Tuesday, August 20, 2019
JAKARTA (TheInsiderStories) - PT Saratoga Investama Sedaya Tbk (IDX: SRTG), an investment holding firm, allocated fund US$100 million to invest in five new companies in the consumption and hospital sectors, said the director today (05/23). Director of Investment at Saratoga Devin Irawan said the company wants to invest in hospitals...
Indonesia Assesses the Policy of Financial Liquidity Loan Collaboration
JAKARTA (TheInsiderStories) — Indonesia state budget deficit swelled to Rp101 trillion (US$7billion) in April, almost twice higher than Rp54.9 trillion in the same period last year. Finance Minister Sri Mulyani Indrawati, in a press conference Thursday, explained that Indonesia’s revenue collection was Rp530.7 trillion, while the expenditure reached Rp631.78...
JAKARTA (TheInsiderStories) - Japan and the United States (US) will hold working-level talks on trade in the United States on June 10-11, Japan’s economy minister, Toshimitsu Motegi, said on Tuesday (06/4). During the talks, the two countries will discuss technical aspects of industrial and agricultural goods trade, Motegi told a news...
JAKARTA (TheInsiderStories) - Indonesian will sale two dual-currency government bonds for US$750 million (Rp10.72 trillion) in RI0929 series and €750 million in RIEUR0926 series, as a part of state budget financing, stated by the Financing and Risk Management General Directorate of Finance Ministry in Jakarta, Wednesday (06/12). This is Indonesia’s...
JAKARTA (TheInsiderStories) - The world’s low-cost carrier, AirAsia Berhard bought 200 LEAP-1A aircraft engines from CFM International with a value of US$23.1 billion. The signing of the contract was signed on the sidelines of the 2019 International Paris Air Show at La Bourget, Paris, France, on June 18. Holding company of Indonesia's PT...
JAKARTA (TheInsiderStories) - The Federal Reserves (Fed) chair Jerome Powell said that the downside risks to the United States (US) economy have escalated recently, reinforcing expectations that the central bank is likely to trim the Fed Fund Rate (FFR) next month. In a speech on Tuesday (06/25), he also warned...
JAKARTA (TheInsiderStories) - Ormat Technologies Inc., (NYSE: ORA), has signed an agreements to acquire 49 percent of the Ijen geothermal project company, which is holding the license in East Java, said the company today (07/02). Ijen Project is currently at exploration stage. The United States' provider of alternative and renewable energy...
JAKARTA (TheInsiderStories) – Indonesian Transportation Ministry released a new tariff for online motorbike taxi and will be implemented in 41 cities, said the spokesman last week. Its expected the new regulation will improve the service quality and prevent unfair competition among applicators. Budi Setiyadi, the ministry spokesman, said the new tariff was...
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) - Taiwanese Apple supplier, Compal Electronics look Indonesia become its new investment destination. Currently, the manufacturer of sophisticated electronic products such as iPad, iPhone, and Apple Watch is looking for a new location the Southeast Asian (ASEAN) region for production. "Compal are looking a new locations in ASEAN. They will...
JAKARTA (TheInsiderStories) - West Java' provincial government and British-based Plastic Energy, has agreed to build a plastic waste processing plant into biodiesel in early 2020. The project is estimated need costs US$214.3 million and become the first in Southeast Asia. The signing agreement took place after West Java Governor Ridwan...
JAKARTA (THeInsiderStories) – Indonesia will negotiate a palm oil dispute with European Union (EU) which plans to provide a proposal to impose import duties on biodiesel from Indonesia by 8-18 percent. The policy will be applied provisionally as of Sept. 6, 2019, and is determined definitively as of Jan....
JAKARTA (TheInsiderStories) - Japan' Mitsubishi Corporation announced on Wednesday (07/31) the signing of a joint venture between its subsidiary PT Diamond Development Indonesia and PT Sirius Surya Sentosa, unit of PT Vasanta Indo Property, to develop a multifunctional property in Bekasi, West Java, at a total cost of Rp9.8...
JAKARTA (TheInsiderStories) - When President Donald Trump and Xi Jinping agreed at the G20 meeting in Osaka, Japan to resume trade talks, seasoned observers knew this was a fragile truce at best. But even this crowd was caught off guard by Trump' new tariffs announcement after a briefing from...
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) - The government will provide additional capital of Rp17.7 trillion (US$1.24 billion) for eight state-owned enterprises (SOEs) in 2020. That figure is down by Rp10 billion compared to 2019 of Rp17.8 trillion. The funding is intended to continue the development of energy sector infrastructure and connectivity between...
Indonesia's Forex Reserves US$124B in March
JAKARTA (TheInsiderStories) - Indonesian government pay attention on the Rupiah movement and trade war. Therefore, President Joko Widodo summoned ministers and related stakeholders in the financial sector to highlight the latest economic developments. After the meeting, Coordinating Minister for Economic Affairs Darmin Nasution explained, the President Widodo and and the stakeholders...
South Korea's Hyundai, Grab Wants to Develop Electric Vehicles in Indonesia
JAKARTA (TheInsiderStories) – The government continues to open investment taps for foreign companies that want to invest in Indonesia. One of them is by establishing business partners with Hyundai Motor Corp., a South Korean motorized vehicle company. Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan said today (02/20), Hyundai want...
Indonesian Banking Prepares Its Strategies Facing FinTech Development
JAKARTA (TheInsiderStories) – The Indonesian financial technology (FinTech) is continues to grow rapidly, even though it developed in the past few years. Morgan Stanley reported the number of digital payment transactions in the country will reach US$ 50 billion in 2027. This value is reasonable, because in 2018, the value...
Indonesia, Thailand Central Bank Strengthen Cooperation in Payment Systems
JAKARTA (TheInsiderStories) – Bank Indonesia (BI) is optimistic that the Rupiah could be stronger than the previous year. Although the local currency fell 0.21 percent today (03/04) to 14,140 against the US dollar compared to last weekend, said the Governor Perry Warjiyo. He rated, the Rupiah position still undervalued. "Last year the Rupiah...
Indonesia's Forex Reserves US$124B in March
JAKARTA (TheInsiderStories) – Bank Indonesia (BI) will act quickly to maintain the stability of the rupiah exchange rate against the US dollar. These actions range from regular Domestic Non Deliverable Forward (DNDF), Term Repo and Forex Swap auctions, told TheInsiderStories, today (03/11). Executive Director of Monetary Management Department BI Nanang...
Indonesia's Phapros Conducts Right Issue $71.42M in 2nd Half of 2019
JAKARTA (TheInsiderStories) – PT Phapros Tbk (IDX: PEHA) planned to conduct a rights issue with a target of Rp1 trillion (US$71.42 million) in the second half (2H) of 2019 by releasing 20 percent of the total listed shares, according to the management today. President Director of Phapros Barokah Sri Utami...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) -  Moody's Investors Service ("Moody's") has revised the outlook on P.T. Indosat Tbk' (lndosat Ooredoo) ratings to negative from stable. At the same time, Moody's has affirmed the company's Baa3 issuer rating. "The negative outlook reflects a weakening in Indosat's financial metrics driven by the company's plans for accelerated...
The US Trade Deficit
JAKARTA (TheInsiderStories) - United States (US) Commerce Department reported the country trade deficit narrowed to US$51.1 billion in January of 2019 from an upwardly revised $59.9 billion in the previous month, which was the largest since 2008. Export rebounded, mainly due to soybeans and motor vehicles and parts and imports...
GMF AeroAsia Assigned as ASEAN's Airbus Components Repairs
JAKARTA (TheInsiderStories) – Following PT Garuda Indonesia Tbk (IDX:GIAA)'s move cancelling Boeing 737-8 MAX order, Airbus is now tightening its grip to this Indonesia's biggest airline. Garuda Indonesia's subsidiary, PT Garuda Maintenance Facility (GMF) AeroAsia now provides Airbus components repairs service for Southeast Asia. GMF AeroAsia will manage the A330...
JAKARTA (TheInsiderStories) — Indonesian plantation company, PT Eagle High Plantations Tbk (IDX: BWPT) and Malaysia' Federal Land Development Authority (Felda) drama is still ongoing. The management said there has been a cheating on the Eagle High Plantation shares sales and purchase owned by the Rajawali Group, the theedgemarket reported. Today...
JAKARTA (TheInsiderStories) - Indonesian Automotive Industries Association reported the country' car sales dropped 13 percent to 253,863 units in the first quarter of 2019 compared to the same quarter in 2018. In March the sales lowered 11.4 percent to 90,189 units compared to the previous year, the lowest since 2012,...
JAKARTA (TheInsiderStories) – Finance ministry of Indonesia absorbed funds of Rp23.4 trillion (US$1.67 billion) from the auction of seven series of government bond from a total offer Rp41.76 trillion, said an official statement on Tuesday (04/23). According to the Directorate General of Financing and Risk Management of the Ministry of...
JAKARTA (TheInsiderStories) – An Astra International Group subsidiary, PT United Tractors Tbk (IDX: UNTR), prepared US$800 million in capital expenditure (capex) to develop its business lines, including the purchase of new heavy equipment owned by its unit PT Pamapersada Nusantara (PAMA). Corporate Secretary of the company Sara K. Loebis explained,...
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...

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