JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
UN: 3% of The World Economy to Grow in 2018 and 2019
The world economy is expected to remain stable at three percent in 2018 and 2019 after recording an impressive growth rate of three percent in 2017, said the report “World Economic Situation and Prospects 2018”, which was launched on Monday (11/12). Growth in 2017 was the strongest performance of the world economy since 2011. Repair widespread, with about two-thirds of the world’s countries experiencing stronger growth in 2017 than the previous year. Improved global economic situation provides an opportunity for countries to focus policy on long-term issues such as tackling climate change, overcoming the existing inequalities and remove institutional barriers to development, according to the report. The report also warned of risks, including changes in trade policies, sudden worsening of global financial conditions and increased geopolitical tensions.
Go-Jek rumored to be Acauisition Midtrans
The Unicorn Indonesia Go-Jek continue is rumored is in talks to acquire startup Midtrans payment gateway. This industry observers estimate the value of this acquisition could reach US$100 million. Established in 2012, Midtrans formerly known as Veritrans is Indonesia with a payment gateway payment infrastructure that is safe, reliable and free of fraud. Their customers include Sun Mall, Tokopedeia, bukalapak, Cottonik, Brodo, Garuda Indonesia, Pegi-Pegi and JD.id. According to market research Indonesian payments will record a CAGR of 72.3 percent over the period 2017-2021. In the past year Go-Jek has made five acquisitions where the company last COUNTER tickets Indonesia in August 2017 ago and previously Lefshift mobile application development company.
Natural Crude Oil Price Rising
World oil prices rose in late trading on Monday (Tuesday morning GMT), after news that a major pipeline network in the UK North Sea will be closed for repairs. Forties pipeline system will be closed for several weeks while the operator is on the pipe repair cracks were found last week, according to CNBC. It was reported that the pipeline carries about 450,000 barrels per day of Forties crude oil from offshore fields in the North Sea to a processing plant in Scotland. Analysts said the closure of the pipeline network to support oil prices due to supply the market will go down. US benchmark crude West Texas Intermediate (WTI) for delivery in January, added 0.63 dollars to settle at 57.99 dollars a barrel on the New York Mercantile Exchange. Meanwhile, the global benchmark, Brent North Sea crude for February delivery, rose 1.29 dollars to close at 64.69 dollars a barrel on London’s ICE Futures Exchange.
LinkNet Prepares Rp1.3 TRILLION For Share Buyback
PT Link Net Tbk (IDX: LINK) intends to repurchase its shares listed on the Indonesia Stock Exchange. According to the company announcement last week, the costs to be incurred for the implementation of this stock buyback about Rp1.3 trillion. The number of shares to be bought back up to 7.1% of its paid-up capital or a maximum of 216,028,106 shares. The company plans to keep shares bought back as Treasury Stock nonetheless to retain the provisions of applicable legislation. The Company will limit the maximum share repurchase price of Rp6,000 per share. The buy-back is planned for 18 months starting on January 15, 2018 until July 14, 2019. The Company will hold EGM on 15 January 2018.
Garuda Prepares Capex US$300 Million in 2018
PT Garuda Indonesia Tbk (IDX: GIAA) prepared capital expenditure US$300 million next year, said President Director Pahala Mansury. For that, the company need loans $200 million could come from either banks or the capital market. The funds will be used for aircraft maintenance, which the company will focus on next year. Garuda has also decided to postpone adding its fleet by purchasing new aircraft. He stated, Garuda is targeting to book $3.2 billion in revenues. This year’s revenue contribution is split between domestic and international flights by 52 percent and 47 percent. For the year-end the end of the year, Garuda estimates a 15-percent passengers’ increase.