Daily Business Briefing – Sept. 27

JAKARTA (TheInsiderStories) Good morning, we provide you several news that night help your business decision today :

Bank Rakyat Indonesia to Split Stock 1:5
PT Bank Rakyat Indonesia Tbk (IDX: BBRI) plan to split its share with 1:5 ratio. The state-owned lender will ask permission to shareholders at Oct. 18. Following the stock split, the number of shares will rise from 24.67 billion to 123.34 billion shares. Recently, other state-owned lender PT Bank Mandiri Tbk (IDX: BMRI) made stock split on their share with ratio 1:2 where the stock was traded in new price since last Sept. 13.

Government Delay Sugar Auction to 2018
The Government of Indonesia has set back their plan for the auction of refined crystal sugar to Jan. 8, 2018 from an initial plan later this year. The postponed is expected to allow more time to increase the number of participant of the small medium enterprises (SMEs) and Cooperative. To date, there are only 310 SMEs and Cooperatives from 18 provinces participate in the auction, as well as 150 participant from food and beverage industry.

United Tractor Sale Reach 2,411, Up 75% 
PT United Tractors Tbk (IDX: UNTR) heavy equipment sales rose by 74.07 percent to 2,411 units during January to August compared to same period 2016 that recorded 1,385 units. Heavy mining equipment sales recorded 51 percent, highest of all sectors followed by the construction sector at 23 percent, agribusiness 18 percent and forestry 8 percent. Tight schedules for the arrival of heavy equipment has exerted a positive impact on the increased sales. Considering the increasing demand, the Company will not revise their sales target for the year, which is set at 3,200 units.

Indonesian’s Textile and Textile Product Export Jumps by 2.71 percent
Indonesian’s Textile and Textile Product (TPT) exports rose 2.71 percent on an annual basis, to US$7 billion, between January and July 2017, data from Ministry of Trade Affairs shows.  Government expect TPT export will reach $12.09 billion this year and will rise gradually to $15 billion in the next 2019. Currently Indonesia has three classification of TPT product: upstream sector that is dominated by fiber, middle sector including spinning, knitting, weaving, dyeing, printing and finishing and the third is downstream sectors including garment and textile product.

Trans Java Toll Road Start Operation in 2018

The 660 kilometer Trans Java toll road from Jakarta to Surabaya would begin its operation by the end of 2018, Public Works and Housing Minister Basuki Hadimuljono said here on Tuesday. He added that in addition to the Trans Java toll road, the government has also worked on the 4,350-kilometer-long Trans Papua and the 2.9 thousand-kilometer-long Trans Sumatra roads. Basuki said, that Indonesia has increased its rank on infrastructure development from 82 to 60.

Lazada Group To Sell Selected Alibaba Product

Online retailer Lazada Group will sell select item from Alibaba Group Holding’s Taobao market place in Indonesia, Philippines and Thailand in the next few week through Lazada’s platform, following previous selling in Malaysia and Singapore earlier this year. The product are curated to appeal to local tastes and will be offered in the respective local language on the Lazada site.  In June, Alibaba invested additional US$1 billion to boost its stake to 83 percent.

China blocks WhatsApp ahead of Communist Party meeting

Facebook, Twitter, Instagram, and most Google services are blocked in China, and WhatsApp is now joining that list. As reported by The New York Times, the Chinese government is cracking down on the Facebook-owned messaging service, with users all over the country facing disruptions.