Indonesia’s Blue Bird Sold Minority Shares to Undisclosed Buyer
JAKARTA (TheInsiderStories)- Major shareholders of local taxi operator, PT Pusaka Citra Djokosoetono, sold 108.21 million shares or 4.32 percent of enlarged and paid up of PT Blue Bird Tbk (IDX: BIRD) to undisclosed buyer. The company raised Rp411.1 billion from the share sales, said the company...
Indonesia’s Apexindo Offers MCB US$186M
JAKARTA (TheInsiderStories) - Local oil and gas producer, PT Apexindo Pratama Duta Tbk (IDX: APEX) offered Mandatory Conversion Bonds (MCB) with total amount US$185.84 million, said the company on Monday (02/17). The total new shares issued are 996.3 million shares and divided into two tranches.
A total...
Morning Briefing: Euro Falls to the Lowest Level Since 2017 Amid Germany
JAKARTA (TheInsiderStories) - Good Morning! The weak manufacturing and gross domestic product (GDP) data of Germany, Europe' largest economy, bring Euro close to its lowest since April 2017 at US$1.0836 in Asian market. Since early February, the single currency has lost 2.3 percent over the US Dollar.
The...
China Injects Funds US$43B to Drive Banking Liquidity
JAKARTA (TheInsiderStories) - In order to offset the impact of the maturing of reverse repos and to maintain reasonable and adequate liquidity in the banking system, the People’s Bank of China (PBoC) injected more funds to financial market worth of RMB300 billion (US$42.98 billion).
In an...
Indonesia Considers to Give Stimulus for Tourism Sectors
JAKARTA (TheInsiderStories) - Indonesian government considered to give an incentives to the tourism sector to curb coronavirus effect, said the head of state at the limited meeting at his office today (02/17). As known, the epidemic has hit global economy especially in tourism and trade...
Indonesia’s Trade Deficit US$870M in January
JAKARTA (TheInsiderStories) - Statistics Indonesia reported the trade deficit in January worth of US$870 million, said the head Suhariyanto today (02/17). During 2019, the trade deficit declined sharply to $3.20 billion in 2019 from an $8.69 billion recorded a year earlier.
Total exports recorded $13.41 billion, down 3.71 percent...
Singapore Downgrades Economic Growth Over Coronavirus
JAKARTA (TheInsiderStories)- Singapore' trade and industry ministry (MTI) has downgraded the GDP growth forecast from -0.5 to 1.5 per cent in this year, with growth expected to come in at around 0.5 percent, the mid-point of the forecast range, it said in written statement...
Indonesia’s Credit Profile Balances Stable Growth with Revenue Weaknesses
JAKARTA (TheInsiderStories) - Indonesia' (Baa2 stable) credit profile is supported by the economy' large size, low fiscal deficits and modest debt burden. These features are balanced by a weak revenue base that constrains debt affordability, a reliance on external market funding, and a degree of economic...
Indonesia’s Aims Non Oil and Gas Industry Grow 8.3% in 2024
JAKARTA (TheInsiderStories) - Indonesia aiming non oil and gas manufacturing grow 8.3 percent in 2024 by boosting investment and exports, said industry minister last week. Along with the target, the ministry also wants to boost the contribution of the manufacturing sector to the national economy by...
Weekly Briefing: Policy, Trade, PMI Data Haunts the Market
JAKARTA (TheInsiderStories) - Good Morning! This week monetary policy action comes from Indonesia, while central banks in the United States (US), Europe, Australia and India release the minutes from their prior meetings. All of which will be scoured for clues as to how policymakers assess the...
Xi Assures Mahathir to Minimize Coronavirus Impact
JAKARTA (TheInsiderStories) - After called Indonesian President Joko Widodo, Chinese President Xi Jinping also have a phone-called with Malaysia' Prime Minister Mahathir Mohammad on the novel coronavirus case. In the phone conversation, he assured, that China will minimize the impact of the virus.
He said strict measures...
Indonesia’s SWF Body Regulates in Omnibus Law Job Creation
JAKARTA (TheInsiderStories) - The form of Sovereign Wealth Fund (SWF) body regulated at the Omnibus Law for Job Creation, it showed at the draft bill has been seen to the parliament on Wednesday (02/12). The new entity regulated under article 156 of the law.
Based on the...
Indonesia Needs to Build More Renewable Energy Installations
JAKARTA (TheInsiderStories) - Indonesia has set a renewable energy target of 23 percent in the energy mix by 2025. The country has renewable energy potential of more than 400 gigawatt (GW) but is actually utilizing much less for power generation.
The country is mainly dominated by thermal...
Indonesia’s Omnibus Law on Job Creation Submitted to Parliament Amid Criticism
JAKARTA (TheInsiderStories) - Indonesian government has sent the controversial Omnibus Law on job creation to parliament last week, marking a labor reforms that are intended to seduce investors and accelerated the economic growth. In the 1,194 pages in 82 laws, the country is looking to reform five...
Indonesia’s Trade Minister Flies to Washington to Completed GSP
JAKARTA (TheInsiderStories) - Indonesia' minister of trade, Agus Suparmanto is committed to improve bilateral trade with the United States (US) by completed the Generalized System of Preferences (GSP). He emphasized that America is important partner as a second export destination for the country.
Since Feb. 13 until Feb. 15,...
Indonesia’s Wijaya Karya, PTPP Wins Patimban Contract
JAKARTA (TheInsiderStories) - Two state-owned companies, PT Wijaya Karya Tbk (IDX: WIKA) and PT PP Tbk (IDX: PTPP) has won contract of Patimban Port project in Subang, West Java from the the government. The signed ceremony held on Thursday (02/13) at the transportation ministry...
Morning Briefing: Indonesia Oversees the Inflation Target
JAKARTA (TheInsiderStories) - Good Morning! To keep inflation remaining within the target range of 3.0±1 percent, the government and Bank Indonesia (BI) agreed to maintaining volatile food inflation in the range of 4.0±1 percent. To reached the target, the parties agreed to strengthening price affordability, supply...
Australia Top List Among International Investors Search
JAKARTA (TheInsiderStories) – Australia ranks as the top investment destination among dealmakers within Asia Pacific and globally, outshining many of Asia’ more popular, high-growth emerging markets, said Pitcher Partners in its latest report. This is particularly true of investor intentions regarding mid-market deals (those valued between...
Indonesia’s Pertamina offers Another Global Bond
JAKARTA (TheInsiderStories) - Indonesian energy producer, PT Pertamina, has plans to releases another global medium term notes (GMTN) under its US$10 billion program. The plan was revealed in the latest research of Moody's Investors Service released today (02/13).
No further details on the amount. But last year, the...
Indonesia Officially Ban Live Animals Import from China
JAKARTA (TheInsiderStories) - To anticipate coronavirus outbreak, ministry of trade has officially temporarily stops live animals import from or have transited in China to Indonesia, said the minister today (02/13). As known the virus outbreak has impact to over 60,000 cases and 1,369 deaths.
The new...
Indonesia to Build Two Fast Trains in Java Island
JAKARTA (TheInsiderStories) - Indonesian government plans to build two fast trains until 2024 with total cost Rp63.6 trillion (US$4.54 billion). The two projects namely Jakarta - Semarang and Jakarta - Bandung in Java Island.
Citing the Presidential Regulation Number 18 Year 2020 concerning the National Medium-Term Development...
US’s Goods Imports Soars 35.6% from Vietnam
JAKARTA (TheInsiderStories) - United States (US) goods imports from Vietnam soared 35.6 percent last year, as businesses rushed to work around tariffs levied on mainland China. Otherwise, American imports from China contracted a severe 16.2 percent.
Vietnam has figured prominently as a parallel supply chain network...
Mineral, Coal Investment in Indonesia Drops this Year
JAKARTA (TheInsiderStories) - Mineral and coal investment in Indonesia is expected to decline until 2024, said chair of Indonesian Mining and Energy Forum, yesterday (02/12). The reasoned, the construction of the plants and other infrastructure has occurred before 2020.
Singgih Widagdo, chairman of the association as quoted by...
Indonesia’s Nickel Ore Production to Drops 52% in 2020
JAKARTA (TheInsiderStories) - Indonesian Nickel Mining Association sees, local nickel ore production is projected drops 52 percent to 25 million wet metric tons (WMT) in this year, local media reported. The declined caused large of miners did not carry out their production activities in 2019 and the...
Indonesia to Relaxes Scrap Metal Import Rules
JAKARTA (TheInsiderStories) - The Indonesian government considered to relax the scrap metal import rules to support the downstream industry, said the industry minister Agus Gumiwang, yesterday (02/12). Its expecting the new policy will lead to a reduction in imports of steel billets.
At present, he...
Morning Briefing: Powell Says Less Room to Cut Rates
JAKARTA (TheInsiderStories) - Good Morning! Chairman of Federal Reserve, Jerome Powell said, there is a less room to cut the rates in this year and must use another tools to guard United States (US) economy. He testified, the central bank would stimulate the economy by...
Indonesia’s Indofood Eyes Foreign Instant Noodle Firm
JAKARTA (TheInsiderStories) - Food and beverages producer, PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP) was reviewing the offer by British Virgin Island' Pinehill Corpora Ltd., and Steele Lake Ltd to acquires their shares. No further details on the deadline of the transaction.
"Indofood CBP wishes to announce that...
Indonesia’s XL Axiata Sold Towers US$296M to Pay Debts
JAKARTA (TheInsiderStories) - Indonesia' telecommunication operator, PT XL Axiata Tbk (IDX: EXCL), sold 2,782 towers with total valued Rp4.05 trillion ($289.28 million) to two local tower operators. The company will uses the funds to cut the debt.
The signing of the sale and purchase agreement was carried...
Widodo Wants Indonesia’s Ease Doing of Business Rank Rises to 40
JAKARTA (TheInsiderStories) - President Joko Widodo wants Indonesia' ease of doing business (EoDB) ranking rise from 73 to 40 position in 2019. To Reach the target, he emphasized several things to do by his staff.
First, he asked the officials focus to improve 10 components with rank...
Indonesia’s Triputra Agro Plans to Go IPO, Targets US$500M
JAKARTA (TheInsiderStories) - Indonesian plantation firm, PT Triputra Agro Persada is gearing up to list its shares (IPO) at the local bourse, said the people closed to the deal. The company its estimating could raise around around US$500 million from the IPO.
Since 2012, the company owned...
