Latest News: Page 72

China’s ZTO Express files for biggest U.S. IPO since Alibaba

28

Oct

China’s ZTO Express files for biggest U.S. IPO since Alibaba

The Shanghai-based company raised about $1.4 billion and has a market valuation of more than $12 billion after its stock market debut. It marks the [...]

China’s ZTO Express files for biggest U.S. IPO since Alibaba. The Shanghai-based company raised about $1.4 billion and has a market valuation of more than $12 billion after its stock market debut. It marks the largest U.S. IPO by a Chinese company since e-commerce giant Alibaba Group Holding Ltd raised about $21.8 billion in 2014. Most of the proceeds from the IPO will be used to buy more land, facilities, equipment and trucks, the prospectus said. Founded in 2002, ZTO has seen the number of parcels it delivers jump to 2.94 billion in 2015 from 279 million in 2011, the prospectus said. The courier firm made 4.2 billion yuan (US$619 million) in revenue in the first half of 2016, a 70.8 percent year-on-year increase, with a profit margin of 24.9 percent. China's express delivery sector has been growing rapidly on the back of a booming e-commerce market, with players tapping public markets to fund their expansion in the fiercely competitive industry. ZTO's main rival YTO Express went public on Oct. 20, with others including SF Express, STO Express and Yunda Express also preparing to list. 
Editor: AA Ariwibowo
http://www.antaranews.com/berita/592820/zto-tiongkok-lakukan-ipo-terbesar-di-as-setelah-alibaba

Central Kalimantan Governor: 75 Plantation Permits in Central Kalimantan Threatened to Be Revoked

27

Oct

Central Kalimantan Governor: 75 Plantation Permits in Central Kalimantan Threatened to Be Revoked

"The 75 plantations are suspected of having worked on the land not in accordance with the permits given or the amount of land exceed," he said in [...]

Central Kalimantan Governor: 75 Plantation Permits in Central Kalimantan Threatened to Be Revoked. `The 75 plantations are suspected of having worked on the land not in accordance with the permits given or the amount of land exceed,` he said in Sampit, Wednesday. Sugianto revealed, by not being in accordance with the permit given then the land worked on by the 75 palm oil companies are suspected of being outside of the right to cultivate (HGU). The central government of Kalteng is currently still doing a search on the permits of the palm oil companies that are suspected of having done the violation. From the 75 palm oil companies that are suspected of having done the violation, a number of them operate in the Kotawaringin Timur District. `Depending on the level of the mistake, if the violation is fatal then it is not possible that we will not revoke their permit, but if it is not too severe and it can be tolerated then we will help,` he said. Sugianto said, the central government of Kalteng wants to discipline all of the plantation permits that exist in Kalteng and take firm action against all of the palm oil plantation companies that do violations. `In the main, we want all investors who invest in Kalteng to comply and obey the rules and applicable provisions. I only have one desire, namely, I want this Kalteng to be wealthy and the community to be prosperous,` he said. Sugianto also promised to complete all of the problems of permits of the palm oil plantation that exists in Kalteng. `We will escort and coordinate the problem of the palm oil plantation permits up to the central government, because I definitely do not want there to be any more problems in this Kalteng,` he said. Meanwhile, the Vice-Chairman of DPR RI, Daniel Johan, said, all plantation and mining activities have to run according to the regulations and laws that apply. The operation of the company also has to be in accordance with the Environmental Impact Analysis (Amdal) so that it does not cause a natural disaster. `What is clear is that the natural wealth in Kalteng must be able to increase the social welfare, so that it does not cause social problems and it can encourage social justice for the people. However, if it is proven that they have done a severe violation then we ask that the heaviest possible sanctions be given so that it creates a deterrent effect,` he said.Daniel said, in the near future he will call the related minister to discuss and seek a solution to all of the existing problems in Kalteng.
Editor: Unggul Tri Ratomo

The production of granulated sugar by PTPN X is estimated to decrease

27

Oct

The production of granulated sugar by PTPN X is estimated to decrease

"Currently, sugar production is at 310 thousand tons, which is estimated to have decreased by around 10 percent from last year's amount of 460 [...]

The production of granulated sugar by PTPN X is estimated to decrease. `Currently, sugar production is at 310 thousand tons, which is estimated to have decreased by around 10 percent from last year's amount of 460 thousand tons,` said PTPN X Operations Director Tarsisius Sutaryanto in an interview in Kediri, East Java, on Wednesday. Tarsisius, who was interviewed during the inauguration of the Management of the PTPN X APTRI Branch Office, at the Insumo Hotel in Kediri, said that the climate had greatly affected the production of sugar cane by farmers.  `The climate has been extraordinary, especially the rain since the beginning of the harvest which has not stopped. This is called La Nina,` he said.  Meanwhile, the Head of the APTRI Central Management Board (DPP), Abdul Wachid, added that this year's harvest had been accompanied by much higher costs for farmers, starting from planting.  The high costs were not necessarily followed by an optimal yield. The current yield produced from the sugar cane was around 6.5 percent to 7 percent. On the other hand, a result higher than 7 percent was very difficult at the moment. He said that sugar production would likely decline this year. Sugar production in Indonesia reached 2.6 million tons in 2015, but currently only around 2.3 million tons was produced, which was not enough to fulfill domestic consumption. `If there had been no storm this year (La Nina storm), the production could have reached 2.7 million tons (granulated sugar),` he said. The APTRI was aware that the demand for granulated sugar was expected to be insufficient, but he requested that the government not rush into importing sugar. Instead, he requested that the government was wiser in making this policy.  Many companies had been granted permission to import sugar with values starting from 200 thousand tons to even 650 thousand tons. Ironically, the import was not in the form of white sugar, but rather in the form of refined sugar, which would then be processed into refined sugar.  The APTRI said that the price of sugar was still standard at around Rp11 thousand to Rp12 thousand per kilogram. With this price, the farmers could still make a profit, but if it was below this price, the farmers would start to lose. `We hope that the import will be stopped. The parties who are granted permission to import should be reconsidered. Furthermore, we also request a trade balance, the necessary sugar balance, so that we can help determine whether import is allowed or not. Do not allow imports to continue because it will harm production in 2017,` explained Abdul.
Editor: Tasrief Tarmizi
http://www.antaranews.com/berita/592554/produksi-gula-pasir-ptpn-x-diperkirakan-turun

Palm Oil Price Hike, Blessing for Sebatik Farmers

24

Oct

Palm Oil Price Hike, Blessing for Sebatik Farmers

Previously they admitted that they were still dependent on Tawau Malaysia to sell their plantation results. They had to sell their palm oil at a [...]

Palm Oil Price Hike, Blessing for Sebatik Farmers. Previously they admitted that they were still dependent on Tawau Malaysia to sell their plantation results. They had to sell their palm oil at a cheaper price to the neighbouring country because there was still no company in Nunukan Regency that was able to accommodate their plantation results.
“One ton in Tawau was only worth 400 ringgit (around 1.240.000). Here it is 1.350.000,” said one of the palm oil farmers in Setabu Asri village, Monday (24/10/2016).
Asri admitted that the price of 400 ringgit was better compared to six months before. The owner of the two-hectare plantation stated that previously the broker in Malaysia only valued their palm oil at 1,700 ringgit or around 527,000 with the conversion rate of 1 ringgit to 3,100 rupiah per ton. That had not yet been deducted by transportation costs to Tawau Malaysia.
“We couldn't do anything because we could only sell the palm oil there,” added Asri.
According to Asri, the increase in the price of palm oil from 170 ringgit to 400 ringgit was due to the fact that one of the factories in Sebatik had started a trial run. Asri admitted that the existence of the factory had an impact on the competition of the price of palm oil in Sebatik.
Nonetheless, the farmer who had been engaged in palm oil for five years admitted that not all palm oil farmers in Sebatik sold their palm oil to the factory, but some of them still sold it to Tawau Malaysia for various reasons.
“There are two factories here and one of them is already operational. Since the factory was established, the price has increased because the farmers are free to choose where they want to sell it,” said Asri.

Penulis
: Contributor Nunukan, Sukoco

Editor
: Bambang Priyo Jatmiko

http://bisniskeuangan.kompas.com/read/2016/10/24/141000126/petani.di.sebatik.nikmati.kenaikan.harga.sawit

CPO PRICE OCT 24: Ringgit weakens, palm oil extends gains

24

Oct

CPO PRICE OCT 24: Ringgit weakens, palm oil extends gains

Palm oil futures for January 2017, the most active contract on Bursa Malaysia, opened 0.55 percent higher this morning or 15 points to reach the [...]

CPO PRICE OCT 24: Ringgit weakens, palm oil extends gains. Palm oil futures for January 2017, the most active contract on Bursa Malaysia, opened 0.55 percent higher this morning or 15 points to reach the level of 2,739 ringgit per ton. Its movement continues to rise 0.70 percent or 19 points to reach the position of 2,743 at 10:01 WIB. Meanwhile, in the trading on Friday (21/10), the price of palm oil closed higher by 0.22 percent or 6 points at the position of 2,724. In the meantime, the valuation of the Malaysian ringgit this morning is observed to have weakened by 0.08 percent to reach 4,1825 per US dollar at 10:17 WIB. As quoted by Bloomberg today, MIDF Research has maintained the positive review of the plantation sector and predicts the price of palm oil at a range of 2,500-3,000 ringgit per ton in the next three months along with the low supply of palm oil globally. The Malaysian research company also stated that plantation issuers can benefit slightly from the increase in exports and improvement of the quality of palm oil in the long term. Movement of CPO Contract Prices for January 2017

Date

Level

Change

24/10/2016(10:01 WIB)
2.743
+0,70%

21/10/2016

2.724

+0,22%

20/10/2016

2,718

-0,51%

19/10/2016

2.732

+0,66%

18/10/2016

2.714

-1,95%

Source: Bloomberg

Editor: Gita Arwana Cakti

23

Oct

Gradual Closure Of Sugar Factories

The nine sugar factories that will be closed are Rejosari, Kanigoro, and Purwodadi sugar factories in Madiun, then Toelangan and Watoetoelis sugar [...]

Gradual Closure Of Sugar Factories. The nine sugar factories that will be closed are Rejosari, Kanigoro, and Purwodadi sugar factories in Madiun, then Toelangan and Watoetoelis sugar factories in Sidoarjo, then Meritjan sugar factory in Kediri, and three sugar factories in Situbondo, i.e. Pandji sugar factory, Olean sugar factory, and Wringinanom sugar factory.
“So it is not true if the closure was done at once, it will still be carried out gradually,” said the President Director of PTPN XI, Dolly P Pulungan in Jember, East Java.
According to Dolly, the age of the factories that will be closed are averagely above 100 years old. “So averagely they are already old, but the closure could take three years, or even four years later, while we conduct the study,” he asserted.
The closed sugar factories, Dolly said, will not be just left alone, but their functions will be changed.
“For example in Situbondo Regency, there are three sugar factories that will be closed, so we will convert one factory into a fertilizer factory, and convert the other two into maintenance factories. If we have a workshop center, we will not have to cooperate with partners,” he asserted.
By changing the function of the sugar factories, it is hoped that there will be no mass rationalization of employees.
“They will still be employed, or we will cooperate with them as our partners. Those who are about to retire will still retire, so it is natural,” he said.
It was previously reported that the government through the Ministry of SOEs will close a number of sugar factories in East Java.
The reason is to regroup and increase efficiency of the SOEs. The sugar factories that will be closed are those under the management of PTPN IX, X, XI, and PT Rajawali Nusantara Indonesia (RNI).

Writer
: Jember Contributor, Ahmad Winarno

Editor
: M Fajar Marta

http://bisniskeuangan.kompas.com/read/2016/10/22/222026226/penutupan.pabrik.gula.akan.dilakukan.secara.bertahap

Latest News