Wednesday, May 22, 2019
JAKARTA (TheInsiderStories) - Moody's Investors Service has downgraded to B1 from Ba3 the corporate family rating (CFR) of PT ABM Investama Tbk (IDX: ABMM) and the rating on its US$350 million senior unsecured notes due 2022. The outlook has been revised to stable from negative. "The downgrade reflects our expectation that...
JAKARTA (TheInsiderStories) - Moody's Investors Service says that regulatory and economic developments in Indonesia (Baa2 stable) and China (A1 stable) will weigh on the earnings of Indonesian coal miners in 2019, while carbon transition poses a long-term risk to the credit quality of coal miners. "Indonesian thermal coal sector is...
Oil Price Hits High Level Amid China Growth, US Stockpiles
JAKARTA (TheInsiderStories) - United States' Energy Information Administration (EIA) revised down Organization of the Petroleum Exporting Countries (OPEC) crude oil production around 30.3 million barrels per day (bpd) in 2019, down by 1.7 million bpd from 2018. In 2020, EIA sees OPEC' crude oil production to fall by 400,000 bpd...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 0.43 percent 6,270.2 from the previous trading closing level which increased 0.65 percent to 6,297.32. For today, JCI its expecting will strengthen at level 6,283-6,297. Top Gainers On Wednesday, the top gainers are PT Kedaung Indah Can Tbk (IDX: KICI) and...
JAKARTA (TheInsiderStories) - China' merchandise exports contracted 2.7 percent in in April in terms of USD, down from a revised 13.8 percent expansion in March, according to the General Administration of Customs. The decline in exports led by the weakening demand from the United States (US), the agency said. Exports to...
JAKARTA (TheInsiderStories) — Indonesia rely on agriculture and livestock to slash the trade deficit with Argentina, said senior minister at the high level meeting in Jakarta, today (05/08). After meeting with Vice-President of Argentina YM Gabriela Michetti and his delegation at his office, Coordinating Minister for Economy Nasution reported, the...
JAKARTA (TheInsiderStories) – An oil and gas producer, PT Medco Energi International Tbk (IDX:MEDC) issued global bonds with total amount US$650 million with coupon rate 7.38 percent. The funds use to finance the acquisition of British' Ophir Energy Plc., worth of $535.2 million and pay the company’ debt due...
Indonesia is Optimistic to Become a Manufacturing Hub in ASEAN
JAKARTA (TheInsiderStories) – As one of the core investment destination, Indonesia is optimistic to become a manufacturing hub in Southeast Asian countries (ASEAN) region, Even so, become a production base for global producers to meet domestic market needs to export, said the minister on Wednesday (05/08). Industry Minister Airlangga Hartarto...
JAKARTA (TheInsiderStories) - Bank Indonesia noted, foreign exchange (forex) reserves stood at US$124.3 billion on April, slightly lessen 0.16 percent compared to March 2019 at $124.5 billion. The position of forex reserves is equivalent to financing seven months of imports or seven months of imports and payment of government foreign...
JAKARTA (TheInsiderStories) - The acceleration in global growth that occurred in 2017 led some key central banks to begin a steady—albeit slow—tightening of monetary policy, said IHS Markit in the latest report. It said, the Federal Reserve, the Bank of Canada, and the Bank of England were in the vanguard....
IMF's Lagarde Emphasizes the Importance of Financing Sustainable International Development
JAKARTA (TheInsiderStories) - International Monetary Fund (IMF) Managing Director Christine Lagarde stressed how to ensured the effectiveness and sustainable financing of international development. She said the focus of the world today is on sustainable debt for sustainable growth. "We are all committed to seeing low-income countries make decisive and lasting...
JAKARTA (TheInsiderStories) — State-owned flight carrier, PT Garuda Indonesia Tbk (IDX: GIAA) admitted adding unsolved payment over its financial report critics. The management said that there’s no payment received yet from cooperation agreement with PT Mahata Aero Teknologi. In its financial report, Garuda claimed having US$241.94 million payment from Mahata...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.65 percent at 6,297.32 from the previous trading which fell 1 percent at 6,256.35. For today, PT Indosurya Bersinar Sekuritas sees the JCI will strengthen in the range of 6,198-6,336. Top Gainers On Tuesday, the top gainers are PT Trisula International...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) — A telecommunication provider, PT Indosat Ooredoo Tbk (IDX: ISAT) new CEO’ appointment has triggered question. The appointment of Ahmad Abdulaziz Al Neama as the company's new leader came without shareholders general meeting. Moreover, there has been three replacement in the last one year period. Indosat has let...
JAKARTA (TheInsiderStories) – Indonesian Ministry of Energy and Mineral Resources (MEMR) announces Kufpec Ventures (Indonesia) Ltd. and Sonoro Energy Ltd-PT Menara Global Energi consortium as the winner of five 2019 Phase I Oil and Gas Working Area Offers total commitment value and signature bonus of US$ 116.7 million, said the government...
JAKARTA (TheInsiderStories) – Responding to the request of the Indonesian National Development Planning Board, Korean Eximbank intends to provide untied soft loans under the name of the Economic Development Partnership Facility (EDPF) to the country, said the minister at a bilateral meeting with President/Chairman of the Korean Eximbank Sung-soo...
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) - Indonesian retail sales grew 10.1 percent in March, up from February at 9.1 percent in, proven by the Real Sales Index of the Bank Indonesia (BI) today. The index is mainly sourced from the clothing subgroup and the group of parts and accessories. Based on the sales...
JAKARTA (TheInsiderStories) – Bank Indonesia (BI) viewed that the country' trade balance remained positive in the first quarter of 2019, amid the lowered import and export, an official stated on Monday (05/06). This situation, BI rated, is in line with the impact of slowing world economic growth and shrinking commodity...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) announced has changes its monetary policy from the one-way monetary operations into a two-way monetary operation. With this strategy, the central bank said will not act contraction strategy by expanded the monetary policy strategy. Executive Director of the Monetary Management Department BI Nanang Hendarsah...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 1 percent to 6,256.35 on Monday (5/6) from last week, which fell 0.86 percent to 6,319.46. For today, Reliance Sekuritas estimates that the JCI will strengthen at the level of 6,200-6,320. Top Gainers On Monday, the top gainers are PT Sunson...
JAKARTA (TheInsiderStories) – Moody's Investors Service stated that the refinancing risks remain manageable for its infrastructure companies rated Asia (ex Japan), even when 68.5 percent of outstanding bonds from issuers with strong credit quality will mature in 2023, it said in its latest report on Monday (05/06). In its report,...
Indonesia’s Express Transindo to Issue New Shares worth US$70.42M on Mid-May
JAKARTA (TheInsiderStories) – The shareholders of Indonesian taxi operator, PT Express Transindo Utama Tbk (IDX:TAXI), agreed to converting debt worth of US$70.42 million with 10 billion news shares, said an official statement on Monday (05/06). Finance Director and Corporate Secretary TAXI Megawati Affan, said the conversion will be carried out...
Consumer Confidence Index Decline in March 2019
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) assessed the Consumer Confidence Index (CCI) on April 2019 was 128.1, higher than 124.5 in the previous month. The central bank said the rising of consumer optimism was driven by stronger consumer expectations for the future and the improving of perceptions on the current...
Indonesia’s Economic Shrank at 0.52% in 1Q 2019
JAKARTA (TheInsiderStories) – Indonesia's economic growth shrank to 0.52 percent in the three months to March (q-to-q), following a contraction of 1.69 percent in Q4 (2018) and compared to a market consensus of contraction of 0.40 percent, said an official report on Monday (05/06). Head of Indonesian Statistics Suhariyanto, said...
US-China Trade Battle Hits Global GDP as Negative for 2-3 Years
JAKARTA (TheInsiderStories) - United States (US) President Donald Trump has escalated the trade war with China by announcing plans to hike the tariff imposed on US$200 billion of Chinese goods from 10 percent to 25 percent starting this Friday (05/10). The president announced the move on Sunday at his twitter...
Indonesia Govt Offers Transportation Infrastructure Projects Investment
JAKARTA (TheInsiderStories) - Ministry of Transportation (MoT) and Investment Coordinating Board (ICB) offered two types of land transportation projects namely terminals type A and 134 weigh bridges. The total projects has valued around Rp1.1 trillion or worth of US$76.97 million with public private partnerships (PPP). "This is guided by Government...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 0.86 percent to the level of 6,319.46 on Friday (05/03). For today, Binaartha Technical Research rates JCI has the potential to move stronger at 6,370-6,422.   Top Gainers Two shares has lead the market trading on Friday arePT Perdana Bangun Pusaka...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) officialy use global SUKUK as the underlying asset of SUKBI. This is stated in BI Regulation No.21/6/PBI/2019, concerning the Third Amendment to BI Regulation No.20/5/PBI/2018 concerning Monetary Operations. This provision is carried out in order to strengthen monetary operations based on sharia principles. This regulation...
Indonesian Govt Signs Satellite Multifunction Project
JAKARTA (TheInsiderStories) - Indonesian government and the private sector signed an agreement on cooperation, guarantee, and regress of the Multifunctional Satellite or called Satellite Republic of Indonesia (SATRIA). The project its expected began the construction at the end of 2019 help by France' satellite manufacturer France, Thales Alenia Space. This...