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Friday, April 20, 2018
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Desk Editor

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Moody’s Upgrades Ratings of Nine Indonesian Financial Institutions to Baa2

Singapore, April 13, 2018 -- Moody's Investors Service has upgraded the ratings and, where applicable, the deposit, issuer and senior unsecured debt ratings of nine financial institutions in Indonesia which include seven banks and...

Moody’s Upgrades Pertamina, Telkom, WIKA Ratings

Moody's Investors Service has taken a number of rating actions on non-financial corporates in Indonesia that are also government-related issuers. The rating actions follow its earlier announcement that it has upgraded Indonesia's sovereign rating...

Allianz X Invests $35 Million in Ride Hailing Platform GO-JEK

JAKARTA (TheInsiderStories) – Allianz X, the digital investment arm of the Allianz Group, has announced a $35 million investment in Indonesian ridehailing platform GO-JEK, the company said in a statement on Wednesday (04/12). This investment...

General Insurer Asuransi Tugu to Sell 15% Stake via IPO

JAKARTA (TheInsiderStories) – Indonesian general insurer PT Asuransi Tugu Pratama Indonesia, which is majority-controlled by state-owned energy company PT Pertamina, will offer 282.35 million new shares to the public through an initial public offering...

Gerindra Declares Prabowo the Candidate for President

JAKARTA (TheInsiderStories) – The Great Indonesia Movement Party, known as Gerindra, has officially announced its founder Prabowo Subianto as the party's candidate for Indonesia's president in the 2019 election, raising the prospect of a...

U.S Farallon Would Buy Bank Permata’s Shares?

JAKARTA (TheInsiderStories) - American investment company Farallon Capital Management L.L.C. is reportedly seeking to buy a 44.6 percent stake in local lender PT Bank Permata Tbk (IDX: BNLI) from U.K's Standard Chartered PLC, local...

Forex Reserves Down by $2.06 Billion to Stabilize Rupiah

JAKARTA (TheInsiderStories) — Indonesia's foreign exchange reserves declined by $2.06 billion to $126.0 billion at the end of March as the central bank had to stabilize the rupiah exchange rate and the government had...

Ride Hailing Apps Must Register as Transport Companies in Indonesia

JAKARTA (TheInsiderStories) – Indonesia is making it mandatory for ride-hailing applications providing four-wheeled-vehicle rides to register as transport companies within two months, as the government is taking a firm stance to recognize their legal...