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KOSSANs first half net profit ended June 30 of RM45.6mil is only 43% of consensus financial year 2012 estimates. The nine new production lines (additional capacity of 1.25 billion pieces) which we had initially expected to start production in the second quarterof the year, were only commissioned in July.
JAKARTA: Indonesia will ban palm oil plantations and mining firms from using subsidised fuel from September 1, an official at the agriculture ministry said on Thursday, in a bid to reduce the strain on the country's budget.
MOSCOW: Bumi Plc, the coal mining group controlled by Indonesian investors including the influential Bakrie family, launched an urgent investigation into potential financial irregularities at its Indonesian operations, sending its shares down more than 30%.
JAKARTA: Indonesia's PT Berlian Laju Tanker, the world's third-largest chemical shipper, hopes to restructure its $1.9 billion debt by the year-end and will switch its focus to niche liquid chemical and gas transport, its founder and chairman said in a rare media interview.
CANBERRA: Australias government announced A$16.4bil (US$17bil) in new savings and tax measures over four years to protect a wafer-thin budget surplus for 2012/13, opening the way for the central bank to further cut interest rates as early as next month.
JAKARTA: Indonesias Bakrie family has agreed in principle to pay compensation to coal tycoon Samin Tan for his soured US$1bil investment in their joint stake in Bumi Plc, meaning a “divorce” in the partnership, executives at Tans firm said.
TOKYO (Reuters) - Japan may face a total nuclear shutdown in the summer for the second time since the March 2011 Fukushima disaster as the country's two operating reactors close for maintenance and tough new safety checks keep the rest of the fleet offline.
JAKARTA: The powerful Indonesian Bakrie family said it would start the process of divorcing from London-listed miner Bumi Plc after winning a crucial shareholder vote over bitter rival Nathaniel Rothschild.
SYDNEY (Reuters) - Six Greenpeace activists boarded a coal ship bound for South Korea near Australia's Great Barrier Reef on Wednesday, protesting against the expansion of the rich Australian coal industry and its impact on the World Heritage site.