Wednesday, June 26, 2019
Four CBs Agreed to Use Local Currency for Trade Transactions
JAKARTA (TheInsiderStories) - Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas, and Bank of Thailand (BoT) collaborate to use local currency settlement (LCS) framework for the Southeast Asian (ASEAN) trading. The four central banks (CB) commitment was agreed in the middle of the ASEAN Finance Minister & Central...
JAKARTA (TheInsiderStories) - Indonesia regulated the Provisions of Petroleum, Natural Gas and Other Fuels export and import, in order to maintain the availability of the materials in the country. Yesterday, Trade Ministry has issued Minister of Trade Regulation Number 21 Year 2019 that have an important role in the national economy. "This regulation...
JAKARTA (TheInsiderStories) - Indonesian state-owned lender, PT Bank Tabungan Negara Tbk (IDX: BBTN) planned to securitize synthetic home ownership loans to get funds Rp 2 trillion (US$141.84 million), said the company on Thursday (04/04). By raising the funds, its expected support the bank' housing loan growth. Director of BBTN Iman Nugroho...
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) - The Jakarta Composite Index was closed up 0.29 percent to 6,494.63 on Thursday (04/04), from previous trading had been closed up 0.21 percent to 6,489.78. In the midst of this increasing, there were several companies posted the declining and increasing of stock prices. While, there were corporation...
JAKARTA (TheInsiderStories) – Japan International Cooperation Agency (JICA) prepared US$881.15 million (Rp12.5 trillion) financing for Indonesia’s infrastructure projects. Indonesia’s first ever Mass Rapid Transit (MRT) is one of those undertakings. “The Rp12.5 trillion is for all projects funded by JICA,” said JICA Indonesia Office Chief Representative Shinichi Yamanaka today (04/04). He...
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...
Shentonwire: Singapore's Hyflux Ends the Restructuring Agreement with SM Investments
JAKARTA (TheInsiderStories) – Singapore water and electricity producer, Hyflux Ltd. said to end the investment proposal for the "white knight" from the consortium of Indonesia SM Investments (SMI) Pte Ltd. today (04/04). Despite trying several times to engage in negotiations about restructuring agreements, the company does not have confidence...
Indonesia Expands Boundary of 0% Tax on Services to Boost Trade Balance
JAKARTA (TheInsiderStories) – The government through Ministry of Finance has expanded the scope of imposition of zero percent value-added tax on service export goods to boost the performance of the modern service sector and increasing the competitiveness of export services to improve the trade balance, said a senior minister...
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) - 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) - The Jakarta Composite Index closed up 0.36 percent to 6,476.07 on Tuesday (02/04) from a previous day, which had been closed to 6,425.61. In the midst of that increasing, there were several companies booked stocks rising and others jumped. Also there were reporting of financial performance...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) believes that the flow of foreign funds to Indonesia' financial markets will be more profound after the presidential election on April 17, said the senior governor. The flows is estimated around $26 billion and by the third week of March 2019 has reached...
JAKARTA (TheInsiderStories) - International Monetary Fund (IMF) projected a slower economic growth in this year, than its previous projection. It said, global economy is now prone to Brexit, United States - China trade war, high level debt, and financial market restlessness, said IMF Managing Director Christine Lagarde on Tueday (02/04). She rated, this...
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...
Indonesia, Philippines Agrees to Set of SSG's Instant Coffee Products
JAKARTA (TheInsiderStories) – The Indonesian and Philippine government have agreed to review trade and investment policies including the implementation of the Special Agricultural Safeguard (SSG) for Indonesian instant coffee products which the Philippines has been implementing since August 2018, said senior minister in a written statement today (04/02). According to...
JAKARTA (TheInsiderStories) – An Indian hotel chain, OYO Hotels and Homes, plans to increase its investment by more than US$100 million for the next five years. The decision taken after seeing the positive growth of its business in Indonesia in the past five months. Country Head for OYO Indonesia Rishabh...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) raised the macro prudential intermediation ratio limit for commercial banks and islamic banks to 84-94 percent from the previous rule of 80-92 percent. The regulation is expected to support bank lending at the level of 10-12 percent in this year, said BI' senior...
China Extends to Suspend US' Vehicle, Auto Parts Tariff
JAKARTA (TheInsiderStories) – The Chinese State Council continues to extend the 25 percent retaliation rate for vehicles and auto parts from the United States (US) starting April 1. This extension was a positive reaction to America' decision to delay the increase in China' import tariffs of US$200 million, said...
JAKARTA (TheInsiderStories) - Moody's Investors Service has assigned a (P)Baa2 long-term foreign currency senior unsecured rating to Bank Mandiri (P.T.)'s (Baa2 stable, baa3) US$2 billion Euro Medium Term Note (EMTN) program. The (P)Baa2 rating on the EMTN program is in line with the bank' Baa2 STA foreign currency deposit rating. RATINGS RATIONALE The notes...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index closed down 0.25 percent to 6,452.61, although the index was opened with a gain of 0.26 percent at 6,485.72. In the midst of this weakening, some issuers posted the increasing of shares and others recorded declining. In addition, there were several issuers that...
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) — As an effort to support price hike, Indonesia officially decreased its raw rubber export by 98,160 tons, for the next four months, said the government official today (01/04). The rubber export slash is also done along with Malaysia and Thailand as International Tripartite Rubber Council (ITRC)...
Morgan Stanley: Indonesia to Continue Economic Reform under Widodo's Second Term
JAKARTA (TheInsiderStories) — President of Indonesia, Joko Widodo inaugurated three special economic zones (SEZ) in eastern of the archipelago. The zones are Bitung in North Sulawesi province, Morotai in North Maluku province, and Maloy Batuta Trans Kalimantan in East Kalimantan province. Government projected that all of those zones would absorb...
JAKARTA (TheInsiderStories) - Indonesia Stock Exchange (IDX) claimed that there are 16 companies ready to register their shares in the second quarter (2Q) of 2019, while in the first quarter (1Q) there were seven companies listed. Director of Corporate Valuation in IDX IGD Nyoman Yetna Setya said the 16 companies...
Indonesia March Inflation Rate Stands at 0.11%
JAKARTA (TheInsiderStories) – Indonesia recorded an inflation rate in March 2019 of 0.11 percent with a Consumer Price Index of 135.87. On an annual basis, the inflation rate slowed to 2.48 percent from 2.57 percent in the previous month, and slightly below market expectations of 2.5 percent. This figure...
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed Lembaga Pembiayaan Ekspor Indonesia' (Indonesia Eximbank) long-term local and foreign currency issuer ratings of Baa2. The financing firm owned by Indonesian government under Ministry of Finance. Moody's has also affirmed the bank' long-term and short-term foreign  currency Euro medium-term note (MTN) program ratings...
JAKARTA (TheInsiderStories) - Japan’ index of industrial production (IIP) rose 1.4 percent month on month (m/m) in February, following three consecutive months of decline. Sharp rebounds in shipments of autos and other transportation equipment drove a faster increase in manufacturers’ shipments (up 1.8 percent m/m) than the IIP. Although weak shipments of electric machinery...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index fell 0.19 percent to 6,468.75 on Friday (3/29), from the previous trading closing level on Thursday rose 0.56 percent to 6,480.79. Amid the declining, there were a number of issuers that have posted increases and decreases, and there were also corporate actions that...
Google Finally Agreed to Pay Taxes in Indonesia
JAKARTA (TheInsiderStories) – The United States (US) internet product company, Google LLC was finally willing to pay taxes in Indonesia, followed the 3 years of negotiations, said a senior minister on Thursday (03/28). Minister of Communication and Informatics Rudiantara said, in principle, Google was willing to pay taxes in Indonesia....

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