Wednesday, June 19, 2019
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) - The Islamic Development Bank (IDB) announced to providing loan facilities US$12.2 billion including to Indonesia and other countries, the president Bandar Hajjar disclosed on Monday at the sideline 42th IDB Annual Meeting in Jeddah, Saudi Gazette reported. Based on IDB data, Turkey tops the list of countries receiving loans $1.7...
JAKARTA (TheInsiderStories) - The Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) and the Downstream Regulatory Agency for Oil and Gas (BPH Migas) will be merged into a special oil and gas agency, which will oversee and regulate upstream and downstream businesses, according to the draft revision of the oil and...
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...
JAKARTA (TheInsiderStories) - The United Arab Emirates (UAE) is interested to invest up to US$5 billion in energy, infrastructure and agriculture sectors in Indonesia, showing growing interest of this Arab peninsula country in Indonesia. "We are very glad that the agreement is signed today. We can assure you, from our side...
JAKARTA (TheInsiderStories) - State owned brokerage firm Mandiri Sekuritas, owned by Bank Mandiri, has set up a fully owned Singapore subsidiary called Mandiri Securities Pte Ltd (Mandiri Securities Singapore). The establishment of the subsidiary is part of the brokerage firms drive to expand its global outreach. Mandiri Sekuritas obtained Capital Markets Services permit from...
JAKARTA (TheInsiderStories) - The Federal Open Market Committee indicates that the labor market has continued to strengthen and that economic activity has continued to expand at a moderate pace. Job gains remained solid and the unemployment rate stayed near its recent low, the minutes of meeting showed. Household spending has continued...
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) - Bank Indonesia's (BI) Consumer Confidence Index (CCI) stood at 125.9 in May--the highest level since June 2000--due to confidence over current economic conditions and an upward trend in expectations, the central bank said on Wednesday. Last April, the consumer index was 123.7. According to its components, the rise in CCI was...
JAKARTA (TheInsiderStories) - PT Kereta Cepat Indonesia China (KCIC), a consortium of Indonesian and Chinese companies building Indonesia's first high-speed railway has signed a US$4.5 billion loan with China Development Bank (CDB). The loan will cover 75 percent of the total costs, which are expected to reach $6 billion. The deal signed...
JAKARTA (TheInsiderStories) – PT Barito Pacific Tbk (IDX:BRPT), a diversified energy and petrochemical group, is planning to launch 1-for-2 rights issue, in which the holder of one unit of old shares will have the right to purchase 2 new shares. The plan is pending on the approval of the...
JAKARTA (TheInsiderStories) - China's Sinopec Group and Kuwait Petroleum Corporation interested to acquire part of participating interests in Grass Root Refinery (GRR) Bontang in East Kalimantan owned by state-owned energy company, PT Pertamina. President Director Elia Masa Manik told press on Wednesday, Pertamina will release up to 10 percent shares to...
JAKARTA (TheInsiderStories) – Shipping line PT Samudera Indonesia Tbk (IDX:SMDR) is planning to issue bonds worth US$70 million. The bonds will be issued twice, with first phase to be issued in June worth US$35 million, company director Ridwan Hamid was quoted by Bisnis Indonesia as saying Wednesday. This year,...
JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade mixed today, with gains in selected stocks are likely to be offset by moves of some players to cash out ahead of the weekend as well as concerns on suicide bombs that hit a bus terminal on Wednesday night, analysts say. On...
  JAKARTA (TheInsiderStories) -The Asia and Pacific region continues to deliver strong growth, in the face of widespread concerns about growing protectionism, a rapidly aging society, and slow productivity growth, according to the International Monetary Fund (IMF) latest regional report. The IMF estimates growth for the Asia and the Pacific region...
JAKARTA (TheInsiderStories) - PT Pertamina and EMP Bentu Limited, a subsidiary of PT Energi Mega Persada Tbk (IDX: ENRG) signed a gas sales and purchase agreement with a volume of 0.2Million Cubic Gas Gas Per Day (MMSCFD) for gas network allocation in Pekanbaru City, Riau Province. Corporate Communications Vice President...
JAKARTA (TheInsiderStories) - In the first quarter (Q1) of 2017, Indonesia's agro industry growth 6.33 percent, one of the largest contribution from the food and beverage industry which rose 8.15 percent compared to the same period in 2016. The investment value of domestic investment recorded Rp14.69 trillion and foreign investment $600...
JAKARTA (TheInsierStories) - Global ride sharing company Grab said it has opened R&D center in Kebayoran Baru, Jakarta. The center complements the company's R&D centers in other cities around the world including in Bangalore, Beijing, Ho Chi Minh City, Seatle and Singapore. With the R&D center, engineers from Indonesia will have the opportunity to...
JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today, extending Friday’s market rebound. The market’s movement is likely to remain volatile on the back of fluctuation of global commodity prices, analysts say. Last Friday, the Jakarta Composite Index (JCI) closed higher, recovering losses in previous days trading. The...
JAKARTA (TheInsiderStories) - Indonesia’s official foreign exchange reserves have increased to US$123.2 billion in April 2017, from previous month of US$121.8 billion, partly driven by improved external trade, the central bank, Bank Indonesia data shows. Executive Director of Communication Department of Bank Indonesia (BI) Tirta Segara said the increase of foreign exchange...
JAKARTA (TheInsiderStories) - PT Indosat Ooredoo Tbk (IDX:ISAT) teams up with PT Palapa Satelit Nusantara (PSN to launch Palapa Nusantara 1 (Palapa N-1) in 2020, with estimated investment of US$200 million. Both parties have agreed to set up JV called PT Palapa Satelit Nusa Sejahtera (PSNS), in which Indosat...
JAKARTA (TheInsiderStories) – Two explosions hit Kampung Melayu bus terminal at around 21.00 on Wednesday, killing one police officer and injuring at least four other police officers. Deputy Police Chief Commissioner General Police Syafruddin told Metro TV that the suicide bomber was likely to be also killed during the explosion. The bomb...
JAKARTA (TheInsiderStories) - Bank Indonesia has welcome the decision by Standard & Poor's late last week to improve Indonesia's rating to investment grade. The rating grade decision reflects recognition of the international community over Indonesia's achievement in maintaining economic stability. "This recognition has confirmed further the acknowledgement of the international community...
JAKARTA (TheInsiderStories) - PT Medco Energi Internasional Tbk (“IDX: MEDC)) announced today that an UNCITRAL Arbitration Tribunal has awarded its Singapore based wholly-owned subsidiary Medco Strait Services Pte Ltd approximately US$24 million pursuant to its claims against Singapore Petroleum Ltd. and Cue Energy Pty Ltd.  Roberto Lorato, CEO of MedcoEnergi commented with the arbitration tribunal award...
JAKARTA (TheInsiderStories) - PT Bank Maybank Indonesia Tbk (IDX: BNII), has aborted the sale of a 68.55 percent equity interest in consumer financing firm PT Wahana Ottomitra Multiartha Tbk (IDX: WOMF). The share sale aborted after certain conditions precedent to the share purchase agreement, which were scheduled to be satisfied...
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...
JAKARTA (TheInsiderStories) - PT Hartadinata Abadi Tbk has revealed its plan to raise Rp240 billion from initial public offering (IPO) on the Indonesian Stock Exchange (IDX). The firm plans to set its IPO price of Rp280-356 per share. The company claimed that it is one of the 9 large...
BADUNG (TheInsiderStories) - The Indonesian government's plan to establish a national infrastructure bank to finance infrastructure programs is still constrained by the limited funds of the government. The plan could be cancelled altogether should the government failed to allocate enough funding from the State Budget. The plan to establish the...
JAKARTA (TheInsiderStories) - National oil company, PT Pertamina targeting this year's net profit to exceed US$3 billion by making $1 billion of efficiency and business expansion, said the company on Wednesday. Last year, the company's net profit reached $3.15 billion. In the first quarter (Q1) of 2017, net profit of the state-owned...

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