“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, January 31, 2009

Semen Gresik cements expansion drive

The Jakarta Post, JAKARTA | Sat, 01/31/2009 9:54 AM  

Publicly listed PT Semen Gresik has named Credit Suisse Group AG to advise the country’s largest state enterprise cement producer on its overseas acquisition plans. 

President director Dwi Soetjipto told reporters Friday after a shareholders’ meeting that Credit Suisse would come up with a decision, over whether the company should go ahead with its overseas expansion plans, in about one month. 

“We have hired a financial advisor, which is Credit Suisse, to study this plan,” Dwi said.

The expansion plan, initially covering countries in Southeast Asia, is part of the company’s long-term strategy to explore potential overseas markets, having long been  the leader in domestic cement production with a 44 percent market share. 

Moreover, a boost in overseas demand would help make up for the slower growth in domestic demand this year due to the global economic downturn. 

Chalil Hassan, Semen Gresik finance director, said national demand would likely increase at the rate of 3 to 4 percent, less than around 7 percent last year, but still supported by the government’s intensified infrastructure projects. 

Semen Gresik produced 18.2 million tons of cement last year, 8.6 percent higher than 2007, with this year’s output likely to be about the same. Of last year’s output, only about 1 million tons were exported. 

Friday’s shareholders meeting approved the management’s plan to spend US$1.4 billion between 2009 and 2012 in capital expenditure, including the construction of two factories and a power plant. 

Of the total capital expenditure, around 30 percent would be spent this year, Dwi said. 

Dwi has said that out of around $371 million to be spent this year, the firm will use up to Rp 2.5 trillion ($227 million) of internal cash to finance expansion, as loans have become harder to come by in the current economic conditions. 

For 2009, other capital expenditure would be allocated to plant optimization ($49 million), capacity expansion ($203 million), power plants ($23 million), corporate restructuring ($10 million), equipment replacement ($20 million) and other items (47 million). 

The company is 51 percent owned by the government, 24.9 percent by the public and 24.1 percent by Blue Valley Holdings — a subsidiary of the Rajawali Group conglomerate. 

For 2008, the company may have booked a 20 percent increase in net profits from a year earlier. In the first nine months of last year, it booked Rp 1.9 trillion in net profits, more than the Rp 1.8 trillion posted in the whole of 2007.(fmb) 

Of $1.4 billion of investment, around 30 percent would be spent this year.

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