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first_imgWaskita finance director Taufik Hendra Kusuma said the company had received Rp 12.5 trillion in infrastructure payments in the first half of 2020, mostly from turnkey projects.“We’ve received Rp 7.1 trillion from turnkey project payments, with the biggest portion coming from the Jakarta-Cikampek II elevated [toll road] project,” he said in a press release on Thursday.Construction on the Jakarta-Cikampek elevated toll road began in July 2017 and was inaugurated by President Joko “Jokowi” Widodo in December 2019. The elevated road spans around 36 kilometers and costs around Rp 16.2 trillion.Furthermore, Taufik said the company was also expecting a Rp 4 trillion land acquisition repayment from the State Asset Management Agency (LMAN) by the end of the year, as well as Rp 3.3 trillion from varying projects in the near future. State-owned construction company Waskita Karya’s (Waskita) maturing Rp 1.15 trillion (US$78 million) bonds have secured a BBB+ investment grade from Indonesian rating agency Pemeringkat Efek Indonesia (Pefindo).The builder is expected to collect Rp 35 trillion in project payments this year.Pefindo expects Waskita to repay its 2015 series B bond, which will be due on Oct. 16, using its internal cash obtained from construction projects, according to a Pefindo publication released on Wednesday. “We will use the funds to repay our maturing debt. Our BBB+ rating shows that Waskita can minimize any financial risks amid pressures from the COVID-19 pandemic,” he added.As of March 31, Waskita has a cash balance of Rp 6.1 trillion, compared to Rp 4.1 trillion in maturing debts and Rp 7.9 trillion in unused credit facilities, according to Pefindo.The World Bank, through its public expenditure report, had urged the government to reduce its dependence on state-owned construction companies for toll and national road development projects, as the companies are already overleveraged.According to the report, Waskita, toll road operator Jasa Marga and state builder Hutama Karya’s average liability-to-equity (LE) ratio stood at 3.8 in 2017, more than twice the average LE ratio for comparable private firms in emerging markets.Topics :last_img read more

first_imgSPH, the €9.5bn pension fund for general practitioners in the Netherlands, is reducing its number of asset managers, switching to passive investments and renegotiating mandates in an effort to focus fully on cutting costs.According to its 2015 annual report, it will also divest its “expensive” 5.2% hedge fund allocation.The scheme said it reduced total costs by almost 15% last year, in particular by lowering its transaction costs.It said it aimed to cut asset management costs over the long term by trimming its number of managers.  Last year, SPH placed its emerging market equity and small-cap holdings in global passive mandates, while replacing several “expensive” active managers with a single passive manager.Excepting hedge funds and private equity, it said it had ceased paying all performance fees, adding that it intended to renegotiate mandate costs for emerging market debt and listed property.Meanwhile, SPH has placed the whole of its equity, government bond and commodities holdings under passive management.Alex de Waal, the pension fund’s director, said: “We want to have all asset classes managed passively in principle, unless the added value of active management is evident.”To reduce risks, the pension fund introduced a gradual scale for its equity and commodities investments, ranging from 50%, when funding is more than 130%, to 30%, when funding is less than 105%.Over the next three years, it aims to lower the risk profile of its non-listed real estate holdings by transferring its entire 10.1% property allocation into PGGM’s Private Real Estate Fund.Its board has also decided to start investing in local care centres, having already invested €14m in a nursing complex.The pension fund reported a net return of 1.3%, following losses of 2.7 and 0.3 percentage points, respectively, on its currency and interest hedges.It lost 3.7% on the 0.1% private equity allocation that remained following its decision in 2011 to divest the portfolio.SPH said infrastructure holdings generated 16.7% and that it wanted to increase its 2.6% allocation to 5% by 2020.Hedge funds returned 11.1%.The pension fund has 16,645 participants and pensioners, who received an indexation of 2.1%.Its funding stood at 131.6% as at the end of March.last_img read more

first_imgJapanese companies Marubeni Corporation and Mitsui OSK Lines recently signed a deal with Japanese Project Promotion Vehicle in the Far East (JPPV) for the development of liquefied natural gas (LNG) transshipment terminals.JPPV is a Vladivostok-based advisory group jointly established by Japan Bank for International Cooperation, Far East Investment and Export Agency and Far East and Baikal Region Development Fund.The objectives of the group are “encouraging Japanese companies to launch business in Russia and promoting Japanese investment in Russia and the Far East,” a joint statement said.The agreement between the trio, which was signed on September 5, aims to draw upon JPPV’s expertise in order to “smoothly establish LNG transshipment terminals in the Far East,” the statement said.Marubeni and MOL have previously signed a memorandum of understanding with Russia’s LNG operator and developer Novatek for a joint feasibility study aimed at establishing an LNG transshipment and marketing complex off Kamchatka Peninsula.Novatek said earlier this week it plans to invest 70 billion Russian rubles ($993.7m) in the LNG hub in Kamchatka for shipments to consumers in the Asia-Pacific region.last_img read more

first_imgNorth Decatur vs. East Central Varsity Golf @ Grand Oaks par 36.North Decatur  196, East Central  197Co-medalist. Kyle Leising & Collin Bryant  45Other North scores. Trey Nobbe 49; Brady Espinda 50; Brendan Spears/ Cejay Parmer 52.North is now 9-3 in dual meets and this was our first win at Grand Oaks which is nice considering none of these guys have ever played the front there.Courtesy of Chargers Coach David Espinda.last_img

first_img Press Association “We are all so happy and appreciate the fact we get to work with a manager like him. “He’s developed our squad and changed the mentality. He has done a lot of things for two years and this year really is the best.” Mourinho plans to integrate Chelsea’s emerging talent into his side at West Brom, with the final day clash at home to Sunderland one for the regulars on the day the trophy is lifted. Ruben Loftus-Cheek, the 19-year-old midfielder, made his first start against Liverpool, but Ivanovic believes there are a number of young players who could make the grade at Chelsea, if Mourinho can successfully integrate them into a trophy-challenging side. “I hope this is just the beginning of a big career,” said Ivanovic of Loftus-Cheek, while also referring to Dominic Solanke, Izzy Brown, Andreas Christensen and Nathan Ake. “We have a great generation of young players. It’s not just Ruben. “We have a minimum of five, six players who can be in our squad and it is great for the manager to give them a chance to play. “This is the period, the next one or two years, where they need to prove they are really good.” Like Chelsea, Liverpool are looking to the future and life after talisman Steven Gerrard, who is leaving for Major League Soccer’s Los Angeles Galaxy this summer. Adam Lallana believes a collective improvement is the only way to fill the void created by Gerrard’s imminent departure. “He is irreplaceable,” Lallana told Liverpool TV. “I don’t think the Premier League or Liverpool realise what we’re going to miss out on next season. “The best way to replace him is not just one individual, it’s going to be a combination of every single player.” Not even Gerrard, whose feats have delivered success time and again for Liverpool, can secure Champions League football next term now. The Reds trail fourth-placed Manchester United by six points – and have an inferior goal difference – with two games to go. Lallana remains bullish. “I just feel with the disappointments we’ve had this season we can really learn from it and push on as a young squad and come back next season and fight for the title and to get into the Champions League places,” Lallana added. “Looking for one more to beat (my best),” Terry told Chelsea TV. “Two games to go. I’m fit. Hopefully I play in both. I’ll be begging the manager to let me play. “Two games we need to keep winning and keep pushing on.” Mourinho’s management has been lauded by Terry’s fellow defender Branislav Ivanovic, who expressed incredulity that the Portuguese had not won a Manager of the Month award this term while tipping the Blues boss for the Manager of the Season prize. “There is not even a question over who the best manager is this season,” Ivanovic said. “I don’t how that (not winning manager of month) happened. But it doesn’t matter. If he won one or not, for sure he is the best manager this season. “He always makes the difference. Most of the games, when you study them, every single one he was important in making sure we won them. “He has crucial things to say and crucial things to decide. When there is a big game he is always so motivated, but small games too. Inside the team, it’s all about him. John Terry has played every minute of Chelsea’s Premier League title-winning campaign and will ask Jose Mourinho to continue in the last two games of the season in a bid to beat his personal goalscoring record. Terry scored his fifth Premier League goal of the season and 39th in all – surpassing David Unsworth’s record for a defender – in Sunday’s 1-1 draw with Liverpool, which all but ended the Reds’ hopes of Champions League qualification. The 34-year-old Blues skipper has equalled his best goals haul for a season of eight and wants to play at West Brom on May 18 and at home to Sunderland on May 24 in a bid for his ninth. last_img read more

first_imgThe Dow Jones Industrial Average has been down over two-thousand points as fears over the coronavirus and oil prices send markets tumbling.Trading was already put on a brief freeze for 15 minutes this morning after market circuit breakers were triggered following a drop of 7%.LIVE: @NBCNews Special Report: Dow opens down more than 1,700 points. https://t.co/zONjag6Huj— NBC News (@NBCNews) March 9, 2020 The two-thousand point drop means the Dow was down nearly 8%. The Nasdaq is down nearly 600 points and the S&P 500 is down more than 200 points.last_img read more

first_imgELLSWORTH — ELLSWORTH — Ellsworth, Mount Desert Island, George Stevens Academy and Bucksport each had athletes named to both the All-State and Penobscot Valley Conference All-Star swim teams.For Ellsworth, Camden Holmes received the honors in the 100-yard freestyle, 200-yard freestyle, 200-yard freestyle relay and 400-yard freestyle relay. Holmes was the winner of the 100 free and 200 free at last Monday’s state championships in Orono. Despite swimming the state championships with an injured back, senior Sam Alvarado made the team with the best 500-yard freestyle time of any Class B swimmer.MDI’s Liam Sullivan made the team in the 200-yard medley relay, 200-yard IM, 100-yard breaststroke and 400 relay. On the girls’ side, Lydia DaCorte made the team in both the 200 IM and the 100-yard butterfly. Her 200 IM time of 2 minutes, 8.67 seconds was the best in the state.Holmes, Alvarado, Sullivan and DaCorte were Penobscot Valley Conference All-Stars as well. Ellsworth’s Hayden Sattler, Austin Baron, Richie Matthews and Ellie Clarke joined them on the PVC team, as did MDI’s Amos Price, Maddie Woodworth and Chelsea Schroeder. The MDI girls’ 200 and 400 relay teams of DaCorte, Woodworth, Ceileigh Weaver and Ruby Brown rounded out the list for the Trojans.This is placeholder textThis is placeholder textAlso present on both teams were Bucksport’s Anthony Wardwell and GSA’s Ava Sealander. Wardwell was named the PVC’s best male diver after winning the Class A competition’s indivudal state title last week, and Sealander, who made All-State in the 200 relay, was named the conference’s best female swimmer.last_img read more

first_img… Launch shifted to September 5 TOROINTO Cup Masters Softball cricket tournament 2017 winners SVC Mafia and New York Hustlers have confirmed their participation for Guyana’s Premier Softball Cup.Named the ‘Prime Minister’s Cup’, the three-day tournament is billed for October 27, 28 and 29.The two teams will be joined by New York President’s X1 and Try State Masters as the four teams confirmed from North America so far.According to the secretary of the Georgetown Softball Cricket Association Inc. (GSCL Inc.) Telesha Ousman, South Florida has indicated an interest, but will confirm their participation early next week.The tournament will be played in two categories, the Masters and All Stars, and Ousman indicated that the organising committee has decided to open the entry to any number of teams interested to be a part of the tournament.“When we first planned the tournament, we decided that 16 teams will participate, eight in each category, but we now decided to open to any number of teams,” Ousman said in an invited comment yesterday.Players must be over the age of 45 in order to play in the Masters category, while the All Stars format is open to all ages.Teams registering for the Over-45 category must submit photo identification, preferably valid passports for every member of their 15-man squad.The Over-45 category will make the champions $500 000 richer while in the All Stars category the winning team will collect $600 000.The proposed venues are the Demerara Cricket Club (DCC), Everest Cricket Club, Gandhi Youth Organisation (GYO), Police, GNIC and Malteenoes.Registration can be done through Russel Jadbeer on 626-8228 or 226-4205. Entrance is free.The official launch, which was billed for yesterday has now been shifted to September 5.last_img read more

first_img Comments Syracuse has never won a College Hockey America title in the program’s 10 years of existence. But even in the midst of its longest losing streak in program history — now at 10-straight games — there’s still an opportunity for an Orange title run with more conference play looming.“Obviously we’ve been struggling,” senior captain Allie Munroe said. “But throughout the room, we still have confidence in each other.”All four wins for Syracuse (4-16-1, 4-4 College Hockey America) have come against conference opponents. SU hadn’t played a conference game since Nov. 16 before Friday’s 4-2 loss to Rochester Institute of Technology. Conference play is the sole determiner of seeding for the postseason tournament, and the Orange began a stretch of 13-straight games against CHA opponents on Jan. 11. If the playoffs were to begin today, Syracuse would be the fourth seed of six teams despite being on pace for its worst program winning percentage ever (.214).Winning games has been difficult for Syracuse’s young and inexperienced defense, which relies on upperclassmen Lindsay Eastwood and Allie Olnowich. All other defenders have a plus-minus rating below minus-14. So as SU’s deficits grow from its backline’s play, its offensive play hasn’t been able to recover.While the younger defensemen have struggled, the team’s younger forwards have thrived. Freshman Lauren Bellefontaine and sophomore Emma Polaski are second and third on the team in points, respectively.AdvertisementThis is placeholder textWhen the Orange last reached the conference finals in 2016-17, they had a 5-11-5 record before winter break. In its 10 years of existence, SU has still managed to make the finals six times, even with mediocre fall records.The first half of SU’s season is primarily against nonconference opponents — many of them ranked — in order to test SU before the home stretch in conference play, Polaski said.This season, SU finished 0-12-1 in nonconference games with nine matchups against the nation’s top-10 teams. While the Orange were outscored 47-13 in those contests, head coach Paul Flanagan sees worth in the first half of his season.“The experiences we’ve had in this first half are really going to help us in the second half,” Flanagan said, “Just knowing we have to do things quicker.”CHA teams also play with an underdog mentality, Munroe said. Considering their cumulative lack of success against top teams such as Wisconsin, Minnesota or St. Lawrence, CHA play gives teams an opportunity for a level playing field.“We know each other,” Munroe, the team’s leading goal scorer, said. “We know how they play, we know what’s on the line and we know that we might see them come playoff time.”While the extra motivation didn’t help in SU’s first conference game of the new year — in which RIT scored four first period goals — the Orange outshot the Tigers, 40-36, and goaltender Maddi Welch pitched a shutout in 40 minutes of relief.The bulk of SU’s conference games remaining are against five CHA teams, all without winning records. But with the worst overall record in its conference, Syracuse still has opportunity to reclaim its season in the final stretch.“Right now, we’re the underdog everywhere,” Munroe said. “But I don’t mind that and I don’t think anyone else in the room does. We have a lot to prove.” Published on January 13, 2019 at 9:57 pm Contact Tim: tnolan@syr.educenter_img Facebook Twitter Google+last_img read more

The cops, who were assigned to the Homicide Street Violence Task Force, \were part of a multi-agency gang enforcement sweep.According to detectives, shortly after 10:00 p.m. Mondaythe two detectives were inside of an unmarked police vehicle within an apartment complex, located at 1937 NW 60 Street, conducting surveillance for gang activity.  The undercover detectives were ambushed by at least two armed subjects, who approached the unmarked police vehicle and began shooting at the detectives.  One detective sustained a gunshot wound to the leg and the other sustained a gunshot wound to the arm.  One of the two detectives was able to return fire, it is unknown if any of the attackers wereshot.A responding officer coming to their aide arrived on scene, placed the wounded detectives into his unmarked police vehicle and transported them to Jackson Ryder Trauma Center in stable condition.Officers from multiple agencies responded to assist in the search for the shooters, who remain at large. Two Miami-Dade police officers are now in hospital after they were ambushed and shot while on a stake out in Northwest Miami-Dade County on Monday night. read more