GEV signs joint development agreement for CNG power project in Brazil

first_imgThe partners will use their respective expertise to jointly evaluate and promote the development of a CNG to Power project Pre-Salt regional overview and proximity to Porto Norte Fluminense. (Credit:GEV/EPE) Australian compressed natural gas (CNG) developer Global Energy Ventures (GEV) has signed a joint development agreement (JDA) with Porto Norte Fluminense (PNF), and GEV’s Brazil country associate, GAIA, to assess the development of a CNG to Power project in Brazil.As per the JDA, the partners will leverage their respective expertise to jointly evaluate and promote the development of a CNG to Power project, including CNG import facilities at the Port.Offshore port and gas hub planned in municipality of São Francisco de ItabapoanaPNF is developing an offshore port and gas hub in the municipality of São Francisco de Itabapoana, State of Rio de Janeiro.GEV said that the Port’s proposed offshore terminal would be ideal for CNG import and unloading, due to its fit for purpose design, offshore accessibility and dedicated facilities.If feasible, the partners would progress to definitive and binding agreements with operations planned to commence in 2025.GEV Brazil project manager Luke Velterop said: “While gas reinjection can be required for reservoir management, operators are having to consider reinjection of the entire gas stream, due to the lack of midstream infrastructure and gas market challenges.“An integrated CNG to Power project would solve both of these issues. CNG Optimum and PNF can unlock value in Pre-Salt natural gas reserves by offering operators a fit for purpose solution with the CNG shipping fleet, port terminal and plant facilities specifically sized to the gas production and market demand.”“The JDA partners envision a CNG to Power project with a long-term Pre-Salt gas price would be competitive to power plants using imported LNG as fuel.”In advance of Brazilian power auctions scheduled in 2021, the JDA partners plan to assess the cost competitiveness of specific gas fields for a CNG to Power project.last_img read more

Oxford grad is youngest king

first_imgAn Oxford University graduate became the world’s youngest monarch on Thursday.King Jigme Khesar Namgyel Wangchuck, who – rather conveniently – studied politics and international relations while at Oxford, is newly-crowned king of the remote country of Bhutan at the age of only 28.The lavish ceremony took place in royal palace in the capital, Thimphu. Thousands of international dignitaries flocked to the occasion, including India’s President, Pratibha Patil, governing Congress party leader Sonia Gandhi and various Bollywood stars.last_img read more

Work begins on new Somerville accommodation

first_imgWork has begun on a Somerville accommodation block in Jericho, which will take all Somerville undergraduates out of private rented housing. The site, located on Walton Street, aims to provide bedrooms for 68 students.The proposition proved controversial in the planning stage, after concerns that archaeological remains from the English Civil War lie beneath the site. Construction began on the building on 11th January this year.It will be named after the late Catherine Hughes, principal of Somerville between 1989 and 1996. Dr Trevor Hughes, Catherine’s husband, marked the occasion by putting the first shovel in the ground.The work on the Walton Street site will be undertaken alongside the construction of a further 42 rooms. They will be added to the rear of 25-27 Little Clarendon Street, a Somerville College owned property. 110 bedrooms will be built in total across both sites.The college treasurer, Andrew Parker, said: “The Catherine Hughes building will help us to achieve one of our long-held goals: to accommodate all of our undergraduates on site.“We know that this will bring our Somerville community even closer together.“It will also offer a significant benefit for applicants choosing Somerville, and will be particularly important to those who might otherwise be deterred by the cost of having to live out for a year.”The building is expected to be completed in October 2019.last_img read more

Commentary: Pregnant, Young And Alone? Tough Luck In Indiana

first_imgCommentary: Pregnant, Young And Alone? Tough Luck In IndianaFEBRUARY 1, 2019, By Mary Beth SchneiderTheStatehouseFile.comINDIANAPOLIS–The Indiana Senate last week voted to ensure that a 16 or 17-year-old girl who is pregnant and without the support of her parents suffers.Seriously.Mary Beth SchneiderThe Senate voted 24-25 against a bill that would have allowed those teens to seek prenatal care to ensure a healthy pregnancy, medical care during normal labor to receive pain-killing anesthesia, and postpartum care to ensure she remains healthy afterward. At 16, Indiana law considers a girl old enough to consent to sex, but not old enough until she is 18 to consent to medical care for its consequences.Unless a senator who voted against the bill discovers their heart and calls for a new vote by Tuesday, the measure, Senate Bill 352, is likely dead.The chief sponsor of the bill was Sen. Jean Leising, an Oldenburg Republican who is a nurse and was the author of Indiana’s 1995 anti-abortion bill requiring an 18-hour waiting period and that women be told of the risks and alternatives to abortion. She is, without doubt, pro-life in every sense of the word.To Leising, her bill was just common sense.“Don’t we want healthy babies and healthy moms?” Leising said in her futile final attempt to convince her colleagues to support the bill.Indiana, after all, has a maternal mortality rate of twice the national average. This state has the seventh worst infant mortality rate in the nation. Are those underage teens having babies? Twenty percent — and 30 percent in Marion County — have another baby during the next 18 months.“We are doing a lousy job,” Leising said.But the Senate said no.In the Senate health committee which approved of the measure, the sole no vote came from Sen. Liz Brown, R-Fort Wayne, who argued that the bill was really about girls getting IUDs — a form of contraception — without their parents knowing.You’d think parents of an already pregnant teen would be happy someone would be talking to her about birth control, which federal law allows a teen to get anyhow at any reproductive health clinic. But Leising took contraception out of her bill, so the arguments against it changed to parental rights.In the Senate floor debate, Brown argued that this bill was about erasing parental involvement.“This bill takes away the parents’ right to be the decision maker,” Brown said.And, she added, no one was being denied care.Tell that to the girl so alienated from her parents that she either can’t or won’t tell them she is pregnant, that she is at the emergency room in labor or just released with a newborn. Tell that to the girl whose parents know but don’t care enough to be there for her, or are simply unavailable. Tell that to the girl who, as the parent of a newborn, is the person by law making medical decisions for her baby but can’t make them for herself.And, yes, that girl is being denied care.As physicians told the Senate committee, they cannot give that girl a pain-killing epidural because she legally cannot give consent — no matter how many hours the pain drags on. They cannot proceed with a cesarean section that they can predict will be needed until she is hemorrhaging or her baby’s heart rate has dropped dangerously low and it becomes an emergency. They cannot even prescribe prenatal vitamins that are vital to preventing such devastating conditions in infants such as spina bifida.Because you see, childbirth is not an emergency.“If it is normal labor, under the law right now (physicians) can’t do anything but catch the baby,” Leising said in frustration after the bill failed to pass. “Think about that 16-year-old with 18-hour labor in an emergency room with no parent, no guardian and nothing to ease those contractions.”She questioned whether some people weren’t just punishing these girls for getting pregnant in the first place.“There are some people who would say, ‘By gosh if they are in hard labor they deserve it.’ They would say that’s their punishment,” Leising said. “I am not vindictive like that.”Call it vindictive. Call it short-sighted. Call it anything you want.But don’t call that Senate vote pro-life.FOOTNOTE: Mary Beth Schneider is editor of TheStatehouseFile.com, a news website powered by Franklin College journalism students.Print Friendly, PDF & EmailFacebookTwitterCopy LinkEmailSharelast_img read more

Press release: Report 16/2018: Detrainment onto live track near Peckham Rye

first_imgR162018_181009_Peckham_Rye Newsdate: 9 October 2018 SummaryAt 18:46 hrs on Tuesday 7 November 2017, a London Overground service from Dalston Junction to Battersea Park, operated by Arriva Rail London, came to a stand shortly before reaching Peckham Rye station. A faulty component on the train had caused the brakes to apply, and the driver was unable to release them. There were about 450 passengers on the train.The train driver spoke over the railway radio system to the service controller, train technicians, and the signaller. Following these conversations he began, with the assistance of a member of staff from Peckham Rye station, to evacuate the passengers from the train via the door at the right-hand side of the driver’s cab at the front of the train. This involved passengers climbing down vertical steps to ground level, very close to the live electric conductor rail (third rail) and walking along the side of the line for about 30 metres to Peckham Rye station.Soon afterwards, an operations manager from Govia Thameslink Rail, which manages Peckham Rye station, contacted the member of station staff and realised where they were and what was happening. The operations manager immediately instructed the driver to stop the evacuation, and requested that he contact the signaller and his company’s controller for further instructions. The driver, after further advice from control room based train technicians, isolated various train safety systems, and found that he was eventually able to release the brakes and move the train forward into Peckham Rye station, arriving at about 19:44 hrs. It was then possible for all the remaining passengers to leave the train normally, and it proceeded, empty, to the depot at New Cross Gate. No-one was hurt in the incident.The incident occurred because the driver initiated the detrainment of passengers without the traction current being switched off. He did this because he was given instructions by control room staff who had misunderstood the actual location of the stranded train. The train driver and the signaller did not reach a clear understanding about the actions that were required to safely detrain the passengers. The delay caused unrest among the passengers on the train and contributed to stress and task overload of the driver, which affected his decision making. The driver’s experience and skills did not enable him to cope with these demands, and Network Rail did not effectively implement its own procedures for managing an incident involving a stranded train.Underlying factors were that Arriva Rail London strategic command and Network Rail signalling staff were not adequately prepared to manage the incident, and the railway industry standards and procedures relating to stranded trains place little emphasis on the need for practical training for those involved. The RAIB also observed that there were a number of deficiencies in the training and briefing of staff and in the ARL control room arrangements.RecommendationsThe RAIB has made three recommendations, directed to Arriva Rail London and Network Rail, intended to improve the response of the railway industry to train failures and other abnormal events, and has identified three learning points relating to the importance of following the correct procedures when preparing to evacuate passengers from trains, ensuring that communications are properly understood, and passing on the details of incidents promptly and effectively.Simon French, Chief Inspector of Rail Accidents said:“Minor technical faults on trains are a daily reality on the railways, but sometimes these minor events, if not identified and dealt with promptly, can quickly develop into a potential safety incident. On this occasion misunderstandings and confusion resulted in passengers being told to leave the safety of a train, climb down vertical steps above a live electric rail, and walk in darkness along an overgrown path to a station. About eighty people went through this before the evacuation was stopped, and it is very fortunate that no-one was hurt.“When dealing with this type of incident, a train driver has many tasks to perform, and as we all know stress can sometimes affect our ability to function properly. Unfortunately, over recent years there have been a number of incidents on the railway in which train drivers have not been adequately supported when managing a difficult situation in unfamiliar circumstances. It is essential that on these occasions the signaller, train driver, any other involved staff (whether on the train or on the ground) and the various control rooms all work together to coordinate their activities to ensure the needs of passengers are recognised, and the train driver is supported to ensure that the incident is effectively and efficiently resolved.“Following previous incidents, the railway industry has put in place policies for managing incidents in which trains become stranded. This incident has shown that when things go wrong, these policies may not be effective. One reason for this is that the people who have to put the necessary arrangements into operation do not get the opportunity to practise the procedures. We are recommending that, both locally and nationally, the incident management arrangements should be reviewed, and processes put in place to exercise them regularly. It’s not enough to have a plan – it must work when it is needed, and if it has never been practised the chances are it won’t work.”Notes to editors The sole purpose of RAIB investigations is to prevent future accidents and incidents and improve railway safety. RAIB does not establish blame, liability or carry out prosecutions. RAIB operates, as far as possible, in an open and transparent manner. While our investigations are completely independent of the railway industry, we do maintain close liaison with railway companies and if we discover matters that may affect the safety of the railway, we make sure that information about them is circulated to the right people as soon as possible, and certainly long before publication of our final report. For media enquiries, please call 01932 440015. PDF, 1.83MB, 51 pageslast_img read more

01 Broccoli, cauliflower

first_imgVolume XXXNumber 1Page 1 By William Terry KelleyUniversity ofGeorgiaGet the cheese sauce ready. Broccoli and cauliflower could becoming out of the garden really soon if you get busy. Although these aren’t what you’d call traditional Southernvegetables, growing great broccoli and cauliflower in your gardenis a definite possibility in Georgia. Throughout the Southeast,both crops can be grown during certain times of the season.In much of the Southeast, temperatures are too cold in midwinterto grow them 0well, since both crops can suffer freeze damage. Andit’s too hot in midsummer, as the heat reduces quality. In thehigher elevations, however, midsummer is peak production time.When to plantIn the Georgia coastal plain and piedmont, plant broccoli andcauliflower from early February through early April, depending onwhere you live. This would bring in harvests during mid-Aprilthrough June.For fall crops, plant them from August through mid-September forharvest in October through early December. In the higherelevations, plant the crops in April to July for harvest in Junethrough September.Many varieties of both broccoli and cauliflower have been shownto perform well in Georgia. “Packman” and “Premium Crop” are twotried-and-true broccoli varieties for home garden use.Many cauliflower varieties are self-blanching and don’t have tobe banded to produce a white-curded head. “Candid Charm” and”Snowball Y” are widely adapted cauliflowers.There are varieties, however, that tolerate temperature extremesbetter than these.How to plantBoth crops can be direct-seeded or transplanted, buttransplanting is best in the Southeast to gain time in thegrowing window and produce more uniform stands.Broccoli and cauliflower can be grown on a wide array of soiltypes. Both crops require irrigation for peak production.Planting densities vary between the crops. Broccoli can beplanted in double rows on 38- to 42-inch centers, with plantsspaced 6 inches apart. Cauliflower, though, is usually planted insingle rows with an in-row spacing of about 12 inches.Fertilize broccoli and cauliflower much as you would cabbage, asboth require a fairly heavy rate of nitrogen. Use rates of 6.5 to7.5 ounces per 100 square feet with both crops. For soils testingmedium for phosphorus and potassium, 4 ounces of each per 100square feet should suffice.Split the totals into thirds and apply the first at planting andthe second and third about three weeks apart.How to harvestThe most rewarding part of any garden crop is the harvest. Handlethese crops with care, though. They’re quite perishable and mustbe cooled fairly quickly after harvest. If you don’t cool themquickly to 32 degrees Fahrenheit, the quality will begin to breakdown. Cauliflower is even more tedious — handle it cautiously tokeep from bruising the curds.Grow broccoli to a central main head 3 to 4 inches across beforecutting it. The plant will regrow many smaller heads if you keepcaring for it. You can cut these smaller heads as they mature.They won’t reach the size of the central head, but still make fora good second crop. Cut broccoli with about 5 inches of stem onit.Cut cauliflower when the curd is 4 to 6 inches across, and trimthe leaves.(Terry Kelley is an Extension Service horticulturist with theUniversity of Georgia College of Agricultural and EnvironmentalSciences.)last_img read more

3 ways to win the war for board talent

first_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Pembroke Since joining CUES in March 2013, John Pembroke has played a leadership role in developing and launching a new direction in CUES’ strategy, branding and culture. Under his guidance, CUES … Web: www.cues.org Details There’s an old adage that if you want to get something done, find someone busy to do it. And there’s a limited supply of those busy people.Put those two ideas together and you’ve got a pretty clear picture of credit union board recruitment today. CUs must recruit directors from the limited pool of busy people who get things done that every other organization and company is also targeting.The million-dollar question is: How can your credit union stand out? I suggest taking the following steps:1. Assess your current board and know your strategy for the future. Study the expertise you have now, define the expertise you need to lead your credit union to future success—and look to close the gap. When you know what you need, you can communicate it to potential directors and, hopefully, boost their enthusiasm for joining you. Notably, CUES offers a director skills assessment that can help.2. Up your governance game. Just as employees hate working for a company with a bad culture, potential directors are more likely to accept an invitation to join your board if you’re known for applying governance best practices. Use our Board Governance Assessment to gauge how you’re doing now—then invest in board learning and development that will bring you along the curve.3. Get creative about where you look for directors. The knee jerk reaction in board recruitment is to look to people you already know—but that may not always be the best approach. Connecting with community organizations, asking your staff and visiting local college campuses can all be ways to find new directors. If your credit union is trying to diversify its directors to match its diversifying membership or open your credit union to new membership opportunities, it’s even more important to expand your vision of recruitment. CUES Unlimited and Unlimited+ membership includes the Director Onboarding Tool Kit.Compared to boards overall, I’d say credit union boards are more progressive and already stand out. But the bigger question is, “Are they where they need to be to advance credit unions into the future?” No. They need to continue to evolve to ensure CUs achieve their missions and visions—and match the diversifying market opportunity.last_img read more

Trial predicts 2 H1N1 shots for young kids, 1 for older

first_imgSep 21, 2009 (CIDRAP News) – The earliest results from testing of a pandemic H1N1 vaccine in children suggest that older children will get a good immune response with a single dose, but children younger than 10 are likely to need two doses a few weeks apart, federal officials said today.The early findings, based on blood samples taken just 8 to 10 days after vaccination, demonstrate a response “strikingly similar” to children’s responses to seasonal flu shots, said Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID), which sponsored the trial.Seventy-six percent of children between 10 and 17 years old had a “robust” immune response to one 15-microgram (mcg) dose of the injectable vaccine made by Sanofi Pasteur, Fauci reported, calling the result “quite good.” That dose is what’s used in seasonal flu shots.But among 3- to 9-year olds, the proportion with a good immune response (hemagglutination inhibition titer of 1:40) dropped to 36%, and in children between 6 and 35 months old it was 25%, he reported.”The initial results are encouraging,” Fauci said at a press briefing this morning. “As we had hoped, in the children the 2009 H1N1 vaccine is acting just like the seasonal flu vaccine.”The data suggest that one dose would be enough to generate a protective immune response in 10- to 17-year-olds but that younger children may need two doses, depending on their health history, Fauci said.Advice from the Centers for Disease Control and Prevention (CDC) on seasonal flu vaccination for children from 6 months through 8 years old is that they should receive 2 doses if they have not had a flu shot before or had only one dose the previous season.Fauci said no serious or unusual side effects were reported in the trial.The report comes less than 2 weeks after preliminary findings in other clinical trials showed that adults had a strong immune response to single doses of H1N1 vaccines made by Novartis, CSL Ltd., and Sanofi. Trial results for MedImmune’s nasal spray vaccine are still awaited.Federal officials have been saying that young children will probably need two doses of H1N1 vaccine. That raises the prospect of some young children needing two doses of H1N1 vaccine and two doses of seasonal flu vaccine this fall to be considered fully immunized, Fauci acknowledged today.Although trial results for the nasal-spray (live attenuated) vaccine have not yet been announced, Dr Jesse Goodman of the Food and Drug Administration (FDA) said today, “I think it is likely that younger children may need a second dose with that vaccine as well.” The FDA last week approved the H1N1 live attenuated vaccine (LAIV) for children starting at age 2 and adults through age 49 (but not pregnant women).Dr. Anne Schuchat of the CDC said children could receive seasonal and H1N1 vaccine injections on the same day, if both are available, but the CDC does not recommend that they get nasal-spray versions of H1N1 and seasonal flu vaccine on the same day.”It’s this question of how the immune system deals with a live flu virus,” she said. “This additional H1N1 we don’ think can be a separate one given the same day.””Seasonal flu vaccine is already available, so parents can start getting children vaccinated now,” Schuchat said. “I suggest starting now on seasonal.”The CDC predicted on Sep 18 that the first H1N1 vaccine doses to become available will be the MedImmune product, with 3.4 million doses expected to reach providers the first week in October. About 45 million to 50 million doses of vaccine, both injectable and LAIV, are expected to reach providers in mid October.For children getting two doses of H1N1 vaccine, the recommended interval between them will probably be 21 days, the time used in the clinical trial, Fauci said.He said the preliminary trial results showed no significant difference in immune responses to the 15-mcg and 30-mcg doses. “We have to remember that that was at 8 to 10 days . . . but at first blush there was not a significant difference.”The immune response to the vaccine will probably continue for several weeks following vaccination, the NIAID said.The trial involved a total of nearly 600 children, but because there are three age-groups and two dosages, the findings reported today are based on small fractions of the total, the NIAID said. For example, there were 20 children between 6 and 35 months old and 25 3- to 9-year-olds who received a 15-mcg dose.Officials did not say today whether they compared immune responses separately for those young children who had ever had a flu shot before and those with previous flu vaccinations. Online information about the trial says that children were excluded from the study if they had a flu immunization within the previous 4 weeks, but it does not mention excluding children with a less recent history of flu immunization.Another NIAID-sponsored trial is looking at children’s responses to H1N1 and seasonal flu vaccines when given at the same time or sequentially. Fauci said it will probably take until November to get “meaningful” results from that trial.See also:Sep 21 NIAID press releasehttp://www.niaid.nih.gov/news/newsreleases/Archive/2009/Pages/H1N1PedTrial.aspxAug 18 NIAID press release on launch of trialsClinicalTrials.gov description of trialhttp://clinicaltrials.gov/show/NCT00944073last_img read more

Indonesian badminton power duos Kevin-Markus, Hendra-Ahsan claim All England quarterfinal spots

first_imgFan favorite duos Kevin Sanjaya Sukamulja and Markus Fernadi Gideon and Mohammad Ahsan and Hendra Setiawan have claimed two spots in the 2020 All England quarterfinals. In Friday’s quarterfinals at the Arena Birmingham, the top seed Indonesian pair is set to play against eighth seed duo Aaron Chia and Soh Wooi Yik of Malaysia. Meanwhile, second seed pair and defending champions Ahsan and Hendra are to face sixth seed duo Hiroyuki Endo and Yuta Watanabe of Japan. In the second round on Thursday, Kevin and Markus, popularly known as the “Minions”, defeated China’s Ou Xuan Yi and Zhang Nan, while Ahsan and Hendra, nicknamed “The Daddies”, outclassed Takuro Hoki and Yugo Kobayashi of Japan.Ahead of the quarterfinal battle, Kevin praised the Chinese pair’s abilities. “We need to perform our best and stay focused right from the beginning of the match,” he said in a statement. (gis)Topics :last_img read more

BCA sees jump in digital banking services amid pandemic

first_imgBank Central Asia (BCA) has seen a jump in its digital banking transactions amid the COVID-19 pandemic as it works to ramp up its new digital banking arm.BCA, the largest private bank in Indonesia, recorded a 91 percent annual rise in the number of mobile banking transactions to 1.29 billion, while the number of internet banking transactions increased by 24 percent year-on-year (yoy) to 740 million in the first quarter, company data show.The total value of the transactions reached a staggering Rp 3.38 quadrillion (US$2.28 trillion), or more than 45 percent of the bank’s total transactions, almost matching the value of transactions via the bank’ branches of Rp 3.5 quadrillion. “BCA supports the physical distancing policy during the COVID-19 pandemic through its Banking from Home campaign, in which we provide banking services through various online channels. We have seen an increase in mobile and internet banking transactions [during the period],” BCA president director Jahja Setiaatmadja said in a livestreamed press briefing on Wednesday.Read also: COVID-19: Indonesian banks face challenging time but hopes remainTransactions via ATMs and branch offices, at the same time, were down by 1 percent and 5 percent, respectively. As a result, its non-interest income soared 25.5 percent yoy to Rp 5.9 trillion, while its net interest income jumped 14.1 percent to Rp 13.68 trillion during the first quarter. The bank reported that its net profit grew by 8.6 percent to Rp 6.58 trillion in this year’s first three months. BCA is known for its technology and digital breakthroughs in Indonesia’s banking industry. It is now working to complete the acquisitions of privately-owned Rabobank International Indonesia and Bank Royal Indonesia. The latter is projected to become BCA’s digital bank, namely Bank Digital BCA, the soft launching of which is to be held in the second half.“Bank Royal still needs [the authority’s] approval to be a digital bank, while the acquisition of Rabobank is still being completed,” he said, stressing that BCA currently had no plan to acquire other banks.BCA concluded in 2019 its acquisition of Bank Royal for Rp 1.01 trillion in an effort to expand its digital banking business and focus on certain customer segments.BCA reported on Wednesday that its loan disbursement grew 12.3 percent annually to Rp 612.16 trillion as of March, while third-party funds (DPK) added 16.8 percent to Rp 741.02 trillion. Its non-performing loan (NPL) ratio stood at 1.6 percent, slightly up by 10 basis points (bps) compared to the corresponding period last year.Read also: Government to help pay interest on mortgages, car loansJahja admitted that his company had seen a downturn in consumer loans, as mortgages, vehicle loans, credit card and employee loans decreased, and the situation would most likely continue.The coronavirus outbreak has disrupted Indonesia’s banking industry as various businesses were forced to shut due to slowing demand, while millions of people are out of work, slowing loan disbursement and jeopardizing credit repayments.Financial Services Authority (OJK) data reveal that loan growth stood at 7.95 percent yoy in the first quarter, higher than the 6.08 percent recorded at the end of last year. However, no new loan demand was recorded in the period, as the growth came from the disbursement of existing credit facilities.“It is not the right time to push for consumer credits, especially with customer’s dwindling purchasing power and a significant amount of loans being restructured recently,” Jahja said.BCA as of mid-March has been processing loan restructuring worth between Rp 65 trillion and Rp 82.6 trillion, or 10 percent to 14 percent of its total loan portfolio, from around 72,000 debtors following the government’s stimulus to support businesspeople and consumers affected by the pandemic.It expects the restructuring figure to increase to around 20 percent to 30 percent of its total loan in the next few months.Read also: Banking shares under pressure as investors avoid risk amid gloomy outlook“BCA has relatively little loan outstanding that is directly linked to COVID-19,” Mirae Asset Sekuritas Indonesia analyst Lee Young-jun wrote in a research note published on April 2.“In addition, BCA revealed that it has less than 5 percent exposure on foreign exchange loans and less than 1 percent of capital in net open foreign position,” Lee said. BCA’s shares, traded at Indonesia Stock Exchange (IDX) under the code BBCA, were up 6.65 percent on Thursday, handily outperforming the exchange’s main gauge, the Jakarta Composite Index (JCI), which was up 1.61 percent.Topics :last_img read more