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North Korean Economy in Crisis as UN Imposes Tough New Sanctions

by Rajiv Biswas, Asia Pacific Chief Economist for IHS Markit The United Nations Security Council passed Security Council Resolution 2371 on 5 August to impose tough new economic sanctions on North Korea that would completely...

North Kalimantan Govt: We Need Sustainable Economy

JAKARTA (TheInsiderStories) - As a new and the youngest province in Indonesia, North Kalimantan needs big investment, especially infrastructure to accelerate the development. However, the North Kalimantan try to make a difference with the surrounding...

Kroll : Intra-regional M&A drives competition and integration in the ASEAN

In 2016, ASEAN saw 534 deals worth US$57.9bn; Q1 2017 kept momentum with 118 deals worth US$14.7bn JAKARTA (TheInsiderStories) – In Q1 2017, the ASEAN recorded 118 deals worth US$14.7bn, sustaining the momentum of the...

Moody’s upgrades Chandra Asri to Ba3; outlook stable

Singapore, August 03, 2017 -- Moody's Investors Service has upgraded the corporate family rating (CFR) of Chandra Asri Petrochemical Tbk (P.T.) to Ba3 from B1. The outlook on the ratings is stable. RATINGS RATIONALE "The upgrade of Chandra Asri's...

Have Indonesian Government Regulation Friendly Enough for Renewable Energy’s Investor?

JAKARTA (TheInsiderStories) - Indonesia is expected to face an energy crisis by 2020-2030 due to its inability to generate enough clean energy to meet the electricity needs of its growing urban population and industries. That’s why government...

Ego Syahrial Serves as Director General of Oil and Gas

JAKARTA (TheInsiderStories) - Ego Syahrial was sworn as Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (MEMR), replacing I Gusti Nyoman Wiratmaja Puja, who serving since 2015. Ego previously...

ABM Investama Secures US$300 Million from Global Bond Issuance

JAKARTA (TheInsiderStories) - Publicly listed coal miner, PT ABM Investama Tbk (IDX: ABMM) secured US$300 million fresh funds from global bond issuances, said the company in the press statement. The appetite of global investors...

State Budget: The Risk Increases, Fiscal Reform Need Consistency

JAKARTA (TheInsiderStories) - Indonesian Government decision to revise the 2017's State Budget have a challenge from the revenues and spending side. Need a fiscal reform and consistency to reach all the major targets base...

Indonesia’s Palm Oil Exports ‘To Hit Record’ in 2017-18

JAKARTA (TheInsiderStories) - Indonesian palm oil exports will hit a record, lifted by better-than-expected production, and a boost to demand from the spring retreat in prices, agrimoney reported. The US Department of Agriculture's Jakarta bureau hiked...

Local Content Rules Will Be Reinforces to Reduce Import

JAKARTA (TheInsiderStories) - Indonesia government will issue a presidential decree to improve the policy of local content level to reduce imports as well as developing import substitution industry, senior official said. Coordinating Minister for Maritime...

Indonesia Recorded Inflation of 0.22 Percent in July 2017

JAKARTA (TheInsiderStories) - Indonesia recorded Consumer Price Index (CPI) of 0.22 percent in July 2017 as shrinking of inflation pressure after Ramadhan and Eid al-Fitr, Central Bureau of Statistics (BPS) reported. Last month, the...

Moody’s: Asia Pacific Corporates To See Stable Rating Trend in 2H 2017

Hong Kong, July 31, 2017 -- Moody's Investors Service says that the stable rating trend for non-financial corporates in Asia Pacific during 2Q 2017 (the three months ended 30 June 2017) will likely continue through 2H 2017...

East Java Offers US$4 Billion Suramadu, Madura Projects

JAKARTA (TheInsiderStories) - Local Government of East Java through The Surabaya-Madura Regional Development Board (BPWS) offered new projects worth Rp53.1 trillion (US$4 billion) to investors, an official said on Monday (31/7). The projects located in...

Moody’s places Gajah Tunggal’s ratings on review for upgrade on refinancing plan

Singapore, July 31, 2017 -- Moody's Investors Service has placed the Caa1 corporate family rating (CFR) of Gajah Tunggal Tbk (P.T.) and the Caa1 rating on its $500 million senior secured notes due February 2018 on review...

Traveloka Raises New Funding US$500 Million from Expedia, Others

JAKARTA (TheInsiderStories) - Indonesian travel apps, Traveloka announced that the company has raised approximately US$500 million through investments from global online travel leader Expedia, Inc. (NASDAQ: EXPE), East Ventures, Hillhouse Capital Group, JD.com and Sequoia...

Singapore, Indonesia Prepares Six Investment Partnerships

JAKARTA (TheInsiderStories) - Singapore and Government of Indonesia preparing six investment partnership to improve the bilateral relationships between the two countries. The annual bilateral meeting will be held in Singapore this September Darmin Nasution, Coordinating Minister for...

BUMI Raises US$2.63 Billion From Rights Issue, MCB

JAKARTA (TheInsiderStories) - Publicly listed coal miner PT Bumi Resources Tbk (IDX: BUMI) raised Rp35.09 trillion (US$2.63 billion) from rights issue and mandatory convertible bonds (MCB) issuance, said the company on Friday (28/7). Previously, Bumi Resources has...

Moody’s assigns first-time Baa3 rating to Minejesa Capital’s USD senior secured notes

Singapore, July 25, 2017 -- Moody's Investors Service has assigned a Baa3 rating to the proposed backed senior secured USD notes of Minejesa Capital BV (MCBV) due 2030 and 2037 in two tranches. The...

Exclusive Contract for Freeport? Mulls to Offer 10% on IDX

JAKARTA (TheInsiderStories) -  While U.S minerFreeport-McMoRan Inc. (FCX) said it opts to stop its investment in Indonesia operation if its Indonesia's entity, PT Freeport Indonesia (FI) failed to reach deal with the Government of Indonesia....

Fed Leaving Rate Unchanged Followed Other CBs

JAKARTA (TheInsiderStories) - U.S Federal Reserves (The Fed) decided to maintain the target range for the federal funds rate at 1 to 1-1/4 percent, said the central bank on Wednesday (26/7). The action followed...

Moody’s: Global green bond issuance tops new record of $32.2 billion in Q2

New York, July 26, 2017 -- While market growth slowed, global green bond issuance achieved a new record during the second quarter, Moody's Investors Service says in a new report. Second quarter (Q2) volumes...

CT Corp Targets Become The World Player

JAKARTA (TheInsiderStories) - Conglomerates and Indonesian businessman Chairul Tanjung has told his dream of magnitude in building a business empire CT Corpora over the next five years. Not satisfied with the coffers of businesses he produces,...

Investment Realization Jumped 12.9% to US$25.3 billion in H1

JAKARTA (TheInsiderStories) - Indonesia Investment Coordinating Board (BKPM) announced the realization of investment in firs half (H1) of 2017 worth of Rp336.7 trillion (US$25.31 trillion). The value higher 12.9 percent compared to H1 2016...

IMF Sees Global Economic Recover

JAKARTA (TheInsiderStories) - International Monetary Funds (IMF) reported the global economic outlook remains on track, with global output projected to grow by 3.5 percent in 2017 and 3.6 percent in 2018. The unchanged global growth projections mask somewhat...

Moody’s affirms Astra Sedaya’s ratings at Baa3; outlook stable

Singapore, July 24, 2017 -- Moody's Investors Service has affirmed Astra Sedaya Finance (P.T.)'s (ASF) Baa3/P-3 long/short-term foreign- and/local currency issuer ratings. The ratings incorporate its baseline credit assessment (BCA) of ba2, which Moody's also affirmed...

Govt, Freeport Deals on Contract Extension and Smelter Development

JAKARTA (TheInsiderStories) - The Ministry of Energy and Mineral Resources (MEMR) has reached agreement with Freeport Mcmoran Inc. (NYSE: FCX) for further operation its Indonesian unit. The agreement comprises of the smelter development completed before Jan,...

China DIDI, South Korean SoftBank Invests US$2 billion in Malaysian Grab

JAKARTA (TheInsiderStories) – China Didi Chuxing, ride-sharing firm and South Korean SoftBank Group Corp., a technology driving the Information Revolution, will invest up to US$2.0 billion to lead Grab’s current financing round. In the written statement...

Ten Subsidiaries of SOEs Ready Go IPO, GMF Seeks US$300 Million

JAKARTA (TheInsiderStories) - Nine subsidiaries of state-owned enterprises (SOEs) ready to go IPO (initial public offering) followed President Joko Widodo instruction to utilize capital market to get fresh funds. Minister of State-Owned Enterprises Rini Soemarno confirmed her...

Indonesia Household Spending is Struggling But Good for the Long Term

JAKARTA (TheInsiderStories) - The weakening of people's purchasing power is now a concern. The economic recovery process expected to start this year have not been reflected by strong household spending. In the first quarter (Q1) of...

ECB, BoJ, BI Hold Rates, Fed to Follow?

JAKARTA (TheInsiderStories) - Indonesia's central bank (BI) left its benchmark 7-day reverse repo rate unchanged at 4.75 percent on July 20th 2017, for past ten consecutive months, in line with market expectations. Policymakers said the decision...