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Indonesian Govt Appoints New Acting CEO of PLN
JAKARTA (TheInsiderStories) - State Own Enterprises (SOEs) ministry appointed Djoko Raharjo Abumanan as an acting chief executive (CEO) of PT Perusahaan Listrik Negara (PLN) and Director of Strategic Procurement, said the official today (05/29).
Abunaman temporarily leads...
Uriep Budhi Prasetyo Leads Indonesia Central Securities Depository
JAKARTA (TheInsiderStories) - Indonesia Central Securities Depository (ICSD) appointed Uriep Budhi Prasetyo as a new president director of the self regulatory office, replacing Friderica Widyasari Dewi, whose term of office has ended.
Beside appointed Prasetyo,...
Former Indonesia PLN’s CEO Sofyan Basir Being Arrested
JAKARTA (TheInsiderStories) — Good morning! Anti-graft commission arrested non-active CEO of state-owned power producer PT Perusahaan Listrik Negara (PLN) Sofyan Basir, on Monday (05/27), related to Riau-1 steam power plant case. He will be...
Ririek Adriansyah was Approved as New Leader of Indonesia’s Telkom
JAKARTA (TheInsiderStories) - PT Telekomunikasi Indonesia Tbk (IDX: TLKM) or Telkom through shareholders general meeting approved Ririek Adriansyah as new president director of the company replacing Alex J. Sinaga who ended his term of...
Trump Presses Trade Imbalance to Japan to Soon Reach Deal
JAKARTA (TheInsiderStories) — United States (US) President Donald Trump pressed Japanese Prime Minister Shinzo Abe to even out the trade imbalance between two countries. They are now negotiating a trade agreement, as Trump said...
Bank Indonesia Launched Standard for QR Code Indonesia
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) launched a standard for QR Code or Indonesian QR Code Standard (QRIS) that make payment system possible interconnected and interoperable.
Governor of BI Perry Warjiyo said, at the initial...
Moody’s Changes Bumi Serpong’s Outlook to Stable from Positive
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the Ba3 corporate family rating of PT Bumi Serpong Damai Tbk (IDX: BSD)E. At the same time, Moody's has affirmed the Ba3 backed senior unsecured rating of the 2021...
Indonesia’s Bumiputera Realigned President Director Desk
JAKARTA (TheInsiderStories) – Indonesian insurance company, PT AJB Bumiputera 1912 has realigned the management structure by terminating President Director Sutikno Sjarif, after the Financial Services Authority (FSA) recommended the former Director of Zurich Topaz Life in October...
Ex-Pertamina President Director Faces 15 Years Prison
JAKARTA (TheInsiderStories) — Former President Director of Indonesia’s energy state-owned enterprise PT Pertamina, Karen Agustiawan is being charged with 15 years prison by prosecutor, for an Australian block corruption. Agustiawan has benefited Australia's Roc...
Global Uncertainty Pushes Foreign Capital Out from Indonesia US$953M
JAKARTA (TheInsiderStories) - Indonesia's Financial Service Authority (FSA) noted foreign capital out from the country reached US$953.47 million (Rp13.73 trillion) since the beginning of 2019 until May 17, 2019, due to the uncertainty in...
Indonesia’s Saratoga Allocates US$100M for Investment in 2019
JAKARTA (TheInsiderStories) - PT Saratoga Investama Sedaya Tbk (IDX: SRTG), an investment holding firm, allocated fund US$100 million to invest in five new companies in the consumption and hospital sectors, said the director today...
BI Expands DNDF Policy to Boost Forex Trading
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) aimed to expand the Domestic Non Deliverable Forward (DNDF) policy to boost foreign exchange (forex) supply and demand in the market. It stated in the new regulation on DNDF...
Indonesia Police Detain Six People with Firearms, Gov’t Limited Social Media Acess
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...
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...
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’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...
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...
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...