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President Susilo Bambang Yudhoyono said that immediately create a national economic committee that will assist the government to become an institution during the crisis and solutions as a partner when the normal economy.

“In this time I will form the national economic committee that will assist the government and in the near future we will validate the form and the national economic committee, which of them [members] of the chairman and members of the Chamber of Commerce,” he said when opening a seminar and exhibition on the theme of food supply World conducted by the Chamber of Commerce and Industry of Indonesia (Kadin) in Jakarta, today.

According to Yudhoyono, the precision of action could be the most effective solution to reduce the impact of the economic crisis that hit Indonesia. That, he continued, based on experience when facing a crisis in 1998 and 2008.

In this case, he continued, Indonesia failed to economic recovery in 1998, so the very long recovery time. Whereas in times of crisis in 2008, according to him, government is more prepared to deal with it so much faster recovery time.

“Even Indonesia is considered competent to handle crises 2008 – 2009 so that it can minimize the impact of the crisis on the Indonesian economy.”

In this case, the Head of State thanked the Chamber of Commerce and other elements that have been shoulder to shoulder with him trying to save the national economy from the crisis.

“We formed an integrated team [a crisis in 2008], governments, businesses, economists, and even some of the brothers accompanied me to attend G20 summit first in the midst of anxiety and panic at that time, it’s all history,” he said again

admin | Economy | 05 17th, 2010 | No Comments »

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

admin | Credit & Loan | 05 17th, 2010 | No Comments »

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.

admin | finance | 05 17th, 2010 | No Comments »

Japanese industrial production rose and the unemployment rate fell in December for a suggested continuation of the recovery.

Manufacturing production rose 2.2% from the previous month, less than economists projected. Ministry of Trade reported the unemployment rate fell to 5.1% from 5.2% previously.

Although the production of the rise and fall of unemployment to reduce the pressure back to the recession, but the appreciation of the yen and falling prices forced the policy makers continued stimulus package.

High-ranking Bank of Japan is concerned about the appreciation of the yen reached the strongest level in 14 years could affect business sentiment.

“The number of production and the unemployment rate was memkonfirmasi worst was over. However, improvement is still very small and would decrease the number of unemployed grew slowly,” said Masamichi Adachi, senior economist at JPMorgan Chase & Co. in Tokyo.

Another government report said household spending rose 2.1% during December from the previous year, higher than economists estimated. This performance contrasts with the previous week of data is recorded retail sales fell 0.3% from a year ago.

Economy increased the number of employees as many as 130,000 in December, the largest increase in 4 month. Sectors that provide the jobs of health, welfare, and education. While the manufacturing and retail sectors provide employment opportunities fewer.

“Unemployment is up slightly but I can not too optimistic because the whole number not more than 5%. Conditions are still many people who seek work but no lowongannya,” Yukio Hatoyama said the PM told the press today.

Japanese Diet approved the package yesterday economy 7.2 trillion yen (U.S. $ 80 billion) to boost national economic recovery from the worst recession.

“At least the worst was over. However, I am still worried about the unemployment rate back up to the highest level,” said Yoshiki Shinke, Senior economist Dai-Ichi Life Research Institute in Tokyo.

admin | Economy | 05 17th, 2010 | No Comments »