Daily Business Briefs – Nov 16

The Board of Transaction at Indonesia Stock Exchange - Photo by IDX

JAKARTA (TheInsiderStories) – Good morning. We offer you several relevant news that might help your business decisions today :

PTPN IV Planning To Go Public in 2018

State-owned plantation firm PTPN IV plans to list its shares on the Indonesian Stock Exchange (IDX) through an initial public offering (IPO) next year, pending on conducive economic and political conditions. Dasuki Asmir, president director of of state plantation holding company PTPN III, said PTPN IV was financially the most ready to go public from among its 14 plantation subsidiaries. PTPN IV booked a net profit of Rp 590 billion (US$43.5 million) as of October and Rp 395 billion in 2016. (*)

Astratel Interested to Become Operator of Patimban Port

PT Astratel Nusantara or Astra Infra has expressed its interest to become the operator of Patimban Port, Subang, West Java, considering that the port is one of national strategic projects. Astratel Infra Director Rahmat Samulo was quoted by Bisnis.com as saying that the company has set aside funds in order to meet the requirements as operator of the port. Currently, the company said it will take part in a tender to be undertaken by the Transportation Ministry. Under the deal between the Indonesian government and Japan, the Japanese side will hold 49 per cent of shares, while Indonesia 51 per cent. Of the 51 per cent, the government will hold 25 per cent and private sector 26 per cent. The shares to be offered to private national companies will be tendered by the Transportation Ministry in 2018.

Batik Air To Serve Jakarta-Silangit Airport Route in December

Batik Air, owned by Lion Air Group, plans to begin serving new route from Soekarno-Hatta airpot to the newly operated Silangit Airport in Sumatera from December 1, 2017. The new route is expected to help boost tourism visiting tourist destinatinos in Sumatera including to Toba Lake and help boost Indonesia’s target to attain foreign tourists arrival of 20 million in 2019.

Dahlan Iskan To Sell All Stakes in Jawa Pos: Report

Former State-Owned Enterprises Minister Dahlan Iskan is reportedly to sell his entire stake at Jawa Pos Group to property tycoon Ciputra and other investors, wartaekonomi.co.id reported. Ciputra, the founder of property conglomerate Ciputra, has already had stakes in a number of media, including in Bisnis Indonesia daily along with Sukamdani Sahid Gitosardjono, Anthony Salim and Eric Samola. According to a report by www.wartaekonomi.co.id, the online portal of biweekly business magazine Warta Ekonomi, apart from selling the stake to Ciputra, the former minister also sold the shares to his Jawa Pos partner Eric Samola.

Government to Offer Incentives to Low-Cost Emission Vehicle

The Indonesia government is preparing incentives for local and foreign manufacturers to develop low-cost emission vehicles (LCEV) as an effort to minimize the country’s dependency on fossil fuels. Industry Minister Airlangga Hartarto said that the incentive, being discussed with the Finance Ministry, will be gradually adjusted to the manufacturer’s commitment to developing the LCEV units.