Wednesday, May 22, 2019
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Desk Editor Insider

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Breaking News: Police Detain Six People with Firearms amid Election Results Riot

JAKARTA (TheInsiderStories) — Seeing alleged orchestrated anarchy, Indonesian Police have detained six people along with their firearms, who aimed to create chaos in the vote election results protest. The seized firearms include M4 Carbine...

Indonesian Election Still Overshadow Stock Market, Currency

JAKARTA (TheInsiderStories) – Indonesian General Election results have not yet affected the Jakarta Composite Index (JCI) and the Rupiah exchange rate in the long term, although since the end of last year JCI has...

Breaking News: Widodo Claims Victory, Subianto Refuses GEC Decision

JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo immediately declared his victory following the announcement of General Election Commission (GEC) late Tuesday (05/21). But, his contender Prabowo Subianto was rejected the resulted. The commission had announced,...

Breaking News: Subianto’s Supporters Arrested Ahead Mass Rally

JAKARTA (TheInsiderStories) - Indonesian politics heated up after the National Police arrested and named suspects in a number of vocal opposition supporters on treason charges. They are lawyer Eggi Sudjana, ex-general Kivlan Zain and...
Indonesia Assesses the Policy of Financial Liquidity Loan Collaboration

Finance Minister Send Challenging 2020’s State Budget to House

JAKARTA (TheInsiderStories) — Indonesia Finance Minister Sri Mulyani Indrawati officially submitted state revenue and expenditure budget draft for 2020 to House of Representatives, on Monday (05/20). In the draft, macro assumptions set are not...

Saudi Arabia Asks Oil Producers Lowering the Production

JAKARTA (TheInsiderStories) - Delicate situation of oil price made Saudi Arabia recommended oil producer countries to gently driving oil inventories down. It sees no need to boost production quickly now, with oil at around US$70 a...
Indonesian Bank to Maintain Benchmark Rate at 6% and Implements Mix-Policy

Bank Indonesia Accelerates Commercial Bonds Transactions

JAKARTA (TheInsiderStories) – Bank Indonesia (BI) accelerated the issuance and transactions of commercial bond instruments as a source of non-banking short-term funding, said the deputy today (15/17). It aims to encourage domestic demand and...

In One Week, Foreign Capital Out from Indonesia US$784M

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) noted that foreign capital outflow from Indonesia on May 13-16 reached Rp11.3 trillion (US$784.72 million), consisting of Rp7 trillion from the government bond and Rp4 trillion from shares...
Indonesia Assesses the Policy of Financial Liquidity Loan Collaboration

Indonesia’s State Budget Deficit Swells to US$7B in April

JAKARTA (TheInsiderStories) — Indonesia state budget deficit swelled to Rp101 trillion (US$7billion) in April, almost twice higher than Rp54.9 trillion in the same period last year. Finance Minister Sri Mulyani Indrawati, in a press...
Consumer Confidence Index Decline in March 2019

BI Maintains Benchmark Rate Amid Global Tension

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) decided to maintain the benchmark interest rate, BI 7 days reverse repo rate at 6 percent. It is in line with global and domestic economic conditions. Governor of BI...

ING: Rupiah Under Pressure Again, BI-7 DRR Seen to Remain on Hold

JAKARTA (TheInsiderStories) - The recent round of tariff slinging between the United States (US) and China has sparked emerging market (EM) foreign exchange weakness again, which should keep Bank Indonesia 7 Days Reverse Repo (BI...
Indonesia's Forex Reserves US$124B in March

Indonesian Govt Pay Attention on Rupiah Movement, Trade War Effect

JAKARTA (TheInsiderStories) - Indonesian government pay attention on the Rupiah movement and trade war. Therefore, President Joko Widodo summoned ministers and related stakeholders in the financial sector to highlight the latest economic developments. After the meeting,...

Thailand’s SCG Acquires Fajar Surya Wisesa Shares for US$665M

JAKARTA (TheInsiderStories) — Siam Cement Group (SCG), a packaging company from Thailand, will become major shareholder of PT Fajar Surya Wisesa Tbk (IDX: FASW) by acquiring 55 percent shares. For the action, SCG invested...

Indonesia Improves Rights Issue Scheme

JAKARTA (TheInsiderStories) - Indonesia Financial Service Authority (FSA) issued the latest regulation regarding capital increase through a rights issue. The regulation is stated in the Financial Services Authority Regulation Number 14/POJK.04/2019 concerning Capital Additions of...

Fight EU Ban and Critism, Indonesia to Establish Palm Oil Map

JAKARTA (TheInsiderStories) — Indonesia to establish palm oil one map, to harmonize land data and to respond public criticism. The map is expected to be completed in August, said government official last week. This action’...

Indonesia’s Current Account Deficit Narrows to US$7B in 1Q 2019

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) reported current account deficit (CAD) in the first quarter (1Q) of 2019 was recorded at US$7 billion or 2.6 percent of GDP. Previous quarter the deficit worth of $9.2...

Indonesia’s Indosat Admits Not Violating Rules on CEO Appointment

JAKARTA (TheInsiderStories) — A telecommunication company PT Indosat Ooredoo Tbk (IDX: ISAT) said does not break any rules on the new CEO’ appointment after TheInsiderStories reported the shareholders decision on May 6 possible break the regulation....

Hot and Cold US – China Trade War

JAKARTA (TheInsiderStories) — There is still uncertainty over the United States (US) and China trade war. Today, US impose 25 percent tariff on US$200 billion Chinese goods. The tariffs would target chemicals, building materials, furniture...

Indonesia’s Inalum Bought Bukit Asam Shares US$188 Million

JAKARTA (TheInsiderStories) - State-owned mining holding, PT Indonesia Asahan Aluminium (Inalum) bought 788.66 million treasury stocks of PT Bukit Asam Tbk (IDX: PTBA) at Rp3,400 a share with total amount Rp2.67 trillion (US$188.02 million),...

Moody’s Downgrades ABM Investama Ratings to B1

JAKARTA (TheInsiderStories) - Moody's Investors Service has downgraded to B1 from Ba3 the corporate family rating (CFR) of PT ABM Investama Tbk (IDX: ABMM) and the rating on its US$350 million senior unsecured notes due...
Indonesia's Pertamina Finds 3 New Oil and Gas Reserves in 1Q of 2019

Indonesia’s Upstream Oil and Gas Investment Below Target

JAKARTA (TheInsiderStories) — During January to April 2019, investment realization for upstream oil and gas recorded at US$3.17 billion, or only 21 percent of this year' target, as stated by Special Task Force for...

Indonesia Rely on Agriculture, Livestock to Slash Trade Deficit with Argentina

JAKARTA (TheInsiderStories) — Indonesia rely on agriculture and livestock to slash the trade deficit with Argentina, said senior minister at the high level meeting in Jakarta, today (05/08). After meeting with Vice-President of Argentina YM...

Indonesia’s Forex Reserves Slightly Lessen in April

JAKARTA (TheInsiderStories) - Bank Indonesia noted, foreign exchange (forex) reserves stood at US$124.3 billion on April, slightly lessen 0.16 percent compared to March 2019 at $124.5 billion. The position of forex reserves is equivalent to...

Garuda Indonesia Admits Financial Report Cheat

JAKARTA (TheInsiderStories) — State-owned flight carrier, PT Garuda Indonesia Tbk (IDX: GIAA) admitted adding unsolved payment over its financial report critics. The management said that there’s no payment received yet from cooperation agreement with...
Indosat's New CEO Appointment Triggers Question

Indosat’s New CEO Appointment Triggers Question

JAKARTA (TheInsiderStories) — A telecommunication provider, PT Indosat Ooredoo Tbk (IDX: ISAT) new CEO’ appointment has triggered question. The appointment of Ahmad Abdulaziz Al Neama as the company's new leader came without shareholders general...

Indonesia’s Retail Sales Grow 10.1% in March

JAKARTA (TheInsiderStories) - Indonesian retail sales grew 10.1 percent in March, up from February at 9.1 percent in, proven by the Real Sales Index of the Bank Indonesia (BI) today. The index is mainly...

Bank Indonesia to Strengthen Monetary Operation

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) announced has changes its monetary policy from the one-way monetary operations into a two-way monetary operation. With this strategy, the central bank said will not act contraction strategy...
Consumer Confidence Index Decline in March 2019

Indonesian Consumer Optimism Increases in April 2019

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) assessed the Consumer Confidence Index (CCI) on April 2019 was 128.1, higher than 124.5 in the previous month. The central bank said the rising of consumer optimism was driven...

Global SUKUK Becomes Underlying of Bank Indonesia’s SUKBI

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) officialy use global SUKUK as the underlying asset of SUKBI. This is stated in BI Regulation No.21/6/PBI/2019, concerning the Third Amendment to BI Regulation No.20/5/PBI/2018 concerning Monetary Operations. This...

Indonesia Issues SUKUK Saving with Targets $141M

JAKARTA (TheInsiderStories) - Indonesian Ministry of Finance (MoF) officially opened the auction of SUKUK Savings with series ST004 for individual investors. The government sets an indicative target of Rp2 trillion (US$140.85 million) for the...