Wednesday, May 22, 2019
JAKARTA (TheInsiderStories) – The Asian Development Bank (ADB) estimates that Indonesian economy will grow by 5.2 percent this year and 5.3 percent by 2020 triggered by strong investment and domestic demand, said the agency on Wednesday (04/03). According to ADB' Director for Indonesia Winfried Wicklein, with support from solid macroeconomic management...
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 days ago. He said, based on server detection, most illegal financial technology (FinTech) firms came from...
JAKARTA (TheInsiderStories) - The Government of Indonesia give legal certainty on upstream oil and gas business by issuing President Decree (PP) No.27/2017. President Joko Widodo has signed Government Regulation (PP) No. 27 of 2017 on Amendment to Government Regulation Number 79 of 2010 on Restricted Operating Cost and Treatment of Income Tax...
JAKARTA (TheInsiderSrories) - Indonesian investment company, PT Medco Energi Internasional Tbk (IDX: MEDC) targeting the acquisition of Ophir Energy to be completed in the second quarter (2Q) of 2019. The acquisition is considered to be a good step because the company will obtain a portfolio of assets that complement each other,...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.46 percent or 29.28 points at 6,435.15 on Tuesday (04/16), from the prior day had been closed down 0.07 percent to 6,405.87. Top Gainers Shares of PT Menteng Heritage Realty Tbk (IDX: HRME) posted the biggest gained on Tuesday after closing...
JAKARTA (TheInsiderStories) - Indonesian Government to announce the basic tariff for online motorcycle taxi service providers this week, said one official last week. Transportation ministry' director Ahmad Yani said ride-hailing provider have set the rate independently since there is no law regulating the tariff determination. To avoid the tariff war, he continued, the ministry will issue...
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...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) was closed down 1.05 percent on Thursday (04/11) at the level of 6,410.17 from previous day closed at 6,478.33. For today, PT Indosurya Bersinar Sekuritas rated that JCI has a potential to strengthen at the level of 6,402 - 6,585. This is...
S&P Ratings: Indonesian Developers Potentially to Downgrade This Year
JAKARTA (TheInsiderStories) – The hustle and turmoil of the 2019 General Election has dragged the Indonesian property market which has reached a "safe point" so far. Sluggish income and sticky spending needs can further reduce the financial buffer for developers in Indonesia, which causes a downgrade, told the Standard...
JAKARTA (TheInsiderStories) – Global oil prices surged to nearly six month higher at US$74 a barrel after President Donald Trump decided not to reissue waivers for all countries that continue to import Iranian oil without facing United States sanctions. The policy will be implemented in early May. In an official statement released...
GMF AeroAsia Assigned as ASEAN's Airbus Components Repairs
JAKARTA (TheInsiderStories) – Following PT Garuda Indonesia Tbk (IDX:GIAA)'s move cancelling Boeing 737-8 MAX order, Airbus is now tightening its grip to this Indonesia's biggest airline. Garuda Indonesia's subsidiary, PT Garuda Maintenance Facility (GMF) AeroAsia now provides Airbus components repairs service for Southeast Asia. GMF AeroAsia will manage the A330...
JAKARTA (TheInsiderStories) – Indonesian government has won PT Pasifik Satelit Nusantara (PSN) consortium as the winner of the Government Multifunctional Satellite auction with worth of US$1.5 billion. The Public-Private Partnership projects targeted to launch in 2022. In an official statement released last week, chairperson of the auction committee at the Information, Communication and Technology (ICT)...
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...
Indonesia-China Signs 23 MoUs on the Belt and Road Project
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 economic corridors, rapid train research and technology cooperation, and the development of research of education. According...
Indonesia’s Inalum and ANTAM to Invest US$850 M to Produce Alumina
JAKARTA (TheInsiderStories) – PT Indonesia Asahan Aluminum (Inalum) and PT Aneka Tambang Tbk (IDX: ANTM) have started the construction of bauxite ore to alumina processing smelter project in Sungai Kunyit, Mempawah, West Kalimantan. The project investment is estimated at US$850 million and is equipped with a steam power plant of...
Jakarta (TheInsiderStories) – Indonesian oil and gas producer, PT Medco Energi Internasional Tbk (IDX: MEDC) officially announced the successful completion of British 'Ophir Energy Plc acquisition of all recommended cash offers valued at £408.4 million (US$310.38 million), said an official statement on Wednesday (05/22). Medco Energy President Director Hilmi Panigoro...
Indonesian Digital Banking will Grow Rapidly in Coming Years
JAKARTA (TheInsiderStories) – The expansion of global capital markets reached a new high after the financial crisis in 2018 triggered in large part by the United States (US) economy. Companies must now consider a series of developing problems that can affect the shape of capital market activities in the...
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...
Boeing Suspends the Operations of 371 MAX 737 Aircraft
JAKARTA (TheInsiderStories) – United States (US) aircraft producer, Boeing Company declared a cooperative attitude in response to US President Donald Trump's statement by temporarily suspending the operations of the entire global fleet of 371 737 MAX aircraft, said an official statement on Wednesday (03/13). With this suspension, Boeing continues to...
JAKARTA (TheInsiderStories) – Indonesia targets to become one of the developed countries by 2045 and the economic growth at 7.3 percent at the year, said a minister on Thursday (05/09). The vision makes Indonesia a high-income country with the fifth highest GDP in the world with an average economic...
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...
Consumer Confidence Index Decline in March 2019
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) decided to maintain the benchmark interest rate, BI 7 days reverse repo rate at 6 percent. It is in line with global and domestic economic conditions. Governor of BI Perry Warjiyo explained, some central banks have begun to loosen the macroeconomic policies, but it...
Indonesia, Thailand Central Bank Strengthen Cooperation in Payment Systems
JAKARTA (TheInsiderStories) – Bank Indonesia (BI) and Bank of Thailand (BoT) have agreed to strengthen the cooperation in the areas of Payment Systems, Financial Innovation, Anti-Money Laundering, and Prevention of Terrorism Funding, said the central banks today (04/04). The agreement was signed by Governor of BI Perry Warjiyo and Governor...
JAKARTA (TheInsiderStories) - The surprise election victory of Scott Morrison’s Liberal-National Coalition in the Australian national elections held on 18th May reflected a mandate from the Australian electorate for sound fiscal management and a return to fiscal surpluses under the Coalition government’s medium-term Budget outlook. While the Labor Party had also...
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...
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,...
Insight: Indonesia' Digital Business Needs Guaranteed by Adequate Regulation
JAKARTA (TheInsiderStories) - Indonesia Stock Exchange (IDX) claims there are three new startup companies that will conduct an initial public offering (IPO) this year. There were two startup companies had been listed at IDX, PT Yeloo Integra Data Net Tbk (IDX:YELO) and PT Kioson Komersial Indonesia Tbk (IDX:KIOS). "We also...
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 and some consumer electronics. Trump repeated a threat on Thursday to impose new 25 percent...
Subianto-Uno Offers New Strategies for Future Indonesia’s 5-years Development
JAKARTA (TheInsiderStories) - Opposition candidate Prabowo Subianto - Sandiaga Salahuddin Uno targets to increase Indonesia's economic growth by 6.5 percent if elected in the 2019 Presidential Election. It is carried out with structural reforms and creating a strong government. "I believe that if we are managed strongly with Subianto-Uno, we...
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 2020 notes, 2021 notes and 2022 notes issued by Alam Synergy Pte. Ltd., a wholly...