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IDX: Endowment to buy Freeport shares

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PT Freeport Indonesia mining area in Mimika Regency, Papua – Jubi / IST

Jayapura, Jubi – Head of Indonesia Stock Exchange (IDX) Jayapura Representative, Aditya Kresna Yokwa, said that the intention of Papua Province and Mimika Regency Government to buy PT Freeport Indonesia (PTFI) shares could use lasting funds.

“I suggest that the local government use the existing endowment fund, which is already prepared to absorb Freeport shares,” he said, in Jayapura, Saturday (9/23/2017).

If the endowment is not sufficient, he proposed the Papua Provincial Government and Mimika Regency could issue bonds.

The local government can issue debt to the public that later money from the sale of bonds can buy shares in Freeport.

Aditya assessed that PTFI’s share purchase was not directly by the two local governments, but through Regional Owned Enterprises (BUMD).

If the local government wants to own part of Freeport’s shares, according to him, they have to go through those two processes (SOEs and BUMDs) as long as there is any remaining. This could be listing on BEI to be purchased by the public.

He also admitted that it cannot mention the exact figure about the value of PTFI shares. But he said that the number is quite large and reach trillions of rupiah.

“If we look from the evaluation, the price is quite high because of the latest info obtained from Freeport that it is assessing the stock valuation price per share, Freeport counts with reserves that have not been ‘explore’ or still stored in the womb of the earth,” said Aditya.

Regarding the request from both local governments for Jakarta to purchase PTFI shares and grant them to Papua government, he said that would be very difficult.

Therefore, he urged that from now on the local government immediately conduct fiscal calculations to be able to find the right solution to own PTFI shares. (*)

Source: Antara

Editor: Zely Ariane

Economy

Papua House of Representatives will promote Ambaidiru coffee

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Secretary of the Papua House of Representatives, Juliana J Waromi (standing) with several members of the House of Representatives during a meeting with the community, coffee farmers, and officials of Ambaidiru – Jubi / Doc

Jayapura, Jubi – The Secretary of the Papua House of Representatives Juliana J Waromi said the house is ready to help the community of Ambaidiru Village, Kosiwo Sub-district, Yapen Islands District to promote their coffee.

She said she and several legislators visited the 60 hectares Ambaidiru coffee plantation area a few days ago in response to the aspiration of the local community. “I want to see it directly. If it’s good, I will help them to find a market. Based on my experience working with the Investment Coordination Board Papua for three years, I could promote the coffee to abroad,” said Waromi on (5/6/2018).

A coffee farmer Yulianus Maniamboy recently told Jubi that the coffee plantation in Ambaidiru firstly introduced in the Dutch era. The Dutch tried to plant it and worked. Ambaidiru coffee is now over 50 years old.

“Instead of in groups, we manage our commodity individually. Farmers dry their coffee by their own. There is no control, not centralised and consequently, the quality of coffee is still very varied. However, in the past years, we could produce a ton of coffee per month. That’s because there was no disruption and the management of the cooperative was good,” he said. (*)

 

Reporter: Arjuna Pademme

Editor: Pipit Maizier

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Economy

Local community must stop selling the land, says local legislator

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Indigenous Papuans in Kampung Urumb, Semangga District, Merauke District – Jubi / Frans L Kobun

Merauke, Jubi – A member of the Regional House of Representatives of Merauke Agency Hendrikus Hengky Ndiken appealed indigenous Papuans in Merauke on Wednesday (6/6/2018) to not selling the land anymore because it is the only assets of the Marind tribe.

“We should consider our children. If all land sold, what would left for future generation?” he asked.

Furthermore, he said customary leaders should play a role to remind people to not selling the land. He also asked the local community to no longer digging and mining the sand. “It can be noticed there are big holes everywhere in the mining areas flooded with seawater during the high tide.”

“For instance, the mining area in Kampung Urumb and surrounding areas where the sand excavation increasingly occurred. People better use the land for farming,” he added.

Meanwhile, the Unit Head of Merauke Civil Service Police Elyas Refra said his office conducts routine scrutiny on illegal sand mining. “Indeed, in some places, sand mining has occurred. We are persuasively approaching people to not digging the sand anymore because it is very hazardous and has an impact on the environment,” he said. (*)

 

Reporter: Frans L Kobun

Editor: Pipit Maizier

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Economy

Developers must complete the permit for housing construction

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Illustration of the rapid growth of housing in Doyo Lama area. – Jubi/Engel Wally

Sentani, Jubi – As the rapid growth of housing construction in the areas of Sentani Timur, Sentani and Waibhu, the Head of Integrated Permit and Regional Investment Agency of Jayapura District Henock Puraro said developers should administer the IMB (Construction Permit) first for new housing constructions.

Developers who want to build new housings need to arrange an agreement with the tenure of landowners first. Then, they should complete the legal aspect of their proposal,” Puraro told reporter in Jayapura Regent Office at Gunung Merah, Sentani on Thursday (31/5/2018).

He said his office would soon publish about the spatial planning to the public in regards to the ongoing regional development process. “We will publish the system of city spatial planning including the regulation related to housing construction,” he said.

Similarly, the Chairman of Chambers of Commerce and Industry for Jayapura District Henky Yoku said developers should consider the cultural, social and economic aspects of the local community.

“What is the impact of housing development on the local community? Developers cannot just build new housing then take a profit of it. They should take account of the sustainability of the local community who live surrounding the environment. Therefore there is a value added from this development,” he said. (*)

 

Reporter: Engel Wally

Editor: Pipit Maizier

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