Author: Hatman Bintang

Emeco on Alert for Mt Muro Mine Status

Emeco on Alert for Mt Muro Mine Status

Posted by | August 7, 2013 | , , | 0 |

BRISBANE (Yosefardi) – Emeco Holdings Ltd is on alert as Mt Muro Gold Mine, operated by Straits Resources Ltd, has been put on care and maintenance status. PT Indo Muro Kencana, subsidiary of Straits, is the primary customer of Emeco Indonesia, representing 28% of Emeco Indonesia’s fleet and 4% of Emeco Group’s global fleet. It had been anticipated that the mine would represent a significant source of revenue for Emeco Indonesia in fiscal year 2014. “In light of this development the Indonesian business is now expected to be loss making in the current financial year in the absence of...

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CBM Asia Places Second Tranche of C$5 Million Placement

Posted by | August 7, 2013 | , , | 0 |

VANCOUVER (Yosefardi) – CBM Asia confirms the first retail tranche of the C$5 million non-brokered private placement has been filled while the second tranche is being placed. A second retail tranche is currently being placed with indications of an additional C$1 million. Closing of the first retail tranche will take place immediately following the release of the Company’s pending operational update news release. The management tranche will be executed shortly thereafter. The pending operational update will be released once approved by project partners and will highlight: 1. Barito Basin: developement and potential changes to ExxonMobil Joint Venture 2. Sekayu PSC: test production flow results and recent completion of the CBMSE-01 core well 3. Kutai West PSC: upcoming production test The Offering is expected to close in several tranches including a management tranche of up to 10% of the total Offering, several retail tranches and an institutional...

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GB Clean Energy Appoints Former Macquarie President as Managing Director

Posted by | August 7, 2013 | , , | 0 |

SHANGHAI (Yosefardi) – Chinese coal upgrading technology provider, GB Clean Energy Ltd, has appointed Benjamin Wiley as Managing Director, focusing on building GBCE business in Indonesia. Prior to joining GBCE, Mr. Wiley served as a Managing Director and Head of the Metals and Mining sector in Asia for Standard Chartered Bank. He possesses over 25 years of investment banking experience in Indonesia and Asia. Mr. Wiley is a senior banker of international standing in Asia’s Metals and Mining Industry. He was the first senior member of Macquarie’s Corporate Advisory Resources Group in Asia and President Director of Macquarie Indonesia. He has advised a number of Indonesia’s leading coal mining companies on landmark...

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HeidelbergCement: Indonesian Materials Business is Growing

HeidelbergCement: Indonesian Materials Business is Growing

Posted by | August 6, 2013 | , , | 0 |

HEIDELBERG (Yosefardi) – HeidelbergCement AG, German multinational building materials company, confirms Indonesian materials business is recording robust general economic growth, in contrast with weakening economic dynamics in other emerging countries in Asia. Heidelberg said Indonesian domestic cement consumption increased 7.5% in the first six months of 2013 compared to the corresponding period of previous year. But in contrast, Indocement, where Heidelberg is majority shareholder, saw its domestic sales volumes rose by only 0.5%. Heidelberg reasoned the small growth due to the entry of new cement capacities into the market, associated with discounts, and increased imports. As a result, Indocement...

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Federal International Sells Indoenergi to Gunanusa

Posted by | August 6, 2013 | , , | 0 |

SINGAPORE (Yosefardi) – PT Fedsin Rekayasa Pratama, subsidiary of Federal International (2000) Ltd, has sold 16% shares in its Indonesian Ingersoll Rand air-compressors, PT Indoenergi Perkasa, to PT Gunanusa Utama Fabricators. The sale was completed for US$100,000. PT Indoenergi is incorporated in Indonesia and its sole operating activity was the sale and distribution of Ingersoll Rand air-compressors. PTIP has been inactive since January 2012. As Federal has 20,66% shares in PT Gunanusa, Indoenergi will cease to be an associated company of the Federal Group following the sale completion. Federal International (2000) Ltd, an investment holding company, engages in the design, manufacture, assembly, distribution, and provision of flowline control products and services for the oil and gas, petrochemical, and refinery...

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