JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Yellen Sees Bitcoin Assets Are Highly Speculative
The Federal Reserve Chairwoman Janet Yellen sees that the crypto currency is one of the biggest financial bubble of all time and is not stable to the payment system. She said that digital currency is indeed increased during his tenure in which the Fed does not have the authority to regulate Bitcoin and continues to assert it. Yellen stated that the risk of U.S financial institutions is very limited even if the value of Bitcoin plummeted.
Bukit Asam Launches 1:5 Stock Split
PT Bukit Asam Tbk (IDX: PTBA) has launched stock split with ratio of 1:5, in order to improve the liquidity of the company’s shares, said President Director Arviyan on Thursday (14/12). After the stock split, Bukit Asam’s share price will change from Rp11,200, (the shares closing price on Dec. 13) to Rp 2,240 per share.
Telkom’s Unit Acquires ICT Solution Provider Bosnet
PT Telkom Indonesia Tbk (IDX: TLKM), through its unit, PT Sigma Cipta Caraka (Telkomsigma), acquired ICT solution provider PT Bosnet Distribution Indonesia in an effort to develop TelkomGroup’s logistics business. The group sought to support its existing businesses in information, communication technology (ICT), e-commerce, payment gateways and big data analytics, said Telkomsigma president director Judi Achmadi on Thursday (14/12). Bosnet was an ICT solution provider for the distribution of fast moving consumer goods in Indonesia.
Jogyakarta Airport Train to be Completed in 2020
Coordinating Ministry for the Economic Affairs targets the construction of the railway, linking Jogyakarta town in central Java to its international airport, will be completed in 2020. The Head for Transportation System at the ministry DwinaDwinanta Utama said the construction of the 5.4-km railway, including developing Kedundang Station (Kulon Progo) is scheduled to start next year.
Feasibility Study of Jakarta-Surabaya Speed Train to Be Completed in March
Coordinating Minister for Maritime Affairs Luhut Panjaitan said the feasibility study of the Jakarta-Surabaya speed train is projected to be completed in March 2018. He made the comment after visiting Japan to meet with top Japanese leaders including Japan’s PM Shinzo Abe. He expects to be financing for the project to come from various resources, in addition to Japan.
SOE Ministry Expects Holding Firms in Energy, Finance Completed in Q1
The State Owned Enterprise Minister (SOE) Rini Soemarno targets the establishment of two state-owned holding companies in energy and finance to be completed in the first half of 2018. Therefore he urged the SOEs in those two sectors to hold shareholders meeting in the first quarter for the smoothen the process. In energy holding, Pertamina is set to take the lead, while in finance, Danareksa is set to take the lead, with four SOE banks to join in, namely Bank Mandiri, Bank Negara Indonesia and Bank Tabungan Negara.
Timah, Nigerian company Topwide Set up JV Firm
Indonesia’s largest tin producer PT Timah and Nigeria-based Topwide Ventures Ltd have set up a joint venture firm to develop a tin mining site in Nigeria. The JV deal, signed in Abuja, Nigeria on Monday, will pave the way for both parties to jointly carry out a feasibility study in the country. Timah Production and Operations Director Alwin Abar said in a statement that the JV deal is part of Timah’s move to expand its international operations.