FGV, Tabung Haji to Sell Assets in Indonesia
JAKARTA (TheInsiderStories) - Palm oil giant Felda Global Ventures Holdings Bhd (FGV) and the Malaysian pilgrim's fund, Lembaga Tabung Haji (LTH), are reportedly looking to sell their shares in Trurich Resources Sdn Bhd (Trurich), which owns plantation assets in Kalimantan Indonesia, at a price...
BI Estimates Inflation 2.7 Percent in April
JAKARTA (TheInsiderStories) - Bank Indonesia (BI) estimated the inflation rate in April 2019 around 2.7 percent, said the Governor Perry Warjiyo yesterday (04/23). This value is sourced from the Price Monitoring Survey in the third week of April, which was 0.31 percent on a...
ASEAN Ministers Agrees to Strengthen Investment, Trade Services
JAKARTA (TheInsiderStories) – The economic ministers of Southeast Asian countries (ASEAN) agreed to strengthening trade and investment between the countries in the Southeast Asia region. This was manifested in the signing of the ASEAN Trade in Services Agreement (ATISA) and ASEAN Comprehensive Investment Agreement (ACIA).
Indonesian...
Indonesia’s PLN Chief Named Suspects in Riau-1 Power Project
JAKARTA (TheInsiderStories) - The chief executive of Indonesian state electricity producer Perusahaan Listrik Negara (PLN) has been named a suspect in a graft case related to Riau-1 power project, Corruption Eradication Commission (CEC) said on Tuesday (04/23).
The anti-graft commission suspects that Sofyan Basir, "accepted the...
Indonesia Absorbs Funds US$1.67B from the Government Bond Auction
JAKARTA (TheInsiderStories) – Finance ministry of Indonesia absorbed funds of Rp23.4 trillion (US$1.67 billion) from the auction of seven series of government bond from a total offer Rp41.76 trillion, said an official statement on Tuesday (04/23).
According to the Directorate General of Financing and Risk...
Indonesian Stock to Watch on Wednesday, April 24
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) on Tuesday's trading (4/23) closed up 0.75 percent or 48.08 points at 6,462.82 from Monday's trade (4/22) which closed down 1.42 percent or 92.48 points to 6,414.74.
Top Gainers
Yesterday, shares of PT Menteng Heritage Realty Tbk (IDX:...
Morning Briefing: Indonesia Aims The Economy Grow 5.3 - 5.6 in 2020
JAKARTA (TheInsiderStories) — Good morning! Indonesia' Finance Minister Sri Mulyani Indrawati regarded that Indonesia’ economy is estimated to grow by 5.3 to 5.6 percent in the 2020’ State revenue and expenditure budget. Indrawati said that President Joko Widodo expected the economy would grow at...
BCA Offically Buys Bank Royal Shares for US$71.42M
JAKARTA (TheInsiderStories) - One of the largest bank in the country, PT Bank Central Asia Tbk (IDX:BBCA) joined with its subsidiary PT BCA Finance, entered into a sale and purchase agreement to buy all of PT Bank Royal Indonesia shares with valued Rp1 trillion...
Indonesian Election: Opposition Calls Escort Votes Counting
JAKARTA (TheInsiderStories) – Indonesian opposition candidates Prabowo Subianto - Sandiaga Salahuddin Uno asked all parties to oversee the process of calculation, tabulation and votes input that was taking place at the General Election Commission (GEC). The appealed to ensure the election results were transparent,...
ADB: Asia’s Economies Slowing Down in 2019, 2020
JAKARTA (TheInsiderStories) - Asian Development Bank (ADB) forecasted the declining of gross domestic product (GDP) growth for developing Asia, from 5.9 percent in 2018 to 5.7 percent in this year and 5.6 percent by 2020. But some observer sees Asia' economic growth slowdown may be...
Shentonwire: LMIR Trust Dropped 7.8% in 1Q-2019 YoY
Jakarta (TheInsiderStories) - Lippo Malls Indonesia Retail Trust (LMIR Trust), reported Monday its first-quarter net property income dropped 7.8 percent on-year to US$29.98 million from $40.30 million a year ago.
The decline was due to lower rental income from Lippo Plaza Batu and Palembang Icon...
Number of Companies Eyes Indonesian Oil, Gas Blocks
JAKARTA (TheInsiderStories) - Indonesian Energy and Mineral Resources (EMR) ministry announced 18 local and foreign companies accessing the bidding documents for oil and gas working area in the first phase of 2019. The government has offered oil and gas blocks since Feb. 21, and will...
Oil Price Surges as US Ends Waivers for Iranian Oil
JAKARTA (TheInsiderStories) – Global oil prices surged to nearly six month higher at US$74 a barrel after President Donald Trump decided not to reissue waivers for all countries that continue to import Iranian oil without facing United States sanctions. The policy will be implemented in early...
Indonesian Stock to Watch on Tuesday, April 23
JAKARTA (TheInsiderStories) - The Jakarta Composite Index closed down 1.42 percent or 92.48 points to 6,414.74 on Monday (04/22). Last week, JCI had been able to close at 6,57.22 with a gain of 0.40 percent or 25.68 points, rallying the third day in a row.
Top...
Morning Briefing: State Budget Deficit Swells to US$7.24B in the 1Q
JAKARTA (TheInsiderStories) — Good morning! Indonesia has no choice to suffered Rp102 trillion (US$7.24 billion) deficit in the first quarter (1Q) of 2019. The deficit’ portion to the Gross Domestic Product (GDP) was 0.63 percent.
The state revenue recorded Rp350.1 trillion, while the spending was Rp452.1...
Indonesia’s Blue Bird Launches Electric Taxi Fleet
JAKARTA (TheInsiderStories) - Indonesian online taxi company, Blue Bird Group launched the "e-Taxi", an electric taxi fleet for Blue Bird and Silver bid services with the BYD e6 A/T and Tesla models x 75D A/T. The new service is expected to start operating in...
Indonesia 2020’s State Budget Aims More Export, Investment Stimulus
JAKARTA (TheInsiderStories) — Amid the continuing uncertainty of global economic conditions, Indonesia President Joko Widodo demands the next year’s State Budget to have high resiliency. In a meeting with his vice president and ministers, Widodo wanted the budget to have more stimulus for boosting...
Bank Tahungan Negara Acquires 30% PNM Investment Management Shares
JAKARTA (TheInsiderStories) – A state-owned lender PT Bank Tabungan Negara Tbk (IDX: BBTN) bought 30 percent or 33,000 shares of PT Permodalan Nasional Madani Investment Management (PNMIM) for Rp114.3 billion (US$8.16 million).The signing of a Conditional Shares Purchase Agreement (CSPA) between both parties held...
Morgan Stanley: Indonesia to Continue Economic Reform under Widodo’s Second Term
JAKARTA (TheInsiderStories) – An international financial institution Morgan Stanley, projected that the quick polls victory of incumbent Joko Widodo-Ma'ruf Amin against the contender of Prabowo Subianto-Sandiaga Salahuddin Uno opened the gate for the continuation of the second structural reform policies to encourage higher economic...
PSN Consortium Wins US$1.5B Indonesia’s Satellite Multifunction Project
JAKARTA (TheInsiderStories) – Indonesian government has won PT Pasifik Satelit Nusantara (PSN) consortium as the winner of the Government Multifunctional Satellite auction with worth of US$1.5 billion. The Public-Private Partnership projects targeted to launch in 2022.
In an official statement released last week, chairperson of the auction committee at...
US, China Working to Signs New Trade Agreement
JAKARTA (TheInsiderStories) - United States (US) and China plan to hold a new round of negotiations later this month, according to officially reported last week. Both sides, hope to wrap up a final agreement with a formal signing ceremony on May 27, the US'...
Indonesian Stock to Watch on Monday, April 22
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.40 percent or 25.68 points to 6,507.22 on Thursday (04/18) from the prior day which closed up 0.72 percent or 46, 39 points to 6,481.54.
Top Gainers
On Thursday, shares of PT Menteng Heritage Realty Tbk (IDX:...
Weekly Briefing: Welcoming China’s Belt and Road Initiative Summit
JAKARTA (TheInsiderStories) — Good morning! China will hold the Belt and Road Initiative (BRI) Summit on April 25-27. 37 world leaders in the summit is scheduled to discuss project financing that respects global debt goals and promotes green growth.
The BRI is a key policy of...
Indonesian Election: Subianto - Uno Declares Victory
JAKARTA (TheInsiderStories) - Prabowo Subianto and Sandiaga Salahuddin Uno declare a victory as a president and vice president of Indonesia. The pair give the declaration at Subianto' house at Kertanegara Street, Jakarta, today (04/18).
"I declare that I and Sandiaga declared victory as president and vice president...
The Opposition Complains Quick Count Surveys to Election Commission
JAKARTA (TheInsiderStories) – The results of a quick count of survey institutions on the 2019 Presidential Election were long tails. Today, Prabowo Subianto - Sandiaga Salahuddin Uno' Advocacy and Legal Team reported six survey institutions to the General Election Commission (GEC).
The camp considered as lying...
Indonesia’s Oto Multiartha to Issue US$71M Bond
JAKARTA (TheInsiderStories) — Amid the uncertainty of Indonesia’s election and global economic turmoil, capital market is still a preferred choice to get source of funding. An auto financing company, PT Oto Multiartha will issue Rp1 trillion (US$71 million) bond this year.
The bond will be...
Singapore’s Al Falah Investment will Acquires 50.3% Bank Muamalat Shares
JAKARTA (TheInsiderStories) – Indonesian businessman Ilham Habibie through his company Al Falah Investments Pte. Ltd. will become the controlling shareholder of PT Bank Muamalat Indonesia, after finalizing the acquisition of 50.3 percent of the Islamic bank shares. The transaction is targeted to be completed...
China’s Economy Rises Supported by Industrial, Revenue Escalations
JAKARTA (TheInsiderStories) – China's economy showed positive signs in the first quarter (1Q) of 2019, supported by industrial growth, accelerated revenue and lower unemployment. The economy of the world's second-largest country rose 6.4 percent in the 1Q, faster than the 6.3 percent market forecast....
Moody’s: The Victory of Quick-Poll’s Widodo-Amin Gives Hope to Sustainable Development
JAKARTA (TheInsiderStories) – Moody's Investors Service stated that the quick poll results so far indicate a second term for incumbent President Joko Widodo. This development would point to an environment of policy continuity, with a renewed focus on some of the reforms that marked...
IHS Markit: Global Economic Rebound Seems Impossible
JAKARTA (TheInsiderStories) – Data from the world's largest economy shows that there was a recent slump in growth in March, where JPMorgan's Global Composite Output Index rose 0.2 points to a four-month high of 52.8. This indicates that a rebound in growth seems unlikely....
