Indonesian manufacture Purchasing Managers Index stood at 51.2 in March, higher than February 50.1 - Photo by Industry Ministry Office

JAKARTA (TheInsiderStories) – Good Morning! Indonesian manufacturing Purchasing Managers Index (PMI) at level 51.2 in March. This number jumped from the previous month which was at the level of 50.1.

Since the beginning of 2019, in the last three months the Indonesian manufacturing PMI index has continued to rise, starting in January at the level of 49.9 then February, rising to the level of 50.1 until now at the level of 51.2.

In fact, at the ASEAN level, Indonesia’ manufacturing PMI in March 2019 ranked 4th or exceeded Thailand (50.3), Singapore (47.9) and Malaysia (47.2). Indonesia’ manufacturing PMI is also higher than the acquisition of ASEAN manufacturing PMI of 50.3.

Meanwhile, Indonesian government has won the arbitration lawsuit lodged by the Indian Metal and Alloys Limited (IMFA). The ruling was announced after a series of legal proceedings that lasted since August 2018 in Den Haag, the Netherlands.

The court rejected the IMFA’ claims and ordered it to return costs incurred during the arbitration proceedings to the Indonesian government, which amounted to US$2.97 million and GBP361,247.23.

Furthermore, the narrative to buyback PT Indosat Ooredoo Tbk (IDX: ISAT) as promised by vice presidential candidate Sandiaga Salahuddin Uno is for a frequency sovereignty. Uno had said that his plan to re-purchase Indosat is a step in supporting the single identification number program through the e-ID card. To make the program a success, he said, Indonesia must have control over data first.

Indonesia has been issuing Rp330.1 trillion (US$23.41 billion) of State securities so far. The realization reached 39.98 percent of this year’ target.

The Government eyes to issue around 50-60 percent of state securities during first semester. The country seemed to have more interest in issuing retail bond, as it has released 10 series of it.

Moreover, Batik Air, member of Lion Air Group has officially received a new Airbus 320-200CEO (A320) type aircraft which is directly flown from an Airbus manufacturer in Toulouse, France. This latest fleet is the 42nd aircraft, of the A320 family’s total orders of 234 units.

CEO Batik Air, Capt. Achmad Luthfie said, Airbus 320 Family aircraft types equipped with modern technology have helped Batik Air to strengthen domestic and international networks and develop full-service concepts. The presence of new aircraft, provides optimism for the level of flight time per day. At present, Batik Air records an average OTP of 90.3 percent.

Until now Batik Air serves more than 40 domestic and international destinations to Singapore, Kota Kinabalu in Malaysia, Chennai in India, Perth in Australia, also Guilin and Kunming in China with a frequency of more than 350 flights per day.

After Chinese President Xi Jinping’ tour to Europe, the European Commission President Jean-Claude Juncker criticized Chinese trade practices. While during the tour, Xi signed bilateral agreement with several European countries, including France.

Europe has become more vocal in its criticism of China, calling the country as a partner, an economic competitor, but also a systemic rival on governance. Concerns are mounting over China’s growing influence and investments.

Moreover, the EU has also been divided over China’ Belt and Road infrastructure project, which some see as a threat to sovereignty. Italy’s populist government last month signed on to the initiative, brushing off the concerns.

Indonesian Rupiah moved slightly strengthening by 0.09 percent 14,234.25. The Jakarta Composite Index fell 0.25 percent to 6,452.61.

US$1: Rp14,100

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia