Thursday, June 20, 2019
JAKARTA (TheInsiderStories) - Go-Jek, Indonesia’s biggest ride-hailing firm, has been ordered to wait for permits issued by Bank Indonesia before it can go through with its planned acquisition of three financial technology companies (fin-tech), namely, Midtrans, Mapan, and Kartuku, a daring move to strengthen its electronic wallet service business. Bank...
JAKARTA (TheInsiderStories) - A South Korean company, Apro Financial Co. Ltd., settled 77.38 percent shares of PT Bank Dinar Indonesia Tbk (IDX: DNAR). The acquisition valued Rp690.98 billion (US$46.07 million). The takeover executed on Oct. 25th, as announced in Indonesia Stock Exchange last week. Based on the announcement, Apro Financial bought 1.74 billion...
JAKARTA (TheInsiderStories) - Indonesia's Ministry of Energy and Mineral Resources (MEMR) again give a temporary export permit to PT Freeport Indonesia (PTFI) due to the share sales with U.S's Freeport-McMoRan Gold & Copper Inc. (NYSE: FCX) and Australian Rio Tinto's participation rights not yet completed. Since the beginning of this year the government...
JAKARTA (TheInsiderStories) - In the first trading of 2019, the Jakarta Composite Index (JCI) dropped 0.27 percent to 6,178.03 compared to last week. While Rupiah stabled at 14,470.05 against the US dollar from yesterday. Coordinating Minister for Economic Affairs Darmin Nasution assessed the main problem come from the global side and...
JAKARTA (TheInsiderStories) – Indonesia’s trade surplus reached US$1.63 billion in June 2017,the Central Bureau of Statistics (BPS) reported. In June 2016, Indonesia's trade surplus was $880 million. The trade surplus supported by $1.96 billion surplus in non oil and gas sector while oil and gas sector posted deficit of $330 million, Considering...
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)—The intergovernmental organization Council of Palm Oil Producers Countries (CPOPC), which has members countries of two top palm oil producers in the world: Indonesia and Malaysia, protests UK Supermarket Iceland Co policy over palm oil ban in their retail chain by the end of 2018. The CPOPC called The...
JAKARTA (TheInsiderStories) - Indonesian National Transportation Safety Committee (NTSC) said Lion Air JT 610's engine has damaged on the last four flights before crashed in Karawang waters, in West Java. The plane breaks when it touches water when engine still on, which is indicated by a compressor that we find...
JAKARTA (TheInsiderStories) - PT Mas Murni Indonesia Tbk (IDX: MAMI) offered as much as 7.18 billion new shares with target funds Rp718.65 billion (US$49.91 million), said the company today (05/30). The hospitality and property developer set the rights issue price at Rp100 a share. It said, the planned have get an approval from...
JAKARTA (TheInsiderStories) – The Indonesian Election Supervisory Board expressly rejected the opposition faction's claim of alleged structured, systematic and massive election fraud which harmed Prabowo Subianto-Sandiaga Salahuddin Uno. The rejection was made because the opposition’ evidence submitted did not support fraudulent claims. The Chairperson of Election Watch Abhan said that...
JAKARTA (TheInsiderStories) - The head of the International Monetary Fund (IMF) Christine Lagarde, said on Thursday (5/10) that "the long-awaited global recovery is taking root" and that three-quarters of the globe is enjoying an economic upswing in "the broadest-based acceleration since the start of the decade." In remarks prepared for delivery at...
JAKARTA (TheInsiderStories)- The Group of 20 (G20) minister of finance aimed to collect taxes from giant tech companies like Google and Facebook, according to a draft of a joint statement released on Saturday (06/8). Finance ministers from the world’s largest economies said they aimed to agree on new rules by...
JAKARTA (TheInsiderStories) – Restructured loans have grown substantially in Thailand and Indonesia in recent years, underscoring high latent asset risks in the two countries, international rating agency Moody’s Investors Service stated in an in-depth report published on Thursday (08/24). Moody’s did however add in its assessment that the banking system...
JAKARTA (TheInsiderStories) - Moody's Investors Service has assigned a Ba3 corporate family rating (CFR) to Bayan Resources Tbk (P.T.). The rating outlook is stable. RATINGS RATIONALE "Bayan's Ba3 rating reflects its growing thermal coal production levels following the ramp-up at its Tabang mine, long reserve life of around 30 years, as well as strong profitability,...
Indonesia Invests US$1.5 M to Bulid MotoGP Sircuit in Mandalika
JAKARTA (TheInsiderStories) – Indonesian government states its readiness to hold the next 2021 MotoGP event in Mandalika, Lombok, West Nusa Tenggara. The planned is estimating need costs US$1.5 billion. In the meeting with CEO Dorna Sport Carmelo Ezpeleta in Bogor Palace on Monday (03/11), President Joko Widodo said the government...
JAKARTA (TheInsiderStories) - Political volatility within the next two years is unlikely to disrupt the Indonesian economy. Such optimism was shared by a number of government officials and business leaders when referring to simultaneous 2018 regional elections held across the nation, as well as the 2019 parliamentary election and...
JAKARTA (TheInsiderStories) - Rupiah weakening going further to 15,133 again the US dollar on Thursday (04/10). Several Observers assessed this happened due to the lack of coordination between the government and Bank Indonesia (BI) to reduce the negative sentiment from the global economy. The weakest since the Asian financial crisis in...
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) – The issues of natural resources and the environment are two major themes discussed in the second debate of presidential candidates Jokowi Widodo versus Prabowo Subianto in Jakarta on Sunday (02/17). The two candidates acknowledged having different work strategies to overcome environmental pollution, agrarian reform, mine pit...
JAKARTA (TheInsiderStories) - Indonesia’s economy is predicted to expand by 5.3 per cent in 2018 and 2019, thanks to the expected accelerated in investment and stronger household consumption, the Asian Development Bank (ADB) said in its flagship annual economic publication released on Wednesday (11/04). The ADB's Asian Development Outlook (ADO)...
JAKARTA (TheInsiderStories) - President Joko Widodo met with leading investor and businessman Li Ka-Shing in Hong Kong on Monday morning (May 1) as part of his overseas visit to lure foreign businessmen to invest in Indonesia. Speaking during a business forum in Hong Kong, the President told the businesss gathering...
Indonesia March Inflation Rate Stands at 0.11%
JAKARTA (TheInsiderStories) – Indonesia' trade balance in February 2019 has a surplus of US$330 million. This was caused by the increase in the value of exports which reached $12.53 billion, while the value of imports dropped by 18.61 percent to $12.20 billion. Decreased of import was due to the decline in oil...
JAKARTA (TheInsiderStories)--Indonesia-based peer-to-peer lending (P2P) financial technology (FinTech) startup Akseleran targets loan disbursement of Rp200 billion (US$13 million) this year. Co-Founder & Chief Executive Officer Akseleran Ivan Nikolas Tambunan on Thursday (5/7) said the company disbursed more than Rp67 billion (US$4.6 million) loans since its launch in October last year. The loans purpose...
Indonesia's Foreign Capital Inflows US$6.3B in 1Q 2019
JAKARTA (TheInsiderStories)— Bank Indonesia (BI) has surprised markets by holding an unscheduled meeting on May 30 and deciding to hike interest rates by 25 basis points for the second time in one month. BI itself has sent a signal that another hike of the benchmark rate is on the table at...
JAKARTA (TheInsiderStories) – Indonesia Energy and Mineral Resources (EMR) ministry just signed an agreement over the third stage of oil and gas blocks auction. The agreement was signed by Special Task Force for Upstream Oil and Gas Business Activities chief Dwi Sutjipto and the blocks contractors on Monday (02/18). The...
JAKARTA (TheInsiderStories) – The Indonesian Stock Exchange Composite Index or the Jakarta Composite Index (JCI) closed at all-time high on Friday (29/12), as President Joko Widodo attended the closing trading  ceremony. The Jakarta Composite Index (JCI) closed at 6,355.65 points, up 0.55 per cent from previous day. For the whole...
By Harumi Taguchi, Principal Economist, IHS Markit  Key Points: ŸJapan’s private machinery orders excluding volatiles, rose by 5.6% month-on-month (m/m) in October following an 8.1% drop in the previous month. The improvement reflected a 7.4% rise in orders from the manufacturing sector following a 5.4% drop the previous month, and a...
Singapore -- Moody's Investors Service has assigned a first-time Ba2 corporate family rating (CFR) to Wijaya Karya (Persero) Tbk. (P.T.) (WIKA). The rating outlook is stable. RATINGS RATIONALE As a government-related issuer (GRI), WIKA's rating reflects a combination of (1) its b1 baseline credit assessment (BCA), and (2) a two-notch uplift based on Moody's expectation...
China, Indonesia Coal Consumption Still Stable in 2019
JAKARTA (TheInsiderStories) - Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said that the government will delayed over than 15,000 megawatts' (MW) power plant projects in order to control imported components. The majority of the postponed power projects are located in Java. He told reporters at the parliament on Wednesday (05/09),...
JAKARTA (TheInsiderStories)--As Indonesia poverty rate reached a record low, the government wasted time to claim victory while oblivious about the issue of income inequality. Central Statistics Agency on Monday (16/07) reported Indonesia recorded 9.82 per cent of the poverty rate in March 2018, the lowest since the financial crisis hit the...

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