Thursday, June 20, 2019
Senate Set to Reject Trump National Emergency Declaration
JAKARTA (TheInsiderStories) – President of the United States (US) Donald Trump said he had reached an agreement with Canada and Mexico, where US could sell agricultural products, aluminum and steel to those countries without charging large tariffs or tariffs. Trump said that with the agreement, US farmers could start doing...
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...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.75 percent to 5,951.37 from the previous day which climbed 1.38 percent to 5,907.12. For today, the composite index is predicted to strengthen in the range 5,990 to 6,028, said Binaartha Sekuritas. Top Gainers On Tuesday, the top gainers were PT...
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) - PT PP Tbk (IDX: PTPP), a state-owned construction and investment companies in Indonesia, became a contractor for ferronickel smelter construction located in Kolaka, Southeast Sulawesi with a total investment of Rp14.5 trillion (US$1.01 billion), the company announced on Sunday (06/16). The state-owned contractor has signed a contract...
Indonesia's Forex Reserves US$123B in February
JAKARTA (TheInsiderStories) –  The Indonesian foreign exchange (forex) reserves reached of US$123.3 billion at the end of February 2019, slightly up from January at $120.1 billion, said Bank Indonesia (BI) today (03/08). This position is equivalent to financing 6.9 months of imports or 6.7 months of imports and payment of...
JAKARTA (TheInsiderStories) - Indonesian private equity firm PT Saratoga Investama Sedaya Tbk (IDX: SRTG) has rumored to sell 51 percent share of PT Medco Power Indonesia to investors, several sources said. On Dec. 16, Saratoga acquired 51 percent shares of Medco Power from PT MedcoEnergi International Tbk (IDX: MEDC) with total...
JAKARTA (TheInsiderStories) – PT Astra International Tbk (IDX: ASII) infrastructure developer' ASTRA Infra through PT Astra Tol Nusantara officially acquired 44.5 percent of PT Jasamarga Surabaya Mojokerto (JSM) shares to strengthen the investment portfolio in the Trans Java toll road. The company hold the Surabaya  -Mojokerto toll road concession in East Java. President...
Moody's: US-China Battles Still Hits Asian Export Weakness
JAKARTA (TheInsiderStories) – Moody's Investors Service has examined and identified 23 ranked countries in the Asia-Pacific, namely the countries that are the most profitable and the most vulnerable to falling volumes of global trade, due to ongoing and broad-based tensions between the United States (US) (Aaa stable) and China...
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) - PT Saratoga Investama Sedaya Tbk (IDX: SRTG), an investment holding firm, allocated fund US$100 million to invest in five new companies in the consumption and hospital sectors, said the director today (05/23). Director of Investment at Saratoga Devin Irawan said the company wants to invest in hospitals...
Indonesia Initiates Indo-Pacific Cooperation to Maintain Economic Stability
JAKARTA (TheInsiderstories) – In the midst of various global economic uncertainties, Indonesian government sees the importance of the Indonesia-Pacific region partnership that is home to 3/5 of the world' population with almost US$52 trillion in GDP. The program is expect to maintain stability and inclusive cooperation is crucial for economic...
JAKARTA (TheInsiderStories) - Indonesia targeting to become a manufacturing hub in Southeast Asian (ASEAN) region with several industrial sectors that have deep structures, ranging from upstream to downstream in automotive, textile and garment, food and beverages, metals, and chemicals sectors, said Industry Minister Airlangga Hartarto. He adds, in the coming years,...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index opened up by 0.1 percent increasing to 6,489.43 on Wednesday (03/20). But at the end of the closing trade, the composite index only edged up 0.04 percent to 6,482.71 from closing of the previous day' trade. There were issuers that contribute to this...
Bank Tahungan Negara Acquires 30% PNM Investment Management Shares
JAKARTA (TheInsiderStories) – A state-owned lender PT Bank Tabungan Negara Tbk (IDX: BBTN) bought 30 percent or 33,000 shares of PT Permodalan Nasional Madani Investment Management (PNMIM) for Rp114.3 billion (US$8.16 million).The signing of a Conditional Shares Purchase Agreement (CSPA) between both parties held in Jakarta today (04/22). President Director...
JAKARTA (TheInsiderStories) -  China foreign trade of goods fell 13.8 percent in February to US$266.36 billion compared to same month in 2018. While, Exports dipped 20.7 percent to $135.24 billion last month and imports decreased 5.2 percent to $131.12 billion in the same month, customs data showed on Friday...
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) - Indonesian integrated petrochemical company, PT Chandra Asri Petrochemical Tbk (IDX: TPIA) received government’ tax holiday facility from its US$380 million polyethylene plant. Company gets revenue tax deduction by 100 percent for the first 10 years after commercial production, then 50 percent for the following 2 years. In February 2018, the...
Trump Welcomes Trilateral Trade US-UK-Japan after Brexit
JAKARTA (TheInsiderStories) - Amid the tariff war between the United States (US) and China which continues to negotiate, the world will witness an increase in trilateral trade cooperation between America, United Kingdom (UK), and Japan after the official Brexit decision was decided. The three countries signed their first trilateral cooperation...
JAKARTA (TheInsiderStories) - Indonesian coal miner, PT Bumi Resources Tbk (IDX: BUMI) confirms that a Contingent Value Rights (CVRs) payment worth US$100 million occurred on June 11. Based on the announcement, the CVRs program was submitted to the Singapore Stock Exchange on Wednesday (06/12). According to Dileep Srivastava, Director & Corporate Secretary...
US Natural Gas Stockpiles Decreased by 149 Bcf
JAKARTA (TheInsiderStories) - The United States (US) Energy Information Administration (EIA) reported Thursday that domestic supplies of natural gas fell by 149 billion cubic feet (Bcf) for the week ended March 1. The data shows that Natural Gas Stocks Change in the US averaged -0.73 Bcf from 1994 until...
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...
Moody's: Indonesian Property Developers Face a Higher Interest Burden
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the B1 corporate family rating of PT Agung Podomoro Land Tbk (IDX: APLN). At the same time, Moody's has affirmed the B1 backed senior unsecured rating of the 2024 notes issued by APL Realty Holdings Pte. Ltd., a wholly owned subsidiary...
JAKARTA (TheInsiderStories) - State-owned mining holding, PT Indonesia Asahan Aluminium (Inalum) bought 788.66 million treasury stocks of PT Bukit Asam Tbk (IDX: PTBA) at Rp3,400 a share with total amount Rp2.67 trillion (US$188.02 million), said the company today (05/09). To date, Inalum owns 65 percent of the coal miner'...
Indonesia's PLN Chief Named Suspect in Power Project Graft Case
JAKARTA (TheInsiderStories) - The chief executive of Indonesian state electricity producer Perusahaan Listrik Negara (PLN) has been named a suspect in a graft case related to Riau-1 power project, Corruption Eradication Commission (CEC) said on Tuesday (04/23). The anti-graft commission suspects that Sofyan Basir, "accepted the promise" of a bribe, or...
FICO: APAC Banks Still Fear for Next Money Laundering Breach
JAKARTA (TheInsiderStories) – Following the recent Asian money laundering scandal, there were around 91 percent of Asia-Pacific (APAC) banks thinking that the industry is still at risk of accidentally facilitating subsequent money laundering scandals, told FICO in the recent survey today (02/27). Based on the reports, most of respondents (62...
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...
JAKARTA (TheInsiderStories) - Indonesia' business competition supervisory commission said they found strong indications of duopoly behind the expensive airplane ticket prices since October 2018, the agency supervisory commissioner Afif Hasbullah told media in Jakarta on Monday (06/17). Hasbullah adds the agency continues investigating alleged price-fixing behind airfare increases. “We are investigating...
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 digital industry in Indonesia' manufacturing sector has a potential to increase sharply and provide added-value to the national gross domestic product (GDP) of US$150 billion by 2025, said industry minister today (04/15). Moreover, the development of this technology-based industry could contributer to economic growth by...

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