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            [post_content] => Jakarta. Astra International's annual shareholders meeting in Jakarta on Thursday (20/04) approved dividend payouts of Rp 6.8 trillion — $510 million — and the appointment of a new director and a commissioner, the company said in a statement on the same day.

The dividend payouts represent 44.87 percent of the company's profit last year and equal to a return of Rp 168 per share for investors. Astra enjoyed a 4.8 percent increase in its net income last year, as rising car sales and improving global commodity prices made up for a slump in the company's bank and heavy machinery businesses.

The company's profit last year stood at Rp 15.2 trillion, up from Rp 14.5 trillion in 2015.

Astra had already paid an interim dividend on Oct. 21, leaving the remaining Rp 113 per share in dividend to be paid to investors on May 19.

The company will keep the remaining Rp 8.35 trillion from its net income as retained earnings.

The shareholders also approved the appointment of a new director to sit on the company's board of directors: Indonesian national Henry Tanoto, currently the Vice President Director of Toyota Astra Motor, a joint venture between Astra and Toyota.

Henry has been in his current position since 2015. Starting his career in 1995 as a staff at Toyota Astra Motor's National Service Division, Henry has held various important positions, including the chief of marketing for Toyota Sales Operation at Astra International.

Shareholders also appointed a new independent commissioner to sit on its board of commissioners, Japanese national Yasutoshi Sugimoto, currently the general manager of Singapore-based Toyota Motor Asia Pacific, a subsidiary of Japanese automotive giant Toyota Motor Corporation.

The following is the approved board of directors and commissioners based on Thursday's shareholders meeting:

Board of Directors

President Director: Prijono Sugiarto

Independent Director: Bambang Widjanarko Santoso

Director: Widya Wiryawan

Director: Johannes Loman

Director: Suparno Djasmin

Director: Djony Bunarto Tjondro

Director: Chiew Sin Cheok

Director: Gidion Hasan

Director: Henry Tanoto (new)

Board of Commissioners:

President Commissioner: Budi Setiadharma

Independent Commissioner: Sidharta Utama

Independent Commissioner: Mari Elka Pangestu

Independent Commissioner: Muhamad Chatib Basri

Independent Commissioner: Yasutoshi Sugimoto (new)

Commissioner: Anthony John Liddell Nightingale

Commissioner: Benjamin William Keswick

Commissioner: Mark Spencer Greenberg

Commissioner: Jonathan Chang

Commissioner: David Alexander Newbigging

Commissioner: John Raymond Witt

Commissioner: Adrian Teng Wei Ann
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            [post_content] => Jakarta. Shareholders of Astra Agro Lestari, an agriculture unit of diversified conglomerate Astra International, approved a final dividend payment of Rp 900 billion ($67.7 million), or Rp 469 per share.

"The dividend will be distributed on May 12 to the shareholders listed as the company's shareholders on April 25," the company announced in a filing to the Indonesia Stock Exchange (IDX) on Thursday (13/04).

The dividend is equivalent to 45 percent of the company's total net income of Rp 2.1 trillion last year, which nearly tripled from the preceding year.

Astra Agro also appointed new directors and commissioners.

Santosa was appointed as president director to replace Widya Wiryawan, who now serves as president commissioner.

Djony Bunarto Tjondro was appointed as a commissioner, replacing Johannes Loman. The company also appointed Angky Utarya as independent commissioner, replacing Anugerah Pekerti

Bambang Wijanarko, Handoko Pranoto, Rujito Purnomo and M. Hadi Sugeng were appointed as directors to replace Bambang Palgoenadi, Juddy Arianto, Joko Supriyono and Jamal Abdul Nassar.

Mario C. S. Gultom replaces Rudy as independent director.

All other directors and commissioners remain in their posts.
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            [post_content] => Jakarta. Acset Indonusa, a contractor under the diversified conglomerate Astra International, has increased its new contract target by two thirds this year after bagging a stellar amount of infrastructure projects in just the first three months of this year.

The company now eyes Rp 7.5 trillion in new contracts this year, up from its initial target of Rp 4.5 trillion, company executives said on Monday (10/04). Acset booked Rp 6.9 trillion worth of new contracts from January to March, almost triple the Rp 2.4 trillion it earned in the same period last year.

Acset Indonusa's newly appointed president director Jeffrey Gunadi Chandrawijaya said, "We're maintaining a realistic growth this year. Our limited human resources was one of our considerations not to set an ambitious target."

The company secured three major infrastructure projects in the first quarter: the Jakarta-Cikampek II elevated toll road project, Terbanggi Besar-Kayu Agung toll road project in Palembang, South Sumatra — part of the Trans Sumatra highway project — and a soil improvement project in Central Java.

Acset is teaming up with state-owned construction company Waskita Karya to build the Jakarta-Cikampek II elevated toll road, worth a total of Rp 13.5 trillion. The 38.6-kilometer toll road — expected to be complete in 24 months — is being built to reduce traffic congestion on the existing Jakarta-Cikampek toll road.

Waskita currently has a 51 percent stake in the toll road with Acset controlling the remaining 49 percent.

Jeffrey said Acset will soon bid for toll road projects being constructed by sister company Astratel Nusantara. Astratel is currently working on the new Kunciran-Serpong and Serpong-Balaraja toll roads in Banten. "Even though we're under the same holding company, it's not quite a done deal that we'll win the projects," Jeffry added.

On Monday, Acset shareholders approved a dividend payment of Rp 39 per share or a total of Rp 27.3 billion, equivalent to about 40 percent of the company's Rp 68 billion net income last year.

"The dividend will be paid a month after the general shareholders meeting to individuals and companies listed as Acset shareholders on May 9," Acset Indonusa Corporate Secretary Maria Cesillia Hapsari said.

The shareholders also approved the appointment of new commissioners and directors at the company.

Iman Santosa was appointed as commissioner, replacing Bambang Widjanarko Santoso. Tjandrawati Waas was appointed as independent commissioner, replacing Robert Mulyono.

Acset also appointed Jeffrey Gunadi Chandrawijaya as president director, replacing Tan Tiam Seng Ronnie who was given the vice president director seat. Ellyjawati was also appointed as director, replacing Nilawati Irjani.

Meanwhile, Yohanes Eka Prayuda was appointed as director, replacing Herjadi Budiman who now serves as an independent director replacing Wiltarsa Halim.

Other directors and commissioners remained on their posts, including Gidion Hasan, Acset commissioner and also president director of Astra's heavy machinery unit, United Tractors.
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            [post_content] => Jakarta. Shareholders of Bank Permata, a financial unit of diversified conglomerate Astra International, approved the appointment of new commissioners and directors during a general meeting on Wednesday (29/03).

Sebastian Ramon Arcuri was appointed as president commissioner, replacing Cheng Teck Lim. Arcuri has served as a Bank Permata commissioner since 2015.

The company also appointed Suparno Djasmin as vice president commissioner, replacing Gunawan Geniusahardja, who has been in the company since 2008.

Suparno previously served as president director of Astra International.

Ian Charles Anderson was appointed as a new commissioner, replacing Arcuri. Anderson previously held the position of regional chief risk officer for Asean and South Asia at Standard Chartered in Singapore.

The bank also appointed Lea Setianti Kusumawijaya as chief financial officer, replacing Sandeep Kumar Jain, while Darwin Wibowo was appointed as wholesale director, replacing Anita Siswadi.

Lea Setianti previously served as chief financial officer at Standard Chartered, while Darwin was chief executive of microlender Bank Andara.

The appointment of directors and commissioners will be effective immediately upon approval by the banking regulator.

"Through this changes in our board of commissioner and directors, we believe the company can contribute more to the country's economy," Bank Permata president director Ridha Wirakusumah said in a statement.

"We gladly welcome Bank Permata's new commissioners and directors as their financial experience would be very useful for the bank's advancement," outgoing president commissioner Lim said.
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            [post_content] => Jakarta. Bank Permata, a joint venture between British multinational bank Standard Chartered Bank and Indonesian conglomerate Astra International, has secured an approval from its shareholders for a Rp 3 trillion — $225 million — rights issue in June.

This is the second half of a two-part rights issue which began in December last year. Bank Permata will use the proceeds from June's rights issue to beef up its capital, Ridha D.M. Wirakusumah, Permata's president director said on Wednesday (29/03).

Ridha expects the lender's capital adequacy ratio will hover between 16 and 17 percent this year, up from 15.6 percent at the end of last year. Capital adequacy ratio measures a bank's capital against its risk-weighted assets, reflecting the lender's ability to absorb losses from bad debts.

"Our main shareholders have committed to exercise their rights and will be our stand-by buyers," Ridha said.

Standard Chartered and Astra each has a 44.5 percent stake in Bank Permata. In this rights issue, the parent companies have the right to buy new stakes in Permata in proportion to their current ownership and to buy the remainder of the new shares if other shareholders decide to pass their rights.

Permata is under Indonesia's Financial Services Authority's (OJK) spotlight after the it reported a gross non-performing loans of 8.8 percent of its total loans last year as several big debtors reneged on their payment and total loan outstanding at the bank shrank.

Under Bank Indonesia regulation, all Indonesian lenders must keep their gross NPL at below 5 percent.

Bad debts have also eaten into Bank Permata's profits, as it now has to set up more capital — money which otherwise can be used to back more lending — to cover the bad debts.

Ridha is nevertheless still optimistic that Permata can turn around its performance this year, targeting a 2 percent growth in outstanding loans and a drop of 5 percent in the NPL.

The lender has also sold Rp 1.12 trillion in bad debts to a third-party collection agency to gain more profits, Ridha said.
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            [post_content] => Jakarta. Indonesian diversified conglomerate Astra International booked a 4.8 percent increase in net income last year, as rising car sales and improving global commodity prices made up for a slump in the company's bank and heavy machinery businesses.

Astra booked Rp 15.2 trillion ($1.1 billion) in net income last year, up from Rp 14.5 trillion in 2015. Revenue, however, fell by 2 percent to Rp 181.1 trillion.

"The Astra Group's performance in 2016 was quite satisfying, thanks to a stable business growth," Prijono Sugiarto, the president director of Astra said in a statement on Monday (27/02). 

"Prospects are positive this year, thanks to expected improvement in economic conditions and improving coal price in the international market," he added.

Auto business still the backbone


Most of Astra's net income comes from its automotive business unit, still its backbone after many years. Net income from this unit went up 23 percent to Rp 9.2 trillion last year.

Astra is the country's biggest car distributor and last year posted a 16 percent increase in car sales to 591,000 units, which boosted the company's market share to 56 percent by the end of last year from 50 percent in 2015.

The conglomerate introduced at least 14 new car models and nine revamped models throughout last year. Indonesia saw its total car sales rose 5 percent to 1.1 million units in 2016.

Astra Otoparts, the conglomerate's auto parts maker, booked a 31 percent increase in net income to Rp 418 billion last year.

Astra's sales figure for motorcycles meanwhile fell 2 percent last year to 4.4 million units. But the company claimed its market share actually grew to 74 percent from 69 percent in 2015, at a time when the country posted an 8 percent decline in sales of motorcycles nationwide to 5.9 million units.

Commodity thrives thanks to palm oil


The company's agribusiness division saw its net income jump a whopping 225 percent to Rp 1.6 trillion. Most of it came from subsidiary Astra Agro Lestari, whose income jumped 223 percent to Rp 2 trillion thanks to improving global crude palm oil price.

United Tractors, Astra's heavy equipment subsidiary, still booked a profit but at Rp 5 trillion it was 22 percent lower than profit in 2015 as the unit was forced to cope with exchange rate losses and lower coal prices.

Banks struggle


Astra's net income from its financial businesses plunged 78 percent to Rp 789 billion, dragged down by poor performance of its commercial lender subsidiary Bank Permata.

Bank Permata booked Rp 6.5 trillion in net losses last year, a huge swing down from a profit of Rp 247 billion in 2015. Higher non-performing loans (NPL) — mostly loans in manufacturing, trading, transport and telecommunication sectors — has been attributed with the downturn.

Astra's automotive financing firms Federal International Finance, Toyota Astra Financial Services and Asuransi Astra Buana were in the black, but still could not offset Bank Permata's slump.

Other units steady


Astra's infrastructure and logistics units performed well, posting a 35 percent increase in net income thanks to increased traffic in its toll road and sales from its drinking water utility firm PAM Lyonnaise Jaya. 

Net income at Astra's new property companies fell by more than a half in line with limited revaluation gain from its ongoing office and apartments projects in South and East Jakarta.

 

 

 
            [post_title] => Astra's '16 Profit Up on Bigger Auto Market Share, Improving Commodity Prices
            [post_excerpt] => Indonesian diversified conglomerate Astra International booked 4.8 percent increase in net income last year, as rising car sales and improving global commodity price made up for slump in the company's bank and heavy machinery business.
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            [post_content] => Jakarta. Indonesian diversified conglomerate Astra International is set to increase its capital expenditure by 10.2 percent this year to beef up its machinery and mining business units, its chief said on Friday (24/02).

Astra International president director Prijono Sugiarto said the company plans to increase capital expenditure to Rp 15 trillion ($1.12 billion) this year from Rp 13.6 trillion previously.

"We are going to use internal cash to fund our capex as we have strong internal funding," Prijono said on the sidelines of Astra's 60th anniversary commemoration.

The conglomerate will allocate between Rp 5 trillion and Rp 6 trillion for its heavy machinery and mining business unit United Tractors, while Rp 2.2 trillion will be allocated to its agriculture business unit, Astra Agro Lestari.

The company's information technology unit, Astra Graphia, will receive between Rp 1.5 trillion and Rp 2 trillion, while the remainder of the capital expenditure will be allocated to its infrastructure unit, Astratel Nusantara, especially to complete the Kertosono-Mojokerto and Kunciran-Serpong toll road projects in East Java and Banten, respectively

The 40.5-kilometer Kertosono-Mojokerto toll road comprises four sections. The first has been operational since 2014, while the third became operational in December last year. The second and fourth sections are targeted to become operational this year. It forms part of the Trans-Java toll road network.

Astratel Nusantara meanwhile, is currently constructing the 11.2-km Kunciran-Serpong toll road, which forms part of Jakarta's Outer Ring Road (JORR 2) that connects the capital with surrounding areas.

"We will gradually allocate capex for the Kunciran-Serpong toll road project, even though it has yet to be finished this year," Prijono said.

Astra International previously announced that it would allocate Rp 6.5 trillion in capital expenditure to its infrastructure and property subsidiaries this year. These subsidiaries contributed less than 10 percent of the total company's revenues.

Astra's shares, which trade under the ASII stock ticker, closed 0.93 percent higher at Rp 8,125 on Friday, compared to the 0.24 percent gain on the benchmark index.
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            [post_content] => Jakarta. Indonesian conglomerate Astra International will not sell its stake in lender Bank Permata, the company's top executive said on Friday (24/02).

Astra and Standard Chartered each owned 45 percent of Permata as of Dec. 31, according to Thomson Reuters data.

Last month, Indonesian tycoon Tahir told Reuters he was interested in buying all of Permata and merging it with Bank Mayapada Internasional, starting with the stake held by Asia-focused Standard Chartered.

"We will not get out of Permata. As a shareholder, we have mid-term and long-term plans," Astra President Director Prijono Sugiarto told reporters.

Asked for a response to Sugiarto's comment, Tahir said he may look for another bank to acquire. He declined to give details.

Reuters
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A tribunal by the Indonesian Business Competition Supervisory Commission has ruled that Yamaha Indonesia Motor Manufacturing and Astra Honda Motor had agreed to set prices for automatic scooters with an engine capacity of 110 to 125 cubic centimeters.

[post_title] => KPPU Panel Finds Honda & Yamaha Guilty of Price-Fixing [post_excerpt] => A tribunal by the Indonesian Business Competition Supervisory Commission has ruled that Yamaha Indonesia Motor Manufacturing and Astra Honda Motor had agreed to set prices for automatic scooters with an engine capacity of 110 to 125 cubic centimeters. [post_parent] => 0 [guid] => http://jakartaglobe.id/?p=636132 [post_type] => post [post_date_gmt] => 2017-02-22 07:19:05 [post_date] => 2017-02-22 14:19:05 [post_name] => kppu-panel-finds-honda-yamaha-guilty-price-fixing [author] => Jakarta Globe News Channel [author_permalink] => /author/jakarta-globe-news-channel/ [category] => Array ( [0] => stdClass Object ( [term_id] => 39261 [name] => Business & Economy [slug] => business-tv [parent] => 14435 [term_taxonomy_id] => 39348 [permalink] => news-channel/business-tv ) ) [permalink] => /business-tv/kppu-panel-finds-honda-yamaha-guilty-price-fixing/ [meta] => stdClass Object ( [_edit_lock] => 1487747862:255 [_edit_last] => 255 [post_type_override] => NA [author] => Jakarta Globe News Channel [post_writter_override] => -1 [post_source_override] => 255 [news_type] => National [news_source] => B1 ENGLISH [iframe] => https://www.youtube.com/watch?v=QtqGBdedrDA [jg_post_template] => 2col [featured] => false [_yoast_wpseo_focuskw] => Honda Yamaha price-fixing [_yoast_wpseo_title] => KPPU Panel Finds Honda & Yamaha Guilty of Price-Fixing [_yoast_wpseo_metadesc] => A tribunal by the Indonesian Business Competition Supervisory Commission has ruled that Yamaha Indonesia Motor Manufacturing and Astra Honda Motor had agreed to set prices for automatic scooters with an engine capacity of 110 to 125 cubic centimeters. [jglobeShrinker] => http://jglo.be/jIwM [_yoast_wpseo_linkdex] => 36 [video_duration] => 00:00 ) [user_author] => Margarita Putri [author_by_line] => Jakarta Globe News Channel [attachment] => stdClass Object ( [hqdefault] => http://i1.ytimg.com/vi/QtqGBdedrDA/mqdefault.jpg [mqdefault] => http://i1.ytimg.com/vi/QtqGBdedrDA/mqdefault.jpg [file] => http://i1.ytimg.com/vi/QtqGBdedrDA/mqdefault.jpg [sizes] => stdClass Object ( [thumbnail] => stdClass Object ( [file] => http://i1.ytimg.com/vi/QtqGBdedrDA/mqdefault.jpg ) [medium] => stdClass Object ( [file] => http://i1.ytimg.com/vi/QtqGBdedrDA/mqdefault.jpg ) [large] => stdClass Object ( [file] => http://i1.ytimg.com/vi/QtqGBdedrDA/mqdefault.jpg ) ) [image_meta] => stdClass Object ( [caption] => ) ) ) )