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PRESS DIGEST-Indonesian Business News - May 30

Tue May 29, 2007 9:20pm EDT

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Following are the leading business stories in the main Indonesian newspapers on May 30. Reuters has not verified these stories and does not vouch for their accuracy. Telephone: Editorial: +62-21-384-6364. Fax: +62-21-344-8404 or Help Desk: +803-061-2124 (toll free).

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JAKARTA POST

- GOVERNMENT TO RENEGOTIATE INCO ROYALTIES DEAL

Indonesia's government is negotiating with PT International Nickel Indonesia (INCO.JK) to revise the current royalty system to seek more revenue from rising nickel prices, a senior mining official said on Tuesday.

- ANTAM TO INVEST $2.9 BILLION

In a bid to add value to its mining operations, PT Aneka Tambang Tbk (Antam)(ANTM.JK), the country's second largest nickel producer, will build five alumina and nickel smelters at a total cost of $2.9 billion, its president director said.

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KOMPAS

- PGN, PERTAMINA NEGOTIATE GAS PRICE

Indonesia's state oil and gas company, PT Pertamina, and the country's gas distributor, PT Perusahaan Gas Negara (PGN)(PGAS.JK), are negotiating the gas price to improve the selling price of the fuel in the west Java and northern Sumatra area, company officials said.

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BISNIS INDONESIA

- INFLATION SEEN REACHING 6.4 PERCENT IN 2008 - C.BANK DEPUTY

Indonesian inflation may reach 6.4 percent next year, nearing the upper end of the government target of 6.0-6.5 percent, the central bank's senior deputy governor said.

- TELKOM SAYS TELKOMSEL DELAYS 2-TRLN RPH BOND ISSUE

Indonesia's largest telecommunication company, PT Telekomunikasi Indonesia Tbk (TLKM.JK), said its mobile phone arm will delay its plan to issue 2 trillion rupiah worth of bonds to next year.

- ASTRA AGRO PLANS TO EXPAND PLANTATION AREA BY 75,000 HECTARES IN '07

Indonesia's largest listed plantation company, PT Astra Agro Lestari Tbk (AALI.JK), plans to increase its plantation area by 75,000 hectares (185,300 acres) this year, its finance director said.

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INVESTOR DAILY

- INDONESIA'S FIRST T-BILLS ISSUE OVERSUBSCRIBED 6.4 TIMES

Indonesia's first treasury bills issue received 12.88 trillion rupiah ($1.46 billion) of demand, out of a target to raise 2 trillion rupiah, a finance ministry official said.

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($1 = 8,810 rupiah)

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