Wednesday, July 17, 2019
Jakarta (TheInsiderStories) - Drought occurred seven provinces in Indonesia, with details 79 regencies comprising of 1,969 villages in 556 districts. Potential loss due to the drought recorded Rp3 trillion (US$214.29 million), National Disaster Management Agency' spokesman Agus Wibowo told TheInsiderStories on Tuesday (07/16). He revealed, highest drought potential occurred in West...
JAKARTA (TheInsiderStories) - Indonesia' Coordinating Minister for Maritime Affairs (CMMA) Luhut Binsar Pandjaitan believed that the implementation of the 30 percent biodiesel mixture (B30) program could help to reduce fuel imports of US$3 billion. This program is expected to be implemented early next year. Every year, the fuel consumption in...
JAKARTA (TheInsiderStories) - Indonesian government evaluated the 16 economic policy packages has launched during the five years term of President Joko Widodo and Jusuf Kalla' administration, said the senior official late Monday (07/15). As a result, in terms of investment, the issue of licensing still hampers the entry of investment...
JAKARTA (TheInsiderStories) - Indonesia National Air Carriers Association (INACA) have protested to Ombudsman regarding the Transportation Minister decree Number 106 Year 2019 concerning upper limit tariff for economy class or the domestic passenger. The organization assessed that government' request to reduce upper limit tariff was 12 percent -16 percent is...
JAKARTA (TheInsiderStories) - Cement sales of state-owned company, PT Semen Indonesia Tbk (IDX: SMGR) corrected by 4.86 percent  throughout the first half (1H) of 2019 compared to the previous year, it said on Monday (07/15). Based on the company data, until June total cement sales recorded 12.74 million tons from the...
JAKARTA (TheInsiderStories) -  Indonesia’ state-owned power producer, PT Perusahaan Listrik Negara (PLN) announced that it had issued global bonds worth US$1.4 billion on July 10. The funds use to construct of additional generating, transmission and distribution capacity in the 35 thousand Megawatt (MW) program to be completed by 2024. Last...
JAKARTA (TheInsiderStories) - Indonesia' industrial and logistics sector grow rapidly in Southeast Asia, driven by strong domestic trends including the e-commerce sector penetration, growth in intra-regional trade and increased logistics efficiency, as the Southeast Lang Jones LaSalle (JLL) reported on Monday (07/15). The study emphasizes that Indonesia' rapidly expanding e-commerce...
Singapore (TheInsiderStories) - Moody's Investors Service has downgraded the corporate family rating of PT Agung Podomoro Land Tbk (IDX: APLN) to B2 from B1. At the same time, the rater has downgraded the backed senior unsecured rating of the 2024 notes issued by APL Realty Holdings Pte. Ltd., a wholly owned subsidiary...
JAKARTA (TheInsiderStories) - Indonesia' Disaster Management Agency reported two people died and 2,000 displaced due to a 7.2 magnitude earthquake in 62 kilometers (km) northeast of Labuha, South Halmahera, North Maluku on Sunday, July 14. The agency' spokesman, Agus Wibowo, told the Media today (07/15)m that the earthquake had no tsunami...
JAKARTA (TheInsideStories) - Palm oil exports have begun to erode over the foreign policies on some of Indonesia' main export destinations, especially to India, China, Bangladesh, and European Union, said an Indonesian palm oil association (GAPKI). The organization recorded in April 2019, Indonesia' Crude Palm Oil (CPO) and derivatives, oleochemical...
JAKARTA (TheInsiderStories) - Indonesia and Turkey agreed to finalize the Indonesia-Turkey Comprehensive Economic Partnership Agreement (IT-CEPA) negotiations this year, which is expected to overcome obstacles and encourage increased trade performance of the two countries. The total trade between the two countries in 2018 was recorded at US$ 1.79 billion, rose...
JAKARTA (TheInsiderStories) - Indonesia' government has approved the latest revision of plan of development (PoD) of Masela block in the Arafura Sea North Maluku to bring the gas-rich block development entered the final investment decision (FID) stage, the energy and mineral resources ministry announced on Friday (07/12). The revision was approved...
JAKARTA (TheInsiderStories) - PT Uni-Charm Indonesia, the local arm of Japan-based diaper and feminine-care firm Unicharm Corp., planned to hold an initial public offering (IPO) in this year. The potential funding that can be obtained around Rp1 trillion (US$70.92 million), said the management last week. Director of PT Sinarmas Sekuritas...
JAKARTA (TheInsiderStories) - China's trade surplus widened to US$50.98 billion in June 2019, up 24.6 percent from the same month last year of $40.91 billion. This is the biggest trade surplus since December last year, the Customs Department announced on Monday (07/15). However, China's export performance declined slightly in all...
JAKARTA (TheInsiderStories) - Indonesia' trade surplus narrowed to US$200 million in June 2019 from a $1.71 billion in the same month a year earlier, as exports fell 8.98 percent in annual basis (YoY). While imports rose 2.80 percent, the first annual increased inbound shipments in six months, Statistics Indonesia...
Jakarta (TheInsiderStories) - The first meeting of Indonesian President Joko Widodo and Opposition leader Prabowo Subianto on the train after the 2019 election dispute determined the opposition future. Even so, the General Chair of Gerindra Party did not express his official attitude whether he remained in opposition or supported the...
JAKARTA (TheInsiderStories) - Indonesia' President Joko Widodo laid out Indonesian Vision for his second five-year term, which will see the government focus on economic growth and building up the quality of human resources in the Southeast Asia biggest economy. Widodo delivered his first speech on Sunday (07/14) since being re-elected...
JAKARTA (TheInsiderStories) - Indonesia' President Joko Widodo ensures the upcoming cabinet will consist of 60 percent political party members and 40 percent professionals for his second term cabinet and would be announced soon. The re-elected president did not question a number of supporting parties who had requested ministerial seats. Political...
JAKARTA (TheInsiderStories) - The Beijing-based Asian Infrastructure Investment Bank (AIIB) has approved a US$75-million investment into the Asia Investment Fund (AIF), a closed-end private equity fund established in Hong Kong, China that focuses on telecommunication, transportation, and energy, the bank announced on Friday (07/12) on sideline 4th annual meeting...
JAKARTA (TheInsiderStories) - Indonesia' finance ministry has set a policy to implement excise of plastic bag worth Rp200 (US$0.01) a sheet assuming Rp30 thousand a kilogram (kg), with a count of 150 pieces of plastic a kg. With the previous levies, the price of plastic bags after excise is...
JAKARTA (TheInsiderStories) - Gojek, Indonesia' mobile on-demand platform, and digital payment get an investment from Siam Commercial Bank (SCB), Thailand’s largest lender by assets. This investment is part of Gojek's Series F Funding Round, management said in a written statement on Friday (07/12). Through this collaboration, the company will develop...
JAKARTA (TheInsiderStories) - Asia's insurance market, except Japan, will see premium growth rebound in 2019, propelling premium growth to almost 11 percent, according to forecasts by Allianz Research, the world's leading insurance, and asset management company. Long-term prospects look a little brighter. Allianz Research expects insurance markets to continue to...
JAKARTA (TheInsiderSories) - European Central Bank (ECB) officials signaled at their June policy meeting that they will consider injecting fresh stimulus into the eurozone economy soon in light of weak inflation data and mounting global uncertainties, according to minutes of the meeting published on Thursday (07/11). The minutes suggest that...
JAKARTA (TheInsiderStories) – Indonesia is determined to reduce its use of conventional fossil fuels and continues to promote new and renewable sources of energy and increase the share of renewables in its energy mix to 23 percent by 2025. According to Minister of Energy and Mineral Resources Ignasius Jonan, the government...
JAKARTA (TheInsiderStories) - Indonesia' finance ministry signed an agreement with 29 toll road business entities, 36 toll road sections and 35 memoranda of understanding with a total value of Rp13.1 trillion (US$922.54 million) for 2019, Lembaga Manajemen Aset Negara (LMAN), a state company under Ministry of Finance reported in...
JAKARTA (TheInsiderStories) - Indonesia plans to build its longest sea bridge next year to connect two islands in the Malacca Strait, near Singapore, as part of efforts to develop industry and tourism in the area, the country’s cabinet secretariat said in a statement on Thursday (07/11). The 7km bridge linking...
JAKARTA (TheInsiderStories) - Indonesian House of Representatives appointed Destry Damayanti as Senior Deputy Governor of Bank Indonesia, said Member of the House of Representatives Commission XI Amir Uskara in Jakarta on Thursday (7/11). Uskara revealed this decision was taken after conducting a fit and proper test and asking for consideration...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo immediately set a fiscal incentives for airlines to lowering the domestic airfare tariff. The fiscal incentives were given in the next two days. Secretary of Coordinating Economic Affairs Ministry Susiwijono Moegiarso said yesterday (07/10), president had signed the revision of Government Regulation Number...
JAKARTA (TheInsiderStories) - Indonesian state-owned rolling stock manufacturer, PT Industri Kereta Api (INKA) exports trains to several countries. While with Laos, the company joined with a number of SOEs will conduct business cooperation in various fields ranging from railroad infrastructure, mining, to agriculture . Based on the official statement, the SOEs consortium Indonesia...
JAKARTA (TheInsiderStories) - Indonesia' business activities in the second quarter (2Q) of 2019 improved compared the previous quarter, according to the latest survey of Bank Indonesia. This is reflected in the weighted net balance of 19.17 percent, higher than 8.65 percent in the previous quarter. However, the central bank said,...

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