Monday, June 17, 2019
JAKARTA (TheInsiderStories) - Indonesian government withdraw tax treaty rules for e-commerce through PMK Number 31/PMK.010/2019, said finance ministry on Tuesday (04/16). The new regulation is the legal basis for the government to revoke the prior regulation PMK Number 210/PMK.010/2018 concerning Tax Treatment of Trade Transactions of e-Commerce. "That in order to adjust...
Indonesia's PLN Chief Named Suspect in Power Project Graft Case
JAKARTA (TheInsiderStories) - The chief executive of Indonesian state electricity producer Perusahaan Listrik Negara (PLN) has been named a suspect in a graft case related to Riau-1 power project, Corruption Eradication Commission (CEC) said on Tuesday (04/23). The anti-graft commission suspects that Sofyan Basir, "accepted the promise" of a bribe, or...
Trump Welcomes Trilateral Trade US-UK-Japan after Brexit
JAKARTA (TheInsiderStories) - Amid the tariff war between the United States (US) and China which continues to negotiate, the world will witness an increase in trilateral trade cooperation between America, United Kingdom (UK), and Japan after the official Brexit decision was decided. The three countries signed their first trilateral cooperation...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) — A telecommunication provider, PT Indosat Ooredoo Tbk (IDX: ISAT) new CEO’ appointment has triggered question. The appointment of Ahmad Abdulaziz Al Neama as the company's new leader came without shareholders general meeting. Moreover, there has been three replacement in the last one year period. Indosat has let...
JAKARTA (TheInsiderStories) – United States-China trade tensions that have lasted more than a year have hit negatively on consumers and many producers in both countries. Rates have reduced trade between the US and China, but the bilateral trade deficit has remained unchanged broadly, according to the International Monetary Fund...
JAKARTA (TheInsiderStories) - British Prime Minister Theresa May on Tuesday offered United Kingdom (UK) lawmakers the chance to vote on whether to hold a new referendum on the country's membership in the European Union (EU)— but only if it backs her thrice-rejected Brexit agreement. May made the offer as part of...
JAKARTA (TheInsiderStories) – The government sets a reference price and export duty for Crude Palm Oil (CPO) products in June period of US$547.17/metric ton (MT). The reference price dropped 4.56 percent from May period, which was recorded at $573.31/MT. Meanwhile, cocoa bean reference price in June 2019 was $2,327.27/MT, down...
JAKARTA (TheInsiderStories) - Indonesian integrated petrochemical company, PT Chandra Asri Petrochemical Tbk (IDX: TPIA) received government’ tax holiday facility from its US$380 million polyethylene plant. Company gets revenue tax deduction by 100 percent for the first 10 years after commercial production, then 50 percent for the following 2 years. In February 2018, the...
JAKARTA (TheInsiderStories) — Global economic turmoil has made Indonesia pessimistic about achieving some of the macro assumptions target this year, as stated by finance minister Sri Mulyani Indrawati, in hearing with House of Representatives yesterday. Economic growth, treasury, to energy are some of the points hit by such condition. “In...
JAKARTA (TheInsiderStories) - A total of 32 coal miners proposed additional production with total amount of 21.9 million tons (MT) of coal by the end of this year for export purpose, said one government official yesterday. "There are 32 companies that have obtained permits for additional production from the ministry. The company could...
JAKARTA (TheInsiderStories) – Bitcoin and digital gold officially traded in Indonesia under certainty. Commodity Futures Trading Regulatory Agency (CoFTRA) has issued four regulations related to crypto-currencies and digital gold after existed in Indonesian market. The crypto and digital gold trade underlie in regulation Number 2 Year 2019 concerning the Implementation...
FICO: APAC Banks Still Fear for Next Money Laundering Breach
JAKARTA (TheInsiderStories) – Following the recent Asian money laundering scandal, there were around 91 percent of Asia-Pacific (APAC) banks thinking that the industry is still at risk of accidentally facilitating subsequent money laundering scandals, told FICO in the recent survey today (02/27). Based on the reports, most of respondents (62...
JAKARTA (TheInsiderStories) - PT Gorontalo Minerals, a subsidiary of PT Bumi Resources Minerals Tbk (IDX: BRMS), obtained a Production Operation Activity License from the Ministry of Energy and Mineral Resources. The permit is the basis for the company to develop and operate copper and gold mines in Gorontalo Province. Such...
Bombs in Sibolga: Three Suspected Terrorists from ISIS Affiliates Arrested
JAKARTA (TheInsiderStories) - National Police Chief General Tito Karnavian said three suspected terrorists in Sibolga Sibolga City, North Sumatra were captured by the police’s anti-terror squad Densus 88. He asserted that the bomb explosion didn’t link to the simultaneous Indonesian election this year, that it was terrorism. "All three are...
JAKARTA (TheInsiderStories) - Indonesia' Financial Services Authority (FSA) will revise the single presence policy (SPP) to lessen the number of banks in Indonesia, as well as to speed up the process of consolidation in the domestic banking sector, said the FSA Deputy last week. The old regulation, stipulated in Regulation...
JAKARTA (TheInsiderStories) – United States (US) experienced the biggest monthly budget deficit to US$234 billion, amid a 20 percent decline in corporate tax revenues and a boost in expenditure, according to an official report last week. Last year, the fiscal gap $215.2 billion. According to the official US' Treasury report, the...
JAKARTA (TheInsiderStories) – Many issues were raised during the second weeks of campaign period of the 2019 Presidential Election. In addition to the issue of the two camps' programs, the Indonesian Election Commission also received a two-side attacks. The one, reportedly having a server in Singapore to win the...
JAKARTA (TheInsiderStories) - Indonesia regulated the Provisions of Petroleum, Natural Gas and Other Fuels export and import, in order to maintain the availability of the materials in the country. Yesterday, Trade Ministry has issued Minister of Trade Regulation Number 21 Year 2019 that have an important role in the national economy. "This regulation...
The Fed's Powell: US Economic Growth Still Positive at a Healthy Level
JAKARTA (TheInsiderStories) – United States Federal Reserve policymakers hold its benchmark rate in the range of 2.25-2.5 percent and signal that there will be no more increases this year, it said on Wednesday (04/10). But, the central bank said that it still opens space for the possibility of a rate...
JAKARTA (TheInsiderStories) - The results of the 2019 Indonesian general election are in the process of being counted at the polling station. Both incumbent candidate Joko Widodo-Maruf Amin and opposition Prabowo Subianto-Sandiaga Salahuddin Uno agreed to wait for the official results announced by the General Election Commission as official...
JAKARTA (TheInsiderStories) - World leaders are gathering in Beijing from Thursday for a summit on China's Belt and Road Initiative (BRI) amid growing criticism of the project. The sweeping infrastructure project aims to expand global trade links. The initiative has funded trains, roads, and ports in many countries, but has...
Indonesia Govt Offers Transportation Infrastructure Projects Investment
JAKARTA (TheInsiderStories) - Ministry of Transportation (MoT) and Investment Coordinating Board (ICB) offered two types of land transportation projects namely terminals type A and 134 weigh bridges. The total projects has valued around Rp1.1 trillion or worth of US$76.97 million with public private partnerships (PPP). "This is guided by Government...
JAKARTA (TheInsiderStories) - Moody's Investors Service says that regulatory and economic developments in Indonesia (Baa2 stable) and China (A1 stable) will weigh on the earnings of Indonesian coal miners in 2019, while carbon transition poses a long-term risk to the credit quality of coal miners. "Indonesian thermal coal sector is...
JAKARTA (TheInsiderStories) – Indonesian food and beverage producer, PT Indofood Sukses Makmur Tbk (IDX: INDF) extended the purchase period of Indofood Agri Resources Ltd (IFAR) offering shares worth of US$289.23 million until June 25, 2019 from initially end on May 24, said the company today (05/24). Corporate Secretary Victor Suhendra...
JAKARTA (TheInsiderStories) - Indonesian politics heated up after the National Police arrested and named suspects in a number of vocal opposition supporters on treason charges. They are lawyer Eggi Sudjana, ex-general Kivlan Zain and famous activist Lieus Sungkharisma. On Tuesday (05/21) it was the turn of the former General Sunarko...
JAKARTA (TheInsiderStories) - United States (US) looks to improve defense cooperation with Indonesia, especially related to security stability in the Indo-Pacific region and the resolution of the South China Sea conflict. This was raised after acting Defense Secretary Patrick M. Shanahan met his counterpart Ryamizard Ryacudu in Jakarta today...
JAKARTA (TheInsiderStories) - Moody's Investors Service has assigned Baa2 ratings to the proposed senior unsecured dollar and/or euro-denominated notes to be issued by the Government of Indonesia (Baa2 stable). The planned drawdowns have maturities ranging from 7-10 years. According to the terms and conditions available to Moody's, the notes to be...
JAKARTA (TheInsiderStories) – Indonesian car sales dropped 15.36 percent to 81.218 in January 2019, the deepest since 2009. In the same period of 2018 the number of national vehicle sales reached 95,955 units. Of which Astra' production is 42,204 units, LCGC 11,540, and non-Astra 29,014 units. It is estimated that...
JAKARTA (TheInsiderStories) - Indonesia posted the worse trade deficit in the country' history. Previously, the deepest deficit of US$2.3 billion occurred in July 2013. Statistic Indonesia reported today (05/15), the nation posted trade deficit of $2.5 billion in April. Last month, the country only export $12.6 billion, or down 13.1 percent...
JAKARTA (TheInsiderStories) — Siam Cement Group (SCG), a packaging company from Thailand, will become major shareholder of PT Fajar Surya Wisesa Tbk (IDX: FASW) by acquiring 55 percent shares. For the action, SCG invested Rp9.6 trillion (US$665 million). The acquisition value is below Fajar Surya’ average price, which is tagged...

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