Friday, August 16, 2019
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) - PT Medco Energi Internasional Tbk (IDX: MEDC) filed notice to the Financial Services Authority that it will request shareholders to approve a 4 for 1 stock split at the forthcoming June 16th 2017 Annual General Meeting of Shareholders. The company is also finalizing its proposal to the OJK for the rights issue approved by...
JAKARTA (TheInsiderStories) - PT Indofood Sukses Makmur Tbk (IDX:INDF) is issuing bonds worth Rp2 trillion, the proceeds of which will be used to repay the principal of previous issued bonds, Indofood VI Bonds (Obgliasi Indofood VI), the company announced on Friday (May 5). The offering date is set on May 5-15,...
JAKARTA (TheInsiderStories) - The State Owned Enterprise Ministry (SOE) has appointed I Gusti Ngurah Askhara Danadiputra as new President Director of state port operator PT Pelindo III, replacing Orias Petrus Moedak, who has been recently appointed as Finance Director of PT Bukit Asam Tbk (IDX:PTBA). Danadiputra served as Director of...
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) - 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) - 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) -  Indonesian shares are expected to move sideways today as market players are awaiting for fresh leads to make aggressive moves. Trading is likely to focus on stocks that are expected to perform better this year. Desmond Wira, a market analyst, projected to JCI to move sideways again today,...
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...
JAKARTA (TheInsiderStories) - The Indonesian Energy and Mineral Resources Minister (ESDM) Ignasius Jonan is urging Inpex Corporation, a giant oil and gas company of Japan, to accelerate the pre-FEED (front-end engineering design) for the development of Masela Block. “It has been six months since I joined the ESDM (Energy and...
JAKARTA (TheInsiderStories) - PT Toba Bara Sejahtra Tbk (IDX:TOBA), a coal producer,  said it has set aside capital expenditure (Capex) for 2017 at US$60-65 million, of which 85-90 percent will be allocated for the engineering, procurement and construction (EPC) phase of the power project, with the balance for the...
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...
Singapore -- Moody's has assigned a provisional (P)Baa3 rating to the proposed $2.0 billion global medium term notes (GMTN) programme of Perusahaan Listrik Negara (P.T.) (PLN). At the same time, Moody's has assigned a Baa3 rating to the proposed notes issued under this MTN programme, which will represent the first drawdown under this programme...
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) - Budget airline Citilink, a subsidiary of Indonesian flag-carrier PT Garuda Indonesia Tbk (IDX:GIAA) has revealed its plan to serve new international route, namely from Jakarta to Dili, the capital city of Timor Leste, in the eastern half of the Timor Island. The airline will start serving...
JAKARTA (TheInsiderStories) - Indonesian shares are expected to move sideways today, as players are likely to refrain from making aggressive moves due to lack of strong fresh leads. Desmond Wira, a market analyst projected the JCI to move sideways today, with the market is likely to trade above support level of...
JAKARTA (TheInsiderStories) - Textile and garment producer PT Sri Rejeki Isman Tbk (IDX:SRIL) recorded net profit of US$17.7 million in the first quarter 2017, rose 7.8 percent from the same period last year of US$16.4 million. The increase was in line with the rise of revenues, which reached US$180.2 million,...
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) - Indonesia recorded slight increase of Consumer Price Index (CPI) in April 2017 by 0.09 percent month-to-month (mtm), driven by the decreasing price of staple foods which compensate the increasing price of electricity price, the Central Statistics Agency (BPS) announced. Staple food group became the only one group...
  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) - Indonesian conglomerate Bakrie Group and The Century Properties group is entering a joint venture with  to develop several projects in the Philippines, local news agency reported. Century said that it signed a memorandum of understanding with Bakrie Group at the sidelines of the ASEAN Summit, to build a...
JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade higher today supported by capital inflow. The gains may be limited as some players are likely to await for the release of economic data, including April consumer price index (CPI). The stock market closed on Monday (May 1) for public holiday. Last Friday,...
JAKARTA (TheInsiderStories) - Kenda Rubber Industrial Co., Ltd., one of the two major tire makers in Taiwan, through its unit PT Kenda Rubber Indonesia has set up a plant, located in Serang of Banten Province. The new plant will produce bicycle and motorcycle tubes and tires. Vice President Tseng Duen-sheng explained that this plant...
By Harumi Taguchi, Principal Economist at IHS Markit   Key Points: Ÿ   Japan’s index of industrial production (IIP) fell 2.1% month on month (m/m) in March, following a 3.2% rise in the previous month. Ÿ   Although producers’ shipments showed softer decline than production, contracting 1.1% m/m, inventories rose for the fourth consecutive month,...
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...
JAKARTA (TheInsiderStories) - PT Amman Mineal Industri, previously known as PT Newmont Nusa Tenggara (NTT) is making progress with its plan to develop smelter plant with planned capacity of 2 million tons of copper concentrates per annum. The company plans to spend US$1.6 billion to develop the smelter plant, located in...
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) - Heads of State and Government of ASEAN member States reaffirmed their commitment that the ASEAN Community Vision 2025 and the United Nations 2030 Agenda for Sustainable Development will be implemented in a mutually-reinforcing manner to build a truly inclusive and people-oriented, people-centered ASEAN Community for the benefit of our...
Singapore, April 28, 2017 -- Moody's Investors Service has downgraded to B1 from Ba3 the corporate family rating of Lippo Karawaci Tbk (P.T.) and the senior unsecured rating of the bonds issued by Theta Capital Pte. Ltd. -- guaranteed by and a wholly owned subsidiary of Lippo Karawaci. At the same time, Moody's...
BOGOR (TheInsiderStories) - Four state-owned enterprises (SOEs) will offer asset-backed securities with total amount Rp15 trillion in this year, said the minister last week. Power producer PT Perusahaan Listrik Negara (PLN) plan to raise funds with worth Rp10 trillion from the securities instrument, while PT Jasa Marga Tbk (IDX: JSMR)...

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