Daily Business Briefs – Nov 29

JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:

FSA to issue new fintech regulation in March

The Financial Services Authority (FSA) aims to issue a regulation on financial technology (fintech) businesses by March next year amid robust development of the industry, OJK deputy commissioner Nurhaida said Tuesday. Nurhaida underlined that the authority would seek a balance between regulating the industry for the sake of consumer protection and security and encouraging fintech businesses to further grow while monitoring dynamism in the fintech industry.

Nine Airports Prepared to Take Over Bali Airport’s Job

State-run air navigation company AirNav Indonesia has designated nine airports for planes that were scheduled to land at Bali’s the temporarily closed I Gusti Ngurah Rai International Airport. Airport authorities suspended operations at the airport on Monday and Tuesday following the eruption of Mount Agung on Saturday. The nine airports are in Jakarta, Makassar, Surabaya, Balikpapan, Solo, Ambon, Manado, Kupang and Banyuwangi.

APINDO Urged Taxman to Regulate Airbnb

Indonesia Employers Association (APINDO) urged government especially tax office to regulate online business (e-commerce) taxation related to the accommodation business, such as AirBnb. Chairman of APINDO Haryadi Sukamdani mentioned the absences of regulation will create the inequality or level of playing field similar to the conventional accommodation businessman.

MTF Seeks up to US$150 Million Funding

Bank Mandiri’s subsidiary, PT Mandiri Tunas Finance seeks funding from syndicated loans from several banks in Asia worth US $ 100 million to US $ 150 million to support financing distribution in 2018. The syndicated loan is expected to be disbursed in February or March 2018.

SoftBank Offers to Buy Uber Shares at 30 percent Discount

Japan’s SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said on Monday. The investment, which was approved by the Uber board in October, would also trigger a string of governance changes at Uber that would limit some early shareholders’ voting power, expand the board from 11 to 17 directors and cut the influence of former Chief Executive Travis Kalanick.

Jasa Armada to Buy 15-16 New Vessels

PT Jasa Armada Indonesia (JAI), a subsidiary of state-owned port operator PT Pelabuhan Indonesia II (Pelindo II), plans to buy 15-16 new vessels to strengthen its fleet. The purchase will be financed by the proceeds of the company’s initial public offering (IPO). As announced by the company on Tuesday (28/11), the company plans to raise Rp 2 trillion via the IPO in December. JAI will offer 1.74 billion shares or equivalent to 30 percent of total paid up capital at a price of Rp 325 – Rp 530 per share.

Bumi Serpong Damai Acquires Sinarmas MSIG Tower

PT Bumi Serpong Damai Tbk (IDX:BSDS) through its subsidiary PT Duta Cakra Pesona acquires Sinarmas MSIG Tower in central Jakarta for Rp954.29 billion, from PT Asuransi Jiwa Sinarmas MSIG. the company said in a filing to the Indonesian Stock Exchange. The purchase is considered as an affiliated transaction as the buyer and seller has the same ultimate shareholder.

Nippon Indosari to Acquire Prima Top Boga

PT Nippon Inddosari Copindo Tbk, the producer of popular Sari Roti bread product, is considering to acquire 51 per cent shares of pastry producer PT Prima Top Boga, Bisnis Indonesia quoted Corporate Communication of Nippon Indosari Stephen Orlando. The move aims to expand the company’s business. On Nov. 23, Nippon Indosari has signed a conditional shares subscription agreement and shareholders agreement with shareholders of Prima Top Boga.