Daily Business Briefing – Nov. 2

JAKARTA (TheInsiderStories) – Good morning. We provide several pieces of important news that might help your business decisions today:

Foreign Direct Investment Edges Up in Q3

Indonesia recorded a slight increase in foreign direct investment in July-September, compared to the previous quarter, according to data released by the National Investment Coordinating Board. FDI rose 12 percent in the third quarter from a year earlier in rupiah terms, the investment board said. That compared with the 10.6 percent annual increase in April-June. The FDI total in the latest quarter was Rp 111.7 trillion, which the board converts to $8.3 billion. The board’s data excludes investment banking and the oil and gas sector.

Indonesia to Become LNG Importer in 2020 

Indonesia is expected to become a net importer of liquefied natural gas in 2020 as its population grows, notching up an LNG deficit of 4 billion cubic feet per day (bcfd) by 2030, a senior official from state-owned energy firm Pertamina said on Wednesday(25/10). The increase in population and rising industrial production will likely boost gas demand from the power, industrial and transport sectors, said Irma Surya, general manager of Pertamina’s LNG sales. (Reuters)

DKI Jakarta sets 8.71% higher in minimum wages 

The Jakarta provincial government sets minimum wages (UMP) at Rp3,648,035 million (US$268.99) for 2018, representing an increase of 8.71 per cent from 2017 at Rp3,350,750 million. Last year, the UMP also rose 8.71 percent from previous year. The increase takes into account the inflation rate and economic growth in 2017. Vice Jusuf Kalla comment that the rise was a “fair” increase, while deputy governor Sandiaga Uno noted the increase is a ‘win-win’ for all parties.

Chandra Asri Issuing Global Bonds worth US$300M

PT Chandra Asri Petrochemical Tbk (IDX:TPIA), the country’s largest petrochemical producer, is issuing global bonds worth US$300 million maturing in 2024. The bonds were sold at a price of 99.126% with an initial yield of 5.16%. Acting as bookrunners are Citigroup, Deutsche Bank, HSBC, DBS Bank, Mandiri Sekuritas. (*)