Monthly Archives: January 2013
New Rules on Divestment and Transfer of Mining Licenses (IUPs)
January 15th, 2013
On 21 February 2012, the Indonesian Government issued Regulation No. 24 of 2012 on Amendment to Government Regulation No. 23 of 2010 on Mineral and Coal Mining Business Activities (“Regulation No. 24”). Regulation No. 24 increases the divestment requirement ...
January 2nd, 2013
As the central bank’s restriction on credit card ownership comes into effect on Jan. 1, domestic banks are bracing for less business from potential new customers. Steve Marta, general manager of the Indonesia Credit Card Association (AKKI), said the ...
Alex Pollack Is New President of Honeywell Indonesia
January 2nd, 2013
Honeywell (NYSE: HON) today announced that it has appointed Alex Pollack president of Honeywell Indonesia. In this new role, Pollack will be responsible for advancing Honeywell’s technology leadership and business outcomes with multiple constituencies, including government and public agencies. ...
Indonesia Considers Tax on Corporate Foreign Debt
January 2nd, 2013
Indonesia plans to impose a tax on companies borrowing money from overseas, as part of an effort to control the private sector’s foreign debt, Bisnis Indonesia reported on Wednesday, quoting a high level official at the finance ministry. Bambang ...
Bumi Resources Minerals Posts $13.2m Net Loss in 9M-Period
January 2nd, 2013
Bumi Resources Minerals (BRMS), a multi-minerals mining arm of the Bakrie Group, reported a net loss in the first nine months of this year due to temporary decline in its Batu Hijau copper and gold mine. BRMS reported a ...