Wednesday, June 19, 2019
JAKARTA (TheInsiderStories) - Indonesia Petroleum Association (IPA) is optimistic that the government can increase the interest and enthusiasm of global oil and gas investors to carry out exploration and exploitation in the country. IPA' President Tumbur Parlindungan acknowledged that national oil and gas reserves proved to be still relatively large...
JAKARTA (TheInsiderStories) - Indonesia targeting to become a manufacturing hub in Southeast Asian (ASEAN) region with several industrial sectors that have deep structures, ranging from upstream to downstream in automotive, textile and garment, food and beverages, metals, and chemicals sectors, said Industry Minister Airlangga Hartarto. He adds, in the coming years,...
JAKARTA (TheInsiderStories) - Moody's Investors Service has assigned a Ba3 corporate family rating (CFR) to Lippo Malls Indonesia Retail Trust (LMIRT). Moody's also assigned a Ba3 backed senior unsecured rating to the bond issued by LMIRT Capital Pte. Ltd., a wholly-owned subsidiary of LMIRT. The bond is guaranteed by the...
JAKARTA (TheInsiderStories) - PT Indofood Sukses Makmur Tbk (IDX: INDF), business arm of the Salim Group, revised the price of a conditional cash offer for all shares of Indofood Agri Resources Ltd (IndoAgri), said the company last week. Based on a disclosure information at the Singapore Stock Exchange on May...
JAKARTA (TheInsiderStories) - Indonesian President Joko Widodo had planned to apply the open sky policy by allowing foreign airlines to operate in Indonesia. The President asserted this decision has been taken to allowed a better competition of ticket prices. He said, the government had tried to reduce plane ticket price by lowering...
Consumer Confidence Index Decline in March 2019
JAKARTA (TheInsiderStories) - The long trade dispute between the United States (US) and China has impacted foreign investors to pull out their capital from Indonesia. In May, only Rp18.12 trillion (US$1.25 billion) has exited Indonesia, with its peak in the middle of this month. At the end of May, Bank Indonesia...
JAKARTA (TheInsiderStories) - Rating agency Standard & Poor’s Global Ratings (S&P) said on Friday (05/31) it had raised Indonesia’s sovereign credit rating to ‘BBB’, citing the country’s strong economic growth prospects and supportive policy dynamics. The outlook is stable. S&P had previously rated Indonesia at ‘BBB-’, the lowest investable grade...
JAKARTA (TheInsiderStories) - Indonesia’s energy state-owned enterprise, PT Pertamina finally released its 2018 financial report. Pertamina booked US$2.53 billion (Rp 36.43 trillion) during last year, lower than $2.54 billion in 2017. The falling was caused by the cost rocketing. The falling last year’s profit has calculated the government’s receivables for...
JAKARTA (TheInsiderStories) - Management of PT Garuda Indonesia Tbk (IDX: GIAA) assessed the Australian federal court's decision to order state-owned flight carrier to pay penalties of US$13.2 million (Rp189 billion) for colluding on fees and surcharges for air freight services as unfair and has a legal loophole to appeal. The...
JAKARTA (TheInsiderStories) - Singapore-headquartered venture capital (VC) firm EV Growth has hit the close of its inaugural fund at US$200 million (Rp2.9 trillion), exceeding the firm’s initial US$150 million targets. This oversubscribed fund is supported by a diverse set of partners including SoftBank Group Corp, Pavilion CapitaI, Indies Capital and...
JAKARTA (TheInsiderStories) - The Bakrie Group media, PT Visi Media Asia Tbk (VIVA) will divest its shares by 25 percent maximum in the third quarter of 2019, said the president director on Wednesday (05/29). Anindya Novan Bakrie said, the company’ corporate action will be executed in two schemes, with private placement as one...
JAKARTA (TheInsiderStories) - PT Indofood Sukses Makmur Tbk (IDX: INDF), an Indonesian multi-national company, allocated Rp7 trillion (US$486.11 million) capital expenditure during 2019, said the company on Wednesday (05/29). The amount lower by 23 percent compared to last year Rp9.1 trillion. The funds will divided to its subsidiaries, Rp3.9 trillion for PT...
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) - 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) – Singapore-based block chain firm PLMP Fintech Ltd., and PT Central Distribusi Batam will participate in a multi-million logistics project in partnership with Indonesian government. The memorandum of understanding of the Collaborative Joint Blockchain Logistics Pilot Project in Indonesia has been signed yesterday (05/29) by the third...
Indonesia Targets 18 Industrial Zones worth US$17.73 B to Operate in 2019
JAKARTA (TheInsiderStories) - Indonesian government will bring forth a policy to address the trade and current account balance, said the official on Tuesday (05/28). This was done by revising the incentives policy in Special Economic Zones (SEZ). Currently, the revision of two Government Regulations, namely Regulation Number 96 the Year...
JAKARTA (TheInsiderStories) – Indonesian Corruption Eradication Commission (CEC) officially declared tycoon Sjamsul Nursalim as a suspect in the alleged case of Bank Indonesia Liquidity Assistance Certificate also popular as a BLBI case, an official said in a written statement on Tuesday (05/28). The determination was made after the agency deepened the...
JAKARTA (TheInsiderStories) — Indonesia’s infrastructure state-owned enterprise, PT Adhi Karya Tbk (ADHI) will release Rp1.02 trillion (US$71.36 million) bond, as the company has several big infrastructure projects ongoing. The bond issuance is expected to support the company’s growth. This bond offering date is scheduled on June 19-20, the company said....
JAKARTA (TheInsiderStories) - Indonesian government is targeting the completion of the general review of Indonesia-Japan Economic Partnership Agreement (IJEPA) announced at the end of June 2019, said Trade Minister Enggartiasto Lukita. "We are targeting IJEPA to be announced at the end of June," he told media after holding a bilateral...
JAKARTA (TheInsiderStories) - State Own Enterprises (SOEs) ministry appointed Djoko Raharjo Abumanan as an acting chief executive (CEO) of PT Perusahaan Listrik Negara (PLN) and Director of Strategic Procurement, said the official today (05/29). Abunaman temporarily leads PLN followed former CEO Sofyan Basir bribery case in Riau-1 power plant project. Yesterday, the...
JAKARTA (TheInsiderStories) – International Institute for Management Development (IMD) places Singapore as the most competitive economy in the world for the first time since 2010, surpassed United States, who slipped from the top position. Then, economic uncertainty affected conditions in Europe, and the effect of rising fuel prices affected ratings...
JAKARTA (TheInsiderStories) - Apple supplier Pegatron Corp., planned to invest up to Rp15 trillion (US$1.04 billion) to build a factory in Batam Island, an Indonesian ministry official said on Tuesday (05/28). The new factory to produce chips for Apple smart-phones in the country. The Taiwan manufacturer made the pledge in a...
JAKARTA (TheInsiderStories) - Indonesia's tobacco processing companies, PT Indonesian Tobacco plans to conduct an initial public offering (IPO) on July 4, 2019. The company will offer 274,060,000 shares or around 29.13 percent of the deposited capital. The company offers stock prices on the Indonesia Stock Exchange (IDX) with a price...
JAKARTA (TheInsiderStories) – The realization of the National Strategic Project (NSP) experiencing significant obstacles, starting from the stage of preparation, transaction or auction to construction or implementation, said the official government yesterday. Until the end of the Joko Widodo' first term, there were at least 115 projects and one program...
JAKARTA (TheInsiderStories) – The government sets a reference price and export duty for Crude Palm Oil (CPO) products in June period of US$547.17/metric ton (MT). The reference price dropped 4.56 percent from May period, which was recorded at $573.31/MT. Meanwhile, cocoa bean reference price in June 2019 was $2,327.27/MT, down...
JAKARTA (TheInsiderStories) - Indonesian National Police have named former Army general Kivlan Zen as a suspect in a treason case related to the “people power”, said the spokesman today. While 458 peoples has been arrested after Jakarta' riots in may 21 - 22. “Yes, his already been named a suspect,” National...
PLN Human Capital Director to Fill the Empty President Director Chair
JAKARTA (TheInsiderStories) — Good morning! Anti-graft commission arrested non-active CEO of state-owned power producer PT Perusahaan Listrik Negara (PLN) Sofyan Basir, on Monday (05/27), related to Riau-1 steam power plant case. He will be arrested for 20 days in the corruptors penitentiary behind the commission’ Merah Putih building. Basir came...
JAKARTA (TheInsiderStories) - Indonesian government and Japan Inpex Corp., agreed on Masela block' plan of development (PoD) with an investment value of US$20 billion, said Energy and Mineral Resources (EMR) ministry. Both parties managed to achieve a win-win solution with a 50-50 percent profit sharing scheme. Minister of EMR Ignasius Jonan said...
JAKARTA (TheInsiderStories) - CBRE Asia Pacific Research in its latest report said the victory of incumbent Joko Widodo in the April 17 presidential election would stimulate a gradual resumption of Indonesia's property market activity. Although the results announced by the General Election Commission on May 21 were sued by opposition leader...
JAKARTA (TheInsiderStories) — United States (US) President Donald Trump pressed Japanese Prime Minister Shinzo Abe to even out the trade imbalance between two countries. They are now negotiating a trade agreement, as Trump said that he wants US exports to be fair and very profound footing. Trump is on a...

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