Thursday, June 20, 2019
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Desk Editor Insider

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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...

ASEAN+3 Agrees to Strengthen Regional Currency Swap, Fight Protectionism

JAKARTA (TheInsiderStories) — South East Asian (ASEAN) Finance Ministers and Central Bank Governors, along with China, Japan, and South Korea, agreed on a preliminary framework to strengthen the regional currency swap agreements. The deal...

Indonesia’s Pertamina CEO in Riau-1 Project Corruption Circles

JAKARTA (TheInsiderStories) — Today, Indonesia' Anti-graft Commission examine state-owned energy producer PT Pertamina' CEO Nicke Widyawati as a witness for Riau-1 Steam Power Plant corruption case, for suspected Sofyan Basir, the CEO of other...

Rabobank Terminates Operation in Indonesia

JAKARTA (TheInsiderStories) - PT Rabobank International Indonesia has terminated its operational in Indonesia starting April 2019, as written in the notification letter on Tuesday (04/30). The lender owned by Dutch' Rabobank Group, has been...

Indonesia’s Bumi Resources Profit Slumps Almost Half in 1Q 2019

JAKARTA (TheInsiderStories) - The controversial Bakrie-owned company PT Bumi Resources Tbk (IDX: BUMI) felt other gloomy days. In the first quarter (1Q) of 2019, its profit slashed almost half to US$48.44 million, from $90.15...

Moody’s Affirms Alam Sutera’s Ratings, Outlook Negative

JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the B2 corporate family rating of Alam Sutera Realty Tbk (P.T.). At the same time, Moody's has affirmed the B2 backed senior unsecured rating of the...

ADB Finances Jawa-1 Power Plant Power Plant in Indonesia

JAKARTA (TheInsiderStories) - The Asian Development Bank (ADB) announced the first drawdown of funds under a private sector financing package totaling more than US$305 million invested in Jawa-1, an Indonesia’ largest combined-cycle gas turbine (CCGT) power...

947 Illegal P2P Lending Stopped, Others Still Circulating

JAKARTA (TheInsiderStories) - Indonesia has stopped 947 illegal business activities of peer to peer (P2P) lending since 2018, said chairman of the Investment Alert Task Force at Financial Service Agency (FSA) Tongam L.Tobing a few...
Indonesia-China Signs 23 MoUs on the Belt and Road Project

Indonesia, China Signs 23 Investment and Trade Agreements

JAKARTA (TheInsiderStories) – At the Belt and Road Forum (BRF), Indonesia and China has signed 23 memorandum of understandings on investment and trade cooperation on Friday (04/26). The cooperation contract includes the development of four...

Muhammad Ali Fill the Empty Perusahaan Listrik Negara’ CEO Chair

JAKARTA (TheInsiderStories) — Following the suspect label on the PT Perusahaan Listrik Negara CEO Sofyan Basir, State-Owned Enterprises Ministry Rini Soemarno appointed the Human Capital Director Muhammad Ali as acting CEO for 30 days, official confirmed...
Indonesia's Foreign Capital Inflows US$6.3B in 1Q 2019

Bank Indonesia Holds the Benchmark Rate at 6%

JAKARTA (TheInsiderStories) – Bank Indonesia through the Board of Governors' Meeting decided to maintain a 7-day Reverse Repo Rate (BI7DRR) at 6 percent by considering global and domestic economic conditions, said Governor of BI...

BI Estimates Inflation 2.7 Percent in April

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) estimated the inflation rate in April 2019 around 2.7 percent, said the Governor Perry Warjiyo yesterday (04/23). This value is sourced from the Price Monitoring Survey in the...
BCA Offically Buys Bank Royal Shares for US$71.42 Million

BCA Offically Buys Bank Royal Shares for US$71.42M

JAKARTA (TheInsiderStories) - One of the largest bank in the country, PT Bank Central Asia Tbk (IDX:BBCA) joined with its subsidiary PT BCA Finance, entered into a sale and purchase agreement to buy all...
Indonesia 2020’s State Budget Aims More Export, Investment Stimulus

Indonesia 2020’s State Budget Aims More Export, Investment Stimulus

JAKARTA (TheInsiderStories) — Amid the continuing uncertainty of global economic conditions, Indonesia President Joko Widodo demands the next year’s State Budget to have high resiliency. In a meeting with his vice president and ministers,...
Bank Tahungan Negara Acquires 30% PNM Investment Management Shares

Bank Tahungan Negara Acquires 30% PNM Investment Management Shares

JAKARTA (TheInsiderStories) – A state-owned lender PT Bank Tabungan Negara Tbk (IDX: BBTN) bought 30 percent or 33,000 shares of PT Permodalan Nasional Madani Investment Management (PNMIM) for Rp114.3 billion (US$8.16 million).The signing of...
Indonesia's Oto Multiartha to Issue US$71M Bond

Indonesia’s Oto Multiartha to Issue US$71M Bond

JAKARTA (TheInsiderStories) — Amid the uncertainty of Indonesia’s election and global economic turmoil, capital market is still a preferred choice to get source of funding. An auto financing company, PT Oto Multiartha will issue...

Singapore’s Al Falah Investment will Acquires 50.3% Bank Muamalat Shares

JAKARTA (TheInsiderStories) – Indonesian businessman Ilham Habibie through his company Al Falah Investments Pte. Ltd. will become the controlling shareholder of PT Bank Muamalat Indonesia, after finalizing the acquisition of 50.3 percent of the...

Indonesian Election: Not So Optimistic Market Ahead 2019’s Election

JAKARTA (TheInsiderStories) - Indonesian stock market didn't show high optimism ahead of this year' election. The Jakarta Composite Index (JCI) only rose by 3.09 percent in annual basis (YoY) until last day of trade...