Wednesday, May 22, 2019
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...
World Bank: Oil Prices will be Lower in 2019-2020 Due to Sluggish Global Growth and Rising non-OPEC Supply
JAKARTA (TheInsiderStories) - Global oil supply in April slightly decreased by 0.07 million barrels per day (bpd) to average 98.82 million bpd, compared with the previous month, the Organization of the Petroleum Exporting Countries (OPEC) said on Tuesday (05/15). According to the organization's monthly oil market report, OPEC' crude oil production remained...
JAKARTA (TheInsiderStories) – Indonesian government wanted to become the center of the world Islamic financial center to grab a potential global halal market of US$3 trillion in 2023, said President Joko Widodo. The country is one of the largest Moslem population in the world. "With 11 percent of the world' Moslem population...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 1.05 percent to 6,071.20, from prior day which closed down 0.88 percent to 6,081.40. For today, the index is supposed to move above 6,100, said Reliance Sekuritas. Top Gainers On Tuesday, top gainers were PT Satria Mega Kencana Tbk (IDX: SOTS)...
Indonesia's Forex Reserves US$124B in March
JAKARTA (TheInsiderStories) - Indonesian government pay attention on the Rupiah movement and trade war. Therefore, President Joko Widodo summoned ministers and related stakeholders in the financial sector to highlight the latest economic developments. After the meeting, Coordinating Minister for Economic Affairs Darmin Nasution explained, the President Widodo and and the stakeholders...
JAKARTA (TheInsiderStories) - Indonesian government is targeting high-speed train (HST) Jakarta-Bandung operated by PT Kereta Cepat Indonesia China (KCIC) is scheduled to operate in 2021 after years of delay. President Director of KCIC, Chandra Dwi Putra said the construction work will be boosted in the 2019 semester by increasing the labor...
JAKARTA (TheInsiderStories) - United States Department of Agriculture (USDA) forecasting Indonesia’ 2019-2020 palm oil output at 43.0 million tons (MT), up 1.5 MT or 4 percent from last year. In annual basis, the production increase is attributed mainly to area expansion as yield is expected to be slightly down from 2018-2019. “Mature...
JAKARTA (TheInsiderStories) – Decline in  Crude Palm Oil (CPO) prices slammed the financial condition of Indonesian palm oil producers in the first quarter (1Q) of 2019, Shentonwire reported. Bumitama Agri Ltd, one of them. Its net profit fell sharply 52.3 percent to Rp110.61 billion (US$7.66 million), according to the SGX...
JAKARTA (TheInsiderStories) – Advotics, an Indonesian cloud-based offline-to-online analytics startup, has announced the closing of US$2.7 million seed investment led by East Ventures. The company plans to use the fresh funds to infuse deeper technology in product development and solutions offered to customers and accelerate customer growth. “With this product...
JAKARTA (TheInsiderStories) - Indonesian government officially reduce the upper limit of airdare tariff between 12 percent to 16 percent. Its expected the tariff will be effective starting May 15 and will be continuously evaluated based on applicable regulations. The tariff reduction applies differently, depending on the flight route served by...
Trade Agreement, Just Pragmatic Choices of the Government?
JAKARTA (TheInsiderStories) – China finally decided to retaliate on United States (US), by setting a new import tariffs, ranging from 5 to 25 percent on US$60 billion goods, including frozen vegetables and liquefied natural gas, said an official statement on Monday (05/13). The new tariff will be implemented starting on...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 1.19 percent to 6,135.40 from the prior day, which rose 0.26 percent to 6,225.39. For today, the index is estimated lowering to the level of 6,066-6,101. Top Gainers On Monday, the top gainers were PT Satria Mega Kencana Tbk (IDX: SOTS)...
JAKARTA (TheInsiderStories) — Siam Cement Group (SCG), a packaging company from Thailand, will become major shareholder of PT Fajar Surya Wisesa Tbk (IDX: FASW) by acquiring 55 percent shares. For the action, SCG invested Rp9.6 trillion (US$665 million). The acquisition value is below Fajar Surya’ average price, which is tagged...
JAKARTA (TheInsiderStories) - Indonesia Financial Service Authority (FSA) issued the latest regulation regarding capital increase through a rights issue. The regulation is stated in the Financial Services Authority Regulation Number 14/POJK.04/2019 concerning Capital Additions of Public Companies with Preemptive Rights which replaces the previous regulation Number 32/POJK.04/2015. In this regulation, the...
JAKARTA (TheInsiderStrories) – Indonesian government and state-owned enterprises (SOEs) has potential to issue bonds around Rp100 trillion (US$6.99 billion) in the second quarter (2Q) of 2019. Most of the amount will in government bond while six SOEs has reported to Indonesia Stock Exchange (IDX) to release bond around Rp13...
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) - The development of the Indonesian sharia capital market showed a positive performance in the past four years. Since 2015, total sharia assets reached US$90.95 billion (Rp1,291.48 trillion), with a market share of 8.55 percent of national financial assets, according to Financial Services Authority (FSA) report released Thursday...
JAKARTA (TheInsiderStories) - Moody's Investors Service has assigned a first-time B1 corporate family rating (CFR) to PT Buana Lintas Lautan Tbk (IDX: BULL). At the same time, Moody's has assigned a B1 rating to the proposed United States dollar senior unsecured notes to be issued by BULL Maritime Capital...
JAKARTA (TheInsiderStories) - Indonesia is Southeast Asia’s fastest growing market for smartphones, experienced a 17 percent growth from 2017 to 2018, according to market research firm Canalys. “The smartphone market in Indonesia is the best in Southeast Asia,” said Yudistira Nugroho, a senior industry analyst at Tech & Telco Google Indonesia...
JAKARTA (TheInsiderStories) – State-owned cement producer, PT Semen Indonesia Tbk (IDX: SMGR) plans to issue bonds of Rp4.9 trillion from the total value of Rp8 trillion (US$563.38 million). The first phase of the bond was carried out in 2017 with a value of Rp3 trillion ($211.27 million). Based on disclosure...
JAKARTA (TheInsiderStories) — Indonesia to establish palm oil one map, to harmonize land data and to respond public criticism. The map is expected to be completed in August, said government official last week. This action’ also taken as an effort to fight negative campaign on palm oil by European Union...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.17 percent to 6,209.12 from the previous day which closed down 1.14 percent to 6,198.8 on Thursday' trading. For today, JCI is estimating going stronger to level 6,123-6,336. Top Gainers On Friday, the top gainer was PT Bliss Properti Indonesia Tbk...
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...
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...
IHS Markit: US-China Trade War Escalates Again as Truce Collapses
JAKARTA (TheInsiderStories) - United States (US) President Donald Trump’ decision to hike tariffs from 10 percent to 25 percent on US$200 billion of Chinese imported products will hit Chinese exporters hard, significantly impacting on their competitiveness against competing products produced in other countries, according to IHS Markit in its official...
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...
JAKARTA (TheInsiderStories) — A telecommunication company PT Indosat Ooredoo Tbk (IDX: ISAT) said does not break any rules on the new CEO’ appointment after TheInsiderStories reported the shareholders decision on May 6 possible break the regulation. During two years period, there has been three Indosat' CEO replacement and raised questions for...
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...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 1.14 percent to 6,198.8 from the previous day which closed down 0.43 percent at 6,270.2. For today, JCI is expected to stay at 6,180-6,260. Top Gainers On Thursday, the top gainers are PT Meta Epsi Tbk (IDX: MTPS) stock, which closed...
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'...