Wednesday, July 17, 2019
JAKARTA (TheInsiderStories) - Indonesian government prepares East and Central Java provinces as the center of national economic development. Both province were considered to have the driving force towards the country' export and investment performance. President Widodo hopes that investment and development in East Java will later be able to make...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) - Indonesia’ third-largest mobile operator, PT Indosat Ooredo Tbk (IDX: ISAT), plans to raise as much as US$300 million to fund a sharp increase in capital expenditure (capex) by selling 3,000 towers, local media reported in Jakarta on Wednesday (07/10). Turina Farouk, Indosat Ooredoo' head of corporate communications,...
JAKARTA (TheInsiderStories) - Indonesia' largest integrated petrochemical company, PT Chandra Asri Petrochemical Tbk (IDX: CAP), successfully launched a three-year bond issuance with total amount of Rp750 billion (US$52.82 million). The notes has a coupon 9.5 percent rate. President Director of CAPC Erwin Ciputra said, the proceeds from the bond will...
JAKARTA (TheInsiderStories) - Indonesia' government continues to accelerate the development of four priority tourist destinations to reach the revenue target of US$20 billion from the tourism sector in 2019. Currently, foreign exchange tourism has reached $17 billion, the fourth largest contributor to foreign exchange after palm oil, oil and...
JAKARTA (InsiderStories) - Facing the uncertainty of trade negotiations with United States (US) President Donald Trump, China plans to give a high-level political offer by rationalizing his' re-election in 2020 as a pretext for capturing US President to the peace table. The strategy will be a new choice for China...
JAKARTA (TheInsiderStories) - PT Huawei Tech Investment, Indonesia' unit of Chinese telecommunications giant Huawei, has the potential to increase share ownership in PT Bakrie Telecom Tbk (IDX: BTEL) due to the consequences of the company's senior debt exchange worth US$380 million with mandatory convertible bonds, said the management on...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) has been implementing the policy to reduce the minimum mandatory current account (MMCA) ratio since July 1, 2019. The rule is expected to boost the liquidity for banks to Rp100 trillion (US$7.09 billion), said BI' governor Perry Warjiyo in Jakarta last week. Liquidity is...
Jakarta (TheInsiderStories) - Good Morning! The Jakarta Composite Index (JCI) was closed up 0.57 percent to 6,388.32 from previous day which was closed at 6,351.83. For today, the composite index is expected rise to 6,40p-6,412. Top Gainers Yesterday, the top gainers were PT DMS Propertindo Tbk (IDX: KOTA) which was closed up...
JAKARTA (TheInsiderStories) – Indonesia' state-owned oil and gas firm PT Pertamina conducts exploration activities by carrying out two dimensions (2D) seismic surveys in the Malacca Strait, Aceh along 1,800 kilometers, the company announced on Tuesday (07/9). "The seismic survey is an important step for a subsidiary of PT Pertamina Hulu...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) predicts the country’s economy grew slope by 5.1 percent year-on-year (YoY) in the second quarter (2Q) of this year. The figure is obtained from the results of a survey conducted by the central bank on export-import data, investment, and consumer surveys. "The trend of...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo has signed the government regulations to attract more investment in several sectors by providing tax incentives. The rule shall come into force on June, 26. The regulation Number 45 Year 2019 to change regulation Number 94 of 2010 concerning on the calculation of taxable...
Jakarta (TheInsiderStories) - Indonesian property developer, PT Kawasan Industri Jababeka Tbk (IDX: KIJA) took a number of steps related to the risk of default on senior notes issued by its subsidiary, Jababeka International BV in Oct. 5, 2016 with worth US$300 million. One option is to buyback the senior notes,...
JAKARTA (TheInsiderStories) - Indonesia' government began opening an auction for the special mining business license area in the Suasua block, Southeast Sulawesi for the next 20 days. The main commodity of the block is nickel, the ministry of energy and mineral resources announced on Monday (07/8). The auction implementation refers...
Bogor (TheInsiderStories) – National development Pplanning minister sees Indonesia' economic growth rate will stagnate at the level of 5.3 percent in this year over the investment, exports and import development until June. Beside, Bambang Brodjonegoro rated the regulatory uncertainty and bureaucratic hinder the investment flows. "We conducted a study in 2019...
JAKARTA (TheInsiderStories) - Indonesia-based multi platform GOJEK announced an unspecified investment from Japan' Mitsubishi Motors Corporation, Mitsubishi Corporation, and Mitsubishi UFJ Lease & Finance as part of its ongoing Series F funding round. The three parties have signed a memorandum of understanding to discuss joint projects to create value from new...
Jakarta (TheInsiderStories) - Good Morning! The Jakarta Composite Index (JCI) was closed down 0.34 percent to 6,351.83 from previous day closed down 0.04 percent to 6,358.63. The number follows the footsteps of the world stock market which is also transacted in the red zone. On Monday, share transactions reached Rp6.88 trillion...
JAKARTA (TheInsiderStories) - Indonesia' president Joko Widodo has criticized his ministers due to the country's widening current account deficit (CAD). In the first quarter of 2019, the CAD widened to US$6.97 billion from an upwardly revised $5.34 billion gap a year earlier, equivalent to 2.6 percent of the country's...
JAKARTA (TheInsiderStories) - Last week, Chinese Prime Minister Li Keqiang announced a massive economic reform step to drive the economic growth. He said, the government would cancel ownership control of foreign companies investing in the financial sector by 2020, a year ahead of the initial schedule of 2021. While in...
JAKARTA (TheInsiderStories) - Indonesian government and House of Representatives have approved the macro assumptions and development targets for 2020 which were decided by the budget committee in Jakarta on Monday (07/8). The largest Southeast Asia economic's growth is pegged in the range of 5.2-5.5 percent in 2020. This figure is...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) noted the consumer confidence index stood at 126.4 in June 2019, down from 128.2 in the previous month. This was the weakest reading since March, as the index of economic outlook fell by 4.8 points (138.1 vs 142.9 in May) and the gauge...
JAKARTA (TheInsiderStories) - Indonesia' coal reference price showed a downward trend in July 2019, where the benchmark price was set at US$71.92/ton, dropped 11.7 percent compared to last month's $81.48/ton. The policy of China and India to raise coal production and suppressing imports is one of the factors weakening...
JAKARTA (TheInsiderStories) - Tourism is one of the fastest growing industries in the world, and Asia is one of the hottest destinations, the Asian Development Bank (ADB) latest report showed. Since 2011, global international arrivals have been growing at an average annual rate of 4.8 percent, adding about 55...
JAKARTA (TheInsiderStories) - Indonesia has set up Government Regulation Number 42 Year 2019 concerning Procedures for Examination in the Capital Market Sector. The new regulation is determined to carry out the functions, duties, and authority of regulating and supervising financial service activities, especially in the capital market sector. This new rule shall...
JAKARTA (TheInsiderStories) – Indonesian Transportation Ministry released a new tariff for online motorbike taxi and will be implemented in 41 cities, said the spokesman last week. Its expected the new regulation will improve the service quality and prevent unfair competition among applicators. Budi Setiyadi, the ministry spokesman, said the new tariff was...
Jakarta (TheInsiderStories) - On Friday (07/05), the Jakarta Composite Index closed up 0.21 percent to 6,375.97 from previous day which was down 0.04 percent to 6,373.48. For today, the composite index is estimated in the range of 6,386-6,398. Top Gainers End of last week, the top gainers were PT Bima Sakti Pertiwi...
JAKARTA (TheInsiderStories) - The world's largest coal Indonesia-based company, PT Adaro Energy Tbk (IDX: ADRO), has transferred its profits in large quantities to a network of foreign companies to avoid or minimize taxes that should have been paid in Indonesia for US$125 million during the 2009-2017 periods. According to the...
JAKARTA (TheInsiderStories) - The state-owned home mortgage financing company, PT Sarana Multigriya Finansial (SMF) issued sustainable bonds of Rp2 trillion and SUKUK of Rp100 billion or totally Rp2.1 trillion (US$147.88 million). The fresh funding will be used for giving loan to the banks, said management on the written statement...
JAKARTA (TheInsiderStories) - A leading Indonesian logistics tech player, Waresix, has successfully raised a Series A of funding round of US$14.5 million, less than eight months after sealing its pre-A of $1.6 million round. The funding was led by East Ventures Growth, a Southeast Asia growth fund set up by...
JAKARTA (TheInsiderStories) - Indonesian telecommunication company, PT Indosat Ooredo Tbk (IDX: ISAT), issued local bond and SUKUK Ijarah with total value of Rp3.38 trillion (US$238.03 million), the management said on a written statement on Thursday (07/04). In details, the funding consists of conventional bonds Rp2.58 trillion and Rp794 billion...
JAKARTA (TheInsiderStories) – The world' largest economies, United States (US) and China have reportedly reorganized to start of serious negotiations next week to complete a year-long trade war between the two countries, an official said on Thursday (07/04). An official from the US Trade Representative Office said the two main negotiators...

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