JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Indofood CBP Buys Asahi shares for US$20 Million
PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), a listed food and beverage unit of diversified Indonesian conglomerate the Salim Group, will buy out its Japanese partner, the Asahi Group’s stakes in two beverage joint ventures for US$20 million by the end of next year. The two companies signed a conditional purchase agreement on Friday (22/12) for the acquisition of the Japanese firm’s 51 percent stake in PT Asahi Indofood Beverage Makmur and 49 percent stake in PT Indofood Asahi Sukses Beverage. Indofood CBP and Asahi established the joint ventures in 2013 to enter the bottled water business, which accounts for about a third of Indonesia’s non-alcoholic beverage market.
Phapros, Medi Myanmar Group Set Up JV
Indonesian pharmaceutical company PT Phapros Tbk, a subsidiary of PT Rajawali Nusantara Indonesia and pharmaceutical firm Medi Myanmar Group established a joint venture to develop the business of pharmaceuticals and medical devices in Myanmar. The cooperation strengthens the presence of Phapros in the Association of Southeast Asian Nations (ASEAN) market after having earlier successfully ventured in the Cambodian, Philippine, and Vietnamese markets. World Bank reported Myanmar`s economy is forecast to rise by 6.9 percent in 2017 and by 7.2 percent in 2018.
Indonesia’s FSA sees Bank’s Credit Growt 12% in 2018
The Financial Service Authority (FSA) said the country`s banking industry has greater optimism with the country`s economy as reflected by the increase in its credit growth target set for next year. In the banking business plans saw that the bank credit could growth around 12 per cent as against a growth of only 9 per cent estimated for this year. The regulator itself has said the country`s banking industry predicted the country`s bank credits would grow only by 10-12 percent next year. Based on Indonesia FSA`s data by November 2017 , bank credits grew 7.47 percent year-on-year.
Government Joined With Privates Develop Seaport in Papua
President Joko Widodo has said that Samabusa Seaport, located in Nabire District, Papua Province, will be developed further by the government and private companies. The seaport is crucial for entry cargo not only for Nabire District but also for six other districts, namely Intan Jaya, Paniai, Deiyai, Dogiyai, Waropen, and Membrano Raja. Samabusa seaport is also crucial to attract investors to Nabire, he added.