Thursday, June 20, 2019
Senate Set to Reject Trump National Emergency Declaration
JAKARTA (TheInsiderStories) - United States (US) President Donald Trump would impose a 5 percent tariff on June 10 for all goods entering from Mexico, unless it stopped the flow of illegal immigration to the country, a dramatic escalation of his border threats that could have sweeping implications for both...
JAKARTA (TheInsiderStories) - Lippo Malls Indonesia Retail Trust (LMIRT) priced a US$250 million five-year bond offering at 7.25 percent, in Asia’ first US Dollar high-yield bond issued by a REIT, the trust said in a filing to SGX on Thursday (06/13), Shentonwire reported. The offering met with a “robust response” from fixed...
Indonesia Targets 18 Industrial Zones worth US$17.73 B to Operate in 2019
JAKARTA (TheInsiderStories) – Indonesia targets to operate 18 industrial zones outside Java in the third quarter (3Q) of 2019. The projects have potential investment of US$17.7 billion, said an official government on Monday (04/07). According to the Director at the Directorate General of Regional Resilience Access to the International Industry...
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$2 billion Euro Medium Term Note (EMTN) program. The (P)Baa2 rating on the EMTN program is in line with the bank' Baa2 STA foreign currency deposit rating. RATINGS RATIONALE The notes...
United States’ GDP Revised Down to 2.2% in Q4 2018
JAKARTA (TheInsiderStories) – The United States (US) economic growth has been revised to 2.2 percent in the fourth quarter (Q4) of 2018, far below the 2.6 percent growth estimate issued in Feb. 28. But the revision didn’t change growth rates throughout 2018, which rose 2.9 percent, the most since...
JAKARTA (TheInsiderStories) - Japan’s trade balance turned to a surplus of JPY 339 billion (US$ 3.0 million) in February on a non-seasonally adjusted basis, following four consecutive months of a deficit. On a seasonally adjusted basis, the balance also turned to a surplus of JPY 116 billion, after recording...
Indonesia's Bukit Asam to Invest $464.28M this Year
JAKARTA (TheInsiderStories) - Indonesian coal miner, PT Bukit Asam Tbk (IDX: PTBA) budgeted Rp6.5 trillion or US$464.28 million for investment in 2019. This value is the same as the realization of investment spent in 2018 amounting to $464.28 million, said senior officer today (03/11). President Director of Bukit Asam Arviyan...
Indonesia's BoP will Surplus in 1Q 2019, says BI
JAKARTA (TheInsiderStories) - Governor of Bank Indonesia (BI) Perry Warjiyo optimistic balance of payment (BoP) will record a surplus in the first quarter (1Q) of 2019, continuing the record at the 4Q of 2018, which was surplus US$5.4 billion. In the first until the third quarter (Q3) of 2018,...
EU Leaders Agrees to Delay Brexit Until Oct. 31
JAKARTA (TheInsiderStories) - European Union (EU) leaders agreed to postponed Brexit until Oct. 31 to allow British Prime Minister Theresa May have more time get the House of Parliament approval on the country’ divorce deal. At an emergency meeting in Brussels, Belgium on Wednesday (04/10), leaders of the 27 countries remaining in...
JAKARTA (TheInsiderStories) – Indonesian businessman Ilham Habibie through his company Al Falah Investments Pte. Ltd. will become the controlling shareholder of PT Bank Muamalat Indonesia, after finalizing the acquisition of 50.3 percent of the Islamic bank shares. The transaction is targeted to be completed in May, said the company...
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...
Moody's Assigns First-Time B1 CFR to Barito Pacific, Outlook Stable
JAKARTA (TheInsiderStories) – Moody's Investors Service has assigned a B1 corporate family rating (CFR) to PT Barito Pacific Tbk (Barito) on an outlook stable. At the same time, Moody's assigned a B1 rating to its proposed senior secured notes with a pledge of certain shares in Chandra Asri Petrochemical...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) reported current account deficit (CAD) in the first quarter (1Q) of 2019 was recorded at US$7 billion or 2.6 percent of GDP. Previous quarter the deficit worth of $9.2 billion or 3.6 percent of GDP. The central bank' spokesman Onny Widjanarko said in an official...
S&P Ratings: Indonesian Developers Potentially to Downgrade This Year
JAKARTA (TheInsiderStories) - International rating agency Standard & Poor’s Global Ratings (S&P) stated that Indonesia' Gross Domestic Product (GDP) is considered to be far better due to the investment and infrastructure development. The rapid infrastructure development is good for investment and for economic growth, the agency said. Kim Eng Tan,...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) aimed to expand the Domestic Non Deliverable Forward (DNDF) policy to boost foreign exchange (forex) supply and demand in the market. It stated in the new regulation on DNDF transaction. BI said, with this new policy, the central bank want to make customers and...
JAKARTA (TheInsiderStories) – Singapore-based block chain firm PLMP Fintech Ltd., and PT Central Distribusi Batam will participate in a multi-million logistics project in partnership with Indonesian government. The memorandum of understanding of the Collaborative Joint Blockchain Logistics Pilot Project in Indonesia has been signed yesterday (05/29) by the third...
JAKARTA (TheInsiderStories) - China's trade surplus increased to $41.7 billion (Rp592.14 trillion) in May, up to $27.9 billion from the previous month. The year-to-date surplus was $361.1 billion, larger than that of the same period last year, according to the General Administration of Customs on Monday (06/10). China’s trade surplus...
JAKARTA (TheInsiderStories) - Indonesian property developer, PT Lippo Karawaci Tbk (IDX: LPKR) will hold rights issue for 47.82 billion shares or 67.74 percent of its issued and paid capital. The company targeting the rights issue process finalize end of this year, said the company last week. The rights issue price is tagged...
JAKARTA (TheInsiderStories) – Following the achieving positive performance for 10 years, PT Sarana Multi Infrastruktur (SMI) seeks funds US$5.7 bilion to help the infrastructure, sanitation and education development projects in 2019, said senior officer today (03/28). President Director of SMI Emma Sri Martini said on Thursday (03/28), besides coming from...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index closed up 0.29 percent or 19.07 points at 6,51.78 in trading on Thursday (03/21). In the midst of this strengthening there were fluctuations in issuers stock movement and also there were several corporate actions. Top Gainers Shares of PT Cahayaputra Asa Keramik Tbk (IDX: CAKK)...
Singapore (TheInsiderStories) - Moody's Investors Service has affirmed the B3 corporate family rating of Lippo Karawaci Tbk (P.T.) and affirmed the B3 backed senior unsecured rating of the bonds issued by Theta Capital Pte. Ltd., a wholly-owned subsidiary of Lippo Karawaci. The bonds are guaranteed by Lippo Karawaci and some of...
JAKARTA (TheInsiderStories) – As a part of establishing energy holding, PT Perusahaan Gas Negara Tbk (IDX: PGAS) paid off its remaining commitment on Rp10.22 trillion (US$772.39 million) promissory notes to acquire PT Pertamina Gas (Pertagas) shares from state-owned energy producer PT Pertamina. Corporate Secretary of PGAS Rachmat Hutama, said the payment...
JAKARTA (TheInsiderStories) - Chinese Huawei Technologies Co., Ltd., and Indonesia’ mobile operator, PT Telekomunikasi Selular (Telkomsel) signed a memorandum of understanding to accelerate development of Digital Indonesia in Barcelona, Spain . Based on Huawei' statement released on Tuesday (02/26), both parties will cooperate to accelerate ecosystem and infrastructure development of fully connected digital...
Subianto-Uno Offers New Strategies for Future Indonesia’s 5-years Development
JAKARTA (TheInsiderStories) – Indonesia presidential candidates Prabowo Subianto - Sandiaga Salahuddin Uno views that the current development taken by the Government is on the wrong path and does not have a apropos strategy. If continued, it does not bring benefits to the welfare of the society, does not increase...
Jakarta (TheInsiderStories) - Lippo Malls Indonesia Retail Trust (LMIR Trust), reported Monday its first-quarter net property income dropped 7.8 percent on-year to US$29.98 million from $40.30 million a year ago. The decline was due to lower rental income from Lippo Plaza Batu and Palembang Icon on the expiry of the...
JAKARTA (TheInsiderStories) – Indonesian government aimed to move the capital city from Jakarta to strategic areas outside Java or to near-eastern Indonesia, said President Joko Widodo at the limited meeting on Monday 04/29). This is due to the conditions of congestion and floods that continue to hit the capital...
Indonesia’s Jasa Marga to Issue Two-Debt Instruments worth US$140M in 2019
JAKARTA (TheInsiderStories) – Indonesian toll-road developer, PT Jasa Marga Tbk (IDX:JSMR) to publish coupon and zero coupon bonds, with total amount Rp2 trillion (US$140.84 million) this year. The two-debt instruments issuance are intended to provide a company’ funding cost, said the company on Monday (05/06). This year the state-owned firm...
JAKARTA (TheInsiderStories) – An Indonesian investment and sharia funding provider, PT Wahana Ottomitra Multiartha Tbk (IDX: WOMF) or WOM Finance re-issued 2019 Phase II of WOM Finance III bonds with a principal of Rp1.68 trillion (US$118.31 million) for working capital financing in second quarter of 2019, said an official...
JAKARTA (TheInsiderStories) – Indonesian government renegotiated the Masela block' plan of development (PoD) with Japan' Inpex Corporation, said the minister on Thursday (05/16). With this effort, its expected the giant gas block can operate soon. Minister o Energy and Mineral Resources Ignasius Jonan explained the meeting was focused on to get the best...
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the Ba3 corporate family rating of PT Bumi Serpong Damai Tbk (IDX: BSD)E. At the same time, Moody's has affirmed the Ba3 backed senior unsecured rating of the 2021 and 2023 notes issued by Global Prime Capital Pte. Ltd., a wholly owned subsidiary of...

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