Thursday, June 20, 2019
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...
Indonesia's BoP will Surplus in 1Q 2019, says BI
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) launched a standard for QR Code or Indonesian QR Code Standard (QRIS) that make payment system possible interconnected and interoperable. Governor of BI Perry Warjiyo said, at the initial stage, BI introduced QRIS for Merchant Presented Mode (MPM) and would be implemented in the...
JAKARTA (TheInsiderStories) – World Bank (WB) estimated that to meet the energy access target in 2030, the world requires an investment of US$1.35 trillion, mainly to fulfill and electricity access to 8 percent or 650 million people from the global population. 90 percent of them will be in sub-Saharan Africa. It said, now...
JAKARTA (TheInsiderStories) – Indonesian sanitary producer, PT Softex Indonesia, supported by the global investment company CVC Capital Partners, plans to conduct an Initial Public Offering (IPO) and hopes to raise a fund of US$500 million, citing people familiar with the matter. The company is reported to have contacted possible advisors...
JAKARTA (TheInsiderStories) — An Indonesian startup that empowers vegetable sales, Kedai Sayur, announced today (05/27), that it had secured US$1.3 million of seed funding led by the global investment company, East Ventures. The investment will accelerate the company' mission to onboard more vegetable hawkers as its partner. East Ventures’ Co-Founder...
JAKARTA (TheInsiderStories) - State-owned cement producer, PT Semen Indonesia Tbk (IDX: SMGR) released local bonds with total amount Rp4.08 trillion (US$ 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...
JAKARTA (TheInsiderStories) - Prabowo Subianto - Sandiaga Salahuddin Uno camp filed a lawsuit to the Constitutional Court on Friday (05/24), in an effort to overturn Joko Widodo - Maruf Amin victory in the 2019 Presidential Election. The opposition' lawyers team provided a list of 51 election fraud proofs to...
JAKARTA (TheInsiderStories) - Indonesian Constitutional Court stated its readiness to hear a lawsuit dispute over the results of the 2019 presidential election and will complete the trial within 14 days, said Constitutional Court chief Anwar Usman in Jakarta last week. In addition, he ensured that all judges would work independently...
JAKARTA (TheInsiderStories) – United Kingdom (UK) Prime Minister Theresa May said she would resign as a Conservative leader on June 7, she said on Friday (05/24) evening. In an emotional statement, May said she had done his best to provide the best policy line for her supporters in the Brexit...
JAKARTA (TheInsiderStories) - Indonesian opposition insists has enough evidence to challenge the General Election Commission (GEC) presidential election resulted on May 21. Previously, the commission has announced Joko Widodo - Ma'ruf Amin has won 2019 presidential election. Evidence of structured, systematic and massive election fraud was collected and will be...
JAKARTA (TheInsiderStories) – Indonesian food and beverage producer, PT Indofood Sukses Makmur Tbk (IDX: INDF) extended the purchase period of Indofood Agri Resources Ltd (IFAR) offering shares worth of US$289.23 million until June 25, 2019 from initially end on May 24, said the company today (05/24). Corporate Secretary Victor Suhendra...
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the Ba3 corporate family rating of PT Bumi Serpong Damai Tbk (IDX: BSD)E. At the same time, Moody's has affirmed the Ba3 backed senior unsecured rating of the 2021 and 2023 notes issued by Global Prime Capital Pte. Ltd., a wholly owned subsidiary of...
JAKARTA (TheInsiderStories) – United States-China trade tensions that have lasted more than a year have hit negatively on consumers and many producers in both countries. Rates have reduced trade between the US and China, but the bilateral trade deficit has remained unchanged broadly, according to the International Monetary Fund...
JAKARTA (TheInsiderStories) – Indonesian insurance company, PT AJB Bumiputera 1912 has realigned the management structure by terminating President Director Sutikno Sjarif, after the Financial Services Authority (FSA) recommended the former Director of Zurich Topaz Life in October last year. The Member Representative Board made this change as early as May 2019. TheInsiderStories is trying...
JAKARTA (TheInsiderStories) — Former President Director of Indonesia’s energy state-owned enterprise PT Pertamina, Karen Agustiawan is being charged with 15 years prison by prosecutor, for an Australian block corruption. Agustiawan has benefited Australia's Roc Oil Company Ltd. and cost Indonesia at Rp568 billion (US$39.44 million). “Demand that the panel of...
JAKARTA (TheInsiderStories) - PT Trada Alam Mineral Tbk (IDX: TRAM), a mining company, will raise funds through rights issues and global bonds to meet the company' expansion plans in the field of infrastructure and mining logistics with the Adaro Group. First, TRAM will conduct a rights issue of 100 billion new...
JAKARTA (TheInsiderStories) - PT Bank Danamon Indonesia Tbk (IDX: BDMN) which owned by The Bank of Tokyo Mitsubishi UFJ (MUFG) released bonds of US$138.9 million (Rp2 trillion) with coupons of 7.55-8.55 percent, said an official statement on Thursday (05/23). The bonds are issued in two series: series A valued at Rp1.14...
JAKARTA (TheInsiderStories) - The resounding election victory of Prime Minister Narendra Modi’s BJP Party with another large parliamentary majority will provide continuity of macroeconomic policy over the next five years, Rajiv Biswas, Asia Pacific Chief Economist at IHS Markit commenting on the election. "The large parliamentary majority secured by the BJP...
JAKARTA (TheInsiderStories) – Indonesian political tensions were re-presented after two days’ mass rally around the Jakarta city. Today, the Prabowo Subianto - Sandiaga Salahuddin Uno camp took their lawyers to the Constitutional Court, suing the election resulted which allegedly carried out in a structured, systematic and massive manner by the...
JAKARTA (TheInsiderStories) - Indonesian opposition presidential candidate Prabowo Subianto – Sandiaga Salahuddin Uno’ camp will file presidential election suit to the Constitutional Court tomorrow, on Friday (05/23), the deadline for filing a claim. "We will submit the lawsuit tomorrow after Friday Prayer. Mr. Hashim Dodjohadikusumo (Subianto's younger brother and the...
JAKARTA (TheInsiderStories) – The Indonesian Police found an infiltration of a terrorist groups in a mass rally on 21-22 May 2019 in front of the Election Supervisory Agency Headquarter and surroundings. With the capture of two members of local radical network called “Gerakan Reformis Islam” (GARIS), the Police suspect...
JAKARTA (TheInsiderStories) - Indonesia's Financial Service Authority (FSA) noted foreign capital out from the country reached US$953.47 million (Rp13.73 trillion) since the beginning of 2019 until May 17, 2019, due to the uncertainty in global financial markets. In detail, foreign investors booked a net sell of Rp7.83 trillion on May...
Lawyers Suggests Sue Boeing in US Court
JAKARTA (TheInsiderStories) - Indonesia signaled to ground Boeing 737 Max until next year, underscoring two fatal crashes faced by Lion Air in the Java Sea when plunged the first time in Oct 2018 and second Max crashed in Ethiopia less than five months later. Even after the US Federal Aviation...
JAKARTA (TheInsiderStories) - PT Saratoga Investama Sedaya Tbk (IDX: SRTG), an investment holding firm, allocated fund US$100 million to invest in five new companies in the consumption and hospital sectors, said the director today (05/23). Director of Investment at Saratoga Devin Irawan said the company wants to invest in hospitals...
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) aimed to expand the Domestic Non Deliverable Forward (DNDF) policy to boost foreign exchange (forex) supply and demand in the market. It stated in the new regulation on DNDF transaction. BI said, with this new policy, the central bank want to make customers and...
JAKARTA (TheInsiderStories) – The United States Central Bank Federal Reserve (The Fed) still maintains the target range for the benchmark interest rate in the range of 2.25-2.25 percent, even though the economy has increased and the labor market remains strong and inflationary pressures are muted, according to minutes of...
JAKARTA (TheInsiderStories) - The government has taken a new strategic step to improve the oil and gas trade balance, which continues to be a deficit so far. Taking PT Pertamina' investment abroad as primary income in the balance of payments is the only policy improvement that has the potential...

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