Thursday, June 20, 2019
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Fauzul Muna

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Before joining The Insider Stories as an editor, Muna was a journalist for macroeconomics and energy at Bisnis Indonesia. She received a Master of Science in International Development from The University of Manchester and bachelor degree in Social Development and Welfare from Universitas Gadjah Mada.

IFC Invests $150M Green Bonds Issued by OCBC NISP

JAKARTA (TheInsiderStories)--International Finance Corporation (IFC), a member of World Bank Group, committed to invest US$150 million of green bonds issued by PT Bank OCBC NISP. Executive Director of IFC Philippe Le Houreou said on Wednesday...

Indonesia’s Inflation Accelerates to 3.18% YoY in July

JAKARTA (TheInsiderStories)--Indonesia’s inflation accelerated 3.18 percent year on year in July from 3.12 percent in June, the country’s Central Statistics Agency reported on Wednesday (01/08). Month on month inflation rate, however, decelerated to 0.28 percent in July from...

Indonesian Govt Wants Less Imports from Infrastructure Projects

JAKARTA (TheInsiderStories)--The Indonesian Government is evaluating several future infrastructure projects, including Patimban Port and Jakarta-Surabaya medium-speed train, in view of reducing the needs for imports thus keeping the rupiah stable, Transportation Minister Budi Karya...

Indonesia’s President Cancels Plan to Revoke DMO Policy for Coals

JAKARTA (TheInsiderStories)--Indonesia's President Joko Widodo canceled a plan to revoke domestic market obligation (DMO) policy for coals, said one senior official on Tuesday (31/07). DMO is a mandate of Law No.4 of 2009 on Minerals and Coal. According...

Garuda Indonesia Eyes $500M Loans to Pay Off Debt

JAKARTA (TheInsiderStories)--PT Garuda Indonesia Tbk (IDX: GIAA) eyes US$500 million loans to pay off this year's maturing debts. Garuda Indonesia's Finance and Risk Management Director Helmi Imam Satriyono said on Monday (30/7) that the loans consists...

Indonesian Govt. to Block 227 Illegal Fintech P2P Lending

JAKARTA (TheInsiderStories)--Indonesia's Financial Service Authority (FSA) had requested for the Communication and Informatics Ministry to block 227 unregistered financial technology (FinTech) Peer to Peer (P2P) lendings operating in Indonesia, 155 of which come from...

Moody’s Assigns First Time B2 Ratings to Intiland Development

JAKARTA (TheInsiderStories)--Moody's Investors Service has assigned a first-time B2 corporate family rating (CFR) to PT Intiland Development Tbk. At the same time, Moody's has assigned a B2 senior unsecured rating to the company's proposed US...

Pertamina, Chevron Competing for Rights to Rokan Block Post 2021

JAKARTA (TheInsiderStories)--PT Pertamina (Persero) and PT Chevron Pacific Indonesia (CPI) are competing over rights to exploit Rokan oil block after its current contract expires in 2021. Both companies had submitted a separate proposal to take...

Indonesia’s FSA: Bank Loan Rises Double in June 2018

JAKARTA (TheInsiderStories)--Indonesia's Financial Service Authority (FSA) reported bank loan grew 10.75 percent (year on year) in June higher than previous month rose 10.26 percent. Meanwhile, the third-party funds grew 6.99 in annual basis. Last March, President Joko...

Indonesia’s Logistics Performance Remains Poor

JAKARTA (TheInsiderStories)--Indonesia jumped 17 positions in the World Bank's Logistics Performance Index (LPI) to 46th out of 168 countries in 2018 from 63rd in 2016 but it remains poor compared to its regional peers...

Indonesia Boosts Sharia Economy to Reduce CAD

JAKARTA (TheInsiderStories)--Indonesian Ministry of National Development Planning together with the National Committee on Sharia Finance is preparing a sharia economy roadmap, which could overcome the persistent current account deficit. National Planning Minister Bambang Brodjonegoro on...

Indonesian Govt. to Remove Yacht Tax to Boost Reserve Exchange

JAKARTA (TheInsiderStories)--Indonesian government plans to remove import tariff on the yacht in an attempt to boost revenue from the tourism sector that will increase reserve exchange. Tourism Minister Arief Yahya delivered the import tariff cut...

Currency War Threat May Add Pressure on Rupiah

JAKARTA (TheInsiderStories)--The currency war threat lodged by US President Donald Trump potentially put more pressure on the rupiah exchange rate against US dollar. The trade war threat has now escalates to the currency war threat....

Bank Indonesia Certificate May Add Volatility

JAKARTA (TheInsiderStories)--Bank Indonesia (BI) decision to issue 9-month and 12-month BI certificate may add volatility in the capital account, according to Nomura Singapore Limited. Nomura Singapore Limited said the Bank Indonesia's move to reactivate the...

Indonesia, Malaysia Cooperate Against Palm Oil Negative Campaign

JAKARTA (TheInsiderStories)--Indonesia's Foreign Minister Retno Marsudi and Malaysia's Foreign Minister Saifuddin Abdullah agreed to cooperate to fight the negative campaign against the palm oil industry. Marsudi on Monday (23/07) said the two countries already sent letters...

China Targets Indonesian Steel in Anti-Dumping Probe

JAKARTA (TheInsiderStories)--Chinese's Ministry of Commerce on Monday launched the anti-dumping probe into stainless steel billet and hot-rolled stainless steel worth US$1.3 billion from European Union, Japan, South Korea, and Indonesia. The investigation targets eight foreign...

Bank Indonesia Issues BI Certificate to Boost Capital Inflow

JAKARTA (TheInsiderStories)--Indonesia's central bank issues 9-month and 12-month Bank Indonesia (BI) certificate on Monday (23/07) to boost capital inflow. Head of BI Monetary Management Department Nanang Hendarsah on Sunday (22/07) said the central bank has...

Outdated Power Sector Threatens Indonesia’s Industry 4.0 Aspirations

JAKARTA (TheInsiderStories)--The outdated technology utilised in Indonesia's electricity sector could dent the government's aspiration to kickstart the fourth industrial revolution, also known as Industry 4.0, where patterns of power consumption will be significantly different...

Yuan Depreciation Reduces Trade War Impacts for Chinese Exporters

JAKARTA (TheInsiderStories)--the significant depreciation of the Chinese yuan against the US dollar from around CNY 6.28 in mid-February to CNY 6.80 on 20 July does provide a significant offset to the loss in export...

Bank Indonesia Keeps Policy Rate Unchanged

JAKARTA (TheInsiderStories)--Bank Indonesia decided to hold its benchmark seven-day reverse repo rate at 5.25 per cent on Thursday (19/07) to keep the Indonesian financial market attractive. The deposit facility and lending facility rates are also...

SOEs Banks Defer Plan to Finance Inalum-Freeport Deal

JAKARTA (TheInsiderStories)--Indonesia's state-owned banks had withdrawn from plans to finance a deal by PT Indonesia Asahan Alumunium to raise its stake in PT Freeport Indonesia to 51%, as per the instruction from State Enterprises Ministry. The...

Pertamina Lowers 2018 Investment Plan by 20%

JAKARTA (TheInsiderStories)—Indonesia’s state-owned oil and gas company PT Pertamina (Persero) lowered its projected capital spending in 2018 by 20 per cent due to worsening market condition. Pertamina's Director for Investment Planning and Risk Management Pertamina...

Indonesia’s BRI Agro Eyes $139M from Right Issue

JAKARTA (TheInsiderStories)--Indonesia's publicly listed agri-focus lender PT BRI Agroniaga Tbk (IDX: AGRO) eyes Rp2 trillion (US$139.042 million) from a rights issue in September 2018. According to an information disclosure released in the Indonesia Stock Exchange...

Indonesia’s MoF Mulls Sanctions for Deloitte

JAKARTA (TheInsiderStories)--Indonesia's Ministry of Finance mulled a sanction for accounting giant Deloitte Indonesia for its role in the default of PT Sunprima Nusantara Financing (SNP Finance)'s medium-term note. Head of Financial Support Profession Development Center of MoF...

IHS Market: India will Shift UK as World’s Fifth Largest Economy by 2019

JAKARTA (TheInsiderStories)--India's economy is projected to reach US$3 trillion in 2019 that will make the country the fifth largest economy in the world, IHS Markit reported in a press release on Wednesday (18/07). India has...

Criticising Indonesia’s Poverty and Inequality Reduction

JAKARTA (TheInsiderStories)--As Indonesia poverty rate reached a record low, the government wasted time to claim victory while oblivious about the issue of income inequality. Central Statistics Agency on Monday (16/07) reported Indonesia recorded 9.82 per cent...

Indonesia’s Nippon Indosari to Buy Back 10% Stake

JAKARTA (TheInsiderStories)--Indonesia’s leading bread maker PT Nippon Indosari Corpindo Tbk (IDX: ROTI) plans to buy back 10 per cent of the public stake or equivalent to 618.64 million shares. Vice President Investor Relation and Corporate Communications...

Critics Say too Early to Claim Victory in Freeport Negotiation

JAKARTA (TheInsiderStories)--Critics are quick to reign in the celebration by the government and its supporters who claim victories in shares divestment mining giant Freeport McMoran. The company and PT Indonesia Asahan Aluminium signed a head...

Moody’s Assigns First-time B2 Rating to Sentul City

JAKARTA (TheInsiderStories)--Moody's Investors Service has assigned a first-time B2 corporate family rating (CFR) to PT Sentul City Tbk (IDX: BKSL). The outlook on the rating is stable. RATINGS RATIONALE "Sentul City's B2 CFR reflects its ownership of a...

Indonesia’s Sarana Menara Allocates US$104M to Buyback 5% Shares

JAKARTA (TheInsiderStories)--Publicly listed tower operator PT Sarana Menara Nusantara Tbk (IDX: TOWR) plans to allocate Rp1.5 trillion (US$104.158 million) to buyback its 5 per cent share, according to the Indonesia Stock Exchange disclosure. TOWR will...