Drunk Citilink Indonesia Pilot Stumbles Through Security, Makes Weird Announcements Before Takeoff

A pilot of Garuda Indonesia Budget subsidiary Citilink showed up strongly intoxicated for work and started a chain event within the company culminating in senior executives resigning from their post.

The irregular behavior of the pilot caught passengers attention when he made strange, incoherent announcements prior to take-off and led some to demand leaving the aircraft.

After that the pilot was questioned by authorities after which it was determined that he was overly intoxicated and sent to a clinic for medical examination for which reports are due to be released next week.

You can read about it in the Jakarta Post (access here).

Citilink, the low-cost subsidiary of national flag carrier Garuda Indonesia, has been under media spotlight following reports that one of its pilots was possibly under the influence of alcohol while on duty.

The pilot, identified as Capt. Tekad Purna, was relieved on Wednesday after passengers claimed he spoke incoherently during a flight announcement made before takeoff. Many passengers decided to disembark from the plane soon after as they were suspicious that the pilot was drunk.

The incident occurred on Wednesday morning as a Citilink flight prepared to depart from Juanda International Airport in Surabaya, East Java, to Soekarno-Hatta International Airport in Jakarta.

Also on Friday, the airline announced that it had fired Tekad for breaching the procedures, a violation that can endanger the lives of passengers.

The pilot was reported to have undergone a medical test at a clinic in Surabaya, East Java, as well as a second medical test in Jakarta by the Flight Health Agency. The final results of the medical check will be issued in a week. …

Citilink vice president of corporate communications Benny S. Butarbutar said that president director Albert Burhan and operational director Hadinoto Soedigno had decided to resign from the company following the incident.

When such a senior figure of a company resigns that means the allegations are serious and either their personal responsibility or at least code of honor weighs heavily on them.

In the meanwhile a video surfaced that shows the captain at the airport in Surabaya, stumbling (apparently drunk) through the security checkpoint.

Under normal circumstances that alone would have been sufficient for security staff to alert authorities to check on the pilots.

Of course in some countries being a pilot and a Captain at that commands a lot of respect and maybe the security staff among other fear consequences of whatever entity if the suspicion turns out to be false.

Conclusion

We wrote about a number of drunk pilot incidents this year and many times the crew was actually stopped or detected by ground staff who then alerted the local authorities. Unfortunately this system doesn't work everywhere. I find it hard to believe that the First Officer wouldn't detect his captain to be totally blitzed and then let him get away with it. I've never flown Citilink before so I can't comment on any experience with them first hand.

Nevertheless let's hope 2017 will be the Sober Year for flight crews (I doubt it somehow). I wish all of you a Happy New Year ahead and safe travels for 2017!

Source: Drunk Citilink Indonesia Pilot Stumbles Through Security, Makes Weird Announcements Before Takeoff

Southeast Asia’s Best Stock Seen Extending Rally on Cost Cut (1)

(Bloomberg) -- PT Adaro Energy, Southeast Asia's best-performing stock this year, is expected by analysts to extend gains in 2017 as it benefits from rising coal prices and cost-cutting initiatives.

The coal miner's measures to reduce expenses resulted in an earnings before interest, taxes, depreciation and amortization margin of 36.2 percent in the third quarter, the largest among Indonesia's five biggest listed coal miners, and the highest quarterly reading in three years, according to data compiled by Bloomberg. Adaro's shares more than tripled in 2016, also buoyed by rebounding commodity prices, and analysts see the stock advancing another 8.1 percent in the next 12 months to the highest since May 2012.

Adaro is "the most cost efficient coal producer and the second cheapest in terms of enterprise value over Ebitda," said James Wahyudi, an analyst at PT Sinarmas Sekuritas in Jakarta. "We estimated its revenue to increase by 47 percent in 2017 and net profit to rise by 27 percent."

The country's second largest coal miner by output is expected to report a 32 percent increase in net income next year as its revenues climb a projected 15 percent, according to estimates from analysts surveyed by Bloomberg. Adaro has been a "consistent long-term player" as it decreased its cash costs by 36 percent in five years, said Sandro Sirait, an analyst at Trimegah Securities in Jakarta.

Adaro has managed to lower its stripping ratio, the volume of soil waste to be handled to extract a ton of coal, without affecting its reserves due to the size of its pit, Sirait said. To further reduce its costs, Adaro also contracted its own unit to do more of the mining work rather than outsourcing the job, he said.

Share Boost

Adaro shares surged 228 percent this year, almost three times as much as the equities of AirAsia Bhd., which had the second largest rally on the MSCI South East Asia Index. Erindra Krisnawan, a Jakarta-based analyst at CIMB Securities whose recommendation on the stock produced the best return among analysts surveyed by Bloomberg, predicts the stock price could rise to 1,950 rupiah from 1,690 rupiah on Friday.

Rising commodity prices and expectations for higher demand has boosted the Jakarta Stock Exchange Mining Index 70 percent this year, making it the best performer among nine industry groups in the benchmark measure. Some investors are also betting that U.S. President-elect Donald Trump's plans to boost infrastructure spending will result in even more demand for commodities and energy.

Rally Overdone

Adaro shares traded unchanged at 1,690 rupiah at 10:15 a.m. local time in Jakarta after gaining as much as 0.9 percent earlier. Despite this year's rally, Adaro trades at 11.4 times of its 12-month projected earnings, near its three-year average of 11.1 times. However, Indra Mawira, a fund manager at Panin Asset Management in Jakarta, said he sees more downside risk for coal stocks.

"The rally in coal stocks might be overdone as the recent uptrend in coal prices was driven by the intervention of the Chinese government instead of fundamentals," Mawira said. "I don't think it can be sustained. We see the new equilibrium for coal price of around $60-70 per ton." The coal price at Australia's port of Newcastle climbed 2.5 percent on Dec. 28 to $91.75 per ton, according to data compiled by Bloomberg, taking its year-to-date advance to 102 percent.

Adaro Energy's spokeswoman Febrianti Nadira said in an e-mail that the company will provide guidance for 2017 in early February and will continue to look at efficiency improvements. "We are optimistic with the prospect from Indonesia and other Southeast Asian countries as these countries will continue to depend on coal to fuel their surging energy needs to achieve stronger economic growth." Nadira wrote.

Adaro's largest shareholder, PT Adaro Strategic Investments with a 43.9 percent stake, could not be reached for comment.

(Updates shares in eighth paragraph.)

--With assistance from Fathiya Dahrul To contact the reporters on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net, Harry Suhartono in Jakarta at hsuhartono@bloomberg.net. To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Andrew Janes

©2016 Bloomberg L.P.

Source: Southeast Asia's Best Stock Seen Extending Rally on Cost Cut (1)

Where to celebrate New Year’s Eve outside Jakarta

Those who seek to spend their New Year's Eve in style outside Jakarta may want to consider these cities that are set to host various festive events. https://goo.gl/i1gw3K

Where to celebrate New Year's Eve outside Jakarta

Those who seek to spend their New Year's Eve in style outside Jakarta may want to consider these cities that are set to host various festive events.

Source

Article is curated - Original might have been posted at a different date/ time!
Source: Where to celebrate New Year's Eve outside Jakarta

Crude Rally Lifts Commodity Currencies; Bonds Rise: Markets Wrap

Oil traded near the highest level since July last year while New Zealand's dollar rose the most among major currencies. European bonds advanced.

Crude climbed for an eighth session, the longest streak since 2010, before OPEC and other producing nations start reducing output. The currencies of Australia, New Zealand and South Africa strengthened as oil and gold prices rose. U.K. gilts traded at the highest level since November, while global equities eked out post-Christmas gains, led by the stocks of commodity-producing companies.

Trading has been thin across the globe during the last week of the year, with volumes in crude oil, equities and currencies all below average. Investors have displayed resilience in the face of shocks such as the Brexit vote and Donald Trump's presidential win, sending the dollar to the highest level in more than a decade and propelling U.S. equity benchmarks to records.

"Positions are being defended, not least in oil, while China worries and lower U.S. bond yields has seen gold move higher," said Ole Hansen, the head of commodity strategy at Saxo Bank A/S in Hellerup, Denmark, said by e-mail. "Very thin market conditions ahead of year-end are making it difficult to read too much into the current movements."

Commodities

Crude futures jumped 0.6 percent to $54.22 a barrel at 10:33 a.m. in London, extending Tuesday's 1.7 percent gain. Prices are set to recover next year as production cuts help rebalance an oversupplied market, Saudi Arabia's Energy Minister Khalid Al-Falih said last week. OPEC and 11 nations from outside the group including Russia have agreed to trim about 1.8 million barrels a day from January.

Gold was up 0.2 percent at $1,140.66, climbing for a third day from an 11-month low.

The trading volume for natural gas for next-month delivery on the U.K.'s National Balancing Point exchange reached four times the average for the time of day. Prices rose 3.1% to 50.17 pence a therm.

Currencies

The New Zealand and Australian dollars rose the most among the major currencies. 

The New Zealand dollar rose 0.5 percent to 69.24 U.S. cents, extending a rally from a near seven-month low reached on Dec. 23.

The yen slipped 0.2 percent to 117.68 per dollar after falling 0.3 percent Tuesday.

The Bloomberg Dollar Spot Index was little changed, still trading near the highest level in more than a decade.

Turkey's lira retreated 0.4 percent as the Anadolu news agency said the country agreed with Russia on a Syria truce plan.

Bonds

U.K. gilts advanced as markets in Britain reopened after the public holiday. Yields on 10-year gilts fell three basis points to 1.314 percent. They earlier reached 1.302 percent, the lowest since Nov. 10. 

The advance in German bunds lagged behind those in peripheral bonds from Italy and Spain. The yield on the benchmark 10-year bund fell one basis point to 0.19 percent, while those on similar-maturity Spanish notes fell four basis points.

Stocks

The Stoxx Europe 600 Index swung between a gain and loss of less than 0.1 percent.

Commodity stocks were the biggest gainers among industry groups, with BHP Billiton Ltd. and Fresnillo Plc up at least 4 percent. Italian lenders declined, with Banca Popolare di Milano Scarl and Banco Popolare SC down at least 3.3 percent.

Hong Kong's Hang Seng Index added 0.8 percent, rebounding from a five-month low, as banks led a rally among Chinese companies. The Hang Seng China Enterprises Index gained 1.3 percent, the most in a month, and the Shanghai Composite Index lost 0.4 percent.

The Jakarta Composite Index added 2.1 percent, extending Tuesday's 1.5 percent gain and clocking up the biggest two-day advance since February. The Philippine Stock Exchange Index posted the steepest advance since October. 

A measure of mining companies in South Africa led equity gains, with a ratio of prices to earnings rising from its lowest level since 2013.

The S&P 500 Index extended its monthly advance on Tuesday with a gain of 0.2 percent. The Nasdaq Composite Index rose to an all-time high and the Dow Jones Industrial Average approached 20,000.

Source: Crude Rally Lifts Commodity Currencies; Bonds Rise: Markets Wrap

Ahok’s next blasphemy hearing moved to S. Jakarta: Judge

The next hearing of Jakarta Governor Basuki "Ahok" Tjahaja Purnama's blasphemy case will be held at the Agriculture Ministry's building in Pasar Minggu, South Jakarta, to avoid disruptions in public areas.

The Supreme Court approved the North Jakarta District Court's plan to move Ahok's trial venue to the ministry's compound from the current location at the former Central Jakarta District Court building on Jl. Gajah Mada No. 17, Central Jakarta, following requests from police authorities and prosecutors.They sought a new venue in a bid to avoid disruptions of public activities in the current location, which is in the heart of the city's economic center.

"The next hearing is set to be held at the Agriculture Ministry's building on Jan. 3," presiding judge Dwiarso Budi Santiarto said during Ahok's third hearing on Tuesday.

In the hearing, the judge panel read out the court's rejection over Ahok's exception conveyed on Dec. 21. In his exception, Ahok rejected the prosecutors' indictment, saying he had never intended to insult Islam, the Quran and ulemas.

The blasphemy case, which occurs during heightened political tensions ahead of the upcoming Jakarta gubernatorial election, has drawn public attention, including among Ahok's supporters and opponents. 

During Tuesday's hearing, hundreds of people packed areas in front of the North Jakarta District Court both to give their support to Ahok and to criticize him over the case and demand his arrest.

Police personnel beefed up the security inside and outside the court's building, prohibiting many journalists from entering the courtroom by claiming it had been overcapacity. Like in previous hearings, heavy traffic congestion occurred during today's hearing. (ebf)

Source: Ahok's next blasphemy hearing moved to S. Jakarta: Judge