Wednesday, May 22, 2019
By Brian Jackson, China Economist, IHS Markit Key Points: China's official manufacturing purchasing managers' index (PMI) was unchanged at 51.2 in May, according to a release from the National Bureau of Statistics. The index declined in April from a five-year high of 51.8 in March. Output expanded at a slower...
JAKARTA (TheInsiderStories) – PT Integra Indocabinet Tbk, a furniture producer, aims to raise fresh funds between Rp565-Rp848 billion through selling 35 percent of its shares or 2.69 billion unit shares, in an initial public offering (IPO). Halim Rusli said the company sets IPO price at Rp2100315 shares Apart from producing...
JAKARTA (TheInsiderStories) - Lippo Group on Thursday (May 4) revealed its plan to develop new satellite town in West Java, on the Jakarta-Bandung corridor, with estimated investment of Rp278 trillion. The new satellite town will be called Meikarta. Meikarta satellite town will be developed on 22,000,000 square meters of land....
JAKARTA (TheInsiderStories) -Gain and Win Pte. Ltd, an affiliated of PT Bumi Resources Minerals Tbk (IDX: BRMS) sell 51 percent shares of zinc-lead silver mining unit PT Dairi Prima Mineral to China Nonferrous Metal Industry’s Foreign Engineering & Construction Co. Ltd to pay debt, said one official. The signing of a share...
Moody's Investors Service has changed its outlook on the Indonesian banking system to positive from stable, reflecting their view that banks will see improvements in their operating environment, asset quality, as well as the capacity by the government to extend support when necessary. "Indonesian banks will benefit from an improving...
JAKARTA (TheInsiderStories) - One of Chinese largest online retailer JD.com Inc.(NASDAQ: JD) is in talks to acquire a major stake in one of Indonesian marketplace operator Tokopedia. Sources indicate JD will invest of hundreds of millions of dollars and the move marks the company's accelerated expansion into Southeast Asia followed its competitor...
JAKARTA (TheInsiderStories) - PT Perusahaan Gas Negara Tbk (IDX: PGAS), publicly listed state-owned gas distributor, has set capital expenditure (Capex) of US$ 500 million for this year, said a company official. Portion of the capital expenditure will be obtained from its subsidiary PT Saka Energi Indonesia that has raised...
JAKARTA (TheInsiderStories) - Tanjung Kelayang Special Economic Zone (SEZ) in Bangka Belitung provicne began flooded by investment worth US$1,06 million (Rp14 trillion) to build of ports, hotels and resorts, the senior official said. Coordinating Minister for Economic Affairs Darmin Nasution, Minister of Transportation Budi Karya Sumadi, Bangka Belitung Island Governor Erzaldi...
JAKARTA (TheInsiderStories) - The heating of political tension in the Middle East marked by the decision of several Arab countries (Saudi Arabia, the United Arab Emirates/UAE, Bahrain, Egypt) to cut diplomatic relations with Qatar, boosts the risks of global uncertainty. Coordinator Minister of Economics Darmin Nasution said Indonesia would only have less...
JAKARTA (TheInsiderStories) - Citilink, budget airline of flag carrier PT Garuda Indonesia Tbk (IDX:GIAA) plans to add its flights to China cities this year both for regular and charter flights.  President Director of Citilink Juliandra Nurtjahjo said Citilink plans to add regular flight services to six destinations from three cities...
JAKARTA (TheInsiderStories) - PT Bukopin Tbk plans to launch rights issue with maximum limit of 30 percent of the company's total shares, or 2.725 billion unit shares out of total shares of 9.086 billion units shares. The planned rights issue have been approved by the bank's sharehodlers at the...
JAKARTA (TheInsiderStories) - Cement producer PT Indocement Tunggal Prakarsa plans to build two new cement terminals as a move to support the company's cement distribution across the country. Company President Director Christian Kartawijaya was quoted by Bisnis Indonesia as saying that one of the cement terminals will be built...
JAKARTA (TheInsiderStories) - The State Owned Enterprise Ministry has shaken up the directors board of national gas distribution company PT Perusahaan Gas Negara Tbk (IDX:PGAS) by appointing new president director as well as two new directors. The decision was made the company's annual shareholders meeting (AGM) on late Thursday. The AGM...
JAKARTA (TheInsiderStories) - Publicly listed tower operator, PT Sarana Menara Nusantara Tbk (IDX: TOWR) purchase 1.35 billion shares or representing 13.32 percent of the total issued and paid up shares in the company from the shareholders. The purchase agreement has signed on April, 28 after the private placement hase been launched...
JAKARTA (TheInsiderStories) - Flag-carrier Garuda Indonesia has officiated direct flight from Denpasar to Chengdu, as part of the company's drive to expand its international routes. The inauguration of the flight, attended by Garuda Indonesia Director for Commercial and IT Nina Sulistyowati and Director for Cargo Sigit Muhartono, was held at...
JAKARTA (TheInsiderStories) - Indonesia publicly listed lender, PT Bank OCBC NISP Tbk (IDX: NISP), unit of Singapore's Oversea-Chinese Banking Corporation (OCBC) will start a private banking unit. The announce came after the bank said that it has entered into an agreement to acquire National Australia Bank’s (NAB) Private Wealth business in Singapore...
JAKARTA (TheInsiderStories) - The State Owned Enterprise Ministry (SOE) has decided to sack Budi Tjahjono as President Director of Askrindo, after the Corruption Eradication Commission (KPK) declared him as a suspect in a corrupted case. Budi Tjahjono was implicated in a case when he was president director of PT Jasindo, a state...
JAKARTA (TheInsiderStories) -  Sumpal gas compression project in Corridor Block, South Sumatra managed by PT ConocoPhillips Indonesia begins faster than the initial target of July, 2017. Energy and Mineral Resources Minister Ignasius Jonan said in a press statement, the Sumpal gas compression project will pump production at the Grissik...
  JAKARTA (TheInsiderStories) - The newly appointed President Director of PT Garuda Indonesia Tbk (IDX:GIAA) Pahala N. Mansury, has one huge task on his hand, namely turning the company in green again after suffering net loss in the first quarter of 2017. As shown by the company's unaudited first quarter 2017...
JAKARTA (TheInsiderStories) - Bank Indonesia hold its benchmark rate  at 4.75% to maintain macroeconomic and financial stability as well as to support domestic economy recovery amid global volatility risks. "Board of Governors' Meeting decided to keep the BI 7-Days-Repo-Rate steady at 4.75% with the deposit facility rate remained at 4%...
JAKARTA (TheInsiderStories) - PT Astratel Nusantara, a subsidiary of PT Astra International Tbk (IDX: ASII), has increased its share ownership in the Cikopo-Palimanan (Cipali) toll road to 45 percent, strengthening the company's investment portfolio on the toll road business. Astratel Nusantara has bought 60 percent shares of PT Baskhara Utama Sedaya (IDX:...
JAKARTA (TheInsiderStories) - State owned property firm PT HK Realtindo, a subsidiary of state owned construction company PT Hutama Karya, has acquired a total of 80 hectares of land in three locations that will be used to build property projects. The total investment to develop the three projects would...
JAKARTA (TheInsiderStories) - PT Bumi Resources Tbk (IDX:BUMI), the country's largest coal producer targets coal sales volume rise of 5-7 percent for 2017 and coal price increase of 30 percent for full year 2017. The company maintains its target given encouraging results in the first quarter of 2017. In the first quarter,...
JAKARTA (TheInsiderStories) - PT Waskita Karya Tbk (IDX: WSKT), state-owned construction firm, is offering stakes in its 17 toll roads to investors in order to raise fresh funds to build new toll roads. The move is in line with President Joko Widodo's direction to the State-Owned Enterprises (SOEs) to sell existing...
JAKARTA (TheInsiderStories) - The Indonesian government has filed a Rp 27.4 trillion compensation lawsuit at the Central Jakarta District Court over the explosion tragedy at the Montara oil and gas field in Australia in 2009, which has polluted the waters of the Timor Sea, East Nusa Tenggara (NTT) province. The...
JAKARTA (TheInsiderStories) - Toll Road Regulatory Agency (BPJT) plans to auction two toll road projects to investors, as a move to improve connectivity in the country. The two toll roads are the Serang-Panimbang toll road section with a length of 83.9 kilometers and estimated investment of Rp11.4 trillion in Banten province...
JAKARTA (TheInsiderStories) - The Asia Development Bank (ADB) will disburse loan US$ 600 million to improve its irrigation system in Indonesia. ADB said in a press statement, that the program will help farmers in 74 regencies by improving water delivery. ADB loan will focus on improvement on irrigation system performance and to...
JAKARTA (TheInsiderStories) – State owned home mortgage financing comp;any PT Sarana Multigriya Finansial is issuing bonds worth Rp1 trillion, aiming at raising fresh funds to expand its home financing activities. The bond offering will last until May 30, the company’s president director Ananata Wiyogo was quoted by Bisnis Indonesia...
JAKARTA (TheInsiderStories) - State electricity company PT Perusahaan Listrik Negara (PLN) board is conducting roadshow in a number of world's financial center including London and New York to market its plan US$3 billion bonds issuance. "We are heading to Europe and US to market the bonds on Monday (May...
JAKARTA (TheInsiderStories) – State-owned construction company PT Adhi Karya Tbk (IDX:ADHI) announced its plan on Wednesday to issue bonds worth Rp3.5 trillion to partly funds the light rapid transport (LRT) in the Greater Jakarta area (Jabotabek), as the government drafting ruling to provide political and investment guarantee. The bonds will...