Wednesday, July 17, 2019
JAKARTA (TheInsiderStories) - Canadian venture exchange oil and gas publicly traded company, Sonoro Energy Ltd. (TSXV: SNV) has entered into a strategic alliance agreement with one of Indonesia's largest companies to develop oil and gas activities in Budong Budong Production Sharing Contract (PSC) as joint partners, it said on Tuesday (11/09). This strategic relationship...
JAKARTA (TheInsiderStories) - Moka, a fast-growing Indonesian cloud-based point-of-sale system, has raised US$24 million Series B round led by Sequoia India. The round included new investors SoftBank Ventures Korea, Singapore-based EDBI, EV Growth, as well as existing investors PT Mandiri Capital, Convergence, and Fenox. The new capital will give the company...
JAKARTA (TheInsiderStories) - Indonesian Government through State Owned Enterprises (SOEs) has shaken up again the management of Energy producer PT Pertamina through the extraordinary shareholders meeting held today (13/09) at the ministry office. According to our reliable sources close to the company, Finance Director of Pertamina Arief Budiman has sent his...
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the B2 corporate family rating of Alam Sutera Realty Tbk (P.T.) and affirmed the B2 backed senior unsecured rating of the 2020 notes and 2022 notes issued by Alam Synergy Pte. Ltd., a wholly owned subsidiary of the company. The notes are guaranteed by Alam Sutera and...
JAKARTA (TheInsiderStories) - Former Social Minister Idrus Marham has been detained for the next 20 days by Indonesia' Corruption Eradication Commission in connection with bribery case for Riau-1 coal fired power plant project. On Friday (31/O8), Marham walked out of the Corruption body's lobby at 6.25 p.m . He was guarded to...
Indonesia's XL Axiata Raises US$90.8 M from Bond Issuances
JAKARTA (TheInsiderStories) - Indonesian cellular operator PT XL Axiata Tbk (IDX: EXCL) published two debt securities under a two-year program with total amount Rp2 trillion (US$68.96 million), it said on Thursday (13/09). The unit of Malaysian Axiata Group Bhd has planned to issue debt securities with total amount Rp5 trillion...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo and Vietnam President Tran Dai Quang are committed to develop the economic cooperation between the two countries, it said in official statement on Tuesday (11/09). "In the past three years, our trading trend has been quite good and reached a value of US$6.8 billion. We...
Insight: Questioning Trump's Denuclearization Commitment
JAKARTA (TheInsiderStories) - Four global leaders meeting this September will give major influences to the global market amid the high tense in Korean Peninsula. North Korean leader Kim Jong Un has requested a second summit with United States (US) President Donald Trump after their first meeting in Singapore. At the same time...
JAKARTA (TheInsiderStories) – The House of Representatives’ Commission-XI, which is in charge of state budget, has approved the macroeconomic assumptions in the 2019 state budget with economic growth being targeted at 5.3 percent and inflation at 3.5 percent. During the hearing with the House’s state budget commission led by Commission-XI Chairman Melchias...
JAKARTA (TheInsiderStories)—Indonesia's President Joko Widodo on Thursday (21/06) announced a Rp11 trillion (US$789.8 million) plan to add a fourth terminal at Soekarno-Hatta International Airport. The current development process is in the engineering design process with construction estimates starting in 2020. Soekarno-Hatta Airport operator PT Angkasa Pura II (Persero) will invite...
 JAKARTA (TheInsiderStories) -  Indonesian government will release a national gas balance which will show the total supply of gas, producers and consumers across the country. The government will also develop gas as one of the prime movers of the economic growth, and not only as a commodity as it is...
JAKARTA (TheInsiderStories) - The Indonesian government decided to raised the value tax of Article 22 for 1,147 imported commodities to 7.5 percent to 10 percent from the original rate around 2.5-10 percent, said one senior official on Wednesday (05/09). While the imposition of income tax for other specified 57...
JAKARTA (TheInsiderStories) - Indonesia Supreme Court ordered the Minister of Transportation to revoke the Regulation Number 108 of Year 2017 concerning the Implementation of Transportation of People with Public Motorized Vehicles Not in Routes. Case began when the ministry issued the regulation on June, 2017. During the process of making of the rules,...
JAKARTA (TheInsiderStoriesI - The Trump Administration has announced a second tranche of tariffs on China, with a 10 percent tariff on an additional US$200 billion of Chinese products to be imposed from 24 September. According to Rajiv Biswas, Asia Pacific Chief Economist at IHS Markit, these measures have been taken as part...
JAKARTA (TheInsiderStories)—Retailer PT Mitra Adiperkasa Tbk (MAPI) had obtained a shareholder’s approval on Monday for 10-for-1 stock split which will boost liquidity of the company’s stock on the Indonesia Stock Exchange. The stock split approval will value Mitra Adiperkasa’s shares at Rp800 a piece from currently Rp8,000. The company’s shareholders also approved a dividend...
JAKARTA (TheInsiderStories) - Moody's Investors Service says that Indonesia's (Baa2 stable) broadly sound economic fundamentals and strengthened policy framework are containing credit risks associated with the Rupiah's recent decline, but additional currency weakness would have economy-wide credit-negative effects, especially given the government and corporate sector's reliance on external funding. "In recent years, policymakers...
JAKARTA (TheInsiderStories) - PT Pertamina, an Indonesia' largest energy firm officially acquired Southeast Sumatra (SES) through its unit PT Pertamina Hulu Energi (PHE), said the company on Thursday (07/09). The state-owned firm has officially seize the working area of Southeast Sumatra (SES) of the old operator CNOOC SES Ltd. to...
JAKARTA (TheInsiderStories) - The United States (US) government gives an exception to 19 types of steel products carbon and alloy also stainless steel from global import tariffs of 25 percent, said trade minister on Monday (03/09). This decision was issued on August 2 after Indonesia obtained an exceptions for 142 applications for...
JAKARTA (TheInsiderStories) - The country's flight carrier PT Garuda Indonesia Tbk (IDX: GIAA) sued Rolls Royce PLC and Rolls Royce Total Care Services Limited, said the company lawyer on Monday (17/09). The lawsuit was filed by the sate-owned firm in the Central Jakarta District Court on Sept 13, 2018. For this...
JAKARTA (TheInsiderStories) - The biggest steel plant in Asia to build in Indonesia, said Deputy Governor of Central Java Heru Sudjatmoko was quoted by Antara on Tuesday (24/07). He said, China-based steel producer Hebel Bishi Steel Group has invested US$2.54 billion to build steel plant in Kendal regency, Central Java. In 2015, Hebei has...
JAKARTA (TheInsiderStories) - Policy makers across Southeast Asia are turning their focus on bolstering their domestic markets to cushion the blown from the U.S and China trade war play out. That also includes Indonesia which has huge dependency on trade from the two giant nations. U.S President Donald Trump said on...
JAKARTA (TheInsiderStories) - Indonesia and South Korea have a potential to strengthen cooperation in the economic sector, especially increased investment in the manufacturing industry sector, said one senior official in written statement on Sunday (09/09). Collaboration opportunities for these two countries will be realized in the series of Indonesia's President Joko Widodo's visit to...
JAKARTA (TheInsiderStories) - Indonesia and South Korea has signed 15 15 memorandums of understanding (MoU) and six investment commitments  worth of US$6.2 billion on Monday (10/09) at Blue House, Seoul. In the last meeting on November 2017, both countries signed potential investment and trade with total amount of $2 billion. The signing...
by Henry BL Toruan, PHD What is sharing economy? Sharing economy is a term with a range of meaning including open source, on-line collaboration, file sharing, peer-to peer transaction, and many more. Most scholars identify the so called 'sharing economy as 'collaborative consumption' (CC) which is essentially the peer-to-peer based...
JAKARTA (TheInsiderStories) - PT Astra International Tbk (IDX: ASII), one of Indonesia’s largest diversified holding companies, through its subsidiary PT Sedaya Multi Investama, and WeLab, a leading technology enabler for consumer lending in China and Hong Kong established financial technology (FinTech) joint venture company, PT Astra WeLab Digital Arta (AWDA). AWDA aims...
JAKARTA (TheInsiderStories) – The Indonesian Government assigns Nicke Widyawati to be chief executive of state-owned energy firm PT Pertamina at extraordinary meeting on Wednesday (29/08), said TheInsiderStories' sources. Previously two names competed to fill the number one position in oil and gas company own by government former marketing director of Pertamina Hanung Budya Yukyantana and...
JAKARTA (TheInsiderStories) - Indonesian coal miner, PT Bayan Resources Tbk (IDX: BYAN) will acquired 44.95 percent shares of Australian miner Kangaroo Resources Limited (ASX: KRL) for US$515 million, said the company on August 17. Bayan currently holds approximately 56.05 percent of Kangaroo. Based on the company announcement, Bayan bought Kangaroo's shares at $0.15...
JAKARTA (TheInsiderStories) - Good morning. The hike of insured interest rate and the government's debt auction failed to provide support to the Rupiah on Wednesday (12/09). While the Jakarta Composite Index ended on the red as investors stayed away from equity market. Indonesia Deposit Insurance body, has raised insured interest rates on Rupiah-denominated...
JAKARTA (TheInsiderStories) - Japan’s real GDP growth for the second quarter of 2018 was revised up to 0.8 percent quarter to quarter (QoQ, or 3.0 percent QoQ annualized), from 0.5 percent on QoQ (or 1.9 percent on Qoq annualized). The solid upward revision reflected stronger private capital investment as suggested...
JAKARTA (TheInsiderStories) - PT Indonesia Asahan Aluminium (Inalum), a state-owned mining holding, has secured US$3.8 billion short-term loan facility from a syndicate banks led by Bank of Tokyo Mitshubisi to pay 51 percent of PT Freeport Indonesia (PTFI) divestment shares. To pay this debt, the miner has a plan to issue...

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