JAKARTA (TheInsiderStories) – Good morning. We offer you several relevant news that might help your business decisions today:

SOE Ministry Shakes Up Money Printing Firm Board Peruri

Ministry of State Owned Enterprises (SOEs) shakes up board of directors of Perum Peruri, stated owned paper money printing company. Dwina S. Wijaya, was appointed as new President Director of the company, replacing Prasetio. Dwina was previously special staff of the SOEs Minister Rini Suwandi and also former president director of PT Bahana Pembinaan Usaha Indonesia (BPUI). She has spent her carrier at Bahana since 1994, starting from Portfolio Manager at PT Bahana TCW Investment. In the nine months to September, Perum Peruri booked revenues of Rp2.25 trillion, up 45.32 per cent from the same period last year at Rp1.55 trillion. Its net profit in the nine months period surged 423.8 percent to Rp283.2 billion from Rp54.06 billion a year earlier.

Asrul Rose Named as Acting CEO of Angkasa Pura I

Director of Operational of state owned airport operator PT Angkasa Pura I Wendo Asrul Rose has been appointed by the company’s commissioners board as acting president director of the company following the demise of the company’s president director Danang S. Baskoro last week.Corporate Secretary of Angkasa Pura I Israwadi said in a statement that the decision was effective since Nov. 20. The executives have expressed a great loss over the demise of Danang Baskoro.

40 Investors Eyeing Lake Toba

Lake Toba Tourism Authority official Faisal said that 40 investors are eyeing Lake Toba tourism, 27 of whom hail from China and Singapore. Indonesian government needs Rp11 trillion private investment to develop Lake Toba tourism in North Sumatra. Chinese and Singaporean investors have expressed their interest to develop supporting facilities in the tourist attraction. The Lake Toba Tourism authorities estimated that Rp21 trillion will be needed until 2019 to develop the area. The government is only expected to raise Rp10 trillion, whereas the remaining Rp11 trillion will be generated by private firms.

Indonesian FSA Loosen Investment Instrument

Indonesian Financial Services Authority (OJK) has proposed to relax taxes on several investment instruments in the stock market in order to support infrastructure development and attract investors. OJK commissioner for capital market supervision Hoesen said on Friday, Nov. 17, the tax relaxation include corporation obligations, private equity funds, real estate investment funds, asset-backed securities and infrastructure investment funds.

Sumber Alfaria Builds 340 Stores in Philippines

PT Sumber Alfaria Trijaya Tbk (IDX: AMRT) has built 340 Alfamart minimarket stores in the Philippines. President director Anggara Hans Prawira stated that The company aims to open of 1.000 stores next year. He explained that cooperation in a form of joint venture is made with a business partner in the Philippines. Hans added that it requires Rp1.3 trillion of funds to establish an Alfamart store in the country.

Widodo, Najib Wikk Deliberate Trans-boundary Trade Activity

During the 12th Annual Consultation Between Malaysia and Indonesia on Nov 22, Indonesian President Joko Widodo and MalaysianPrime Minister Datuk Seri Najib Razak are expected to deliberate on trans-boundary trade activities and the development of tourism sector involving both countries. It is also learnt that the two leaders are also expected to discuss on the move by European Union linking palm oil industry with deforestation, which would adversely affect the welfare of 17.5 million and 600,000 smallholders in Indonesia and Malaysia respectively. Indonesia is committed in fulfilling the trade value target for Malaysia and Indonesia of US$42 billion.

Indonesian FSA Will Create Fintech Center

Indonesian Financial Services Authority (FSA) chairman Wimboh Santoso said the regulator and the government will create a fintech center to support the development of digital economy. He said the fintech center aims at fostering and overseeing all fintech companies in Indonesia. This is to prevent holes in the arrangement and supervision of the fintech industry.tomers. Wimboh said there are currently 24 peer-to-peer (P2P) lending companies with permits. Sixteen of them are local companies and eight are international. Thirty-one more P2P lending companies have also applied to get licenses from the regulator

Indonesia Asks U.S to Cancel Countervailing Duty on Biodiesel

Indonesia has called on the United States to cancel its final decision on the enforcement of a countervailing duty on Indonesian biodiesel products, by imposing tariffs of between 34.45 to 64.73 per cent. Trade Minister Enggartiasto Lukita said in a statement Indonesia would consider filing a complaint to the US courts and the WTO’s dispute settlement body over the anti dumping measure taken by the United States Department of Commerce on Nov. 9.

Matahari Closes Two More Stores

PT Matahari Department Store, a largest retailer store, said it will close two more outlets this year as it will not extend its lease at Taman Anggrek mall in West Jakarta or Lombok City Center in Lombok Regency, West Nusa Tenggara. Mahatari said it would close the Taman Anggrek outlet because it did not agree with the building’s management over the layout of the space, while sales at Lombok City Center had performed poorly.

 

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