JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Chinese Plastic Maker Hong Sheng to Build Plant in Batam
Batam Free Trade Zone Authority (BP Batam) has granted its first investment permit in 2018 to Chinese plastic maker Hong Sheng Plastic Industry, which is set to invest US$4 million in Batam, Riau Islands. The company’s president director, Zheng Bo, said the factory would begin to operate no later than the end of March, as Hong Sheng had already secured all the necessary permits. “We will produce plastic pellets in Indonesia and then export to China,” he told The Jakarta Post on Friday.
Indonesia Distributes Rp120t to MSMEs
The government has allocated Rp 120 trillion (US$8.39 billion) for microcredit program Kredit Usaha Rakyat (KUR) this year, higher than the Rp 106.6 trillion allocated last year, the Office of the Coordinating Economic Minister’s deputy for macroeconomic and finance, Iskandar Simorangkir, has said. He said the government was optimistic that more micro and small businesses would accept KUR credits as the interest rate had been decreased to 7 per cent this year from 9 per cent last year. The disbursement of KUR funds reached Rp 95.6 trillion as of Nov. 30, 2017, 89.6 percent of the target.
Garuda Indonesia to Add 2 Flight Routes to China
National flag carrier Garuda Indonesia said Friday (05/01) that it will start regular flights from Bali to two new destinations in China at the end of January, namely Xi’an [in Shaanxi Province] and Zhengzhou [in Henan Province] – from Denpasar. These new routes are part of our continued efforts to maximize the potential market for tourism from China. The move aims to take advantage of growing number of Chinese tourists to the Bali Island.
Air Asia to Stop Serving Solo-Kuala Lumpur Route
Malaysia Air Asia said it will stop serving the Solo-Kuala Lumpur route, from Jan. 16, 2018. The company’s Head of Commercial Spencer Lee was quoted by Antara as saying that that the decision was made due to commercial issues, but declined to explain in detail. Lee said the airliner has considered thoroughly before making the decision.