JAKARTA (TheInsiderStories) – Good morning. Followings are some relevant news that might help your business decisions today:
Jakarta-Surabaya Speed Train Recommendation To Be Issued in March
Transportation Minister Budi Karya said his ministry expects to issue a recommendation in March this year for the development of Jakarta-Surabaya medium-speed train this year, on condition that all technical requirements are completed. If there are pending technical issues, the ministry will review it again and issue the recommendation by year-end.
He said the government has assured that the Jakarta-Surabaya medium-speed train will be developed by Japan, by adopting narrow-gauge technology — 1.067 meters wide of rail compared to the standard rail of 1.435 meters. The project will be developed in stages, with the first stage to be developed linking Jakarta and Semarang. The Jakarta-Surabaya trip will take about five-and-half-hour, Budi Karya said.
Government to Tender 43 Oil and Gas Working Areas in 2018
Indonesia’s Energy and Mineral Resources Ministry aims to auction 40 conventional and three non-conventional oil and gas working areas (WKs) in early March this year. The WKs to be auctioned will include 32 blocks that failed to attract investors or bidders in the period of 2015-2017 auctions. The oil and gas blocks contracts will be based on gross-split production sharing contract (PSC) scheme, instead of cost-recovery PSC scheme, said ministry’s secretary-general Ego Syahrial last Thursday. Currently, the ministry is processing the tender of 15 oil and gas blocks offered in late 2017, in which five of them have attracted bidders interest.
FIF Financing Facility Growth Up 6% in 2017
PT Federal International Finance (FIF Group), one of major motorcycle financing in the country, provided Rp34.6 trillion in financing facilities in 2017, representing a growth of 6 per cent from previous year. President Director of FIF Margono Tanuwijaya said new motorcycle lending remained as the largest contributor to the financing facility growth and the remaining loans were given to second-handed motorcycle (25 per cent) and 10 per cent multi-purpose financing facility. The lending growth was below the company’s target of 10 per cent, Bisnis Indonesia daily reported.
Citilink Targets to Transport 15.7M passengers in 2018
Budget airliner Citilink Indonesia, a subsidiary of Garuda Indonesia targets to transport 15.7 million passengers in 2018, increased 26.6 per cent from realized 2017 totaling 12.4 million passengers, the company’s President Director Juliandra Nurtjahjo said Sunday in a statement. In addition, it also aims to improve its on-time performance (OTP) by undertaking innovation in areas of check-in process, etc. Currently, Citilink serves 65 routes with 268 flight frequency per day, and serving 32 cities. It currently has 50 A320 units. (*)