Connect with us

Economy

FREEPORT : NEGATIVE CASH FLOW IN QUARTER I/2014 IS NOT SUFFICIENT TO PAY DIVIDEND

Published

on

A location f Freeport's mining area (Jubi)

A location f Freeport’s mining area (Jubi)

Jayapura, 18/4 (Jubi) – The Government of Indonesia continues pursuing PT Freeport Indonesia to pay the overdue dividend while the company reportedly acknowledged their business profit has not been sufficient to pay such a debt.

“I knew Freeport had 6 trillion profit, that’s why we keep asking them to pay,” said the Minister of Mineral Resources Dahlan Iskan after the meeting at Re-Indo Office in Jakarta on Thurday (17/4) as reported in merdeka.com.

He further admitted PT Freeport Indonesia based on the Shareholders General Meeting decided not paying dividend to the government because the government only holds 9.3% of total shares.
“The Shareholders General Meeting decided not paying dividend to the government, but the State Company didn’t agree. However, they still kept saying they couldn’t pay because they need to cover other expenditures. The voting was conducted then, and the result is not to pay. 9.3 % is meaningless, therefore we are struggling for it,” the Minister said.

But last year’s financial statement was showing the PT Freeport to benefit through the increased sales volume of gold and copper to 6.4 % or USD 4.34 billion of previous USD 4.09 billion. This fact has made the Ministry of Mineral Resources pursuing dividend; the government will ask the interim dividend.

The Vice President Corporate Communication of PTFI, Daisy Primayanti said to tabloidjubi.com the company was not able to pay dividend to the company’s shareholders including the shareholders of parent company and the Government of Indonesia partly because of the interruption of the operations that was occurred for almost two months.
“Due to the interruption of the operations, the sales volume of cooper and gold were reduced. The drop of global commodity price in 2013 also affected the company,” she said by phone (18/4).

She further said PTFI is currently using its cash flow to maintain its current productivities and large investment of Underground Mining.
“The company’s cash flow of Quarter 1/2014 is negative. It’s not sufficient to pay dividend,” she said.

Earlier, she said to Jubi that PTFI has used the cash flow to USD 1 Billion investment to develop the underground mining. The underground mining project has been planning for 2017 and would later become the basis of mining activities of PTFI.
“The underground mining project was estimated to spend about USD 15 billion during the remaining mine life,” she said. (Jubi/Victor Mambor/rom)

Economy

The government never take Papuan resource wealth, says Indonesian Vice President

Published

on

Wakil Presiden Jusuf Kalla – Bloomberg/Dimas Ardian

Jayapura, Jubi – Indonesian Vice President Jusuf Kalla maintained that the central government had never taken the resource wealth of Papua for their benefit.

“The thought that the central government has been taking the Papua’s resource wealth is not true. In contrast, it’s the central government who provide aids for Papua, it’s like what we do for Aceh,” the vice president told reporters at the Vice Presidential Palace, Jakarta on Tuesday (11/12 / 2018).

The profit sharing of Freeport’s profits is an example of the government’s attention towards Papua.

Moreover, he said the number of funds disbursed by the central government to Papua exceeded the profits of Freeport in 2017.

“Freeport last year only paid a royalty tax just above IDR 10 trillion. Previously it was IDR 18 trillion, but now it decreased. Let’s say that the central government might receive about IDR 20 to 25 trillion from other revenues, but we transfer almost IDR 100 trillion for Papua,” said the vice president.

He further said that many efforts for arranging a dialogue involving both the central and local government and the local community have frequently made to find solutions for development in Papua. However, these efforts often are driven by the political interest of certain groups who want the independence of Papua.

Regarding the independence issue, Vice President Jusuf Kalla firmly said that the central government would not give that to Papua.

“Now, actually, the option of dialogue is also raising a new query whether it’s still applicable? Everything is for Papua, except the independence,” he said. (*)

Source: Antara

Editor: Pipit Maizier

Continue Reading

Economy

Local Government of Jayapura Regency promotes local food

Published

on

Jayapura Regent drumming ‘Tifa’ to open the Coordination Meeting of the Food Security Board in Jayapura Regency on Tuesday (10/30/2018) – Jubi / Engel Wally

Sentani, Jubi – Jayapura Regent Mathius Awoitauw highlighted the importance of the availability of local food supplies such as sago, fish, tubers and cocoa in Papua. It means that in every official occasion, the local food will serve as a snack or lunch.

“The local government supports the availability of local food stocks including sago-based food, cocoa, fish and tubers to support the local food security program in this region,” said the regent after opening the Jayapura Food Security Board Meeting at Jayapura Regent Office in Gunung Merah Sentani on Tuesday (30/10/2018).

Furthermore, the regent said the local government needs to address the issue of the local food as an alternative to rice. “From the health perspective, the local food is healthier. Therefore, ahead to the regional event such as PON 2020, the local food must represent our culture to visitors, give them an impression of the originality of our food,” he said.

Meanwhile, Tasrip, the Head of Food Security Office of Jayapura Office, said his office keep promoting the local food and conduct training for the local community on local food processing and consumption.

“We hope that through the Food Security Board meeting, there are recommendations to policymakers to jointly urge the local food consumption as well as to support the local food supplies,” he said.

Government to provide market and product mapping

To support the program, Jayapura Regent Mathius Awoitauw then asked the Food Security Board to help the local farmers and fishermen with a market for selling their local food products. The market will maintain the price; therefore the stocks of local food will be increased. “By providing the market, it means we have helped people’s livelihood,” said the regent.

He also hopes that the increase in local food consumption can be a joint movement of the local government and community to improve people’s prosperity and independence of society in the era of globalisation.

Meanwhile, the Head of Regional Planning and Development Board (Bappeda) of Jayapura Regency Hana Hokoyabi said so far they have conducted mapping on potential commodities, and now the local community is also involving in the cultivation and management strengthening system.

“For instance in Unurumguay sub-district, a sago factor managed by the local community has been built. The similar activities have also done in some villages. The local community makes sago flour from the raw sago using the machine. They then sell their products to the markets in Papua and outside Papua,” she said. (*)

 

Reporter: Engelbert Wally

Editor: Pipit Maizier

Continue Reading

Economy

Papua and PNG begin business relation

Published

on

Papua New Guinea’s Madang Governor Peter Yama left with the Governor of Indonesia’s Papua province, Lukas Enembe in Jayapura. October 2018 – Photo: Supplied

Indigenous West Papuans are exploring business opportunities in neighbouring Papua New Guinea, following high-level talks.

The governor of PNG’s Madang province this week visited his counterpart in Indonesia’s Papua province.
 
Peter Yama’s visit to Jayapura, where he had talks with Papua’s Lukas Enembe, followed a trip by the latter to Madang and other PNG provinces last month.
 
Mr Yama also met with Papua’s Indigenous Business Council to discuss how West Papuans can grow links to his province.
 
The council’s Merry Yoweni said they hope to visit Madang before the end of the year
 
“Hopefully what Madang offers for Papua can open for our local people to make any tpe of business with them. So we will have a meeting next week to decide about this [the timing of a trip to PNG]. So if we can get to Madang, that would be great, to see the opportunity there directly.”
 
Ms Yoweni welcomed Mr Yama’s offer of having business channels explored between the two sides of New Guinea.
 
“Before we cannot go easily to go to PNG to make business with our neighbour,” she explained.
 
Ms Yoweni said the signs that the provincial governments were willing to open up links signalled a good opportunity, purely about economics and unrelated to politics.
 
Meanwhile, the two governors signed a Memorandum of Understanding for co-operation as sister provinces.
 
The leaders agreed to explore co-operation in fields including industry and trade, tourism and culture, infrastructure and transportation, education and training, health, agriculture, fisheries, forestry, mining as well as search and rescue among other areas.
 
Following his Jayapura visit, Mr Yama travelled to Indonesia’s national capital Jakarta.(*)
Source: RNZI

Continue Reading

Trending