Director of Asian Natural Lay tells Stanislaus company revenue target for 2009 reached Rp600 billion, but who realized in the amount, which is Rp151 billion.

“Because the price of tin dropped the financing facility for exports of these commodities are not in use. Previously, we have the facility of ASEI subsidiary based in Singapore, “he said today.

According to the Stanislaus, the company this year will focus on the coal business, and has obtained a loan commitment of U.S. $ 10 million from Singapore’s financial institutions.

Last month, the company recently signed contracts for coal sales to Siridi Sai Goodearth International Pte Ltd.. In this contract, the company should be supplying coal to the company by 50,000 tons per month, with gains from the sale of U.S. $ 3 million per month.

Of these contracts, companies get coal revenue of U.S. $ 36 million.

Company’s revenue this year set to reach Rp1 trillion, of which targeted a net profit of Rp50 billion. The amount is experienced jumps from last year recorded an income of only Rp151 billion

Financing Companies Association of Indonesia (APPI) is still projected growth of the company’s assets this year multifinance Rp200 trillion.

Achievement considering the prediction of assets in November last year reached Rp173 trillion, approaching the highest levels that occurred in November 2008.

Chairman APPI Wiwie Kurnia said that multifinance asset growth beyond expectations because of slowing pertubuhannya had predicted earlier in the year.

However, after the semester II/2009, penetration and business expansion multifinance high enough along with a recovering economy that continues to increase assets. APPI December last year predicted could be closed Rp170-Rp175 trillion trillion.

“We still maintain our predictions about the asset multifinance because it strongly supports the economic conditions right now. Target assets of Rp200 trillion,” he told the press in Jakarta today.

Data Bank Indonesia as of November last year showed multifinance assets rose to Rp173, October 5 trillion of which only Rp168, 9 billion. In 2008, assets multifinance reached its highest level in November of Rp174, 1 trillion.

According to him, the current financial industry optimistic at this year along with national economic expectations are also growing.

Suryainti Permata Tbk PT proposes cutting debt by 40% of the principal debt to the creditors Oversign BV
Director Henry J. Suryainti Permata Gunawan through exchange of information disclosure today revealed the company also proposed exemption of interest payments on certain days.
“The company also denied the existence of additional collateral. Until now there has been no response from the creditors of these proposals, “he said today.
He expressed that if this restructuring scheme against the company and its shareholders, to avoid greater losses, shareholders are willing to hand over assets for debt repayment.
The total value of debt acquired by Suryainti Gems of Oversign BV worth U.S. $ 70 million. He admitted the company could not pay the interest obligations due on January 20 because of the weakening Suryainti performance.
Oversign B.V. has also sent notice of default against the company on January 19. “The global financial crisis has pushed the company’s performance and yet no sign of recovery for the property with upper middle class segment.”
Henry revealed the company actually has proposed debt restructuring scheme but declined. In fact, he continued, this scheme considers the high cost of loan arrangement worth U.S. $ 3.5 million, Biya interest U.S. $ 20 million, and investment inefficiency costs of U.S. $ 16.5 million

Oversea-Chinese Banking Corporation Limited (OCBC Bank) officially completed the acquisition of ING Asia Private Bank Limited and its subsidiaries (IAPB) based in Singapore with an investment of around U.S. $ 1.45 million or $ 2.02 Sin million.

With the completion of the acquisition process, the IAPB now renamed Bank of Singapore Limited (the Bank of Singapore), officially became a subsidiary wholly owned by OCBC Bank.

Bank of Singapore will be led by Renato (Bing) de Guzman, who previously also served as CEO IAPB. All the Private Banking business activities IAPB and OCBC Bank will be merged and operate as Bank of Singapore.

Thus the Bank of Singapore will become a leading Private Banking in Asia which has more than 7.000 customers with total customer funds managed some U.S. $ 23 billion. This reinforces a unique position as the only Private Banking, headquartered in Singapore.

David Conner, CEO of OCBC Bank said the success of this acquisition marks an important milestone in our private banking activities. With increasing scale, will bring significant benefits both for customers IAPB Private Banking and OCBC.

“We are committed to continue investing in Private Banking business and provide services which better meet the needs of our customer’s high networth,” said David Conner, CEO of OCBC Bank in a press release yesterday.

Renato (Bing) de Guzman, CEO of Bank of Singapore, said he believed Bank of Singapore will continue to grow and reach a huge market today or in the future.

“We will always focus to attract some of the best Private Banking employees of existing and new to achieve long-term growth and professional development, as part of the OCBC Group.”

OCBC Bank, founded in 1912 and is a financial group by assets, the second largest in Southeast Asia. OCBC Bank have a long-term credit ratings of Aa1 from Moody’s.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and China. Having a network of more than 490 branches and representative offices in 15 countries and regions, including 390 branches and offices in Indonesia operated by OCBC Bank NISP as subsidiaries.

OCBC Bank’s subsidiary engaged in the Great Eastern Insurance Holdings, while other subsidiaries engaged in asset management services, Lion Global Investors, is one of the largest asset management companies in Southeast Asia.

new Credit distributed in China until January 29 to reach 1.6 trillion yuan (U.S. $ 234 billion).

The report, written by the Economic Information Daily said Industrial & Commercial Bank of China Ltd. distributed more than 170 billion yuan, up by January 29. The news was cited by Xinhua News Agency without naming its source.

Bank of China Ltd. to distribute credit more than 160 billion yuan, Agricultural Bank of China about 150 billion yuan, and China Construction Bank Corp., nearly 108 billion yuan.

The newspaper also said the Bank of China credit target this year to 600 billion yuan and China Construction Bank lending rate hit 750 billion yuan.

rupiah weakened again against the dollar in trading in the spot market this morning, down 0.50% or Rp47 to Rp9.400 level, increasingly approaching Rp9.500.

In the last week, the rupiah closed at Rp9.353 level of U.S. $ 1. Mega Capital Indonesia recorded during the last week the rupiah weakened against the dollar at 9345 levels.

Based on Bloomberg monitoring until 9:07 pm, the rupiah in the spot market opened at 9360 levels and then move to the 9358-9403 range.

Central Bureau of Statistics will announce the January inflation data and the data export and import trade in office, this afternoon. Bloomberg estimated the median inflation rate last month’s estimate of 0.63%, higher than the December 2009 inflation rate of 0.33%.

On an annual basis, inflation in January projected for 3.51%, the highest rise since June after the December 2009 was recorded at 2.78%. Predicted core inflation of 4.42% from 4.28% previously. Economists and analysts predict exports also rose 23.9% in December compared with the previous year.

At the same time, yields on government securities that will mature in 2020 were recorded ebesar s 9.776%. These bonds have a coupon 11%.

PT Batavia Prosperindo Asset manajamen (Batavia Asset manajamen) target of Rp200 billion in funds under management – Rp300 billion from mutual funds are a mixture of Si Dana Batavia CPI for a year. Mutual fund companies will be marketed next month.

Managing Director of Asset Batavia manajamen Lilis Setiadi said the product is reserved for employees of a private company and the retirees.

“Essentially we’ve got an investment commitment of Rp 50 billion in pension funds of the institution as an early stage, which has about 7,000 members,” he told the press today. These products use the services of Deutsche Bank AG as custodian.

He explained the composition of the investment capital market investment products is at 20% – 79% each will be placed on the stock and money markets.

Francine explained the company was trying to raise funds from the position kelolaannya around Rp7, 32 trillion at the end of last year to Rp9, 5 trillion at the end of this year. Batavia Asset Management, he added, is also intended to improve the position of funds under management to Rp12, 5 billion in 2011.

He tells us that the company plans to increase the seller’s agent and working with new partners to invest funds through Batavia Asset Management.

At present, he added, companies can raise funds target of Rp500 billion under management from new cooperation. According to him, cooperation was explored with three foreign banks and two insurance companies.

Yes they will charge for their service,fees are usually spread out of the first 18 months of the program, and come in two parts – Retainer Fees and Service Fees.  In total they amount will be 15 percent of the amount that you owe.  The first three payments to the program mostly go to covering the Retainer fees, and the Service fees are paid over the 15 months thereafter. But of course it worth, since they will help you get credit card debt consolidation.

They will negotiate for you with the credit card companies so you can pay less than you owe. All this things will arrange in credit card settlement program. In the mean time what you need to do is make payment as your monthly planned.

Failure to ensure the success of Dubai’s debt restructuring plan to investors caused the stock benchmark index in the region plunged and forced some companies to cut the sale of shares.

Dubai Financial Market Index fell 15% General since December 14. The decline was triggered by the bailout of Abu Dhabi to Dubai World in the day. Bonds in the field of state-owned Dubai property Nakheel PJSC fell 55.75 cents against the U.S. dollar from 67.5 cents.

Meanwhile, credit default swaps Dubai government debt traded at 493 basis points, the highest rate since the Abu Dhabi to inject funds to Dubai World. Dubai World is negotiating scheduling of debt worth U.S. $ 22 billion.

Companies that fail to offer in a meeting with creditors in December, but rejected the possibility that negotiations will not meet consensus.

Meanwhile, on January 17, Dubai Electricity & Water Authority said that delaying the sale of bonds worth U.S. $ 1.5 billion as the cost of borrowing is too high.

“The lack of clarification on the restructuring plan of Dubai World creates a burden of uncertainty the market,” said Rami Sidani, Head of Investment Management Ltd. Schroder Investment in the Middle East region and North Africa.

Schroder Investment Management Ltd. manages investments for a total value of U.S. $ 230 billion globally. Dubai Sidani added yet out of trouble and will continue to strive to overcome the burden of debt.

The price of gold in the spot market this morning was recorded at the position of U.S. $ 1081.89 per ounce, down from the level last weekend at U.S. $ 1083.10 per ounce.

Meanwhile, from Singapore reported contract price of gold rose triggered speculation decreased to the lowest level in 3 months attract more investors.

Gold for immediate delivery rose 0.3% to U.S. $ 1084.36 per ounce at 8:21 pm in Singapore. Precious metal prices touched the lowest level since 3 November 2009 at U.S. $ 1073.85 per ounce on January 28. February gold contract on the position of moving thin U.S. $ 1084.30 per ounce.

Gold usually moves opposite to the U.S. dollar, in which the precious metal declined in the second month as the dollar rallied 2% against six major currencies basketball.

The dollar traded near the highest position of 7 months against the euro as an indication of the world’s largest economy gained momentum to raise the demand for U.S. assets.

U.S. dollar at the level of U.S. $ 1.3864 per euro in Tokyo from U.S. $ 1.3863 in New York on 29 January.

Among the other precious metals, silver rose 0.3% to U.S. $ 16.2575 per ounce, platinum rose 0.5% to be U.S. $ 1512.50 per ounce and palladium thin shifted to U.S. $ 417.5 per ounce.