GARUDA

Adds energy and agriculture details paragraph 2, minister's quote in paragraph 6, Garuda's talks with Boeing in paragraph 9-11

By Stefanno Sulaiman

JAKARTA, July 3 (Reuters) - Indonesia will sign a pact worth $34 billion with business partners next week to boost purchases from the U.S., as part of efforts to strike a trade deal with Washington ahead of the July 9 deadline, Indonesia's chief economic minister said on Thursday.

The deal would include increasing imports of fuels and investment by Indonesian companies in energy and agriculture sectors in the U.S. Separately, flag carrier Garuda Indonesia GIAA.JK also said it is in talks to buy up to 75 jets from Boeing BA.N.

Jakarta is facing a 32% tariff in U.S. markets and has previously offered to increase U.S. imports to facilitate trade talks between the two sides.

Indonesia enjoyed a goods trade surplus of $17.9 billion with the United States in 2024, according to the U.S. Trade Representative.

Speaking to journalists, Minister Airlangga Hartarto said the memorandum of understanding due to be signed on July 7 will deploy the $34 billion for new Indonesian investments and purchases in the United States.

"This shows that government, regulators, state-owned enterprises and the private sector are together in responding to the imposition of U.S. reciprocal tariffs," Airlangga said.

He said that by addressing the trade balance with the United States, Indonesia hoped to get a better trade deal than the one struck with Vietnam.

The U.S. announced on Wednesday that it will place a lower-than-promised 20% tariff on many Vietnamese exports, down from the original 46% announced by President Donald Trump in April.

Meanwhile, Garuda's potential jet purchase may include 737 Max 8 and 787 jets, its chief executive Wamildan Tsani told reporters after meeting Airlangga.

It was unclear whether Garuda's discussion with Boeing is part of the tariff negotiations.

The airline is struggling to recover from the impact of the pandemic. It secured a $405 million loan from sovereign wealth fund Danantara Indonesia in June for maintenance, repair and overhaul of its fleet.

(Reporting by Stefanno Sulaiman; Writing by Gibran Peshimam, Fransiska Nangoy; Editing by David Stanway, William Maclean)

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June 17 (Reuters) - Garuda Construction and Engineering Ltd GARR.NS:

• GARUDA CONSTRUCTION - APPROVES INVESTMENT OF SAR 1 MILLION IN SAUDI SUBSIDIARY

Source text: ID:nNSE6cRgzK

Further company coverage: GARR.NS

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Jan 16 (Reuters) - Garuda Construction and Engineering Ltd GARR.NS:

• SECURES ORDER VALUED AT 10.87 BILLION RUPEES

• ORDER BOOK AT 28.30 BILLION RUPEES

Source text: ID:nNSEbsMjF7

Further company coverage: GARR.NS

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** Garuda Construction and Engineering GARR.NS soars as much as 27.4% to 120.99 rupees on its first day of trading

** Stock opened at 103 rupees, nearly 11% higher than its IPO price of 95 rupees

** GARR's IPO consisted of up to 18.3 mln shares for fresh issue and up to 9.5 mln equity shares

** IPO proceeds will be used for general corporate purposes and unidentified acquisitions

** Co's IPO was oversubscribed by 7.6 times, as per exchange data

** Analysts at KR Choksey Research said co's P/E ratio is slightly above peers, adding that co is well positioned to benefit from India's growing industrial, residential, and commercial demand

** Stock last up 19%

(Reporting by Manvi Pant in Bengaluru)

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