China's Current Account Surplus in Q4 2018 by Strong Exports
Photo: World Bank

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

Taspen Will Increase Direct Investment in Infrastructure Projects

State pension fund company PT Taspen (Persero) raised its direct investment portion this year, particularly in infrastructure projects, from 1 per cent to 3 per cent.

President Director of PT Taspen Iqbal Latanro said the company has participated in at least 20 infrastructure projects. Participation is not only in the form of equity. Throughout 2017, the investment value of PT Taspen reached Rp 208.8 trillion. From that figure, the portion of deposits reached 20%.

Indonesia’s GMF AeroAsia says Airfrance-KLM Unit Shortlisted as Strategic Partner

Indonesia’s PT Garuda Maintenance Facility AeroAsia (GMF AeroAsia) will pick Airfrance-KLM group’s maintenance, repair and overhaul unit as a strategic investor after narrowing down a list of potential partners, a GMF AeroAsia executive said. PT Garuda Indonesia Tbk’s CEO said in October the flag carrier estimated its unit GMF AeroAsia could raise $200 million from selling a 20 percent stake to a strategic buyer.

GMF AeroAsia has a longstanding partnership with Air France Industries KLM Engineering & Maintenance. Corporate secretary Mohammad Arif Faisal also told reporters on Monday that GMF AeroAsia would seek shareholders’ approval for a 20 percent stake sale in March and expects a deal would be signed soon after.

Pelindo I to Manage 4 Industrial Zones

State-owned port operator PT Pelabuhan Indonesia I (Pelindo I) said it will develop and manage four industrial zones on Sumatera Island. The company is now in the process of land clearing and preparation of detailed engineering design (DED) stage. The four industrial zones are located in Kuala Tanjung in Medan, Lhokseumawe in Aceh, Kuala Elok in Riau province and Dumai also in Riau province. As for Kuala Tanjung, Pelindo I has obtained principle permit to develop industrial zone on 3,000 hectares of land, said Pelindo I President Director Bambang Eka Cahyana, as reported by Bisnis Indonesia.

Cahyana said a number of companies such as cement producer, palm oil firms and oil refineries have expressed interest to expand their business to Kuala Tanjung industrial zone. In developing the Kuala Tanjung industrial zone, Pelindo I will cooperate with PT Inalum, state-owned construction companies and other state-owned port operators. In developing Lhokseumawe, Pelindo I will team up with PT Pertamina and fertilizer firm PT Pupuk Iskandar Muda. In Riau province, Pelindo I will team with the Riau provincial government, PT Pembangunan Investasi Riau to develop the Kuala Elok and Dumai industrial zones. The Kuala Elok industrial zone will focus on downstream industries, namely CPO, refinery, coconut oil and rubber.