Thursday, June 20, 2019
JAKARTA (TheInsiderStories) - British Prime Minister Theresa May has attempted to explain what on earth's happening with Brexit in a video message to the country. May acknowledged she could not see Parliament accepting her Withdrawal Agreement after rejecting it three times. As a result, she said, the Government were...
JAKARTA (TheInsiderStories) – Indonesia’s largest coal producer PT Bumi Resources Tbk (IDX:BUMI) has set Dec. 11, 2017 as the effective date for the exchange for the old debts worth $2.6 billion with the new securities and new loans. The company’s Director & Corporate Secretary Dileep Srivastava said in a statement...
JAKARTA (TheInsiderStories) - Japan’s Index of Industrial Production (IIP) fell for the second straight month in December 2018, sliding 0.1 percent from November. However, the index increased by 1.9 percent in the fourth quarter of 2018 compared to the previous quarter. While, manufacturers’ shipments rose 0.3 percent month on month (m/m) while...
Trump Declared National Emergency, Us Retail Sales Dropped
JAKARTA (TheInsiderStories) - President Donald Trump is prepared to sign a bipartisan bill on spending and border security to avert another government shutdown, but also declare a national emergency to obtain funds for his long-promised border wall, the White House said on Thursday (02/14). "President Trump will sign the government...
JAKARTA (TheInsiderStories) - Local property developer PT Sentul City Tbk (IDX: BKSL) joined with Japan's Sumitomo Corporation and property developer Hankyu Realty Co. to build a condominium complex on the outskirts of Jakarta. The company said it is planning to complete three condo towers by May 2019 with a total of...
JAKARTA (TheInsiderStories) - Following the Group of 20 (G20) meetings, the temporarily de-escalates hostilities between the United States (US) and China, said Atsi Sheth, Managing Director, Credit Strategy & Standards at Moody's Investors Service today (12/03). However, he rated, US - China relations to remain contentious. The narrow agreements and modest concessions...
JAKARTA (TheInsiderStories) - Indonesia's Financial Services Authority (FSA) will impose additional capital for systemically important banks (SIBs) based on their size, interconnectedness with the financial system, and the complexity of their business to protect against any failures. FSA told the country's systemically important banks to create a tier-1 capital surcharge of...
JAKARTA (TheInsiderSrories) - Indonesian investment company, PT Medco Energi Internasional Tbk (IDX: MEDC) targeting the acquisition of Ophir Energy to be completed in the second quarter (2Q) of 2019. The acquisition is considered to be a good step because the company will obtain a portfolio of assets that complement each other,...
IHS Markit: Global Economic Rebound Seems Impossible
JAKARTA (TheInsiderStories) - Manufacturing activity in Indonesia in December improved for the first time in four months, indicating a modest improvement in the health of the sector. Based on IHS Markit survey showed on Wednesday (01/02), the Nikkei Indonesia Manufacturing Purchasing Managers' Index (PMI), rose to 51.2 from November's 50.4. A reading above 50 indicates an expansion...
Toyota, Honda and BMW Warned to Exit from UK
JAKARTA (TheInsiderStories) – Amid the protracted and energy-consuming “British Exit” (Brexit) negotiations, international car producer Toyota Motor Corp warned might to end manufacturing in the United Kingdom (UK) if the country left the European Union (EU) without the mutual agreement. "If the business environment becomes very difficult to operate, of...
JAKARTA (TheInsiderStories) - State-owned cement producer, PT Semen Indonesia Tbk (IDX: SMGR) released local bonds with total amount Rp4.08 trillion (US$ 326.39 million). The funds will be use to pay the long-term debt of its new unit PT Holcim Indonesia Tbk (IDX: SMCB) from Holdervin B.V. Based on the disclosure of...
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...
Hong Kong -- Moody's Investors Service has affirmed the  Caa3 corporate family rating (CFR) of MNC Investama Tbk. (P.T.) (BHIT) and the Ca rating on the senior secured rating notes issued by its wholly-owned subsidiary, Ottawa Holdings Pte. Ltd. ("Ottawa"), and unconditionally and irrevocably guaranteed by BHIT. The outlook on...
JAKARTA (TheInsiderStories)--The Deposit Insurance Corporation raised the guarantee interest rate to respond the Bank Indonesia's move that adjusted 7 days repo rate by 50 basis points to 4.75 per cent. The guarantee interest rate for rupiah in commercial banks and rural banks rose by 25 bps to 6 per cent...
JAKARTA (TheInsiderStories) - Good morning, here we provide several pieces of important news that might help your business decisions today: Indonesia Central Bank Holds Fast on Rate Bank Indonesia has hung onto its benchmark 7-day reverse repo rate, which stays unchanged at 4.25 percent as of Thursday (19/10), stating Southeast Asia's biggest...
Moody's Revises Bumi Resources' Ratings Outlook to Negative
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the B3 corporate family rating (CFR) for PT Bumi Resources Tbk (IDX: BUMI). At the same time, Moody's has affirmed the B3 rating on the Series A and Caa1 rating on the Series B senior secured notes due 2022 issued by BUMI' wholly owned subsidiary,...
JAKARTA (TheInsiderStories) -- Moody's Investors Service says that credit conditions for Indonesian non-financial corporates will remain stable over the next 12 months. "For 2019, we expect modest earnings growth of around 4 percent for our rated Indonesian corporates, despite headwinds from rising interest rates, the depreciation of the local currency...
Indonesia's Forex Reserves US$123B in February
JAKARTA (TheInsiderStories) –  The Indonesian foreign exchange (forex) reserves reached of US$123.3 billion at the end of February 2019, slightly up from January at $120.1 billion, said Bank Indonesia (BI) today (03/08). This position is equivalent to financing 6.9 months of imports or 6.7 months of imports and payment of...
JAKARTA (TheInsiderStories) – Indonesian general insurer PT Asuransi Tugu Pratama Indonesia, which is majority-controlled by state-owned energy company PT Pertamina, will offer 282.35 million new shares to the public through an initial public offering on the Indonesia Stock Exchange. The number of shares offered to the public is equivalent to...
JAKARTA (TheInsiderStories) - Hungary' mobile transactions solutions provider Cellumʼ secure wallet platform to be unified with LinkAja e-money system, developed by PT Telekomunikasi Selular (Telkomsel), the company chief executive told the Budapest Business Journal. János Kóka, CEO of Cellum Global at the Mobile World Congress in Barcelona said, said that unit of...
JAKARTA (TheInsiderStories) - Chairman of Unite State's (U.S) Federal Reserves Janet Yellen hinted would only gradually tighten monetary policy at the Semiannual Monetary Policy Report to the Congress on Wednesday (12/7). In the other side, China's export rose 11.3 percent to US$196.6 billion from a year earlier while imports rose 17.2 percent,...
JAKARTA (TheInsiderStories) - Lion Air JT-610 crashed after loss contacted in the Karawang cape areas, in West Java, on Monday morning (29/10), said the National SAR Agency (BASARNAS). 179 passengers was on the plane and eight cabin crews including pilot. The aircraft was new, delivered to Lion Air in August, 2018....
Oil Price Hits High Level Amid China Growth, US Stockpiles
JAKARTA (TheInsiderStories) - United States' Energy Information Administration (EIA) revised down Organization of the Petroleum Exporting Countries (OPEC) crude oil production around 30.3 million barrels per day (bpd) in 2019, down by 1.7 million bpd from 2018. In 2020, EIA sees OPEC' crude oil production to fall by 400,000 bpd...
JAKARTA (TheInsiderStories) – Good morning; here we provide several pieces of important news that might help your business decisions today: JCI To Move Between 5,861-5,988 Jakarta Composite Index currently keeps moving to higher levels of consolidation, while the Indonesian market continues to enjoy a capital inflow. Every day a new record...
JAKARTA (TheInsiderStories) - Golkar party politician Agus Gumiwang Kartasasmita has been appointed as a new Minister for Social Affairs by President Joko Widodo, replacing Idrus Marham  who resigned from the position due to the alleged graft case. Gumiwang was inaugurated in State Palace Jakarta on Friday (24/08) at 15.30 local time. A moment...
JAKARTA (TheInsiderStories) – The Indonesian Government aims to collect Rp42.8 trillion (US$3.2 billion) in dividends from 118 state-owned enterprises (SOEs) in 2018. Government also expects SOEs to book Rp158.8 trillion (US$11.9 billion) net profit this year. Imam Apriyanto Putro, the SOE Minister’s Secretary, explained that this figure is 6.6 percent higher than...
JAKARTA (TheInsiderStories) - Indonesia' finance ministry concluded the alleged financial statement audit of PT Garuda Indonesia Tbk (IDX: GIAA) 2018 has not followed the applicable accounting standards. The ministry will impose sanctions on the public accounting firm that audits the state-owned flight carrier’ financial report. Finance Ministry Secretary-General Hadiyanto said on...
JAKARTA (TheInsiderStories)--The International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend a debt financing package of up to $50 million to support the development of a 275-megawatt (MW) combined cycle gas turbine power plant in Riau Province, Sumatera, Indonesia. PT Medco Ratch Power Riau,...
JAKARTA (TheInsiderStories) - PT AKR Corporindo Tbk (IDX:AKRA), a leading fuel and chemical supply chain company, announced its plan on Monday (May 8) to issue Rp1 trillion worth of bonds. The bonds issue is part of the planned Rp2 trillion sustainable bonds to be issued by the company. The company...
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...

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