Austindo to Merge with Pusako Agro

JAKARTA (Yosefardi) – Plantation company PT Austindo Nusantara Jaya Tbk (ANJT) will merge with PT Pusako Agro Makmur which engages in plantation and trading and processing crude palm oil (CPO) products. ANJT will be the surviving company. ANJT now fully controls...

Sugih Energy’s Profit Drops 86.2%

JAKARTA (Yosefardi) – PT Sugih Energy Tbk (SUGI) only booked net profit of US$4.64 million in 2014, dropped 86.2% from US$33.62 million in 2013. Revenues jumped by more then threefold to US$5.36 million from previous US$1.12 million, but operating profit dropped...

Medco Issues Bonds Sin$500 Million

JAKARTA (Yosefardi) – Oil and gas company PT Medco Energi Internasional Tbk (MEDC) has been offering first phase of bonds offering, starting Tuesday (April 14), worth Sin$500 million, equivelent Rp4.7 trillion, Investor Daily reported this morning. Medco has...

Martabe Gold Reserves 2.68 Million Ounces

HONG KONG (Yosefardi) – G-Resources Group Limited reported its Martabe Gold Mine has total Reserves of 2.68 million ounces of gold and 27.2 million ounces of silver, as at December 2014. Total resources are now 7.4 million ounces of gold and 70 million ounces of...

Medco Posts 14.2% Profit Decline

JAKARTA (Yosefardi) – Oil and gas company PT Medco Energi International Tbk (MEDC) posted profit attributable to equity of US$10.1 million in 2014, declined 19.6% from US$12.58 million in 2013. Net profit margin was 1.3% while operating profit margin reached...