Friday, August 16, 2019
Jakarta (TheInsiderStories) - PT Pemeringkat Efek Indonesia (Pefindo) expect bond issuances until the end of this year could reach Rp130 trillion (US$9.15 billion). In the first half (1H) of 2019, the value worth of Rp80 trillion, said the management on Thursday (08/15). So far, said SVP of Financial Institution Ratings...
JAKARTA (TheInsiderStories) - The realization merger between two banks belonging to the Industrial Bank of Korea (IBK) will will happen in the next few days. The bank will merge PT Bank Agris Tbk (IDX: AGRS) and PT Bank Mitra Niaga Tbk (IDX: NAGA). Based on the disclosure information released on Thursday (08/15),...
JAKARTA (TheInsiderStories) - China announced that it would be forced to take necessary countermeasures if United States (US) moves forward with tariffs set to take effect Sept. 1, continuing the back-and-forth escalation of the trade war even as the conflict elevates fears of a global economic slowdown. "China has to...
JAKARTA (TheInsiderStories) - Indonesian travel services, PT Bayu Buana Tbk (IDX: BAYU) has formed a joint venture company (JVC) with inbound travel operators DMC Apple Holidays. The Sri Lanka-based company wants to tap the fast-growing Indian market to Indonesia, local media reported today (08/15). At present inbound travel, especially from India...
JAKARTA (TheInsiderStories) - The new investor will control PT Radana Bhaskara Finance Tbk (IDX: HDFA) after the rights issues program, it said today (08/15). Based on the disclosure information, the company offered 6.96 billion shares or 74.94 percent of the total issued and paid-up capital. Radana is expecting to raise...
JAKARTA (TheInsiderStories) - Indonesia' government is ready to develop two special economic zones (SEZs) worth Rp11.9 trillion (US$838 million) which is projected to start early next year, said officials today (08/15). These two SEZs are Likupang tourism in North Sulawesi and Kendal industrial estate in Central Java. Chairperson of the...
Jakarta (TheInsiderStories) - State-owned telecommunication provider, PT Telkom Indonesia Tbk (IDX: TLKM) has planned to acquire e-commerce companies, including Bhinneka.com, said on official today (08/15). Arif Prabowo, the company' spokesman revealed its party open to collaborating with several leading e-commerce companies in developing digital businesses. However, there has not been...
Indonesia’s Economic Shrank at 0.52% in 1Q 2019
JAKARTA (TheInsiderStories) - Indonesia’s trade deficit narrowed sharply to US$63.5 million in July 2019 from a $2 billion in the same month a year earlier. Exports fell 5.12 percent year-on-year (YoY) to $15.45 billion while imports dropped at a faster 15.21 percent to $15.51 billion, Statistics Indonesia has reported...
JAKARTA (TheInsiderStories) - Britain' Labour Party leader Jeremy Corbyn has sent a letter to the leaders of other political parties and senior backbenchers from across parliament to lay out his plan to stop No Deal Brexit. He also invited the citizen of the country to vote of no-confidence in Boris Johnson' government. He shouted...
Jakarta (TheInsiderStories) - PT Bhakti Agung Propertindo eyeing funds around Rp335 billion (US$23.59 million) from the initial public offering (IPO), the company announced yesterday (08/14). The property developer is in the pipeline of the companies which will be listed on Indonesia Stock Exchange (IDX) for this year. Bhakti Agung offers 1.67...
JAKARTA (TheInsiderStories) - State-owned power producer, PT Perusahaan Listrik Negara (PLN) needs an investment around US$1 billion to complete eight geothermal projects during 2023 - 2024, said an official on Wednesday (08/14). Indonesian government noted the country needs around $15 billion funds to meet the geothermal targets until 2025. PLN Gas...
JAKARTA (TheInsiderStories) - Indonesia is committed to creating an aviation industry ecosystem to become the top 10 global aviation markets by 2020 and the world' top five by 2034, said a senior official today (08/14). Its begun the planned by developed aircraft maintenance, repair, and overhaul (MRO) services center...
Jakarta (TheInsiderStories) - Kejora Ventures joint with other foreign investors signed a sales and purchase agreement with PT M Cash Integration Tbk (IDX: MCAS) to acquire 10 percent of shares of PT Distribusi Voucher Nusantara Tbk (IDX: DIVA), it said on Tuesday (08/13). No further details on the transaction values of...
JAKARTA (TheInsiderStories) - After delayed for months, Indonesian lender, PT Bank Muamalat Indonesia Tbk resume its rights issue program, said the spokesman on Wednesday (08/14). Previously, the first Islamic bank in the country, aimed to run the program in July 2019. Corporate Secretary of Bank Muamalat Hayunaji revealed that the time schedule...
JAKARTA (TheInsiderStories) - Indonesia needs US$15 billion in investment to meet its target of reaching 7.200 megawatts (MW) of geothermal power capacity by 2025, an energy ministry official said on Tuesday (08/13). The capacity would be an increase from less than 2.000 MW of geothermal power currently. "Until now only...
JAKARTA (TheInsiderStories) - The European Commission announced the opening of an investigation into imports of hot-rolled steel from Indonesia, China, and Taiwan to the European Union (EU) following a complaint from the industry for alleged dumping practices. In a statement released Tuesday (08/13), the EU executive reported that this investigation...
JAKARTA (TheInsiderStories) - The United States (US) decided to postpone the imposition of new tariffs on imported products from China to limit holiday session, said the US Trade Representative office on Tuesday (08/13). The ministry announced that it would postpone the imposition of a new import duty of 10 percent for various...
Jakarta (TheInsiderStories) - Bank Indonesia (BI) has intervened the spot market and Domestic Non Deliverable Forward (DNDF) to stabilize the Rupiah, said the official on Tuesday (08/13). Yesterday the local currency tumbled again over the trade war, Argentina, and Hong Kong riots issues. BI' Executive director Nanang Hendarsah stated the central...
JAKARTA (TheInsiderStories) - The European Commission (EC) has imposed temporary duties ranging from 8 to 18 percent on imports of subsidized biodiesel from Indonesia, the commission announced on Tuesday (08/13). The new tariff will be effective starting today and until the next four months and opened to extends the policy...
JAKARTA (TheInsiderStories) - President Joko Widodo evaluated the impact of  Renmimbi (RMB) movement, Hong Kong riots and other global issues on Indonesian economy, said an economic minister today (08/13). As known, United States (US) President Donald Trump has announced to put more tariffs on Chinese goods after the last...
JAKARTA (TheInsiderStories) - Indonesia’ state oil and gas firm PT Pertamina said its crude oil imports in the first half (1H) this year fell 35 percent to 220,000 barrel per day (bpd), compared to 339,000 bpd in 2018, the company said in a statement on Tuesday (08/13). The lower imports...
JAKARTA (TheInsiderStories) - PT MDI Ventures, the investment arm of state-owned  telecommucation firm, PT Telkom Indonesia Tbk (IDX: TLKM) and other investors invested US$20 million Hong Kong-based digital payments QFPAY, said the company today (08/13). The new funding led by returning investors Sequoia Capital China and Matrix Partners, Japan'...
JAKARTA (TheInsiderStories) - Trump Foundation and its partner Indonesia' property developer PT MNC Land Tbk (IDX: KPIG) build luxurious resort and residences Trump Residences in Lido, West Java and Tabanan, Bali. The projects is estimating need costs US$1.7 billion in three years time. "Is great to be back here after signed...
JAKARTA (TheInsiderStories) - Ribbeck Law Chartered, which represents the majority of families of the victims of the deadly Boeing 737 MAX 8 crashes, and Global Aviation Law Group, today (08/13) filed additional lawsuits against Boeing in the United States (US) federal court in Chicago, the firm said a written...
JAKARTA (TheInsiderStories) - All flights in and out of China's Hong Kong Special Administrative Region were canceled on Monday (08/12) after thousands of protesters flooded the city's international airport to denounce police violence, according to the local airport authority. "Other than the departure flights that have completed the check-in process...
JAKARTA (TheInsiderStories) - PT Surya Citra Media Tbk (IDX: SCMA), the holding of television provider with brand SCTV and Indosiar, aimed to acquire 50 percent of the entertainment and advertising company, PT Benson Media Kreasi (BMK) for Rp44 billion (US$3.07 million), said the management on Monday (08/12). Based on an...
JAKARTA (TheInsiderStories) - President Donald Trump said last weekend that the next round of trade negotiations between the United States (US) and China may not happen, casting doubt on hopes that the two sides could dodge sweeping escalations set to take place in September. Asked by reporters on the South...
Jakarta (TheInsiderStories) - PT Sarana Multigriya Finansial or SMF, a state company own by Indonesian government, planned to releases bond of Rp2.5 trillion (US$174.82 million) on August 22, 2019, said the company on Monday (08/12). The bonds are part of the Sustainable Public Offering with a total amount of...
JAKARTA (TheInsiderStories) – Jet Commerce, an e-commerce enabler company in Indonesia, announced that it has expanded its international footprint to China by acquiring other e-commerce enabler player Brand Top, it said on Monday (08/12). The provider of e-commerce solution in Indonesia B2B sector has founded in 2017 and then engaging in...
JAKARTA (TheInsiderStories) - The government estimates the Jakarta-Surabaya medium-speed train will start operating at the end of 2022. It's expected to sign later this year a memorandum of understanding with the Japan International Cooperation Agency (JICA) to begin construction of the project by the middle of next year. Transportation Minister...

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