Daily Briefs – Sept. 13

JAKARTA (TheInsiderStories) – Good morning. we would like to share news features that you might find useful for your business decisions today.

Recovery Connectivity Customer Service Has Recovered 100%
PT Telkom Indonesia Tbk (IDX: TLKM) has confirmed Telkom-1 Satellite customer connectivity service, covering 15,019 customer service sites, consisting of 11,574 ATM services and 3,445 Non-ATM sites, has recovered has recovered 100% since Sunday. Telkom is still guarding the stability of the entire network of sites tightly after this connectivity recovery.

Next startup goes IPO M Cash
M Cash Integrasi, a digital kiosk startup backed by local investment firm Kresna Graha Investama, plans to go public towards the end of this year to raise capital for expansion. ‘M Cash’ will be the second startup listing on the Indonesian Stock Exchange (IDX) this year, following peer PT Kioson Komersial Indonesia. M Cash, which facilitates a wide range of transactions, from telephone and power voucher purchases to concert tickets and bill payments, plans to raise Rp300 billion ($22.7 million) from the sale of 25 percent of its enlarged capital in November. (Jakarta Globe)

Low-end smartphones dominating sales in Indonesia
69 percent of 7.9 million smartphone devices shipped in Indonesia in the second quarter of this year cost less than $200, while ultra-high end smartphones costing $600 or more only counted for 1% of total sales. However, the smartphone market in Indonesia is still heading decidedly upmarket. The top five brands of smartphones in the second quarter of 2017 in Indonesia were Samsung, Oppo, Advan, Asus, and Xiaomi. (IDC)

Indonesia to have largest geothermal power capacity by 2021
Indonesia is expected to become the world’s largest geothermal power producer, beating the largest producers, such as the US and the Philippines, by 2021. The projection is based on the growth of geothermal power plant installations that continue to increase rapidly from year to year. (Antara)

Pertamina names Alexander Lay as Commissioner Board Member
State-owned oil and gas company PT Pertamina has named Alexander Lay as a Commissioner Board member starting yesterday, becoming board member number become six, according to a source familiar with the matter. Alexander has been known as a lawyer with a close relationship with PDI Perjuangan – the ruling party – and a supporter of Joko Widodo and Jusuf Kalla during the 2014 presidential election campaign. Born in Flores 43 years ago, he graduated from Atmajaya University with a degree in Law in 2003. He had previously earned a Bachelor’s Degree in Petroleum Engineering major from Institut Teknologi Bandung (ITB), in 1993.

Oil prices gain as OPEC cuts production
OPEC’s crude oil production declined in August, thanks to Saudi Arabia cutting more of its production. OPEC produced 30.004 million barrels daily last month, versus 30.113 million bpd in July, with Saudi Arabia, the group’s leader and biggest producer, reducing output to 10.022 million bpd from 10.049 million bpd in July. This caused oil prices to rise somewhat, with global benchmark Brent crude lifting 0.84 per cent to $54.29 per barrel and US West Texas Intermediate (WTI) rising 0.31 per cent to $48.22 per barrel oil. However, oil prices still struggled to break above $50 a barrel after being weighed down by the resurgence of U.S. shale production.(Bloomberg)