Wednesday, May 22, 2019
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JAKARTA (TheInsiderStories) - The investors' appetite to invest in the Special Economic Zones (SEZ) is high as it reached Rp221 trillion (US$16.62 billion) in the first half (H1) of 2017, said deputy for the Acceleration of Infrastructure and Regional Development of the Coordinating Ministry for Economic Affairs Wahyu Utomo. Almost 73 percent of...
JAKARTA (TheInsiderStories) - President Joko Widodo is indeed focusing on developing infrastructure in all sectors, the main capital for achieving the economic growth of minimum 7 percent, then Indonesia could reach the so-called established country status by 2025, leaving current status as the emerging country. Indonesia's economy grew by 5.18 percent in...
JAKARTA (TheInsiderStories) - Local Government of East Java through The Surabaya-Madura Regional Development Board (BPWS) offered new projects worth Rp53.1 trillion (US$4 billion) to investors, an official said on Monday (31/7). The projects located in Surabaya Madura (Suramadu) Bridge areas and Madura Special Region. One of the projects which offered...
JAKARTA (TheInsiderStories) - Indonesian energy producer, PT Pertamina announced that it has commenced tender offers to purchase for cash any and all of the outstanding 2021 Notes and 2022 Notes (together with the 2021 Notes), said the company today. Previously, the state-owned company announced to offer global medium term notes to investors...
JAKARTA (TheInsiderStories) - Garuda Indonesia Group, through its subsidiaries PT Citilink Indonesia, took over the operational management of PT Sriwijaya Air and PT NAM Air, said the company on Wednesday (14/11). The agreement has been signed on Nov. 9, 2018. According to PT Garuda Indonesia Tbk (IDX: GIAA) CEO Ari...
JAKARTA (TheInsiderStories) - Oil prices dipped on Wednesday (04/03) after rallying for three straight days. The rising United States (US) crude stockpiles offset support from OPEC supply cuts and US sanctions on Iran and Venezuela has triggered the price. The US commercial crude inventories surged by 7.2 million barrels, the...
JAKARTA (TheInsiderStories) – British energy producer, Ophir Energy Plc finally agreed on PT Medco Energi International Tbk (IDX: MEDC)’ offers, after months of negotiations. The acquisition value agreed is 57.5 pence for each share, higher than what it was previously proposed. The increased offer values the entire issued and to...
JAKARTA (TheInsiderStories) — Two subsidiaries of PT Golden Plantation Tbk (IDX: GOLL), PT Bumiraya Investindo and PT Airlangga Sawit Jaya are tangled by debts, as both companies have submitted postponement of debt repayment obligations. Sluggish financial condition made Golden Plantation plans to sell its plantation estate. According to the official...
United States Inflation Rate in February Lowest since 2016
JAKARTA (TheInsiderStories) – United States’ (US) consumer prices index (CPI) lowered to 1.5 percent year-on-year (YoY) in February from  January at 1.6 percent, due to fall in cost of gasoline and clothing while prices of electricity stalled. Based on the official data its the lowest rate since September of 2016. On...
Indonesia' AirAsia Withdraws Flights from Traveloka
JAKARTA (TheInsierStories) - Indonesian flight carries, PT AirAsia Indonesia Tbk (IDX: CMPP) has decided to permanently withdraw ticket sales from online travel agent Traveloka. The withdrawal covers all flight routes across the AirAsia network, said an official statement today (03/04). According to the President Director of AirAsia Indonesia Dendy Kurniawan,...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index was closed up 0.91 percent to level of 6,484.35 on Tuesday (4/9) than Monday' trading which had been closed down 0.75 percent to level of 6,425.73. In the midst of the increasing, there were some companies posted the increasing of stock prices and...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) survey showed the national bank' loan growth slower in the first quarter (1Q) of 2019. The weighted net balance of new loan demand also dropped to 50 percent from the previous quarter at 71.7 percent. In that survey, BI stated that the slowdown has...
Indonesia’s Geo Dipa Energi Eyes US$300M to Build Geothermal Power Plants
JAKARTA (TheInsiderStories) – Indonesia's geothermal power producer PT Geo Dipa Energi resumed the construction of 2 units of geothermal power plants with an investment of US$300 million, the company said on Thursday (04/25). The two power plants are Dieng 2 power plant in the Central Java and Patuha 2...
US' Natural Gas Exports to Europe Surge by 272 %
JAKARTA (TheInsiderStories) - The European Union (EU) announced that  liquefied natural gas (LNG) imports from United States (US) have climbed 272 percent since 2016. The steepest increases occurred after President Donald Trump met with European Commission President Jean-Claude Juncker to hash out a trade deal last year. The EU also announced the...
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 Gabriela Michetti and his delegation at his office, Coordinating Minister for Economy Nasution reported, the...
JAKARTA (TheInsiderStories) - Indonesia posted the worse trade deficit in the country' history. Previously, the deepest deficit of US$2.3 billion occurred in July 2013. Statistic Indonesia reported today (05/15), the nation posted trade deficit of $2.5 billion in April. Last month, the country only export $12.6 billion, or down 13.1 percent...
JAKARTA (TheInsiderStories) – Indonesian General Election results have not yet affected the Jakarta Composite Index (JCI) and the Rupiah exchange rate in the long term, although since the end of last year JCI has decreased to 5.74 percent. While Rupiah is not able to move from Rp14,000 level, said...
Japan's Current Account Rise to 25.2% in February YoY
JAKARTA (TheInsiderStories) - Japan managed to keep the current account surplus for two running months in early 2019, government data showed on Monday (04/07). In February, Japan's current account increased to JPY2.68 trillion (US$ 24.12 billion) from JPY2.14 trillion in the same month a year earlier (y-o-y), or an...
Sets Ticket Tariff, the Government Requests Airlines to Complies
JAKARTA (TheInsiderStories) – The government through the Ministry of Transportation has issued two new rules related to airplane tariffs on Friday last week. With these rules, the government requested that airlines throughout Indonesia immediately comply by lowering their plane tickets, said a senior minister in a written statement on...
JAKARTA (TheInsiderStories) – Indonesia affirmed its absolute winning in International Centre for Settlement of Investment Disputes in Washington D.C., over US$1.31 billion sue from British' Churchill Mining Plc. and Australian Planet Mining Pty Ltd. This came up following Churchill and Planet Mining annulment request, as they found that their discovery obligations...
Bank of Japan Maintains Negative Interest Rate
JAKARTA (TheInsiderStories) – Bank of Japan (BoJ) maintained a negative interest rate of minus 0.1 percent, even though Japanese politicians demanded rate increase, based on its written statement. In the monetary policy meeting, the central bank also decided to purchase Japanese government bonds (JGBs) to keep the 10-years yields will...
The Fed's Powell: US Economic Growth Still Positive at a Healthy Level
JAKARTA (TheInsiderStories) – The number of job creation United States (US) announced on Friday last week was surprisingly showing a slowdown in the US economy. The Federal Reserve (The Fed) was scapegoated for being the biggest threat to US economic prosperity. Since being appointed last four year, the Fed...
JAKARTA (TheInsiderStories) - Hungary' mobile transactions solutions provider Cellumʼ secure wallet platform to be unified with LinkAja e-money system, developed by PT Telekomunikasi Selular (Telkomsel), the company chief executive told the Budapest Business Journal. János Kóka, CEO of Cellum Global at the Mobile World Congress in Barcelona said, said that unit of...
Shentonwire: Indonesia’s Indofood Sukses Makmur Offers to Buy Indofood Agri Shares worth US$289.23 M
JAKARTA (TheInsiderStories) – Indonesian food and beverage producer, PT Indofood Sukses Makmur Tbk (IDX:INDF) offered to acquire the remaining Singapore' Indofood Agri Resources Ltd. shares worth of US$289.23 million or US$0.20 per share, it said in a filing to SGX on Wednesday (04/10). At present, there are at least 90 percent...
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 Rp1 trillion (US$71 million) bond this year. The bond will be issued in 3 series, said...
JAKARTA (TheInsiderStories) – Indonesian government aiming to export 400,000 units car in this year. The number higher 15.6 percent compared to the 2018 with total export 346,000 units or rose 14.4 percent from previous year. Industry minister Airlangga Hartarto reveasled, the planned is in line with the growing demand from...
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 provision is carried out in order to strengthen monetary operations based on sharia principles. This regulation...
JAKARTA (TheInsiderStories) – Responding to public screams about soaring airline ticket prices since the beginning of 2019, the government promised to reduce the upper limit tariff by 15 percent, said a senior minister on Thursday (05/09). The reduction in the tariff limit will be consolidated with airline businessmen in...
JAKARTA (TheInsiderStories) – S&P Global Ratings views Indonesian corporate rating having a good prospect after general elections with a little risk of operation, but not the main catalyst for operations. "Election mostly neutral for corporate credit dynamic. Less event risk but not a major catalyst for operations," said Xavier Jean, Senior Director...
JAKARTA (TheInsiderStories) – An Indonesian health and agricultural producer, PT Bayer Indonesia has export products to Europe with a total value Rp3.9 trillion (US$276.60 million), said the industry minister yesterday. In addition to Europe, as much as 80 percent of the production is intended for export to 32 countries...