Displaying items by tag: Semen Indonesia
Semen Indonesia’s profit falls due to fuel costs
01 May 2018Indonesia: Semen Indonesia’s net profit fell by 45% year-on-year to US$29.6m in the first quarter of 2018 from US$54m in the same period in 2017. It blamed the decline on fuel costs and rising debt payments, according to Reuters. Despite this, its sales revenue rose by 3.4% to US$476m from US$460m. Its cement sales volumes rose by 4% to 6.79Mt from 6.53Mt. The majority of this rise came from exports, which increased by 44.9% to 0.6Mt from 0.41Mt.
Indonesia: Semen Indonesia forecasts that domestic cement consumption will grow at a rate of 5 – 7% year-on-year in 2018, a lower rate than the level of 7.8% recorded for the first 11 months of 2017. Semen Indonesia corporate secretary Agung Wiharto said that the prediction was based on continued demand for cement from government infrastructure projects, according to the Jakarta Post. The company also took other factors - such as inflation, political stability and market confidence - into account in its sales projection. Indocement has also forecast a cement consumption growth rate of 5 – 6% in 2018. Both companies reported reduced earnings in the third quarter of 2017.
Semen Indonesia grows cement sales volumes as profits suffer
11 December 2017Indonesia: Semen Indonesia’s cement sales volumes rose by 8.1% year-on-year to 25.8Mt in the first 10 months of 2017. However, despite this the company’s profit declined due to falling prices, according to the Antara news agency. In addition production costs have risen due to higher electricity and coal prices.
Semen Indonesia suspends construction of Aceh plant
18 October 2017Indonesia: Semen Indonesia Aceh has suspended construction of its Pidie cement plant in Aceh due to a land dispute. Local community leaders say they support the project but are calling for the disagreement to be resolved first to avoid problems later on, according to the Antara news agency. Locals are also waiting for environmental impact report requirements to be met. Previously, Semen Indonesia Aceh halted a plant construction project in Laweung until land issues were resolved.
Hendi Prio Santoso appointed as president director of Semen Indonesia
27 September 2017Indonesia: Hendi Prio Santoso has been appointed as the president director of Semen Indonesia following his approval at a shareholders meeting. He succeeds Rizkan Chandra, who died in July 2017. Santoso is the former president director of state-owned gas company Perusahaan Gas Negara (PGN).
Krakatau Semen Indonesia launches slag-grinding plant
04 September 2017Indonesia: Krakatau Semen Indonesia (KSI), a joint venture between Krakatau Steel and Semen Indonesia, has launched a slag grinding plant in Cilegon, Banten. The 0.69Mt/yr ground granulated blast furnace slag (GGBFS) plant had an investment of US$31m, according to the Jakarta Post newspaper. Construction at the site started in 2014. Both the companies running the venture are state owned and they own an equal share each in the plant.
Indonesia: Minister of State-Owned Enterprises (SOE) Rini Soemarno has launched an affordable cement programme for Papua province targeted at its mountainous regions. The scheme is being run with five state-owned companies: Semen Indonesia, Pelni, Pelindo IV, Perusahaan Perdagangan Indonesia and Pos Indonesia. The scheme has been introduced due to poor transport links to and within the province in conjunction with improvements to road and port infrastructure, according to the Antara news agency. Cement under the scheme is imported by Semen Indonesia to the port at Timika before being distributed by road and aeroplane.
Indonesia: Rizkan Chandra, the President Director of Semen Indonesia, has died at the age of 48 years. He was appointed to the post in May 2016 for the period 2016 – 2020, according to the Jakarta Globe newspaper. Rizkan, who graduated from the Bandung Institute of Technology (ITB) in 1987, was previously appointed as strategy and business development director at the cement producer. He was also a former network and information technology director at Telekomunikasi Indonesia (Telkom).
Darmawan Junaidi will be the acting president director for Semen Indonesia. He has previously served as finance director for the company.
Indonesia: Semen Indonesia increased its cement sales by 10% year-on-year to 11.5Mt in the first five months of 2017. The cement producer was pleased with the result, despite competition concerns and lower than expected government infrastructure spending, according to the Antara news agency. Company communications chief Sigit Wahono added that the company controls about 43% of the local market and this has remained stable since 2012. At present its market depends on bagged residential retail sales.
Indonesia: Semen Indonesia plans to start commercial operation of its Rembang cement plant in the first half of 2017. Rizkan Chandra, the chief executive, of the state-owned cement producer revealed the company’s plans, despite protests on environmental grounds by local residents, after a meeting with presidential staff in Jakarta, according to the Antara news agency. However the plant is waiting for environmental clearance that is expected to be released in April 2017. Previously a government minister said that the President Joko Widodo was expected to inaugurate the plant in mid-2017. However, in October 2016 the Supreme Court ruled in favour of the protesters and ordered Semen Indonesia to cease its activities.