Thursday, June 27, 2019
JAKARTA (TheInsiderStories) - President Joko Widodo on Thursday (01/03) installed Inspector General Police Heru Winarko as the new Head of the National Anti-Narcotics Agency, replacing Budi Waseso, who will enter retiring age. The President said Winarko was appointed given his experience and integrity as he has shown while working at...
JAKARTA (TheInsiderStories) - The Indonesian currency rupiah declined on the first trading day of the March after finishing the month of February with losses. The rupiah also tracked the declines of regional currencies in the previous session. Based on the Bloomberg Dollar Index, the Indonesian rupiah depreciated by 0.72 per cent to...
Moody's: US-China Battles Still Hits Asian Export Weakness
  JAKARTA (TheInsiderStories) -- Direct investment flows from the US into low-tax countries are likely to fall, in some cases meaningfully, as a result of the US tax overhaul, which generally dis-incentivizes multinationals from keeping assets and operations in low-tax jurisdictions, Moody's Investors Service says in a new report. While the...
JAKARTA (TheInsiderStories) - A global commerce leader eBay Inc. will expand its presence in Japan with the acquisition of Giosis’ Japan business, including the Qoo10.jp platform for an undisclosed value. eBay currently is an investor in Giosis Pte. Ltd., which runs a number of localized marketplaces in Asia, including Giosis’ Japan...
JAKARTA (TheInsiderStories) – The sharing economy continues to expand, necessitating evolution of traditional financial institution business models, particularly with digital payment systems. Today, blockchain is the world's leading software platform for digital assets, offering the largest production platform in the world with new technology to build a radically better financial...
JAKARTA (TheInsiderStories) - China's manufacturing sector expanded at a slower pace in February, official data showed Wednesday, hit a 19-month low in February with the Lunar New Year holidays contributing to slowing business activities. The country's official manufacturing PMI came in at 50.3 in February, China's National Bureau of Statistics reported....
JAKARTA (TheInsiderStories) - President Joko Widodo estimates that Indonesia's economic value could reach US$ 2 trillion in the next 14 years, or by 2032. As reflected by the  nation’s Gross Domestic Product (GDP), this may be achieved if Indonesia's economic growth is consistent at 5~6 per cent per year. Indonesia's nominal...
JAKARTA (TheInsiderStories) - Diversified group PT Astra International Tbk (IDX:ASII) booked net profit of Rp18.88 trillion in 2017, increased 25 per cent from Rp15.16 trillion in the previous year. The surge of financial service division’s net profit offset the decline of automotive and infrastructure. The company posted sales of Rp206.1...
JAKARTA (TheInsiderStories) - Indonesian Government has released PT Mass Rapid Transit Jakarta (MRT Jakarta) map trace of the second phase railway to connect Hotel Indonesia circle to Kampung Bandan Railway Station located on the border of North and Central Jakarta. President Director of MRT Jakarta William Sabandar told reporters on Tuesday (27/02), the MRT phase-two...
JAKARTA (TheInsiderStories) - International Monetary Fund (IMF) Managing Director Christine Lagarde said on Tuesday the global economy was showing broad-based growth, but the landscape was shifting with heightened risks of trade disputes, monetary policy normalization and technological change. Lagarde, speaking to an IMF conference in Jakarta in preparation for the...
JAKARTA (TheInsiderStories) - Indonesia's biggest consumer goods company Unilever Indonesia booked Rp 7 trillion (approx. US$ $515 million) in net profit over full-year 2017, up 9.6 percent year-on-year (y/y) from net profit in the preceding year. The company's net profit growth was supported by a 2.9 per cent (y/y) increase in...
JAKARTA (TheInsiderStories) -  U.S miner Freeport Mcmoran Inc. (NYSE: FCX) prepared capital expenditure US$2.1 Billion in this year to develop project in Indonesia and other countries. The company need up to $20 billion to develop Grasberg gold and copper mine in Papua province until 2031. Based on his presentation in one...
JAKARTA (TheInsiderStories) - Emerging markets have become a major force in driving development and fighting climate change as 34 countries have initiated banking reforms to expand sustainable lending, according to the first comprehensive Global Progress Report of the Sustainable Banking Network, an IFC-supported organization of banking regulators and associations. Those...
JAKARTA (TheInsiderStories) - Go-Jek, an Indonesian ride-hailing company has raised US$1.5 billion in venture capital funding from investors included Google and Blackrock. After the deals the value of Go-Jek at around $5 billion now. Earlier this month, PT Astra International Tbk (IDX: ASII), the Indonesian conglomerate has invest $150 million in...
JAKARTA (TheInsiderStories) - Flag-carrier PT Garuda Indonesia Tbk (IDX:GIAA) has vowed to return to profitability this year, on anticipated aviation industry improvement, after recording losses last year. “We hope for improved performance in 2018. In the first quarter, we may still have to report losses as we are still in a...
JAKARTA (TheInsiderStories) – The Government is drafting a regulation that will slash the luxury goods sales tax and import duty of electric car, as an attempt to stimulate the development in Indonesia. The move is also part of the Government’s drive to reduce emissions from vehicle sector. Industry Minister Airlangga Hartarto...
JAKARTA (TheInsiderStories)  - Moody's Investors Service has assigned a B3 corporate family rating (CFR) to Toba Bara Sejahtera Tbk (P.T.). At the same time, Moody's has assigned a B3 rating to the proposed senior secured bond issued by Toba Bara. The outlook on all ratings is stable. Toba Bara will use the net bond...

A Day Away Lagarde and Widodo

JAKARTA (TheInsiderStories) - President Joko Widodo (Jokowi) received the International Monetary Fund (IMF) Managing Director Christine Lagarde at the Merdeka Palace on Monday (26/2). Lagarde was accompanied by Changyong Rhee, Director of the Asia Pacific Department, IMF, Gerard Thomas Rice, Director of Communications Department, IMF, and Jianhai Lin, Secretary of the...
Indosat's New CEO Appointment Triggers Question
JAKARTA (TheInsiderStories) - Fitch Ratings has affirmed Indonesian telecom operator PT Indosat Tbk's (IDX: ISAT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BBB+', and simultaneously affirmed the foreign-currency senior unsecured rating at 'BBB+'. Fitch Ratings Indonesia has also affirmed Indosat Ooredoo's National Long-Term Rating at 'AAA(idn)'. The Outlooks...
Indonesia's Foreign Capital Inflows US$6.3B in 1Q 2019
JAKARTA (TheInsiderStories) - President Joko Widodo has reportedly nominated a sole candidate to replace Agus D.W. Martowardojo as Governor of Bank Indonesia: current Deputy Governor Perry Warjiyo, who is also an alumnus of Gadjah Mada University, Yogyakarta circa 1980. Sofjan Wanandi, the Vice President’s Special Staff member close to this matter,...
JAKARTA (TheInsiderStories) - The Indonesian Democratic Party of Struggle (PDIP) has officially declared the incumbent President Joko Widodo as presidential candidate in the 2019 presidential election. The decision was made during the party's national working meeting in Bali on Friday (23/02). The news broke up in the afternoon by the...
JAKARTA (TheInsiderStories) – The Indonesian government will continue to encourage higher national aluminum production, shooting at a figure of 1.5-2 million tons per annum (MTPA) by 2025, from around 250,000 MTPA at present. This is their attempt to enable producers to meet growing export market demand. Director General for Metal,...
JAKARTA (TheInsiderStories) - Indonesia Ministry of Finance has issued a US$1.25 billion of five-year green bond on Friday (23/2), which is designed to comply with Islamic Law. This issuance marked Indonesia as the first Asian country to sell a sovereign green sukuk bond. One banker working on the deal said...
JAKARTA (TheInsiderStories) - Indian authorities have rescinded anti-dumping import duty on Indonesian melamine products, after discovering that there was no link between the imported goods and losses suffered by the country's domestic industries. This is certainly a positive news for Indonesian melamine exporters. The Indian Directorate General of Anti-Dumping and...
JAKARTA (TheInsiderStories) -  State electric company PT Perusahaan Listrik Negara (PLN) has secured €80 million (approx. Rp1.4 trillion) loan from the Gospodarstwa Krajowego (BGK) Bank of Poland, to finance the construction of power plants in Lombok, West Nusa Tenggara. The move is part of a wider effort to fulfill the government’s...
 49% report their company suffering fraud in last two years, up from 36% in 2016  The majority of external perpetrators (responsible for 40% of fraud) are “frenemies” of the organisation – agents, shared service providers, vendors and customers  41% have spent at least twice as much...
JAKARTA (TheInsiderStories) – The Joko Widodo government is committed to maintain the current electricity tariff until 2019, as a move to maintain price stability, Energy and Mineral Resources Ministry Ignasius Jonan said on Thursday (22/02). He said this was the message he received from the President during a meeting recently....
JAKARTA (TheInsiderStories) – The Government's emergency decision to halt all elevated transportation projects across the country will certainly exert an impact on private contractors involved in construction, according to Dandung Sri Harninto, Vice Chairman of the Indonesian Department of Infrastructure Development and Infrastructure Structure Committee. Losses will arise from the funding side for...
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 0.42 per cent to 6,615.47 points in the first session on Thursday (22/02), pressured by the news of likely increase of the Federal Reserve's (Fed's) interest rate this year.   The shares trading in the first session was highlighted by the weakening of...
JAKARTA (TheInsiderStories) – In order to boost the tourism industry in the northern part of Bali Island and anticipate overcapacity of the current international airport, Bali provincial government has agreed to develop the second international airport, called the New Bali International Airport. President Director of the developer of the airport PT...

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