SBY discusses world oil prices with Cabinet

The Jakarta Post, Jakarta | Mon, 07/18/2011 12:12 PM

The President discussed two pressing issues with Cabinet members at a meeting on Monday morning: essential goods for the upcoming fasting month and increasing world oil prices.

The meeting, led by President Susilo Bambang Yudhoyono, was attended by at least 10 ministers and coordinating ministers, and was held at Halim Perdanakusuma Airport in East Jakarta.

Yudhoyono said uncertainties in Japan following the Fukushima nuclear plant meltdown were one of the causes of a shift in world oil prices. He added that the government planned to reduce oil subsidies by reducing the volume of subsidized fuel used.

“Efficiency [programs] in electricity and fuel use has had good results,” Yudhoyono said, as reported by tempointeraktif.com.

Later, the President is scheduled to fly to Bali to open the ASEAN Ministerial Meeting and ASEAN Regional Forum.

Those present at the morning meeting included Coordinating Economic Minister Hatta Rajasa, Coordinating Political, Legal and Security Affairs Minister Djoko Suyanto, Trade Minister Mari Elka Pangestu and Religioius Affairs Minister Suryadharma Ali.

Pertamina increases non-subsidized fuel prices

The Jakarta Post | Tue, 03/01/2011 3:43 PM | Business

State oil and gas firm PT Pertamina on Tuesday increased the prices of its non-subsidized fuels.

According to the company’s website, Pertamax fuel is now priced at Rp 8,100 (92 US cents) per liter in Jakarta, an increase of Rp 150 per liter from the previous price, while Pertamax plus is now priced at Rp 8,550 per liter.

In Bali, the price of Pertamax increased from Rp 8,250 to Rp 8,350 per liter.

In Batam, Pertamax plus increased by Rp 100 from its previous price of Rp 8,000 per liter.

The increases were mostly around Rp 100, but in West Sumatera the price of Pertamax increased by Rp 250 from Rp 8,650 per liter.

Mandiri prices rights shares at Rp 4,000-6,150

The Jakarta Post | Tue, 12/28/2010 12:31 PM | Business

Bank Mandiri, Indonesia’s biggest lender by assets, has set a price for its rights issue, valuing its shares at between Rp 4,000 and Rp 6,150, a recent statement shows.

In a short prospectus released Tuesday, the state-owned lender said it would offer 2.34 billion new shares at the beginning of February next year, valuing the rights offer at between Rp 9.3 and Rp 14.4 trillion — the biggest in Indonesia’s stock market history.

“Funds obtained from the rights offer proceeds will be fully used to strengthen the company's capitalization structure, which will be used to expand the company’s business and loan growth,” Mandiri said in the statement.

State-owned Mandiri Sekuritas and Danareksa Sekuritas have been appointed as standby buyers for the shares.

For each 8,985 existing Mandiri shares held on Feb. 10, shareholders will have rights to buy 1,000 new shares offered in the rights issue.

Mandiri will begin offering the shares in a bookbuilding process targeting local and foreign investors in the second week of January, travelling to Singapore, Hong Kong, the US and the UK, Mandiri chief financial officer Pahala Mansury said previously. (est)