be for debt repayment and working capital.
"The company will use the money to develop new facility and to develop other business."
Last year, the Chairman of Maspion Group, Alim Markus said the company has planned to sell 25%-30% shares of PT Bank Maspion Indonesia to the stock market.
The IPO of the two units will be this year.
PT Maspion has six units - PT Maxim Maspion (99.99%), PT Maspion Elektronik (99.26%), PT Maspion Kencana (99.99%), PT Srithai Maspion Indonesia, PT Ishizuka Maspion Indonesia, and PT Alaskair Maspion.
The company has been focusing on the production of household equipments.
Maxim Maspion is on cooking equipments, Maspion Elektronik on rack and refrigerator, and Maspion Kencana is on PVC pipe.
Srithai Maspion Indonesia produces melamine based household equipments, Ishizuka Maspion produces potteries, and Alaskair Maspion produces blender and fan.
The company has produces some brands like Aubecq, Allibert, Excelon, Jawa, Makita, Marunaga, Maslon, Maspion, Maxim-Inox, Maxim, Tivoli and Vanda.
The group also has jumped into property sector through PT Bumi Maspion. The company has been developing 180 units of warehouses on 140 hectares of land in Romokalisari.
The group also develops Maspion Square, a shopping center in the area.
Maspion also has planned to jump into palm and bio-diesel business outside Java on 100,000 - 200,000 hectares of land.
Maspion Group also has been interested in developing Tunjungan Market to become a new integrated business district with the investment of IDR150 billion, in cooperation with the government of Surabaya.
With the IPO the core capital will increase from IDR1.06 trillion to IDR2.07 trillion this year. In the meantime the net gearing ratio of the company will decline from 67.4% to 11.1%.
The group has eight business pillars - consumer, industrial products, construction, property, banking, distribution and trading, energy and other industry.
As of June 2007 the company's export has been focused to the markets of North America (56%), Asean (9%), Europe (11%), Japan (14%), Other Asian Areas (6%), Australia (2%), South America (1%), and the Middle East (1%).
In 2006 the export markets were North America (68%), Japan (11%), Europe (8%), Asean (5%), Other Asian Countries (3%), South America (2%), Australia (2%), and the Middle East (1%).
The group has developed a harbor in the industrial estate of Maspion of Gresik in addition to the jetty that has the capacity of 300 metric tons per hour. The jetty was handled by PT Siam Maspion Terminal.
Tuesday, January 15, 2008
KS to be Disposed to Strategic Partner
The government reviews to sell a 20% stake in PT Krakatau Steel (KS) to strategic partner before it conducts initial public offering (IPO) scheduled to take place by the end of the year.
KS plans to offer 29% of its shares in the IPO, which aims to generate fresh funds to improve the capital structure of the state-owned steel manufacturer.
Data by Bisnis showed the 2006 prognosis report exposed KS in 2006 recorded IDR39.92 billion in loss on IDR12.31 trillion in total sales.
In the 2007 prognosis, KS was able to book IDR164 billion in post-tax profits on IDR12 trillion in total sales. KS in 2007 was projected to post IDR215 billion in post-tax profits on IDR15.6 trillion in total sales.
KS is the largest steel producer in Indonesia. In 2007, the state-owned steel market produced 1.8 million tons of HRC and 650,000 tons of CRC.
KS plans to offer 29% of its shares in the IPO, which aims to generate fresh funds to improve the capital structure of the state-owned steel manufacturer.
Data by Bisnis showed the 2006 prognosis report exposed KS in 2006 recorded IDR39.92 billion in loss on IDR12.31 trillion in total sales.
In the 2007 prognosis, KS was able to book IDR164 billion in post-tax profits on IDR12 trillion in total sales. KS in 2007 was projected to post IDR215 billion in post-tax profits on IDR15.6 trillion in total sales.
KS is the largest steel producer in Indonesia. In 2007, the state-owned steel market produced 1.8 million tons of HRC and 650,000 tons of CRC.
10 Investment Banks Competing to Underwrite Semen Gresik's Bonds
PT Semen Gresik Tbk has invited ten local and foreign investment banks to compete to becoming lead underwriter and lead arranger for its US$300 million - US$500 million bonds.
The bonds will be likely with the tenor of five years and Semen Gresik will sell it next month. The company has planned to use the money to fund its business expansion.
An executive getting involved in the transaction said that the 10 banks are Bahana Securities, Citigroup, Credit Suisse, Danareksa Sekuritas, Deutsche Bank, Lehman Brothers, Mandiri Sekuritas, Merrill Lynch, Standard Chartered Securities, and UBS Securities.
The bonds will be likely with the tenor of five years and Semen Gresik will sell it next month. The company has planned to use the money to fund its business expansion.
An executive getting involved in the transaction said that the 10 banks are Bahana Securities, Citigroup, Credit Suisse, Danareksa Sekuritas, Deutsche Bank, Lehman Brothers, Mandiri Sekuritas, Merrill Lynch, Standard Chartered Securities, and UBS Securities.
Tuesday, January 8, 2008
Bakrie to Make IDR45 Trillion in Internal Acquisition
PT Bakrie & Brothers Tbk is going to conduct rights issue and seek loans to raise IDR45 trillion in fresh funds in a bid to acquire three internal strategic companies in the property, energy, and mining sectors.
Some foreign investment bankers revealed the rights issue was estimated to be completed by the end of June 2007.
Bakrie & Brothers may combine the rights issue with loan, but the portion is still being calculated. The maximum ratio is one to one or probably 60% rights issue and 40% loans.
According to information in the market yesterday, the rights issue price of Bakrie & Brothers's stock was around IDR250. The plan was submitted to the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) yesterday.
Bakrie & Brothers is going to buy 40% stakes in the three companies at below market prices. If the internal acquisition is realized, Bakrie & Brothers's rights issue will be the largest in Indonesia's capital market in the past five years.
The largest rights issues last year were the ones made by PT Barito Pacific Tbk, which was able to raise IDR9.26 trillion and by PT BNI Tbk, which was able to generate IDR8.1 trillion.
After the rights issue, Bakrie & Brothers-which has been a holding company of business units with interests in the telecommunication, plantation, and infrastructure businesses-will become a private equity investment.
In doing the corporate action, Bakrie & Brothers will be helped by financial advisor Danatama Makmur and Morgan Stanley. Investment banks that will help seeking the IDR45 trillion funds are Danatama, Barclays Capital, Morgan Stanley, Credit Suisse, and CLSA.
Some foreign investment bankers revealed the rights issue was estimated to be completed by the end of June 2007.
Bakrie & Brothers may combine the rights issue with loan, but the portion is still being calculated. The maximum ratio is one to one or probably 60% rights issue and 40% loans.
According to information in the market yesterday, the rights issue price of Bakrie & Brothers's stock was around IDR250. The plan was submitted to the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) yesterday.
Bakrie & Brothers is going to buy 40% stakes in the three companies at below market prices. If the internal acquisition is realized, Bakrie & Brothers's rights issue will be the largest in Indonesia's capital market in the past five years.
The largest rights issues last year were the ones made by PT Barito Pacific Tbk, which was able to raise IDR9.26 trillion and by PT BNI Tbk, which was able to generate IDR8.1 trillion.
After the rights issue, Bakrie & Brothers-which has been a holding company of business units with interests in the telecommunication, plantation, and infrastructure businesses-will become a private equity investment.
In doing the corporate action, Bakrie & Brothers will be helped by financial advisor Danatama Makmur and Morgan Stanley. Investment banks that will help seeking the IDR45 trillion funds are Danatama, Barclays Capital, Morgan Stanley, Credit Suisse, and CLSA.
Friday, January 4, 2008
PGN Broker
SOE Ministry has threatened to place some brokers to negative list for any transaction of publicly listed SOEs.
The Secretary of SOE Ministry Muhammad Said Didu said that Bapepam LK also has to punish the brokers committed to the illegal trading.
"There was huge sale from a broker when the stock price declined. Even the broker still sold huge amount of stocks when the price has recovered. We see that at least there has been ethical violation by the brokers during the illegal trading."
He said that the illegal trading has included some brokers. "Other SOEs have to watch the brokers that have traded PGN stocks in huge size."
He said that when there is abnormal trading based on unpublished information, it must be closely watched.
"The government has asked the authority to see the two sides. We agree with law enforcement, but it must be seen from the two sides as brokers have posted lots of profit."
Said said that the way Bapepam handles the case will drive brokers to do the same thing by seeking insider information to get abnormal profit.
"Brokers will keep seeking insider information to get abnormal profit to get trust from investors."
Bapepam-LK has investigated 12 brokers but it did not find any evidence that they have committed to insider trading.
The Secretary of SOE Ministry Muhammad Said Didu said that Bapepam LK also has to punish the brokers committed to the illegal trading.
"There was huge sale from a broker when the stock price declined. Even the broker still sold huge amount of stocks when the price has recovered. We see that at least there has been ethical violation by the brokers during the illegal trading."
He said that the illegal trading has included some brokers. "Other SOEs have to watch the brokers that have traded PGN stocks in huge size."
He said that when there is abnormal trading based on unpublished information, it must be closely watched.
"The government has asked the authority to see the two sides. We agree with law enforcement, but it must be seen from the two sides as brokers have posted lots of profit."
Said said that the way Bapepam handles the case will drive brokers to do the same thing by seeking insider information to get abnormal profit.
"Brokers will keep seeking insider information to get abnormal profit to get trust from investors."
Bapepam-LK has investigated 12 brokers but it did not find any evidence that they have committed to insider trading.
Rekayasa Industri to Go Public
PT Rekayasa Industri (Rekin), a state company on construction and engineering, has planned to sell 30% shares in initial public offering.
For the first step the government will sell 4.97% shares of the company to PT Pupuk Sriwidjaja.
The Secretary of SOE Ministry M Said Didu said that the IPO will be this year.
"The government owns Rekin directly and indirectly through Pusri. We will sell our direct ownership to Pusri and later Pusri will offer the stocks of Rekin to the public," he said this week.
He said the company will use the money to expand the business. "The government will not take the money as the company will use it to expand the business."
Didu said the SOE Ministry has discussed the plan with Privatization Committee. He said Pusri will still control Rekin. "Usually we propose that the offering is 30% so that we will still control the unit."
Rekin belongs to Pusri (90.06%), the government (4.97%), and Pupuk Kaltim. Rekin is state company on engineering, procurement, and construction (EPC).
The company has been working in some industries like gas, geothermal, refinery, petrochemical, mineral, environment management and infrastructure. The company has seven units like Rekayasa Industri Malaysia Sdn, Bhd, PT Yasa Industri Nusantara, PT Rekayasa Engineering, PT Rekayasa Konsultan, Comspain SA, PT Mega Eltra and PT Puspetindo.
For the first step the government will sell 4.97% shares of the company to PT Pupuk Sriwidjaja.
The Secretary of SOE Ministry M Said Didu said that the IPO will be this year.
"The government owns Rekin directly and indirectly through Pusri. We will sell our direct ownership to Pusri and later Pusri will offer the stocks of Rekin to the public," he said this week.
He said the company will use the money to expand the business. "The government will not take the money as the company will use it to expand the business."
Didu said the SOE Ministry has discussed the plan with Privatization Committee. He said Pusri will still control Rekin. "Usually we propose that the offering is 30% so that we will still control the unit."
Rekin belongs to Pusri (90.06%), the government (4.97%), and Pupuk Kaltim. Rekin is state company on engineering, procurement, and construction (EPC).
The company has been working in some industries like gas, geothermal, refinery, petrochemical, mineral, environment management and infrastructure. The company has seven units like Rekayasa Industri Malaysia Sdn, Bhd, PT Yasa Industri Nusantara, PT Rekayasa Engineering, PT Rekayasa Konsultan, Comspain SA, PT Mega Eltra and PT Puspetindo.
Wednesday, January 2, 2008
Krisna Wijaya Resigns from LPS
The Executive Chairman of Indonesian Deposit Insurance Corporation (LPS) Krisna Wijaya has resigned from his post starting January 1 2008.
Firdaus Djaelani, the director of Guarantee and Risk Management of LPS, will temporary take over the job. Krisna has been in that post starting September 22 2005, accompanying Rudjito as the Chairman of Board Commissioner of the agency.
Krisna said he will focus to get his doctorate degree from Gajahmada University.
"The next executive chairman will be assigned later as it has to be assigned by President. For time being the job will be handled by Firdaus Djaelani," he said yesterday.
He said repeatedly that LPS is designed to become market stabilizer. In this regard LPS has placed its money at sovereign bonds and Bank Indonesia's promissory notes.
Krisna was graduated from Bogor Agricultural University and got his master degree from Gajahmada University. In 1980 he became staff member of BRI, and in 1083 he became Senior Leasing Officer of PT Sanwa BRI Leasing.
In 2000 he become operational director of BRI and in 2003 he become micro and retail banking director of BRI. In 2005 he joined LPS.
Firdaus Djaelani, the director of Guarantee and Risk Management of LPS, will temporary take over the job. Krisna has been in that post starting September 22 2005, accompanying Rudjito as the Chairman of Board Commissioner of the agency.
Krisna said he will focus to get his doctorate degree from Gajahmada University.
"The next executive chairman will be assigned later as it has to be assigned by President. For time being the job will be handled by Firdaus Djaelani," he said yesterday.
He said repeatedly that LPS is designed to become market stabilizer. In this regard LPS has placed its money at sovereign bonds and Bank Indonesia's promissory notes.
Krisna was graduated from Bogor Agricultural University and got his master degree from Gajahmada University. In 1980 he became staff member of BRI, and in 1083 he became Senior Leasing Officer of PT Sanwa BRI Leasing.
In 2000 he become operational director of BRI and in 2003 he become micro and retail banking director of BRI. In 2005 he joined LPS.
Government to Reshuffle BNI Directors on February 6
PT Bank Negara Indonesia Tbk (BNI) will arrange extraordinary general meeting of shareholders to assign new directors of the bank.
Initially the Ministry of State Owned Enterprise (MSOE) has planned to arrange the EGMS late last year. The SOE Minister Sofyan Abdul Djalil has asked the directors to arrange EGMS.
BNI Vice President Director Gatot Mudiantoro Suwondo said in a filing to the Capital Market and Financial Institution Supervisory Board (Bapepam LK) said the company will arrange such EGMS.
The agenda is on reshuffle of directors and remuneration on independent commissioner.
Shareholders with more than 10% shares may propose other agenda before January 14.
Gatot, a relative to President Susilo Bambang Yudhoyono, is among the strongest candidate of president director.
Gatot has the opportunity to become the president director of BNI, but he still has to pass fit and proper test at Bank Indonesia. Sigit Pramono, the president director, and three other directors will be replaced.
Minister Sofyan Djalil has said on November 15 that he will replace the directors of BNI later last year in a bid to improve the performance of the bank.
Initially the Ministry of State Owned Enterprise (MSOE) has planned to arrange the EGMS late last year. The SOE Minister Sofyan Abdul Djalil has asked the directors to arrange EGMS.
BNI Vice President Director Gatot Mudiantoro Suwondo said in a filing to the Capital Market and Financial Institution Supervisory Board (Bapepam LK) said the company will arrange such EGMS.
The agenda is on reshuffle of directors and remuneration on independent commissioner.
Shareholders with more than 10% shares may propose other agenda before January 14.
Gatot, a relative to President Susilo Bambang Yudhoyono, is among the strongest candidate of president director.
Gatot has the opportunity to become the president director of BNI, but he still has to pass fit and proper test at Bank Indonesia. Sigit Pramono, the president director, and three other directors will be replaced.
Minister Sofyan Djalil has said on November 15 that he will replace the directors of BNI later last year in a bid to improve the performance of the bank.
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