JAKARTA (TheInsiderStories) - Australia based property developer Crown International Holding Group is preparing an Rp7 trillion (US$500 million) to build a new luxury waterfront residential precinct on the Jakarta waterfront that would be the first of its kind for the city, the company said in a press release on Monday (07/29).
"This is the first vertical shelter to be built...
JAKARTA (TheInsiderStories)—The Indonesian Investment Coordinating Board reported that the country recorded realization investment Rp395.6 trillion (US$28.26 billion) in the first semester (1H) of 2019, up 9.40 percent compared to 1H 2018 of Rp361.60 trillion, said head of the agency today (07/30).
"The recovery continues since end of 2019 and accelerated in second quarter of this year. I believe this will...
JAKARTA (TheInsiderStories) - State-owned oil producer, PT Pertamina obtain participating interest (PI) of 30 percent through its subsidiary in Corridor Block starting in 2026. Currently the company hold 10 percent.
As eleven other oil and gas termination blocks, Pertamina also ensures that it is ready to become the Block Corridor operator in 2026, or three years after the contract runs on...
JAKARTA (TheInsiderStories) - Indonesian unicorn Traveloka is looking to raise Rp7 trillion (US$500 million) fresh funding that could value the company at as much as Rp630 trillion, local media reported on Monday (07/29). It Said, the investment, which will be used to fuel the booking provider’ expansion in the region, could close within the next two months.
In April, its...
JAKARTA (TheInsiderStories) - Indonesian company MNC Group joined with Chinese venture capital firm Qiming Venture Partners and other investors injected a Series B round US$45 million to RedDoorz, a hotel management and technology-based room bookings.
Other key investors in the round are existing RedDoorz backers Hendale Capital, International Finance Corporation and Susquehanna International Group. For Qiming, the investment in RedDoorz appears the first...
JAKARTA (TheInsiderStories) – Good morning! Indonesian Coordinating Investment Board will announce the realization investment for second quarter (2Q) of 2019. In the 1Q of this year, the realization recorded Rp195 trillion (US$13.93 billion), up 5.3 per cent rise compared to 1Q 2018 of Rp185.3 trillion.
In the series of seducing foreign investors entering Indonesia, yesterday, President Joko Widodo met Japan'...
JAKARTA (TheInsiderStories) - Italian multinational oil and gas company Eni S.p.A (BIT: ENI), through its subsidiary Eni East Sepinggan Limited and Neptune Energy Group Limited (Neptune Energy), signed an agreement for the sale of a 20 percent participating interest out of Eni’s share in the East Sepinggan area, offshore East Kalimantan, Indonesia to Neptune Energy, the companies have announced...
JAKARTA (TheInsiderStories) - After build Kediri Airport, PT Gudang Garam Tbk (IDX: GGRM) announced has established a construction company PT Surya Kerta Agung (SKA), said the spokesman today (07/29). The cigarette maker together with PT Suryaduta Investama injected capital of Rp200 billion (US$14.29 million) at the new unit.
According to the Corporate Secretary Heru Budiman, in a disclosure information to Indonesia...
JAKARTA (TheInsiderStories) - Singapore' ride-hailing company Grab Holdings Inc., get another US$2 billion funds and will investing in Indonesia. Last March, one of the leading apps in Southeast Asian received funding from Softbank Vision Fund and other investors worth of $1.46 billion.
With this Series-H funding round, so far Grab has received more than $4.5 billion. Other investors included in the Series-H funding round are...
JAKARTA (TheInsiderStories) - Indonesian e-commerce player PT Tokopedia is investing in two logistics companies as part of an effort to speed delivery and slash shipping costs in a country of 17 thousand islands, where logistics costs can be exorbitant. The company backed by Japan’ Softbank Vision Fund and Chinese Alibaba Group.
"Tokopedia's strategy is to partner. How to build technology...
JAKARTA (THeInsiderStories) – Indonesia will negotiate a palm oil dispute with European Union (EU) which plans to provide a proposal to impose import duties on biodiesel from Indonesia by 8-18 percent. The policy will be applied provisionally as of Sept. 6, 2019, and is determined definitively as of Jan. 4, 2020 with a validity period of five years.
Coordinating Minister...
JAKARTA (TheInsiderStories) - Indonesian aimed to built Mentarang Hydroelectric Power Plant, in North Kalimantan, with total costs US$2 billion starting 2020, said Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan. The decision has been take in a coordination meeting with state-owned power producer, PT Perusahaan Listrik Negara (PLN) and Energy and Mineral Resources (EMR) ministry on Friday (07/26).
He expect that the...
JAKARTA (TheInsiderStories) - Indonesia' government opened regular bidding for four third-stage conventional oil and gas blocks in 2019 which was open to all business entities, the energy and mineral resources (EMR) ministry announced on Friday (07/26). The four blocks are East Gebang block, West Tanjung I block, Belayan I block and Cendrawasih VII block.
Deputy Minister of MEMR Arcandra Tahar, said...
JAKARTA (TheInsiderStories) - State-owned oil producer, PT Pertamina re-issued two series Global Medium Term Notes with total amount US$1.5 billion. Series A have tenure 10 years with coupon rate 3.65 percent, while Series B is 30 years with an interest rate of 4.7 percent.
Finance Director Pahala N. Mansury said, the funds use for capital expenditure, which this year worth of...
JAKARTA (TheInsiderStories) - A local miner, PT Freeport Indonesia (PTFI) grope pocket over US$1 billio to dig underground mine in Grasberg, Papua. To increase the capacity of the mine, unit of American-based Freeport Mcmoran Gold & Copper Inc. (NYSE: FCX) will invest up to $15 billion.
"For the underground mine is approximately more than $1 billion, this year alone. In the next...
JAKARTA (TheInsiderStories) - Last week, the world was preoccupied with the election of new Prime Ministers in Britain, Iran' nuclear tensions to trade warming on the Korean Peninsula. This week, a full diary for central bank meetings in the United States (US), United Kingdom (UK) and Japan plus key data releases such as worldwide manufacturing PMI surveys, US non-farm payrolls and Eurozone'...
JAKARTA (THeInsiderStories) - The United States (US) insisted to continue its diplomacy with North Korea despite the communist state's new missile launches, apparently keeping hopes alive that the latest provocation would not derail efforts to resume nuclear talks between the two countries.
The test of two short-range ballistic missiles on Thursday (07/25) marked a new turn in the on-again, off-again...
JAKARTA (TheInsiderStories) - The operator of the Indonesian light rapid transit system, PT LRT Jakarta announced that it will continue the construction of the second phase of the LRT from Kelapa Gading, East Jakarta to Jakarta International Stadium in Tanjung Priok, North Jakarta, starting in early 2020. The construction of the 44-kilometers route is targeted to start operating in...
JAKARTA (TheInsiderStories) - The government seems to be seriously developing the potential of water to be used as electricity in the North Kalimantan province to maintain national energy security and support various developments in the region. Next year the government ensures that the Mentarang hydroelectric power plant is ready to be built with an investment of US$2 billion.
Maritime coordinating...
JAKARTA (TheInsiderStories) - Indonesia's Minister of Energy and Mineral Resources (MEMR) Ignatius Jonan launched 16 electricity infrastructure projects spread across West Nusa Tenggara and East Nusa Tenggara on Thursday (07/25). The projects include the constructions of power plants and the Sumbawa Electricity Toll project.
"With these projects, electricity infrastructure in West Nusa Tenggara and East Nusa Tenggara will become more...
JAKARTA (TheInsiderStories) - United States (US) Secretary of State Michael Pompeo said Thursday he was happy and willing to go to Tehran to discuss US foreign policy after the two countries had strengthened its relations over the past three months after an attack on oil tankers in the Hormuz Strait off the coast of Iran.
"I'd like a chance to...
JAKARTA (TheInsiderStories) - State-owned flight carrier, PT Garuda Indonesia Tbk (IDX: GIAA) announces it had made a net loss of Rp2.4 trillion (US$175 million) on revenues of $4.17 billion in a revised financial statement for 2018, against a previously reported net profit of $5 million on $4.37 billion of sales.
The airline said that the changes were related to the...
JAKARTA (TheInsiderStories) - Ralali.com, the first and largest online B2B marketplace e-commerce platform in Indonesia raised US$13 million from three foreign investors. The startup is aiming to enable medium, small and micro enterprises (MSME) in sourcing, scaling and sustaining their business across the nation.
Reportedly, thecSeries C investment is led by Arbor Ventures of Singapore, TNB Aura of Singapore and Jo...
JAKARTA (TheInsiderStories) - Indonesia' oldest car company, Djawatan Angkoetan Motor Repoeblik Indonesian, or well-known as DAMRI prepared funds around US$150 million to replace 500 diesel buses into electric buses within five years period. The decision taken followed President Joko Widodo planned to sign an electric vehicle regulation in coming weeks.
The company official Dipo Wirawan explained yesterday (07/26), the planned was based...
JAKARTA (TheInsiderStories) - The operator of the Indonesian mass rapid transit system, PT MRT Jakarta announced the East - West projects need costs around Rp75.5 trillion (US$5.40 billion), the senior officer on Thursday (07/25). The development its targeting starting 2020 and need seven years to finish it.
"The 31 kilometer (km) track will mostly be built floating and some will be...
JAKARTA (TheInsiderStories) – Good morning! President of European Central Banks (ECB) Mario Draghi has hinted that the central bank will cut rates in September. The statement out after the Governing Council decided that interest rates remain unchanged and expects the ECB' main interest rates stay at their current or lower levels at least until the first half of 2020.
International Monetary...
JAKARTA (TheInsiderStories) - The Governing Council of the European Central Bank (ECB) decided that the interest rate on the main operations, marginal lending facility and the deposit facility will remain unchanged at 0.00 percent, 0.25 percent and -0.40 percent respectively, said the board today (07/25).
The Governing Council expects the key ECB interest rates to remain at their present or lower...
JAKARTA (TheInsiderStories) - Indonesia's non-government organizations (NGOs) urged President Joko Widodo and Parliament to cancel mineral and coal bill draft. The organizations assess the draft rule very hastily and just accommodate certain parties interests such as elites and capital owners.
Aryanto Nugroho, a spokesman from Publish What You Pay (PWYP) Aryanto Nugroho said mineral and coal bill has potentially problematic...
JAKARTA (TheInsiderStories) - Indonesia' state-owned companies will sign partnership deals with a number of African investors, official says. There are at least six to seven projects that will be signed in Bali next month during the Indonesia-Africa Infrastructure Dialogue (IAID) to make its presence on the continent felt by expanding its trade and investment portfolio.
"The work includes a railway...
JAKARTA (TheInsiderStories) - Indonesian steel maker PT Krakatau Steel Tbk (IDX: KRAS) has again signed a memorandum of understanding (MoU) on steel supply with Cedex Steel & Metals Pty. Ltd. or known as CEDEX, a steel company from Australia on Thursday (07/25). This agreement will be valid for the next 2 years after the cooperation contract between the two...