The Canadian government plans to increase its investments in Indonesia, particularly in South Sulawesi, marking 60 years of bilateral relations between the two countries.
The Canadian Embassy in Indonesia sent 11 Canadian businesspeople to South Sulawesi to learn about business opportunities in the province.
“We have brought 11 delegates from different companies because we want to advance cooperation between our two countries by adding to our investments, particularly in South Sulawesi,” the Canadian Embassy’s trade division chief, Richard Bale, said on Wednesday at the South Sulawesi governor’s official residence in Makassar.
Bale said that the businesspeople would stay in Makassar for two days to discuss cooperation opportunities in various sectors, such as mining, agriculture and education, at a business forum.
From 'Canada wants to boost its investments in Indonesia'
Andi Hajramurni and Sita W. Dewi. The Jakarta Post, Makassar/Jakarta - 02/02/2012
Pertamina EP announced on Wednesday that it had discovered a potential of 2,546 barrels per day (bpd) of oil and 2.75 million standard cubic feet per day (mmscfd) of gas coming from the Tiung Biru field on the border of Central and East Java.
The company’s president director Syamsu Alam expected the discovery to help the country achieve its production target this year of 950,000 bpd. “We’re happy that the discovery at the field is quite high. I hope it can boost optimism over exploration activities in the country,” he said.
The Tiung Biru field is located 15 kilometers southeast of Cepu in Central Java and 28 kilometers northeast of Bojonegoro in East Java. Tiung Biru is located in the same area as the Jambaran field, which is operated by Mobil Cepu Limited, a subsidiary of US-based ExxonMobil.
From 'Pertamina EP discovers oil, gas in Tiung Biru field'
Rangga D. Fadillah. The Jakarta Post, Jakarta - 02/02/2012
PT Bank Negara Indonesia Tbk. (BNI), Indonesia’s fourth-largest lender, says signals of overexposure in automotive loans have refrained it from expanding in the sector, but that consumer loans would still grow by 25 percent this year.
Automotive lending at the state-owned bank grew 5 percent in 2011 from a year ago, far lower than the 32 to 33 percent overall consumer loan growth, BNI director of retail and consumer banking Darmadi Sutanto told reporters after a partnership announcement with Singapore Airlines on Wednesday.
“Demand is strong but we don’t want to be too aggressive. The growth of [auto loans] has been somewhat too high, so we didn’t add facility lines to multi finances,” he said.
Multi finances borrow from banks to fund their financing needs. Darmadi said BNI focuses on new car financing while multi finances take the higher risks of all new and used cars and motorcycles. An overexposure in lending poses risks of bad loans.
From 'BNI puts brakes on automotive loans'
Esther Samboh. The Jakarta Post, Jakarta - 02/02/2012
