Wednesday, May 22, 2019
JAKARTA (TheInsiderStories) - Indonesia is Southeast Asia’s fastest growing market for smartphones, experienced a 17 percent growth from 2017 to 2018, according to market research firm Canalys. “The smartphone market in Indonesia is the best in Southeast Asia,” said Yudistira Nugroho, a senior industry analyst at Tech & Telco Google Indonesia...
JAKARTA (TheInsiderStories) – State-owned cement producer, PT Semen Indonesia Tbk (IDX: SMGR) plans to issue bonds of Rp4.9 trillion from the total value of Rp8 trillion (US$563.38 million). The first phase of the bond was carried out in 2017 with a value of Rp3 trillion ($211.27 million). Based on disclosure...
JAKARTA (TheInsiderStories) — Indonesia to establish palm oil one map, to harmonize land data and to respond public criticism. The map is expected to be completed in August, said government official last week. This action’ also taken as an effort to fight negative campaign on palm oil by European Union...
JAKARTA (TheInsiderStories) – Indonesia targets to become one of the developed countries by 2045 and the economic growth at 7.3 percent at the year, said a minister on Thursday (05/09). The vision makes Indonesia a high-income country with the fifth highest GDP in the world with an average economic...
JAKARTA (TheInsiderStories) – Responding to public screams about soaring airline ticket prices since the beginning of 2019, the government promised to reduce the upper limit tariff by 15 percent, said a senior minister on Thursday (05/09). The reduction in the tariff limit will be consolidated with airline businessmen in...
JAKARTA (TheInsiderStories) - Thousands of opposition supporters rallied in front of Indonesia' Election Supervisory Agency' office on Friday (05/09), demanding the completion of a number of fraud cases during the electoral process with they called full of "systematic, structured and massive fraud." They believed that the April 17 election was...
IHS Markit: US-China Trade War Escalates Again as Truce Collapses
JAKARTA (TheInsiderStories) - United States (US) President Donald Trump’ decision to hike tariffs from 10 percent to 25 percent on US$200 billion of Chinese imported products will hit Chinese exporters hard, significantly impacting on their competitiveness against competing products produced in other countries, according to IHS Markit in its official...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) reported current account deficit (CAD) in the first quarter (1Q) of 2019 was recorded at US$7 billion or 2.6 percent of GDP. Previous quarter the deficit worth of $9.2 billion or 3.6 percent of GDP. The central bank' spokesman Onny Widjanarko said in an official...
Indonesia Govt Takes Strict Action for Lawbreakers
JAKARTA (TheInsiderStories) - The general election took place on April 17, but Indonesia's political situation is still heating up. Allegations of fraud in the electoral process which the opposition considered were very "systematic, structured and massive" were the cause. This situation creates tension and anxiety about national security stability. For this...
JAKARTA (TheInsiderStories) — A telecommunication company PT Indosat Ooredoo Tbk (IDX: ISAT) said does not break any rules on the new CEO’ appointment after TheInsiderStories reported the shareholders decision on May 6 possible break the regulation. During two years period, there has been three Indosat' CEO replacement and raised questions for...
JAKARTA (TheInsiderStories) — There is still uncertainty over the United States (US) and China trade war. Today, US impose 25 percent tariff on US$200 billion Chinese goods. The tariffs would target chemicals, building materials, furniture and some consumer electronics. Trump repeated a threat on Thursday to impose new 25 percent...
JAKARTA (TheInsiderStories) - State-owned mining holding, PT Indonesia Asahan Aluminium (Inalum) bought 788.66 million treasury stocks of PT Bukit Asam Tbk (IDX: PTBA) at Rp3,400 a share with total amount Rp2.67 trillion (US$188.02 million), said the company today (05/09). To date, Inalum owns 65 percent of the coal miner'...
JAKARTA (TheInsiderStories) - Moody's Investors Service has downgraded to B1 from Ba3 the corporate family rating (CFR) of PT ABM Investama Tbk (IDX: ABMM) and the rating on its US$350 million senior unsecured notes due 2022. The outlook has been revised to stable from negative. "The downgrade reflects our expectation that...
Indonesia's Pertamina Finds 3 New Oil and Gas Reserves in 1Q of 2019
JAKARTA (TheInsiderStories) — During January to April 2019, investment realization for upstream oil and gas recorded at US$3.17 billion, or only 21 percent of this year' target, as stated by Special Task Force for Implementing Upstream Oil and Gas Business Activities, Thursday (05/09). The low reserve replacement ratio is caused...
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...
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...
Indonesian Opposition Calls for Election Fraud Settlement
JAKARTA (TheInsiderStories) - Indonesian opposition leader, Prabowo Subianto, called for a fraud settlement of the 2019 presidential election which he said was very "structured, systematic and massive" for the sake of the future existence of Indonesian democracy. "In essence, we are trying to explain to the citizens of the world...
Indonesian Election: Widodo-Amin Campaign's Team Declares Victory
JAKARTA (TheInsiderStories) - National Campaign Team of Joko Widodo - Ma'ruf Amin declared the win the 2019 presidential election based on 80 million votes collected from the internal counting tabulation center. The figure was obtained from the results of the internal recapitulation of the incumbent team by real data collection...
JAKARTA (TheInsiderStories) - China' merchandise exports contracted 2.7 percent in in April in terms of USD, down from a revised 13.8 percent expansion in March, according to the General Administration of Customs. The decline in exports led by the weakening demand from the United States (US), the agency said. Exports to...
JAKARTA (TheInsiderStories) — Indonesia rely on agriculture and livestock to slash the trade deficit with Argentina, said senior minister at the high level meeting in Jakarta, today (05/08). After meeting with Vice-President of Argentina YM Gabriela Michetti and his delegation at his office, Coordinating Minister for Economy Nasution reported, the...
JAKARTA (TheInsiderStories) – An oil and gas producer, PT Medco Energi International Tbk (IDX:MEDC) issued global bonds with total amount US$650 million with coupon rate 7.38 percent. The funds use to finance the acquisition of British' Ophir Energy Plc., worth of $535.2 million and pay the company’ debt due...
Indonesia is Optimistic to Become a Manufacturing Hub in ASEAN
JAKARTA (TheInsiderStories) – As one of the core investment destination, Indonesia is optimistic to become a manufacturing hub in Southeast Asian countries (ASEAN) region, Even so, become a production base for global producers to meet domestic market needs to export, said the minister on Wednesday (05/08). Industry Minister Airlangga Hartarto...
JAKARTA (TheInsiderStories) - Bank Indonesia noted, foreign exchange (forex) reserves stood at US$124.3 billion on April, slightly lessen 0.16 percent compared to March 2019 at $124.5 billion. The position of forex reserves is equivalent to financing seven months of imports or seven months of imports and payment of government foreign...
JAKARTA (TheInsiderStories) - The acceleration in global growth that occurred in 2017 led some key central banks to begin a steady—albeit slow—tightening of monetary policy, said IHS Markit in the latest report. It said, the Federal Reserve, the Bank of Canada, and the Bank of England were in the vanguard....
IMF's Lagarde Emphasizes the Importance of Financing Sustainable International Development
JAKARTA (TheInsiderStories) - International Monetary Fund (IMF) Managing Director Christine Lagarde stressed how to ensured the effectiveness and sustainable financing of international development. She said the focus of the world today is on sustainable debt for sustainable growth. "We are all committed to seeing low-income countries make decisive and lasting...
JAKARTA (TheInsiderStories) — State-owned flight carrier, PT Garuda Indonesia Tbk (IDX: GIAA) admitted adding unsolved payment over its financial report critics. The management said that there’s no payment received yet from cooperation agreement with PT Mahata Aero Teknologi. In its financial report, Garuda claimed having US$241.94 million payment from Mahata...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo on Tuesday (05/7) visited Kalimantan Island to follow up on the plan to move the country' capital city. Yesterday, President Joko Widodo checked the feasibility and readiness of the provinces of East Kalimantan and Central Kalimantan, two potential regions to become the...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) — A telecommunication provider, PT Indosat Ooredoo Tbk (IDX: ISAT) new CEO’ appointment has triggered question. The appointment of Ahmad Abdulaziz Al Neama as the company's new leader came without shareholders general meeting. Moreover, there has been three replacement in the last one year period. Indosat has let...
JAKARTA (TheInsiderStories) – Indonesian Ministry of Energy and Mineral Resources (MEMR) announces Kufpec Ventures (Indonesia) Ltd. and Sonoro Energy Ltd-PT Menara Global Energi consortium as the winner of five 2019 Phase I Oil and Gas Working Area Offers total commitment value and signature bonus of US$ 116.7 million, said the government...
JAKARTA (TheInsiderStories) – Responding to the request of the Indonesian National Development Planning Board, Korean Eximbank intends to provide untied soft loans under the name of the Economic Development Partnership Facility (EDPF) to the country, said the minister at a bilateral meeting with President/Chairman of the Korean Eximbank Sung-soo...