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Indonesia’s Taspen Life Acquires Jiwasraya Putra for US$183M

JAKARTA (TheInsiderStories) - State insurance firm, PT Taspen Life will acquires 70 percent shares of PT Asuransi Jiwasraya Putra for Rp2.6 trillion (US$183.09 million), said the...

Thohir Batalkan Pembentukan Induk Usaha Perbankan BUMN

JAKARTA (TheInsiderStories) - Menteri Badan Usaha Milik Negara (BUMN), Erick Thohir, membatalkan rencana pembentukan induk usaha bank plat merah dan memilih untuk mempertajam fokus...

Thohir Aborts the Establishment of SOEs Banking Holding

JAKARTA (TheInsiderStories) - Minister of state own enterprises (SOEs), Erick Thohir, aborted the formation of state-bank holding and chooses to sharpen the focus of each lender....

Indonesia’s Pertamedika Becomes a Holding of State-Owned Hospital

JAKARTA (TheInsiderStories)  - PT Pertamina Bina Medika (Pertamedika) had signed a conditional share takeover agreement with seven state-owned as the forming of holding company,...

More Selective Government Support Reduces Credit Quality of Indonesia’s SOEs

JAKARTA (TheInsiderStories) - Support for Indonesia' state-owned enterprises (SOEs) from the Indonesian government (Baa2 stable) is likely to become more selective due to coronavirus disruptions, weighing...

Moody’s Downgrades Jasa Marga, Wijaya Karya Rating due to COVID-19

JAKARTA (TheInsiderStories) - Moody's Investor Service downgraded two state-owned enterprises rating due to negative impact from the COVID-19 Outbreak. The agency has downgraded the issuer and...

Semen Indonesia Shares Dividend US$17M, Rudiantara Become Chairman

JAKARTA (TheInsiderStories) - PT Semen Indonesia Tbk (IDX: SMGR) distributed dividend Rp239.22 billion (US$17.09 million) or 10 percent from last year' net profit Rp2.39 trillion,...

Telkom Indonesia Gives Dividend US$1B for the Shareholders

JAKARTA (TheInsiderStories) - Shareholders of telecommunication provider, PT Telkom Indonesia Tbk (IDX: TLKM) will get dividends amounting to Rp15.26 trillion (US$1.09 billion) or Rp154.06...

Indonesia’s Bank Tabungan Negara, Taspen Life Acquires Jiwasraya Putra

JAKARTA (TheInsiderStories) - The advisor of state-owned insurance firm, PT Asuransi Jiwasraya, PT Mandiri Sekuritas announced the state lender, PT Bank Tabungan Negara Tbk (IDX: BBTN) and...

Indonesia’s Pertamina Profit Stagnant Amid the Low Price

JAKARTA (TheInsiderStories) - The largest energy producers in Indonesia, PT Pertamina reported booked a net profit US$2.53 billion in 2019, same with last year' number. This...

The Government Inaugurates Four Integrated Train Stations in Jakarta

JAKARTA (TheInsiderStories) - Indonesian government integrated four stations in the capital city to improve its services and make the transportation connectivity runs smoothly. Its...

Indonesia’s PLN Losses US$2.78B due to Higher Costs in 1Q of...

JAKARTA (TheInsiderStories) - PT Perusahaan Listrik Negara (PLN) booked a net losses Rp38.88 trillion (US$2.78 billion) in the first quarter (1Q) of this year due to higher...

Shareholder Rejects PLN Proposed Capex, to Cut by 40%

JAKARTA (TheInsiderStories) - Shareholder of PT Perusahaan Listrik Negara (PLN) rejected the proposed capital expenditure worth of Rp100 trillion (US$7.14 billion) to avoid fraud at...

Thohir Cut Half of Pertamina’s Board of Directors, Set Up Subholding

JAKARTA (TheInsiderStories) - State own enterprises minister, Erick Thohir, cut half of the energy producer, PT Pertamina' board of director at the shareholder meeting today...

90% Profit of Indonesia’s Bukit Asam Shared as Dividends

JAKARTA (TheInsiderStories) - Indonesian government decided 90 percent of profit state-owned coal miner, PT Bukit Asam Tbk (IDX: PTBA) in 2019 will distributes as dividend, said...

Garuda Indonesia Proposes Global SUKUK Maturity Extension

JAKARTA (TheInsiderStories) - The national airlines, PT Garuda Indonesia Tbk (IDX: GIAA) has submitted a request to extend the payment of its Global SUKUK worth of...

Indonesia’s Inalum Sold Bond US$2B to Refinances Debt, Build Projects

JAKARTA (TheInsiderStories) - Integrated aluminum company, PT Indonesia Asahan Aluminium (Inalum) has successfully issued global bond worth of US$2.5 billion, said the state own enterprises ministry...

Indonesia Releases Economic Recovery Program Regulation

JAKARTA (TheInsiderStories) - President Joko Widodo has signed a special rule  Government Regulation Number 23 of 2020 regarding Economic Recovery Program (ERP), which was just enacted...

PEFINDO Revises Down Corporate Bond Issuances to US$8B in 2020

JAKARTA (TheInsiderStories) - Indonesian Rating Agency (PEFINDO) revised down this year' corporate bond issuances from initial targets Rp158 trillion Rp116.9 trillion (US$7.79 billion) caused of...

State Own Enterprises in the Middle of COVID-19

JAKARTA (TheInsiderStories) - The pandemic has highlighted the role of the public sector in saving lives and livelihoods. State-owned enterprises (SOEs) are part of that...

Indonesia’s Bank Mandiri Offers Eurobond US$2B

JAKARTA (TheInsiderStories) -  State-owned enterprises are looking for foreign exchange loans to finances its business expansion and debt refinancing. After toll road operator, PT Hutama...

Indonesia’s Bank Mandiri Eyes US$67M from Bond Market

JAKARTA (TheInsiderStories) - One of the largest bank in Indonesia, PT Bank Mandiri Tbk (IDX: BMRI) eyes fresh funding from local bond around Rp1 trillion (US$66.67...

Number of SOEs Lessen than 42 in 10 Years, says Thohir

JAKARTA (TheInsiderStories) - State Own Enterprises (SOEs) minister, Erick Thohir, wants to lessen number of state companies not more than 42 in 10 years,...

Thohir Encourages SOEs to Issue Global Bonds

JAKARTA (TheInsiderStories) - Minister of State Own Enterprises (SOEs), Erick Thohir, urged a number of largest state firms to issue global bonds in order to...

Indonesia’s Timah Slices the Production up to 30% per Month

JAKARTA (TheInsiderStories) - The world’ second-largest tin producer, PT Timah Tbk (IDX: TINS), plans to cut its capacity production up to 30 percent a month...

In Indonesia, 12 SOEs Prepares US$500M for Buyback Shares

JAKARTA (TheInsiderStories) - The state own enterprises (SOE) ministry ordered 12 state firms to buyback shares to curb the stock market falling further, local media reported...

Indonesia’s Pertamina Prepares Investment US$7.8B in 2020

JAKARTA (TheInsiderStories) - Indonesian largest oil and gas producer, PT Pertamina, prepared an investment US$7.8 billion in 2020 to continue aggressively drilling wells, said the CEO...

SOEs Minister to Form Sub-Holding of Financial Company

JAKARTA (TheInsiderStories) - Minister of State Own Enterprises (SOEs), Erick Thohir, plans to synergizes three companies that has similar business in small medium enterprises. The planned...

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...

Soon, Indonesia Bahana Becomes an Insurance Holding Company

JAKARTA (TheInsiderStories) - Indonesian government set up PT Bahana Pembinaan Usaha Indonesia (BPUI) as the holding company (holdco) of insurance companies, said the one official...