Regulations
DBS-Danamon deal may temper Indonesia banking M&A - Fitch Ratings | Outlook data
(Insider Stories) - Bank Indonesia’s decision to allow DBS Group Holdings Ltd. (SGX:D05) to take only a 40% initial stake in PT Bank Danamon (IDX:BDMN) rather than the majority holding DBS is seeking may temper inbound M&A interest in the banking sector, Fitch Ratings says. It notes that holdings of between 10%-50% of a bank Full Article
Indonesia extends forest moratorium by 2 years | Regulation data
(The Insider Stories) - Indonesian President Susilo Bambang Yudhoyono has signed a decree extending a landmark 2011 moratorium on clearing primary rainforests and peatlands by two years. The government is seeking to curb rampant output of greenhouse gases by barring new logging and palm oil plantation permits under a US$1 billion deal with Norway. Presidential Full Article
Indonesia relaxes import rules after US goes to WTO - Wires | Regulation data
(The Insider Stories) – Indonesia has eased restrictions on some agricultural imports after the U.S. complained to the WTO, cutting the number of horticulture products restricted for import to 39, including removing restrictions on garlic and onions that have recently driven food price inflation in Indonesia as scarcity pushed prices higher, according to a wire Full Article
Indonesia considering revising minimum wage rule | Regulation data
(The Insider Stories) – Indonesia’s government is considering revising minimum wage rules to better accomodate the needs of entrepreneurs and employees, Industry Minister M.S. Hidayat says. The government has decided to revise the increase in the minimum wage from 40% to only 20% for labour-intensive companies and small-to-medium enterprises, after threeway discussions between the Labour Full Article
Joint mining industry committee demands clarity on ore export ban | Regulation data
(Insider Stories) — A joint committee mining industry committee has been formed in order to demand clarity from the government on its plan to ban raw mineral exports from next year and mandate ore be refined locally as chaos continues in the mining industry, The Jakarta Globe reports. It quotes Indonesia Coal Mining Association chairman Bob Kamandanu Full Article
Indonesia to Release LCGC Regulations By End of March
(Insider Stories) - Indonesia will be releasing regulations of the Low Cost Green Car (LCGC) in the next two weeks, industry minister MS Hidayat said on Friday. LCGC producers will enjoy zero percent value added tax, according to the minister. Currently, the government charges 10 percent VAT for goods produced in Indonesia. PT Toyota Astra Full Article
Fitch: New Rules to Boost Indonesian Consumer-Loan Asset Quality
June 13, 2012 (Press Release) - New consumer finance rules in Indonesia that cap the maximum loan-to-value on auto loans and mortgages are likely to improve underwriting quality and slow lending growth, says Fitch Ratings. The impact will be felt mainly on non-bank finance companies, which are more active than banks in higher-risk lending. The Full Article
