Wednesday, May 22, 2019
JAKARTA (TheInsiderStories) - Indonesian Financial Services Authority (FSA) will revise the minimum capital requirement for market risk, said one senior official last week. The policy taken after the meeting of the Basel Committee on Banking Supervision in Basel, Swiss. FSA' chairman Wimboh Santoso stated, the first agreement is a revision...
JAKARTA (TheInsiderStories) - Coordinating Minister for Economic Affairs Darmin Nasution has appointed Edy Putra Irawady to lead Batam Indonesia Free Zone Authority (BIFZA). The appointment was part of the transitional program before handed over to the the Mayor of Batam. In a limited meeting on Dec. 12, 2018, President Joko Widodo has decided to...
JAKARTA (TheInsiderStories) - After left PT Bank Rakyat Indonesia Tbk (IDX: BBRI), Kuswiyoto has appointed by State Own Enterprises ministry to lead pawnshop company PT Pegadaian. He replaced Sunarso, who now serves as vice president director of BBRI. Gatot Trihargo, Deputy of Financial Services, Survey Services and Consulting Services at...
JAKARTA (TheInsiderStories) - Indonesia's State Own Enterprises (SOEs) ministry reappointed Sunarso as vice president (VP) director of PT Bank Rakyat Indonesia Tbk (IDX: BBRI), who left the position through decision on Oct. 18, 2018. The decision has been taken at the extraordinary shareholders meeting on Thursday (01/03). Sunarso was born...
JAKARTA (TheInsiderStories) - Local investment company, PT Pelabuhan Indonesia Investama (PII) budgeted capital expenditure around Rp1.4 trillion (US$96.55 million) in 2019. In the interview with us, President Director PII Randy Pangalila said the company eyes Shipping, loading and unloading companies, industrial estate areas, utilities, and others. Its holding, state-owned operator PT Pelabuhan Indonesia...
JAKARTA (TheInsiderStories) - Minister of Energy and Mineral Resources Ignasius Jonan has appointed Dwi Soetjipto as Head of the Special Task Force for Upstream Oil and Gas Business Activities. He replaces Amien Sunaryadi, who retired on Nov. 18, 2018. Soetjipto once served as President Director of state-owned energy producer PT...
JAKARTA (TheInsiderStories) — Indonesia' President Joko Widodo officially inaugurated Lieutenant General Andika Perkasa as Chief of Staff of the Indonesian Army at the Presidential Palace. He replaced the retired-General Mulyono, who entered the retired period. “We see Perkasa’s track record in Kopassus (Special Forces Command), others and also the president's...
JAKARTA (TheInsiderStories) - Head of the Investment Coordinating Board Thomas Trikasih Lembong appointed four new deputy at his agency on Monday (19/11). The four new officials are Chief Secretary Andi Maulana, Deputy for Investment Planning Ikmal Lukman, Deputy for Investment Promotion Farah Ratnadewi Indriani and Deputy for Investment Services Husen...
JAKARTA (TheInsiderStories) - Hengky Koestanto, former of PT Tiga Pilar Sejahtera Food Tbk (IDX: AISA) commissioner, assigned as a new President Director. The company claimed that the decision met with no protest from the shareholders at the extraordinary meeting on Monday (22/10). The new-elect president director is considered having the needed experience...
JAKARTA (TheInsiderStories) - Indonesian cellular operator, PT Indosat Ooredoo Tbk (IDX: ISAT) has elected its new Board of Directors and Commissioners, in extraordinary general meeting of shareholders held Wednesday (16/10). Chris Kanter, was appointed as President Director. Who is this man? Kanter was previously Indosat Ooredoo Commissioner for 8 years. He is a...
JAKARTA (TheInsiderStories) -  State owned Enterprise (SOEs) Ministry has appointed Arief Budiman as a new chief executive of PT Danareksa on Thursday (13/09). He replaces Heru Adhiningrat who had been leads the state-owned financial services firm for nine years. The former Finance Director of energy producer PT Pertamina Arief Budiman has resigned today...
Cengkareng (TheInsiderStories) - Government has picked I Gusti Ngurah Askhara Danadiputra  as a new chief executive of PT Garuda Indonesia Tbk (IDX: GIAA), replacing Pahala N. Mansury who served since April 2017. State-owned Enterprises Minister Rini Soemarno explained, the reason for the removal of Merit inseparable from factors of each individual...
JAKARTA (TheInsiderStories) - Shareholders of PT Perusahaan Gas Negara Tbk (IDX: PGAS) has appointed Gigih Prakoso, an Investment and Risk Management of state-owned energy producer PT Pertamina, as a new president director, said the company on Monday (10/09). He replaced the former president Jobi Triananda. Fajar Harry Sampurno,  deputy of Strategic...
JAKARTA (TheInsiderStories) – Chevron IndoAsia Business Unit (IBU) named Kevin Lyon as a Managing Director, effective Oct. 1, 2018, said the company on August 29. Lyon, 52, succeeds Chuck Taylor who will retire from Chevron in early 2019 after 38 years of distinguished service to pursue other opportunities. Lyon will oversee...
JAKARTA (TheInsiderStories) - Ahead of 2019's Indonesia presidential, two candidates of presidents have openly show their interest to run for the chair. Joko Widodo, the incumbent and the leading figures of the former rival in 2014's president election Prabowo Subianto has declared their candidacy. Out of the two candidates, at least...
JAKARTA (TheInsiderStories) - Global alternative asset manager Carlyle Group LP (NASDAQ: CG) has hired Robby Winarta, a former Credit Suisse Group AG’s Indonesia investment-banking head, as Managing Director in Asia aims to step up its activities in Southeast Asia. Winarta, who has almost two decades of experiences in investment banking in Indonesia will be...
JAKARTA (TheInsiderStories)—The airline industry had been facing tough time during the first quarter of 2018, due to the problems which are mainly concerned with operational costs, supporting infrastructure, and management issues. The airline companies must also brace themselves for the ASEAN Single Aviation Market---also known as the ‘ASEAN Open Sky...
JAKARTA (TheInsiderStories)— Controlling about 34 percent share in domestic flight markets, the Lion Air Group undoubtedly plays important role in the landscape of Indonesia's aviation industry. The group runs three airlines namely Lion Air, Batik Air, and Wings Air. It flies to 183 domestic and international routes, supported by 112...
JAKARTA (TheInsiderStories)  - A global asset manager Aberdeen Standard Investments (ASI) has named Omar S. Anwar as Country Head and Head of Distribution for Indonesia. The man with over 30 years' track record of leadership in Indonesia's financial services industry was also appointed as the President Director of PT Aberdeen...
JAKARTA (TheInsiderStories) - Founder and CEO of an Indonesia-based peer-to-peer lending fintech startup Modalku, Reynold Wijaya, expressed his optimism about the industry’s potentials. For him personally, Fintech industry is an advanced development of the financial services industry, which majorly depends on the internet and digital innovations. Realizing that technology is the future...
JAKARTA (TheInsiderStories)—Indonesia has an ambitious goal to increase the share of renewable energy in the country’s energy mix to 23 per cent by 2025. But the country has so far been moving at a snail’s growth in the development of renewable energy. The country’s energy mix currently only reached 11-12%....
JAKARTA (TheInsiderStories)—Power producers in Indonesia is facing  obstacles in developing power plants. The Independent Power Producers Association of Indonesia (APLSI) and PricewaterHouse Cooper said a report that major obstacles are regulatory uncertainty, lack of coordination among ministry/institution, and the poor management of 35,000-megawatt projects. Furthermore, investors also criticize the low...
JAKARTA (TheInsiderStories) - PT Pegadaian has set a plan to transform its businesses through G-Star Generation with 5G’s strategy -- Grow Core, Grab New, Groom Talent, Gen-Z Tech and Great Culture. President Director of Pegadaian Sunarso said, the state-owned pawnshops company opens to create new businesses through the program. On April, 2,...
JAKARTA (TheInsiderStories) - Senior Economist for ASEAN at UBS Edward Teather sees Indonesian Rupiah could bounce back towards the level of Rp13,000 against U.S dollar, after recording a decline since last week. Based on Indonesian central bank data, Rupiah continues to drop to Rp13,750 per US dollar until today (7/3). The Indonesian...
JAKARTA (TheInsiderStories) - President Joko Widodo appointed and installed Inspector General of Police Heru Winarko at the State Palace in Jakarta on Thursday as the new Head of the National Narcotics Agency. Winarko is a former law enforcement deputy at the Corruption Eradication Commission, replaces Police Commissioner General...
JAKARTA (TheInsiderStories) - Located along some of the world’s busiest sea lanes, Indonesia offers tremendous potential for marine transportation. With the spirit to dominate the vessel business in a maritime country, PT Humpuss Intermoda Transportasi Tbk., together with its subsidiaries, engages in sea transportation and other related activities in Indonesia. Originally,...
JAKARTA (TheInsiderStories) -  The Indonesia Stock Exchange (IDX) early this week made a bold step by joining the Climate Bonds Initiative Partner Program, the sixth stock exchange to partner with the Climate Bonds. This signals seriousness of the exchange management to develop green bond market in Indonesia. In order to find out how big...
JAKARTA (TheInsiderStories) – Indonesia has witnessed the rise of ‘sharing economy’ business model over the past five years or so, in particular in areas of transportation, tourism, finance, and retail sector. The business model has also been adopted in other business sectors. The term sharing economy refers to an economic...
JAKARTA (TheInsiderStories) - As state-owned port operators are no longer limited in carrying out expansions by region, PT Pelabuhan Indonesia (Pelindo) II or Indonesian Port Company (IPC) plans to enlarge its business across the archipelago. Elvyn Masassya, 47, started his career in 1990 as a credit analyst at state lender PT...
JAKARTA (TheInsiderStories) Indonesian state-controlled port operator PT Pelabuhan Indonesia III (Pelindo III) is considering selling up to US$1 billion of bonds in 2018 to strengthen its equity and enable refinancing. President Director I Gusti Ngurah Askhara Dana Diputra, popularly known as Ari Askhara, has an in-depth experiences in financial-related positions after...