JAKARTA (TheInsiderStories) — Good Morning! Lion Air JT-610 PK-LQP that crashed and killed 189 people on-board last October, had several failures since three days prior to the incident, said Indonesia’s National Transportation Safety Committee.
In the preliminary findings over the crash, the agency reported Boeing 737 Max-8 airplane maintenance data book showed there were six disruptions related to speed indicator and plane elevation.
Moreover, black box’s flight data recorder (FDR) documented that the aircraft’s nose fell automatically for 24 times in 11 minutes flight. Both pilot and co-pilot had done some efforts to bring back the plane to its precondition, before finally lost control.
The plane then nose dove with 700 kilometers per hour-speed and slammed the sea. To report the findings, the investigation team will visit The Boeing Company in Seattle, United States.
They will show and reconstruct the facts found in FDR. Not only to discuss with Boeing, the agency will also talk with National Transportation Safety Board. The discussion result will later be analysed for sanction recommendation to Lion Air.
While, facing a challenging year ahead, several companies tried to enlarge its business. Indonesia’s biggest private-owned bank, PT Bank Central Asia Tbk (IDX: BBCA) will finalise acquiring two banks with capital below Rp1 trillion (US$69.03 million), in the beginning of 2019.
Two schemes prepared for the acquisition. First, BBCA will take over the bank to be merged. While second, the bank will acquire another small bank for digital banking development.
Furthermore, PT Semen Indonesia Tbk (IDX: SMGR) targeted to finish taking over 80.6 percent shares of PT Holcim Indonesia Tbk (IDX: SMCB) valued $917 million, in January 2019. The acquisition aims to increase company’s operational performance, widen domestic factories network, and increase market share and revenue in long term.
Supporting clean energy, Ministry of Energy and Mineral Resources targeted rooftop solar power plant installation can reach one gigawatt in three years. By regulation Number 29 Year 2018 about roof solar power plant system usage, government hoped that electricity state-owned company PT Perusahaan Listrik Negara (PLN) consumers will put solar panel rooftop on their houses.
According to PLN, now there are 533 users have solar panel rooftops. The number increased by 64 percent in the last 10 months.
While, the Special Task Force for Upstream Oil and Gas Activities has now obtained permission from the government to open 1,316 kilometers of seismic line and 368 key wells throughout Indonesia. At present there are five data assessment teams divided into Sumatra, Natuna, Java, Kalimantan, and Eastern Indonesia teams. This team consists of geologists and geophysicists in Indonesia.
It is expected that with the opening of the data can attract investors and researchers to find giant discovery. The agency is doing this to support the investment climate of upstream oil and gas in Indonesia more accurate.
Furthermore, Rupiah weakened by 0.21 percent after days of power gain to14,535 versus US dollar. Followed, the Jakarta Composite Index turned back to below 6,000, declined by 0.37 percent to 5,991.24.
Infrastructure, utilities, and transportation sector suffered biggest lost by 2.33 percent. While mining sector peaked highest by 1.03 percent. Foreign net sell at Rp 235.29 billion has accumulated Rp 44.87 trillion year-to-date outflow.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please visit our new website to get more insight on Indonesia’s economy: www.tisintel.com
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