Showing posts with label Economic. Show all posts
Showing posts with label Economic. Show all posts

Friday, April 10, 2009

Indonesians Love Eating Out

Indonesians have always had a penchant for dining out, and even the economic downturn has so far failed to make a dent in this habit, according to the results of a recent survey.

The survey by the Nielsen Company revealed last week that 55 percent of Indonesians ate outside their homes regularly, mostly in restaurants of various categories, and this had not changed by much since the economy first felt the fallout from the global economic meltdown in the last quarter of 2008.

Catherine Eddy, Nielsen executive director of consumer research, said the firm’s study, conducted in February, found 8 percent of the population spent less than they did last November, and only 8 percent of that figure spent less on eating out.

“Only a very small proportion of people surveyed said they were cutting back on spending for eating out,” she said.

“It seems that out-of-home eating has so far been fairly resilient. In overall terms, less than 3 percent of consumers told us they were spending less on eating out now than they were three months ago.”

The out-of-home eating survey was conducted both in the field (with a general population) and
over the Internet (with an online population).

The general population survey was done using a face-to-face omnibus method involving 2,033 interviews in six cities across Indonesia; while in the online population survey, Indonesians were part of 26,202 regular Internet users in 52 markets worldwide.

For Indonesian Internet users, estimated by Nielson at around 10 percent of the online population, 44 percent went out to eat between one and three times a month, while at least 5 percent ate at restaurants every day.

“I don’t think there’s much of a difference in the habit, before and after the crisis; the change in behavior is very small.”

Eddy said this was in part because of the fact that Indonesia’s economy was still faring relatively better than many others amid the global economic crisis.

“The survey gives us information on how the global financial crisis affects the habit. Europeans may start to ‘fasten their belts’ and significantly cut outside entertainment spending, while for some Asians, the impacts may have been limited,” she said.

Indonesia’s economy is expected to grow by 3 to 4 percent this year, according to the central bank. While it would be markedly lower than the 6.2 percent growth booked in 2008, the figure is still fairly respectable, with many regional peers growing even slower and some even suffering a recession.

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Sunday, March 29, 2009

State Companies constructs geothermal plant

PT Geo Dipa Energi (GDE), inked a deal Wednesday with state engineering company PT Rekayasa Industry and state-run Bank Negara Indonesia (BNI) to construct and finance a geothermal power plant in West Java.

GDE is a joint venture company of state oil and gas company PT Pertamina and state power company PT Perusahaan Listrik Negara (PLN).

The geothermal project, located in Patuha, Bandung, West Java, will have a capacity of 55 megawatt (MW) from a potential of 400 MW.

"This project is very vital to the second phase of the country's 10,000 MW energy crash program because 4,733 MW of it will be powered by geothermal energy, including from this one," said GDE president director Praktimia Semiawan said.

She said the construction of the Patuha plant was to be completed in two years and fully operational by late 2011, generating around 500 million KWH per year, saving PLN production costs of about Rp 750 billion (US$65.2 million).

Praktimia said a diesel-fueled power plant usually cost about Rp 2,250-Rp 2,500 per KWH while the recurrent cost of geothermal energy was about 8 US cents per (Rp 900).

Praktimia said the construction of the Patuha plant would cost GDE $143 million, of which about $80 million would be financed by a syndicated loan of state banks while the rest would be from company equity. "We have appointed state BNI as the syndication leader for the loan," she said, adding other state banks -- Bank Mandiri and Bank Rakyat Indonesia (BRI) -- were included.

BNI president director Gatot M. Suwondo said the bank was very much interested to finance power plant projects in line with the government strategy to improve the country's business infrastructure.

He said the lender had disbursed around Rp 8.32 trillion for power plant projects by December last year.

The proposed power projects were located in Cikarang, Indramayu, Rembang, Wayan Windu in West Java; Cilacap, in Central Java; Palu and Poso in Central Sulawesi; Pangkalan Bun in Central Kalimantan; Sibayak in North Sumatra; and Bintan in Riau Islands.

As well as Patuha, GDE is developing geothermal sources in Mount Dieng in Central Java, with a potential capacity of 400 MW. The company has already installed a 60 MW power plant there.

Geothermal energy will play an important role in the second phase of the 10,000 MW crash program. Geothermal energy sources are expected to power nearly half of the projects in the program. Hydro-power will account for 1,174 MW, with coal and gas provide the remaining 4,056 MW;thejakartapost.com

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