ASEAN+3 Agrees to Strengthen Regional Currency Swap, Fight Protectionism
JAKARTA (TheInsiderStories) — South East Asian (ASEAN) Finance Ministers and Central Bank Governors, along with China, Japan, and South Korea, agreed on a preliminary framework to strengthen the regional currency swap agreements. The deal aims to avoid over reliance on the US dollar, as...
Indonesia’s Mining, CPO Prices for Export Rises in May
JAKARTA (TheInsiderStories) – Indonesian government elevated benchmark price for several types of mining products, crude palm oil, and cocoa beans, said the government official on Thursday (05/02).
According to the director general of foreign trade Oke Nurwan, based on MinisterTrade Regulation Number 31 Year 2019, dated April...
Moody’s Assigns First-Time B1 CFR to Barito Pacific, Outlook Stable
JAKARTA (TheInsiderStories) – Moody's Investors Service has assigned a B1 corporate family rating (CFR) to PT Barito Pacific Tbk (Barito) on an outlook stable. At the same time, Moody's assigned a B1 rating to its proposed senior secured notes with a pledge of certain...
US’ Natural Gas Exports to Europe Surge by 272%
JAKARTA (TheInsiderStories) - The European Union (EU) announced that liquefied natural gas (LNG) imports from United States (US) have climbed 272 percent since 2016. The steepest increases occurred after President Donald Trump met with European Commission President Jean-Claude Juncker to hash out a trade deal last...
Indonesia’s Pertamina Reduces Crude Oil Imports US$1.4B
JAKARTA (TheInsiderStories) – Indonesian state-owned energy producer, PT Pertamina was reduced the crude oil and condensate imports by around 50 percent in the first-four months of 2019, said the company yesterday (05/02). The oil and gas producer succed to lowered the import costs worth of US$1.4 billion.
The...
Indonesian Stock to Watch on Friday, May 3
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed down 1.25 percent to 6,374.42 on Thursday (05/02), after briefly opened up 0.04 percent or 2.77 points to the level 6,458.12.
Top Gainers
The top gainers on Thursday's trading were PT Soechi Lines Tbk (IDX: SOCI) share...
Morning Briefing: Indonesian President Hold Political Communication with the Opposition
JAKARTA (TheInsiderStories) — Good morning! With his confidence to lead Indonesia for the second term, President Joko Widodo hold political communication with opposition parties. After met Amanat Party chairman Zulkifli Hasan, yesterday he met one of Demokrat Party leader Agus Harimurti Yudhoyono (AHY) at Merdeka...
Insight: Weak Performance of Sumarno’s State Enterprises Lead
JAKARTA (TheInsiderStories) - In the midst of slowing down the global and national economy, State-owned Enterprises (SOEs) are actually the saviors of the government finances. The fact, the management of SOEs under Rini Soemarno' leadership is far from satisfying.
"Favorite" minister of President Joko Widodo...
Indonesia’s Pertamina CEO in Riau-1 Project Corruption Circles
JAKARTA (TheInsiderStories) — Today, Indonesia' Anti-graft Commission examine state-owned energy producer PT Pertamina' CEO Nicke Widyawati as a witness for Riau-1 Steam Power Plant corruption case, for suspected Sofyan Basir, the CEO of other state-owned companies, PT Perusahaan Listrik Negara (PLN).
The commission' spokesman Febri...
Indonesian Govt Asks Garuda to Complete Internal Chaos
JAKARTA (TheInsiderStories) - Indonesian government through Transportation Minister Budi Karya Sumadi wrote to the airline PT Garuda Indonesia Tbk (IDX: GIAA) to immediately resolve the company' internal chaos that occurred after the shareholders meeting. The chaos is feared to disrupt flight operations.
Previously, a letter...
Indonesia Gets Funding of US$2.6B from ADB to Support Infrastructure Projects
JAKARTA (TheInsiderStories) – Indonesian government received an fresh funding from the Asian Development Bank (ADB) worth of US$2.6 billion to support strategic infrastructure projects during 2019, said the Fund on Wednesday (05/01). In 2018, ADB committed $3.9 billion to 19 projects in the archipelago.
According to...
Foreign Tourist Numbers Visiting Indonesia Declines
JAKARTA (TheInsiderStories) – Indonesia recorded foreign tourist arrivals to Indonesia in March decreased by 1.82 percent, from same month in 2018 totaled 1.36 million visits to 1.34 million visits, said the Statistic Bureau today (05/01). While, when compared to February, the number of foreign tourist...
Indonesia Posts Inflation 0.44% in April, Higher Than Expectations
JAKARTA (TheInsiderStories) – Indonesia posted inflation 0.44 in April 2019, higher than a prior month of 0.11 percent, said Statistic Bureau today (05/01). On an annual basis, the inflation rate recorded 2.50 percent, slightly up compared to March at 2.48 percent.
While core inflation stay at 3.06...
The Fed Holds Rates Steady, Reaffirms Patience Approach
JAKARTA (TheInsiderStories) - United States' Federal Reserve (The Fed) kept the target range of its federal funds rate (FFR) at 2.25 percent to 2.25 percent during its May meeting, noting that inflation is “running below” its stated target of 2 percent.
The Federal Open Meeting Committee (FOMC) also said...
Rabobank Terminates Operation in Indonesia
JAKARTA (TheInsiderStories) - PT Rabobank International Indonesia has terminated its operational in Indonesia starting April 2019, as written in the notification letter on Tuesday (04/30). The lender owned by Dutch' Rabobank Group, has been operating since 1990 in Indonesia,
President Director of Rabobank Indonesia Jos...
Indonesian Stock to Watch on Thursday, May 2
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.46 percent to 6,455.35 on Tuesday (4/30) from the previous trading which closed up 0.39 percent at 6,425.89.
Top Gainers
Two gainers on Tuesday' trading are PT MD Pictures Tbk (IDX: FILM) and PT Visi Telekomunikasi...
Morning Briefing: Trump Asks The Fed to Slash Rate
JAKARTA (TheInsiderStories) — Good morning! United States (US) President Donald Trump reiterated another intervention to Federal Reserves (The Fed) policy. Through twitter, he asked The Fed to cut rate by 1 point and mold more money with quantitative easing.
Trump even compared the central bank’s...
Indonesia’s Bumi Resources Profit Slumps Almost Half in 1Q 2019
JAKARTA (TheInsiderStories) - The controversial Bakrie-owned company PT Bumi Resources Tbk (IDX: BUMI) felt other gloomy days. In the first quarter (1Q) of 2019, its profit slashed almost half to US$48.44 million, from $90.15 million a year ago.
The disconcerting result impacted by its falling...
Indonesia’s United Tractors Prepares Capex US$800M in 2019
JAKARTA (TheInsiderStories) – An Astra International Group subsidiary, PT United Tractors Tbk (IDX: UNTR), prepared US$800 million in capital expenditure (capex) to develop its business lines, including the purchase of new heavy equipment owned by its unit PT Pamapersada Nusantara (PAMA).
Corporate Secretary of the...
Insight: Indonesian May Day Loads of Political Interest
JAKARTA (TheInsiderStories) - This year' Indonesian Workers Day commemoration is interesting because it coincides with the General Election. Even more special, this May 1 is right at the time of the presidential election results.
With the many findings of vote counting errors in the General...
Morning Briefing: Thousands Indonesian Workers Rally Today
JAKARTA (TheInsiderStories) - Thousands Indonesian workers rally today to voices "Honest and Peaceful Labor & Democracy Welfare". Presidential candidates Prabowo Subianto planned to attend and give speech at the May Day celebration in Central Jakarta.
The workers demand are rejected cheap wages, revoke presidential decree concerning Wages,...
Moody’s Affirms Alam Sutera’s Ratings, Outlook Negative
JAKARTA (TheInsiderStories) - Moody's Investors Service has affirmed the B2 corporate family rating of Alam Sutera Realty Tbk (P.T.). At the same time, Moody's has affirmed the B2 backed senior unsecured rating of the 2020 notes, 2021 notes and 2022 notes issued by Alam...
Trump Welcomes Trilateral Trade with UK, Japan after Brexit
JAKARTA (TheInsiderStories) - Amid the tariff war between the United States (US) and China which continues to negotiate, the world will witness an increase in trilateral trade cooperation between America, United Kingdom (UK), and Japan after the official Brexit decision was decided.
The three countries...
Argentina Curbs Peso Volatility to Stabilize Exchange Rate
JAKARTA (TheInsiderStories) - Yesterday, Argentina adopted a new measures aimed to stabilize its currency with the central bank ease limits on its foreign exchange market interventions. The country signaling its willingness to sell reserves in an effort to better control the volatility of the...
Indonesia Posted Investment Realization US$13.73B in 1Q 2019
JAKARTA (TheInsiderStories)—The Indonesian Investment Coordinating Board reported that the country recorded realization investment Rp 195 trillion (US$13.73 billion) in the first quarter (1Q) of 2019, up 5.3 per cent rise compared to 1Q 2018 of Rp185.3 trillion, said the agency today (04/30).
According to the...
More Incentives for Companies Conducting IPO in Indonesia
JAKARTA (TheInsiderStories) – Indonesian government continues to encourage more companies to take floor on the stock market through incentives and tax facilities senior officials said on Monday (04/29). This year, Indonesia Stock Exchange (IDX) was expected 45 companies list its shares.
According to Chief of...
Indonesia Moving the Capital City to the Near Eastern
JAKARTA (TheInsiderStories) – Indonesian government aimed to move the capital city from Jakarta to strategic areas outside Java or to near-eastern Indonesia, said President Joko Widodo at the limited meeting on Monday 04/29). This is due to the conditions of congestion and floods that...
Indonesian Stock to Watch on Tuesday, April 30
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (JCI) closed up 0.39 percent or 24.81 points to 6,425.89 on Monday (04/29), from the previous trading which closed up 0.44 percent or 28.29 points to 6,401.08.
Top Gainers
The top gainers on Tuesday is PT Meta Epsi Tbk...
Morning Briefing: US, China Hopeful Trade Deal Wrap in Two More Talks
JAKARTA (TheInsiderStories) — United States (US) and China are expected no longer far from reaching a trade deal. US Treasury Secretary Steven Mnuchin hoped that the both countries can finalize a deal with two more rounds of talks in China and Washington DC.
He also...
Indonesia May Day 2019 Questions Labor Wages
JAKARTA (TheInsiderStories) - The President of Konfederasi Serikat Pekerja Indonesia ( KSPI), Said Iqbal, said that May Day 2019 would carry the main agenda to reject low wages. In this case, demanding to revoke Government Regulation Number 78 Year 2015 concerning Wages. Then increase the...
